CertiK Alert reports zkFlex Finance exit scam

In an Oct. 8 post on X, Certik, a security-focused ranking platform, reported an exit scam on zkFlex Finance after charts show a 100% in the project’s value.

Alongside this announcement, the project’s social media accounts and websites have also been removed.

Deleted accounts

#CertiKSkynetAlert 🚨

We are seeing an exit scam on @zkFlexFinance

ETH:0x54855D3133669B7EF54A2c962F5f63fdb44bBaE9

Which has dropped 100%

The project’s socials and sites have been deleted.

0x84f90 has dumped tokens for a profit of ~$56k

Stay vigilant!https://t.co/m7xQb6DQO6

— CertiK Alert (@CertiKAlert) October 8, 2023

As part of the announcement, two addresses were noted as being part of the alleged exist scam, including address 0x84f90, which had sold tokens, making an approximate profit of $56,000.

X Profile | Source: X

The project’s accounts, including its X profile, website and medium account, have since been removed.

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zkFlex Finance was said to promote DeFi innovation with liquidity rewards, lending and ecosystem support as a P2P order book exchange that focused on security and scalability.

Exit scams remain an issue

Exit scams continue to make headlines, with an announcement in March that Optimism was also believed to be responsible for an exit scam in which $4 million in user funds were reported stolen, following which the websites and social media accounts associated with the firm were also taken down.

That being said, data from Chainanalysis has shown that it isn’t exit scams that are top of mind but rather ransom attackers, which are becoming a persistent issue.

Read more: Mutant Ape Planet NFTs creator arrested and charged with fraud over $2.9m exit scam

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