Bitcoin Forum

What happened:
As soon as I visited their website, I remembered seeing their template somewhere else before, so I looked around and I was right ^{[xcryptos.io Ponzi scheme up to 4.29% daily interest (https://bitcointalk.org/index.php?topic=5331958.0)]}.

Scammers Profile Link:
holdfi.io (https://bitcointalk.org/index.php?action=profile;u=3358959)

Reference Link:
holdfi.io - Stake Cryptos and Earn Daily Rewards (https://bitcointalk.org/index.php?topic=5350581.0) ^{[archived (http://web.archive.org/web/20210723085544/https://bitcointalk.org/index.php?topic=5350581.0)]}
holdfi.io (https://holdfi.io/) ^{[archived (http://web.archive.org/web/20210723084718/https://holdfi.io/)]}

• FAQ (https://holdfi.io/resources/faqs) ^{[archived (http://web.archive.org/web/20210723085139/https://holdfi.io/resources/faqs)]}
• Similar platform:
  
  • xcryptos.io (https://xcryptos.io/home) ^{[FAQ (https://xcryptos.io/resources/faqs)]}

Additional Notes:

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Tagged and "created a flag (https://bitcointalk.org/index.php?action=trust;flag=2799)".

Now that's a flag I can get behind.  Supported.

I was initially wondering whether this was one of those DeFi projects that can earn you crazy returns, because I've seen a lot of seemingly legitimate ones (though I still wonder how those returns are possible), but then I noticed the referral tiers at the bottom and then it was obvious that this thing is a Ponzi dressed up as....whatever it's dressed up as.

As I just wrote in another Scam Accusation thread, I wonder if the DeFi space is just going to become a repeat of the ICO craze of 2017-18, where any serious project had basically no chance to see the light of day due to all the scam projects burying the good ones (not that I think more than a handful were good).  What's clear is that scammers--probably the same ones from the ICO days--have invaded DeFi territory, which is no doubt going to decrease people's overall trust in it.  Figures.

DeFi projects that you  are talking about and that are offering crazy high APY like 1000% (even though 100% is far above any reasonable rate) can do that because they are issuing their own tokens and they can print basically as much as needed, but it's another question whether that token can keep the value (obviously it can't so usually they simply fall apart like any other ponzi scheme.)

Good catch OP, flag supported!

Thanks to both of you for supporting the flag :)

You have a point... Despite giving smaller numbers, these should be counted as huge rewards "on a daily basis" and even without the referral tiers, there are enough red flags ^{[they're also giving a $20 reward for signing up]} to know this isn't feasible.


From the look of things, unfortunately, that's already the case ^{[at least for the past year]}.

Are there even legitimate DeFi projects anymore? A lot of them seems to be a scam or a Ponzi scheme nowadays which is a bit sad because people believe in this projects and they end up getting screwed over left with no money. I remember back then some of my friends are hunting these projects to invest and so far, no one has become a millionaire in any of them because they all go scammed and it seems that some of them still go for this even though it's a blatant scam. Good catch OP, one scammer out of the game is a good thing.

Nice work OP, I support flag and neg tag user holdfi.io.


Probably 1 up to 5 Defi projects per year is legitimate or less than 1% of all new Defi's. it’s a current trend and many are trying to make some money that way. this has already happened in 2017 with the ICO.
For example, after a huge DOGE pump, someone also pumps Shiba INU trying to make a similar story. Now we have a lot of newly created "projects" with INU in the name. should we ask ourselves, is there any INU legitimate today?

the answer is very difficult, there are legitimate projects, with team members who don't hide their faces, with original whitepaper, but you can ask me:

is it a legitimate project?

well, there are ways for projects to be scam even when they have real staff and an original whitepaper, everything modern scammers do is:

1 - they show the faces of the team members

2 - they show original whitepaper

3 - at the beginning of the project they are very active on the telegram

but when they get money they keep selling the currency, they go on trips and ignore the investors and as a consequence people lose money, this is a modern way that scammers have found to steal without being labeled scammers



have some projects that offer 900% APY

Supported flags. I am just still curious how a DeFi project offers a high return where other projects can't do it. I know there are some DeFi projects those are really working on something new and working as well. But most projects I think don't have any real concept. They are just taking advantage of HYIP. To be honest, even I don't try to do deep research about DeFi or NFT HYIP. All decentralized tokens are part of DeFi and I am not interested to know about NFT. I am just staying out of them.

Anyway, Good catch OP.