Bitcoin Forum

What happened: Yearnify copied website content from another project (Creed Finance). They were so bad in this copy/paste work that they forgot to change name of the token from the project they took content from :D. After some unpleasant questions, they decided to lock the topic. Therefore, time for scam accusation topic, tag and flag!

Flag Type 1 https://bitcointalk.org/index.php?action=trust;flag=2346

ANN https://bitcointalk.org/index.php?topic=5276264.0
Archive https://archive.fo/HwFAv

Website https://yearnify.com/
Archive https://archive.fo/pXFFr

Source https://creed.finance/


All this started few days ago when @qwertyup23 asked Yearnify about copied content, which they decided to ignore. It looks by that time there was no other content beside that part  https://bitcointalk.org/index.php?topic=5276264.msg55208226#msg55208226

This is Yearnify website content, that they recently updated. Notice how they forgot to change the name, so Creed it's still there. Talk about incompetence..

https://i.postimg.cc/KzCgtsMd/yearn1.png


This is screenshot from Creed Finance

https://i.postimg.cc/XJkgLWnT/creed1.png

Good research and team work from you and @qwertyup23, so I am supporting the flag.
Scam Accusations section is sadly getting full with new posts and I can't manage to read and examine all the scams :(

Great find. Incredible how blatant they are becoming, I'm battling with other Defi scam project trying to make their life harder and slow them down in their exit scam. I supported your flag too.

Thank you very much for creating this accusation against them! Unfortunately, they did fail to respond to my allegation and they deserve to be be flagged for plagiarizing its content.


It is actually sad that there has been a proliferation of a number of scams each day. It is relatively difficult to start to look for legit and genuine projects out there but with a number of people contributing to this thread, I can see that we are at least helping, in our own way, to make this forum cleaner and safer!

I'm just surprised how little has actually changed over the years. Somebody comes up with a somewhat successful idea - in 2014 it was Blackcoin, for example - then over the following months a series of virtual copycats are launched with very little (or nothing) new being added, like Whitecoin, Bluecoin, Pinkcoin, etc... but people aren't dissuaded by the idea of investing/mining because they feel like they are getting in on the ground floor of the next new thing.

The progression went something like this:

- memecoins
- colorcoins
- high-yield POS coins
- masternode coins
- ICOs
- IEOs
- STOs
- DeFi tokens

Now even today, 6 years later, the tactics remain exactly the same: wait for a groundbreaking idea to gain popularity and then release a cheesy copy of it, hoping nobody will notice its just a copy.

In any case, good job Rikafip, you are relentless!

These scammers seem to have developed and unending hard-on for this "yearn" I guess that is related to some successful DeFi project in the recent past and that is why they are trying to bask in its name and using that as the bait to get some one to send them coins.

This trend will not diminish but increase as more and more popularity is gained by DeFi and although many of us are trying to warn others about such scams very few will be saved but even then that is enough.

Flag supported and account tagged.

But if you look at the project yearn.finance, they have nothing to offer yet.
They will be forever in beta and once they pocketed huge money, they will vanished.
So these imitations of yearn or YFI, have been using the popularity of this crap yearn project.
People should learn their lessons by now. I don't know how much money they need to lose before they wake up to the reality that they are just scammers.

total scam, he use bitninja.io and cloudflare service for hide real ip.it is his contract address: https://etherscan.io/address/0xfd6fce575e3a117a0d889d1b32b5e3d5e5c98bdb You can see that with the same address he has created several tokens, one of them leads to another scam of the same nature with .tk domain:
https://[Suspicious link removed]/
the moment you ask him something that compromises him on telegram he banns you from the group

if you ask him. As he does to invest in the currency?, he shits with fear and does not answer, or answers with evasions and ends up kicking you out of the group

It looks like he managed to rake in almost $60k in ETH in less than 2 months, not bad for something that was pretty clearly a scam from the beginning. I guess people weren't doing their research on this project before investing -- this thread probably comes up as a 1st page Google search result.

Not bad ROI at all, considering low quality scam he pulled and amount of time invested. And sums an average DeFi nicely, in which only creators earn something, while rest loose money. For them it is indeed high-yield, and reason why we see so many.


This still baffles me, that people have no respect for their money, therefore hard work needed in obtaining that money so they are ready to give it away so easily without spending 5 minutes googling.


I guess you are one of those that invested in Yearnify? If yes, I hope you didn't invest much.

The worst deception comes because it was announced on the bitcoin page, hence many people have been carried away thinking that it was a true project

Reported to CryptoScamAlert
https://cryptoscamalert.com/crypto_scam_report/806

Can't this be the same team that created Creed Finance just making some extra money on the side?

Because of how much money they are making out of clueless investors so easily I'd bet that at least some of these new DeFi type projects are going to make two or more projects with slightly different whitepaper and roadmap and maximize their profit, which of course wouldn't be much of a problem if they had really anything new to offer and making more money and dump it on investors at the end wasn't their plan but it's rarely the case with these new DeFi projects.

That stuff is happening for sure, they are probably making much more then 2-3 projects. I've seen a lot of stuff, but I'm really short on time so can't dig and find proof at the moment, but it is obvious that they are copying from other projects and even hurting legit projects by using similar names. Saw a lot of examples.

That's true, they always make more projects just for personal gain with project names just almost similar, some even come from the same goal, but under the same person's control, that's the scamer, I'm sure they're in a group to do this.

If we had the time to do their research they would have known how corrupt they were in this inappropriate operation, never mind the new DeFi is no longer trustworthy if you suspect it.

Yearnify's website claims yearn.finance is their partner. I asked yearn.finance if this was true and they said no.

That's good to know but you should also know this that you cannot trust any of these projects owners. Because they may very well be running multiple scams and you might be asking one scammer the question about their second scam.

In any case I hope nobody will fall for these and will be careful in future in taking part in such projects. Some basic checkup in the form of a checklist is good enough to detect such bad players.

Claiming to be his partner is a ridiculous thing to attract a lot of attention on behalf of Yearn.Finance we have to detail how they do this I'm pretty sure they will use another name for other guises.

They are promoting on this forum and being caught long ago that means no one will fall in love with this project anymore as they will know the guise behind all this. Oh my god so many names like this with obscure DeFi.