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Kokomo Finance Rug Pull: Additional $1.5M Stolen, Totaling $5.5M from Investors

Cointime Official

Kokomo Finance ($KOKO) reportedly executed another rug pull to steal an additional $1.5 million from its investors by modifying its implementation contract. This brings the total amount stolen to a staggering $5.5 million.

According to Beosin Alert's tweet thread, this latest incident follows a previous rug pull on March 27, where the deployer of Kokomo Finance deployed a contract cBTC and altered the reward settings, suspending borrowing in the process. This earlier event resulted in the theft of $4 million.

The thread also highlights that 28 BTC have now been bridged to the 0xf650 address on the Binance Smart Chain (BSC), while 22 BTC have been transferred to the same address on the Arbitrum network.

The transaction details are available on Optimistic Etherscan for further scrutiny.

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