Suspected to be a rug pull scam, LENX Finance raised $10.22 million through LBP financing on January 7 of this year.

Several individuals said that on March 27, all Treasury monies were transferred, and that the official Twitter account had ceased to be updated at that point as well.

The LENX team closed a $250,000 seed round investment in Frax Finance on February 28, 2022.

Prior to that, the company was known as RenaissanceDAO, a disjointed NFT marketplace inspired on OlympusDAO.

About two weeks ago, there was yet another event in the bitcoin space: a rug pull claim.

This time, numerous investors claimed their money was stolen, placing the blockchain platform ZKasino at the centre of the controversy.

ZKasino continued to provide updates in spite of the accusations before vanishing from view and investors' money.

The latest development shows that a suspect was arrested by authorities in the Netherlands and over $12 million was seized in the process.

A 26-year-old man was arrested earlier this week over a ZKasino rug pull, the Dutch Financial Information and Investigation Service (FIOD) announced on Wednesday.

According to the press release, Dutch authorities began investigating the $33 million crypto platform scam on April 25. The criminal investigation began with online reports from the crypto community and information from FIOD's intelligence departments