Bitcoin Forum

https://amplyfi.money/ (https://amplyfi.money/): Rug pulled after collecting 2,500 ETH from investors. Their social media and websites are gone

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Beer Garden Finance: Founder holds over 50% of the token supply in his personal wallet. When our community asked for more details such as a github link for the project, or timelocks for the tokens they were banned from the Telegram group.

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Burn Vault Finance ($BFV): Allegedly rug pulled. Their Telegram and social media no longer exist.

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CBDAO ($BREE): The project had a presale for $SBREE tokens which would be swapped for $BREE. One of the admin wallets exploited a backdoor in the SBREE token contract, minted 50,000 SBREE, converted it to BREE and sold it on the market, pushing down the price of BREE at the expense of other holders. The 50,000 BREE was sold for under 200 ETH.

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Degenballz: staking may steal 1% of your LP tokens.

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Emerald Mine (EMD): User tokens worth nearly USD$2.5mil that were supposedly locked under a smart contract were moved to another account. Fortunately, cryptocurrency exchange ChangeNow managed to stop the sale of 135,020 EOS. However, this only represents a small fraction of the total amount stolen.

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http://lv.finance/ (http://lv.finance/): Falsified audit results, after investors deposited their funds in they found they were unable to withdraw. The team has disappeared.

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Minions Farm: Has cute Minions but will access all your assets when you connect your wallet to the Minions Wallet site.

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https://steaks.finance/ (https://steaks.finance/): Developers apparently had trouble interacting with their own timelock. Though some consider it may be due to a problem with their code rather than ill-intentions.

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http://tomatoes.finance/ (http://tomatoes.finance/): Hacker triggered simple permission granting and withdrew tokens.

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UniCat ($MEOW): Back door in smart contracts allowed UniCat to keep control over users’ tokens even after they were withdrawn from the pool. Around USD$200,000 worth of crypto has supposedly been stolen.

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Unirocket ($URCKT): Apparently rug-pulled, cannot be located on social media.

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http://yfdex.finance/ (http://yfdex.finance/): Project promoted themselves on Twitter for 2 days, took a total of USD$20mil of investor funds and absconded.

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PAL Network Exit Scam

https://medium.com/@palnetwork_/pal-network-concludes-blockchain-project-pledges-remaining-funds-to-world-vision-5e3b72d0724c

@luckyflop, can you please add also the corresponding ANN links of those projects, if there's any.
Just found only couple of them

CBDAO - https://bitcointalk.org/index.php?topic=5265154 -deleted the content and title thread (but you can see the original title at the 2nd post)
yfdex.finance - https://bitcointalk.org/index.php?topic=5274050.0 - deleted (the poster realized it is a scam)

I’m sure there’s a lot more scam DeFi project than those on the list and I’m curious if they are still running considering that some of them are still have an active site.

Anyway, this is a great list of scam projects and if you look at it closely they almost have the same strategy. This is a warning to anyone who are planning to invest on DeFi project without a proper research about it, always take cautious.

I was follwing a defi project couple of weeks ago its bounty campaign was also posted in this forum but soon after they announced about the tokensale they just closed their website and all social media channels which clearly indicates about an exit scam, the oroject was called yearn insurance finance with yif as token ticker.

These are just a tip of the iceberg, there are many fake DeFi projects everywhere this days, here on this forum, check out bounty section too, there are some useless scammy DeFi bounty projects there and also twitter social media too, I don't blame these scammers, they are here to take advantage, what about those promoting these projects and those investing their hard earned money on these projects? People need to learn, learning should come first before anything to successfully avoid these scammish projects, stay safe everyone and do deep research

Very informative post, this is necessary to aware crypto community through this kind of informations anyways couple of defi projects in the list were looking genuine to me at the time of beginning because it was presented with attractive concept now this is very unfortunate to see the projects have existed scam, scammers will always come with this kind of scam projects so we must be very careful before investing in any project.

Cant forget this one. Ive participated on this event good thing I only throw 1eth for the LP tokens. I really thought they could pulled of something unique like core did. Cause we can diffuse the LP tokens on uniswap pool and the fees will be credited to stakers. The idea is really good however, I cant imagine why they fuck up with the 2.5k ether.

Yeah it is. Only invest with what you can afford to lose. Not all defi projects like Bree which has been trusted for a long time will do na exit scam. Anyway thats how it is. Just be careful everyone.

