Web3 Game Project Allegedly Hired Actors to Pose as Executives in $1.6M Exit Scam

On October 10, the development team behind the gaming project FinSoul reportedly executed an exit scam, taking $1.6 million from investors through market manipulation, according to a recent report by the blockchain security firm CertiK.

The FinSoul team is accused of hiring actors to impersonate its executives and raise funds intended for the development of a gaming platform. Instead of actually building the platform, they allegedly diverted $1.6 million in bridged USDT from investors for their own use. Blockchain evidence suggests that the developers subsequently laundered the stolen funds using a cryptocurrency mixer. This is not the first instance of misconduct linked to FinSoul’s developers.

Recent data shows that the price of FSL plummeted to near zero between 4:30 and 5:00 PM on October 10.