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RiskOnBlast

avoid.net/riskonblast→2/100·93% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:defillama]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·4E5LVX…Y3gU

Summary

RiskOnBlast was a GambleFi (gambling and exchange) platform launched on the Blast Layer-2 network in February 2024. Its anonymous team executed an exit scam (rug pull) on February 24, 2024, draining approximately 420 ETH (~$1.3 million) from over 750 investor wallets immediately after the IDO cap was reached. The project is linked by on-chain evidence to a serial fraud group responsible for more than $20 million in losses across multiple DeFi protocols.

Connected Entities

18 entities · 60 linked investigations
Organizations
□Railgun40□RiskOnBlast□Cosmos (ATOM)42□Ethereum□ChangeNOW□THORChain□Arbitrum□Blast□Binance□MEXC□Solana□ZachXBT□Scroll
Exchanges
△MEXC Exchange
Protocols
⌂Kokomo Finance2⌂Glori Finance⌂Magnate Finance
Tokens
♦Coinbase
Relationships
  • RiskOnBlast→mentioned with→Blast(70%)
  • RiskOnBlast→mentioned with→ZachXBT(70%)
  • RiskOnBlast→mentioned with→MEXC(70%)
  • RiskOnBlast→mentioned with→Arbitrum(70%)
  • RiskOnBlast→mentioned with→Scroll(60%)
  • RiskOnBlast→mentioned with→Coinbase(65%)
  • RiskOnBlast→mentioned with→Railgun(65%)
  • RiskOnBlast→mentioned with→Binance(65%)
  • RiskOnBlast→mentioned with→Solana(60%)
  • Ethereum→mentioned with→Coinbase(60%)
  • + 65 more
Also appears in
Railgun·40Polygon·54Saga·32MangoFarmSOL·2Base·68Cosmos (ATOM)·42zkLend·20Harmony Horizon Bridge·4DPRK·0Stream Finance·4+ 50 more

Connected Through

18 shared actors · 538 investigations

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

Have evidence about RiskOnBlast?

Timeline(7 events)

22 February 2024

RiskOnBlast IDO contract (0x25f8c342e430c85829ef5021c0720f0c60969840) deployed on Blast L2. RISK token presale opens.

23 February 2024

IDO closes after reaching 420 ETH (~$1.25 million) cap from over 750 investor wallets.

24 February 2024

At 14:35 UTC, IDO creator wallet (0x1eeb963133f657ed3228d04b8cd9a13280efc558) calls withdraw() on the IDO contract 17 minutes after cap is confirmed, draining all 420.50 ETH. Team deletes website and social media accounts.

25 February 2024

Coinbase tech lead Andrew Choi alerts the community to disappearance of project's website and X account. On-chain researchers SomaXBT and Amir Ormu begin documenting fund flows. Funds are distributed to ChangeNow (~$495k), MEXC (~$386k), Bybit (~$193k), Railgun (~$125k), and other services.

26 February 2024

CoinDesk and multiple crypto outlets report the incident as the first confirmed exit scam on Blast network. CertiK publishes on-chain incident analysis.

14 April 2024

ZachXBT publicly identifies Leaper Finance on Blast as a new project being funded by the same fraud group, with ~$1 million in laundered funds from prior scams (including alleged RiskOnBlast proceeds) seeded into the protocol.

15 April 2024

ZachXBT also flags ZebraLending on Base as a concurrent suspected operation by the same group (~$311k TVL). Following the exposure, Leaper Finance and Glori Finance deactivate social media and websites, consistent with the RiskOnBlast pattern.

Provenance & Audit Trail
Anchored on SolanaVerify on-chain9 Wayback Archivessrc:defillama

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (1 event). 9 of 12 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-sonnet-4-6

generated: 5/4/2026, 2:54:34 AM

last updated: 8/29/2026, 1:32:58 AM

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