The Kokomo Finance project on the Optimism Ethereum layer-2 network rug pulled for $4.5 million in assets. The project positioned itself as a non-custodial lending platform.After raising user funds, the project’s creators drained its liquidity pools. They also convinced users to send funds to them with a technique known as “ice phishing”. They then deleted their social media accounts and disappeared.

Total loss estimated at $4,500,000.