TechFlow news, October 18 — Orderly Network has issued a statement responding to the "IBXtrade suspected rug pull" incident, stating: "We do not support IBXtrade or its token in any way, and any claims suggesting otherwise are false. Orderly is currently investigating the situation and will take necessary steps to support the community. In the meantime, we will cut off any future collaboration with IBXtrade."
Earlier today, DeFi analyst Anon Vee posted on social media that multiple users have reported suspicions of a rug pull involving IBXtrade, an ecosystem project of Orderly Network. According to reports, IBXtrade launched its private sale three days ago, aiming to raise 2,000 SOL (approximately $3.2 million), with plans to refund unsold allocations. However, the sale ended up oversubscribed, raising over 160,000 SOL (about $24 million). Participants were originally expecting refunds totaling $21.8 million. Instead, the IBXtrade team created a poll on a website entirely under their control, asking whether to increase the fundraising cap. The poll was approved, and IBXtrade claimed to have refunded 65,000 SOL ($9.7 million) to participants. In reality, the team merely transferred these SOL funds to multiple addresses they controlled, while users reported receiving no refunds.
