Encryption AI Rug Pull
- Scam
- DeFi Protocol
The developer behind Encryption AI posted to the community during a migration citing a gambling addiction as the reason for draining funds. They removed an estimated $2 million from the protocol to pay off debts. CT labeled it a classic rug after the dev abandoned the project mid-migration.
Incident Details
- Type
- RUG PULL
- Funds Lost
- $2M
- Status
- Total loss
Project shut down. Funds never recovered.