Altcoin Development Team Regains Access to Locked Assets After a Year, Raises Concerns of Fraud
In a surprising turn of events, the development team behind an altcoin project, Gemholic, has finally regained access to funds that were locked for over a year. However, their recent actions have raised suspicions of potential fraud.
Gemholic, a zkSync project, faced a major setback when a sales contract error rendered all of the developer team’s funds inaccessible. Fortunately, zkSync recently released an update, v24, which resolved the issue and allowed the team to retrieve the 921 ETH that was locked in the contract.
Despite this positive development, concerns have been raised about the intentions of the Gemholic team. With no official statement from the developers and the sudden withdrawal of funds from the zkSync network, many fear that the project may be a victim of rugpull fraud.
Rugpull is a deceptive tactic where a project team raises funds from investors, only to disappear with the money, leaving investors with worthless tokens. The sudden disappearance of assets from the Gemholic zkSync wallet has only fueled suspicions of foul play.
As the situation unfolds, investors are advised to exercise caution. This article does not constitute investment advice. For those interested in trading cryptocurrencies, Binance exchange offers a 20% commission discount for new registrations.
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