RiskOnBlast: Gambling Platform Gone Awry

RiskOnBlast, a gambling platform amidst Blast’s vanished assets, including money, website, and social media accounts, garners attention.

After Blast’s money, website, and social media accounts vanished, the first thing that people noticed was the RiskOnBlast project, a gambling platform built on the Blast layer-2 ecosystem.

After what seemed like a drain on cash on February 25th, Arkham Intelligence reports that RiskOnBlast balances are now zero.

The presale for the GambleFi project’s RISK token, which started on February 22 and finished the following day, raised 420 ETH, or $1.25 million. The team has subsequently transferred DAI to the noncustodial cryptocurrency exchange ChangeNOW, nevertheless.

In addition, users are advised to “exercise caution when interacting with it” after Etherscan identified the project’s URL as a phishing scam.

Among those who issued a warning on February 25 about the project’s vanished website and social media presence was Coinbase tech head Andrew Choi.

According to Amir Ormu, a blockchain detective, the RiskOnBlast crew disguised $850,000 of the stolen cash by mixing them with ChangeNOW, which hid the transaction trail, on February 25. Additionally, the MEXC and Bybit exchanges received the funds.According to Amir Ormu, a blockchain detective, the RiskOnBlast crew disguised $850,000 of the stolen cash by mixing them with ChangeNOW, which hid the transaction trail, on February 25. Additionally, the MEXC and Bybit exchanges received the funds.

There was an apparent rug pull, and the cryptocurrency community has now come together to assist find the money. A victim of the “rug pull” who lost $12,500, an NFT investor named “MoonCat2878,” gave 1 ETH to blockchain detective ZachXBT, who has helped recover stolen cryptocurrency in the past.

Losses of $10,000 have also been reported by another victim.

User-shared pictures indicate that the Blast team announced RiskOnBlast on February 12th. The small, unnamed team of three responsible for the gaming initiative triggered red flags.

As a way to scale the Ethereum network, the Blast protocol gives users the chance to earn native yields on their staking assets. The platform had promised an airdrop in May, and since its announcement in mid-November, it has amassed a total worth of $2 billion, mostly due to the fact that airdrop hunters have been unable to participate.

A number of issues and controversies have surrounded the platform since its announcement a few months ago.