Gemholic Vanishes From Social Media After Moving Investors’ Funds

In April 2023, Gemholic had 921 Ether (ETH), worth $1.7 million at the time, accidentally locked in one of its zkSync smart contracts, the GemstoneIDO, due to an error in the transfer() function. After Gemholic requested assistance, the zkSync development team confirmed that the funds were intact and developed a solution to unlock the contract.

On June 7, 2024, zkSync implemented its v24 network upgrade on its mainnet, which rectified the contract error and allowed Gemholic to access the previously locked funds. However, following this development, the Gemholic team withdrew the 921 ETH, now valued at $3.5 million, from the project’s contract to an unassociated Ethereum wallet.

Subsequently, the zkSync-based project has erased its digital presence by disabling all Telegram channels and X (formerly Twitter) accounts. These actions have led many in the crypto community to accuse Gemholic of executing a rug pull after making false promises to investors over the past year.

There is also KYC provider acting not appropriate.

We are once again dealing with traditional issues.

For more info visit: https://bitcoinist.com/zksync-project-gemholic-under-suspicion-for-rugpull/