1inch Network has announced its expansion to Base, a Layer-2 Ethereum scaling solution incubated by renowned crypto exchange Coinbase.

This strategic move aims to offer 1inch users access to deeper liquidity, lower transaction costs, and higher speeds, further enriching their trading experience.

However, the news comes as a warning regarding an impending exit scam by Magnate Finance was issued earlier today by user ZachXBT on X.

Magnate Finance exit scam fears.

Magnate Finance, with a Total Value Locked (TVL) of over $6.4 million on Base, is suspected to be linked to a previous exit scam involving Solfire that resulted in a $4.8 million rug pull in January 2022. The deployer’s address for Magnate Finance has been identified as the same as that linked to the Solfire scam, as …