- The MANGO token airdrop had been scheduled for January 10
- A pseudonymous developer alerted of a breach in the project’s front end
- The protocol promised unparalleled yield in the $SOL space
MangoFarmSOL, a farming protocol on Solana, suffered an alleged exit scam and deactivated its social media accounts after customer funds were reported missing, Cointelegraph wrote.
The protocol, which promised “unparalleled yield in the $SOL space,” had scheduled the MANGO token airdrop for January 10. Users had to deposit Solana to take part in the airdrop.
Breach in project’s front end
Foobar, a pseudonymous developer of Delegate, alerted of a breach in the project’s front end on January 6. He had been MangoFarmSOL’s security auditor for a brief period. He suggested the protocol had suffered a rug pull in response to users’ inquiries as to what could have happened to the system.
The site and social media are down
Both MangoFarmSOL’s website and its X profile are now offline. Its Telegram channel is not accepting any more members. Insiders estimate the protocol suffered losses of almost $2 million.
Ponzi scheme allegations
Users posted images of messages on X, which the developer behind the scam reportedly left. The images display the developer stating he was forced to set up Ponzi schemes. He also posted that he had been involved in BananaMiner, another Solana-based yield protocol.
However, representatives of BananaMiner denied any connection to the Solana farming protocol. A representative of the protocol expressed assurance that Mango had nothing to do with BananaMiner, adding:
They (Mango) even asked me to help them with their project and I explained to them that there was a conflict of interest. Please don’t spread false rumors like that and do your research well next time.
Attacks on Solana are increasing
Scammers are increasingly targeting the Solana ecosystem using wallet drainers. Criminals hawking Solana kits have been committing more and more attacks. According to data of blockchain sleuth Chainalysis, there are vast online communities for SOL wallet drainer kits, with the biggest one being 6,000 strong.
