Bitcoin Forum

ㅤ

Hey @Ratimov, I think this  fits better in altcoin section since  this scam was exposed by others, you are sharing the news.

Regarding the Hatch DAO, we gonna see more and more of those exit scams unfortunately in the coming months as DeFi ponzi  balloon crumbles.

Not very surprising but their website and twitter are down already... The token price has been in a freefall (from $3.67 on Sept. 23rd to its current price of $0.0157). Just reading through some of the rekt traders comments on twitter about this, and people who called it for what it was early on:


https://twitter.com/khal_hodl/status/1308994621536690188

https://pbs.twimg.com/media/Ei0tJUzXYAEaD_J?format=jpg&name=large

https://twitter.com/aegis_eth/status/1309752805910077440

What a joke. This is like providing security and not giving a guarantee of it? How we can trust the technology if this is the way?
Regarding the exit scam, the level of exit nowadays is such that it is very hard to identify scams at initial phases. It seems exit planned such that know one could smell it.

I had this feeling because everything and every project this guy posted was going to the moon in a matter of days which was kind of scary and somewhere in my head i was thinking that this cannot continue like this forever.
Investors who followed him have made huge money already but it was on the cards and obviously in hatch everyone who invested haz lost full amount so it is again an eye opener that do not follow everything blindly and be very careful before investing.

All-Time High   $6.22 -99.8%
Sep 19, 2020 (10 days)

It's game over for this one, this is one ugly scenario and Decentralized Finance industry will have more of this, people are in a hurry to invest on every DeFi that comes along they love what they read about lock funds the so many features of DeFi that may look scam free but there are still some loopholes on it, that can be exploited.

The price has tanked a lot and the site is gone.  People who invested without understanding what Trustswap offers with their smartlock are left ruing their decision as Trustswap only locks team vested tokens .

Update :
   So HatchDAO exit scammed by pulling the liquidity and not using the locked Team tokens. Trusswap team and come out and issued a statement in their twitter account.

https://twitter.com/TrustSwap/status/1309630638857748480 (https://twitter.com/TrustSwap/status/1309630638857748480)

https://i.imgur.com/4KvaEGO.png
The Trustswap team have promised to look into their internal policy as well to see how they can safeguard from rug pulls like this in the future .

all are tempted by the results of some that they think are successful and use this to do things that could not be praiseworthy and usually many are interested because of the pseudo and not very proven moments of success.
many people who always play for aiming in terms of ignorance and passion for profit, which in fact the results are very sad. things that always repeat themselves and it seems that there is no way that can be done to reduce things like this.

This will surely put a dent on trust swap reputation. Washing hands just because the scammers out of their leash escape. Not sure how come the tech overuled or there is a error on thr smart lock? I doubt it. This was intentional and probably a way to launder money. I didnt enter hatch dao due to lack of eth funds but Im glad I missed it as price tank so much in a downward projections.

Now trust swap trusted investors are now in doubt probably.

It's ironic how they promote themselves as "immutable" and named themselves TrustSwap yet they can't prevent this kind of things and cannot be trusted at all. I'm suspicious about this because they suddenly removed their traces in the internet.  They might be part of the recent scam as they allowed the scammers to do this.

This will also hurt the reputation of TrustSwap and jeff as they were claiming to provide fool proof security and locking of liquidity to avoid rugg pulls and scams but even after locking by trustswap still hatch dao guys have been able to scam which is a big question mark on the claims of trustswap platform as well.

I hate these scammers especially people taking advantage of defi as well as dexes where they get the added benefit to stay anonymous , also the new liquidity mining thing has offered the scammers a new way to scam by instantly withdrawing all the liquidity and investors and holders are left with valueless, useless, scam tokens.

Not at all encouraging news for defi market. As expected scammers and fraudsters are taking advantage of defi trend but it was always expected but these scammers perform their job so well now that they look legit and attractive in first look so an ordinary investor can easily fall in their trap.
I hope these scammers will be traced and the funds will be recovered and the token holders will get the refund according to number of tokens held.

There are a lot of scams in the DeFi sphere now... A huge number of swaps are invented in a short time! And the main thing that surprises me is the fact that people bring their money there! ;D The mistakes of the past did not teach them anything! ;)