Today, allegations of a ‘rug-pull’ by the Orbiter Finance team, a decentralized cross-chain bridge platform, circulated in the crypto community. As evidence of this, the deletion of the team’s Discord account and allegations that users could not receive their funds were cited. Amid these rumors, the project team made a statement. The team explained what caused the erroneous transactions and why the Discord account appeared to have been deleted.
Orbiter Finance team made a statement with Rug pull
cryptokoin.comAs you can see from , rug pull events occur frequently in the crypto world. Today, we witnessed another interesting event in the crypto world. The claim that the Orbiter Finance team, a cross-chain bridge platform, made a rug-pull has been circulated in the market. The background of this claim was that the Discord account was inaccessible. Additionally, some users commented that they were not able to receive their funds. Because of these problems, some have accused the project of rug-pulling. However, the decentralized cross-bridge aggregation Orbiter Finance team said customer funds are safe. He also explained the reason for Discord’s disappearance. In this context, Orbiter shared the following on the social media platform X:
The orbiter bridge works very well and there are no safety issues. The transaction may fail due to network instability or because the sender deleted the destination network identification code when sending the transaction. We will complete these unsuccessful transactions as soon as possible.
Sorry for the trouble caused to you, Orbiter Finance team would like to explain two things:
— Orbiter Finance 🛸 We’re hiring (@Orbiter_Finance) October 3, 2023
Before this announcement, several users asked why some of their transactions were not processed. He also questioned why the Orbiter team did not respond to these questions. Orbiter’s statement came after questions from these concerned users. In the process, some accused Orbiter of pulling the rug.
Transaction errors and shutdowns Discord problem
A crypto analyst known as DeFiyst noted that Obiter’s system adds the last four digits of the transaction amount and then uses those four numbers to determine the recipient blockchain. He noted that if a user manually changes the transaction amount, it is possible for this to cause problems. This is the likely cause of the problems, she noted. Meanwhile, the project team made the following statement regarding the deleted account on Discord:
Orbiter’s Discord is secure. However, Orbiter’s Discord account was blocked by the Discord team for no reason. We are trying to contact the Discord team to appeal. For this reason, Orbiter’s account is displayed as a ‘deleted account’ on our channel.
The project team concluded by confirming that the bridge and the community are safe. Orbiter Finance allows users to quickly and cost-effectively trade Ethereum native assets across multiple protocols, including Base, Arbitrum, Polygon, and Immutable X.
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