Concerns are mounting over mysterious withdrawals from LENX’s treasury, igniting fears of a potential slow rug pull on the protocol.

Social media channels are buzzing with speculation following unexplained token transfers valued at millions of dollars from the liquidity protocol LENX.

Reports, including those from a pseudonymous user named AstroBoy and data from Etherscan, reveal that LENX Finance’s founders, John Kim and an individual known only as Paul, have reportedly moved over $10 million in treasury assets to a Binance account, leading to significant draining of LENX wallets without a transparent rationale.

The lack of clear communication from the founders has heightened anxiety within the LENX community.

Since the dubious transactions were initially detected on March 26, users on the protocol’s Discord server have aired grievances about the ongoing transfers to Binance, alongside concerns over the removal of messages that question the integrity of these suspicious withdrawals.