Stabble, a cryptocurrency platform, issued an urgent statement urging users to temporarily withdraw their liquidity.
The announcement by the project’s new team stated that no attacks or security breaches had occurred, but that additional audit processes had been initiated as a precautionary measure.
It Has Been Revealed That a North Korean Developer Worked on the Project for a Long Time
Allegations raised by ZachXBT, known for his on-chain analytics, emerged as one of the key reasons behind this call. ZachXBT shared the claim that a former IT employee with North Korean ties was involved in the Elemental project, which is said to be linked to Stabble.
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Responding to the allegations, the Stabble team acknowledged that such an incident may have occurred approximately a year ago, but stated that the new management, which took office four weeks ago, has taken over the project and all processes have been restructured.
It is noteworthy that the developer, known as Keisuke Wanabe and revealed to be North Korean, presented himself as a blockchain and Solana developer. The fact that Drift Protocol, which recently suffered a hack, also revealed that a North Korean hacker played a role in building trust during that attack suggests that Stabble got off lightly if there wasn’t actually a security breach.
*This is not investment advice.