Gemholic, the team behind the defunct GemSwap decentralized exchange on Ethereum Layer 2 network ZkSync, is facing rug pull accusations after moving previously-inaccessible funds recently unlocked by a ZkSync network upgrade and seemingly deleting its social media presence. 

In April 2023, Eden Au, director of research at The Block, was the first to notice that the 921 eth raised by Gemholic had been accidentally locked in its ZkSync smart contract due to a technical difference between ZkSync's Era network and Ethereum's mainnet. 

ZkSync developers reported at the time that they had devised a solution to unlock the funds, which were worth about $1.7 million at the time but have since grown to $3.4 million in value with ether's rise in price. The funds were seemingly unlocked …