Liquidity protocol Lena Network on Wednesday apologized for the "confusion" caused by its decision to move fundraising proceeds to cryptocurrency spot and derivatives exchange OKX, clarifying that the protocol is "here to stay."
Reports that the Lena team executed a rug pull – a type of crypto scam wherein developers raise funds for a project then disappear after taking investors' funds – first emerged earlier Wednesday, when on-chain data showed that the Lena Network deployer address transferred 753.11 Ether (ETH) to an OKX-linked address. The transferred ETH was valued at around $2.9 million at the time of its transfer, as per multiple outlets.
