$3M worth of customer funds swiped via alleged Swaprum DEX rug pull By Cointelegraph

Arbitrum-based decentralized exchange (DEX) Swaprum has allegedly conducted a rug-pull on its users, with $3 million worth of customer deposits being swiped from the platform.

A rug pull or exit scam occurs when a seemingly legitimate project gathers investment or user deposits before promptly shutting everything down, pulling the capital and vanishing — if they adequately cover their tracks.