Nima Capital Goes Dark After Dumping 9M SYN Tokens; Community Labels It a VC Rug Pull

The price of the native token for the decentralized finance (DeFi) cross-chain bridge Synapse (SYN) dropped significantly on September 5 after an unidentified liquidity provider on the platform sold nearly 9 million SYN tokens and withdrew all stablecoin liquidity from the bridge.

The official social media account for Synapse confirmed the liquidity withdrawal by an “unknown liquidity provider” and clarified that there was no security breach affecting the Synapse bridge.