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ammu40
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Kokomo Finance, an optimism-based lending protocol, has pulled an exit scam and stolen around $4 million from users through a smart contract loophole. Blockchain security firm CertiK reported the incident after noticing a price slippage and disappearance of social media accounts. The attacker executed the attack on the smart contract of a wrapped Bitcoin token, and after the rug pull, Kokomo's native token, KOKO, fell over 95% from $0.020 to $0.00065. Kokomo Finance is not the only DeFi protocol to rug pull users in recent times, as ArbiSwap removed over $130,000 from its liquidity pool earlier this month.