The Solana ecosystem is facing another potential exit scam as MangoFarmSOL abruptly deactivated its social media accounts amid reports of missing funds. This incident has raised concerns within the crypto community and cast a shadow over the project’s credibility.
MangoFarmSOL positioned itself as a farming protocol on Solana, pledging “unparalleled yield in the $SOL space.” The protocol had announced a MANGO token airdrop scheduled for January 10, as disclosed in a Medium post on January 5. To participate in the airdrop, users were required to deposit Solana tokens in the protocol.
MangoFarmSOL Compromised Front-End and Security Concerns
A warning came from the pseudonymous developer of Delegate “Foobar” on January 6, indicating that the project’s front-end had been compromised.
Interestingly, Foobar had recently taken on the role of MangoFarmSOL’s security auditor. Responding to user inquiries about the fate of the protocol, Foobar hinted at the possibility of a rug pull..
MangoFarmSOL’s profiles on X and its official website have mysteriously gone dark. Furthermore, a Telegram channel with over 1,000 subscribers is no longer accepting new members. The estimated losses from this potential exit scam are currently pegged at nearly $2 million, creating a significant impact on affected users.
Screenshots circulating on X purportedly reveal messages left by the alleged scammer, confessing to being forced into creating Ponzi schemes. The developer also claimed involvement in another Solana-based yield protocol, BananaMiner. However, representatives from BananaMiner vehemently denied any connections with MangoFarmSOL.