Abracadabra proposes wind-down with MIM stablecoin backed by about $0.04 per token
Reported: Abracadabra (MIM) ABRAC (Token)
Compiled by ScamMarketCap from public recordsHappened Oct 16, 2026
- $21M
- Reported by Web3 Is Going Great
- 0
- People affected
- 0
- Joined here
- 0
- Open to a lawyer
According to Web3 Is Going Great, Abracadabra is shutting down after hacks left about $21 million in bad debt, with 22 million MIM backed by about $900,000. The report says project-controlled wallets sold MIM and moved about $8.3 million after promising a peg-restoration roadmap.
From the news: this case was opened from a report by Web3 Is Going Great and hasn't been verified by ScamMarketCap. If it happened to you too, add yourself to the case.
Sources
This case file is compiled from public records and established reporting. Status as of the last update, Nov 1, 2026.
Case files summarize court records, regulator actions and established reporting.
Comments
Did this happen to you too? Share what you know: dates, amounts, names used, websites and wallet addresses.