The LENX cross-chain bitcoin liquidity protocol has recently been accused of a $10 million rug pull after community members observed massive withdrawals of treasury funds which were then sent to Binance accounts.One of the co-founders, known only as “Paul”, claimed on Discord that he was “trying to investigate” the movement of funds, which have been blamed on the project’s other co-founder, John Kim.Conversations on Discord suggest that a remaining $3 million in treasury funds were protected, and that the remaining LENX team may have been able to convince Binance to freeze the account that received stolen funds. However, little has been verifiably confirmed to date.LENX is backed by the Frax Finance lending protocol.

Total loss estimated at $10,000,000.