According to DefiLlama data, the Total Value Locked (TVL) of the Base ecosystem's lending protocol SwirlLend has dropped from $784,300 to $49,200. Additionally, on-chain information indicates that the price of the SwirlLend protocol token SWI has nearly reached zero around 10 AM today. Furthermore, the official SwirlLend Twitter account has been deactivated.
As per findings from PandoShield monitoring, the lending protocol SwirlLend has also experienced a Rug Pull on Linea. The deployer has utilized Orbiter Finance to move around 94 Ethereum tokens cross-chain from Linea to the Ethereum mainnet. The fraudulent activity is ongoing in transferring funds from Linea to the Base network. The scammer's address on #Ethereum currently holds a balance of 165.6 $ETH and 32,641 $USDC.