TechFlow reports that the Meme project BorpaToken announced on X the termination of its collaboration with cross-chain DeFi protocol EntangleFi, and has completed snapshots across Solana, Ethereum, Base, BNB Chain, and Arbitrum. BorpaToken will migrate to a new smart contract to fully detach from EntangleFi, rendering its token $BORPA now "worthless." Holders recorded in the snapshot will be able to migrate their tokens in the coming days.
BorpaToken cited repeated failures by EntangleFi to meet deadlines, bridge failures, poor communication, lack of transparency, and insufficient testing as reasons for ending the partnership. Notably, on June 27, EntangleFi's bridge shut down completely within 30 minutes of launch due to 700 transactions. Additionally, EntangleFi performed poorly during stress tests and failed to meet expected performance standards.
Earlier report, on June 30, Entangle announced on X that the official X account of BorpaToken, a meme token project it developed, had been compromised. However, BorpaToken's official X account later clarified that the breach occurred when an intern不幸 clicked on a phishing website link.
