In an alarming sequence of events, Scroll ecosystem's stablecoin project, Essence Finance, has stirred significant investor apprehensions within the market. The project is under scrutiny due to allegations of a rug pull, triggered by the dramatic 98% price plunge of its stablecoin, CHI.
The situation worsened as millions in collateral were withdrawn from the project, amplifying fears among investors about the potential for substantial financial losses.