Good catch and summarize @OP but I don't think it's necessary to create similar topic that has been discussed before [1] [2] So, it's better if you post your report on these topic and lock this topic.

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[1] https://bitcointalk.org/index.php?topic=5276012.0
[2] https://bitcointalk.org/index.php?topic=5268573.0

Is not it how they attract investors? They make it visually pleasing to convince people that they are a trustworthy and profitable investment. However, some of it indicates a visible sign of scams. Despite that, people don't analyze the risk of it. It explains why assessing the details of the project should be focusing on. Protect yourself and assets by learning to consider the information on the project, such as their core objective and contact details. We should always be careful about doing investment especially on those Defi projects because after we see an increasing number of projects, we also notice the number of Defi scam projects.

There's more to come so learned from these scam projects and never invest again easily. There are some project that even exist for a long time and after that, they are gone now after scamming so many investors. The DeFi hype is still here so the scammers are still making fake projects to create hype and to scam people. This is just a small list of many scam projects, take this as your reference for your future investment.

Yes, I open up a thread about one of those scams here: Yield farming Unicats allegedly stole $200k thru backdoor code (https://bitcointalk.org/index.php?topic=5280344.0).

And what's scary though is that this is just the beginning, the hype on Defi is still there and <insert name here>.finance will continue to flourish as long as there are investors who are willing to hand over their hard earn money to this cyber theft.

Now almost everyone interested in defi. So, Scammers taken this way. So much defi project is success now. But, This does not mean that all projects are trustworthy. 

This is very helpful list for cryptocurrency investors.

We see this type in so much scam project. A scam project is a source of great frustration for investors.

It is kinda funny how they still manage to attract users.
These times everyone should do a lot of research before stepping in for a project.
Where did you found all of this info about the projects? It may help us to move forward and avoid such scams. Thank you!

Now, there are indeed a lot of DeFi projects that end in scams, one of which is like the project you mentioned above, we as bounty hunters must be more selective in choosing projects before participating in them now.

I am sure the number of DeFi scams will continue to grow in line with the high interest of investors in the DeFi project.

for me, this is great attention so that in the future investors will be even more cautious about the emerging DeFi project.

with defi hype this is just a small percentage of what to come

This is exactly what I'm looking for a compilation of list of DeFi scams so when I would like to invest to DeFi projects I can make a quick search here if they are scam before doing a deep research about them. This is really helpful

Good catch @Jawhead999! These lists are extremly helpful when it comes to detecting possible DeFi scams. And from what I have seen the lists are getting regular updates. I will of course bookmark them and check them out before I invest in a DeFi project. It's crazy how many scammers are out there. And even if there is a decent project after a few days several clones are popping up.

Anyway, thanks for sharing this here!

Somehow i think that this is going to be very long list because when you look at those amounts that scammers are getting, it will surely attract flocks of scammers to do their own DeFi presales.

If what you provide for this Defi scam project is correct, I think it is very good before investing take a look at your threads, especially for newbies who are just investing for the first time, but you do not provide details for this information, you should provide AAN Bitcointalk Link or Bitcointalk bounty the link, to make it easier for everyone to know that this project is a true scam.

Didn't know the number has grown like this, who would have thought that after all the potentials which Defi seems to display that the level of scam will grow to this number and slowly looking like what happened during the time of ICO. Also, another concern is that, with the hype still around the number of scam projects will likely increase since most people are yet to learn their lessons and how to research on good projects.
The best way to invest in any project has always been to study the project thoroughly, it is through this way that a potential investor will know if the project is good or not. I believe if people can actually do this, many projects won't succeed in scamming their users.

rabbitwallet.org also scam guys be careful as a lot of people said that they lost their money.. Its on Binance Smart Chain and tron blockchain

a rather bad start, should be when they (DeFi) come as a substitute for ico or Ieo which are no longer in demand, they should be committed to making a better project from the next project so that in the future they can become the most popular industry. I'm not following the project that's all on your list, but at least this can be a reference for all of us that now there is still a danger of 'scam'.

This is very informative. I suggest everyone who knew scam should report immediately to avoid further money loss to investors. I believe many will appear in this thread whom experienced in DeFi scam.

Include Dottery in the list. It is confirmed that the team have gone missing innthe telegram group and even deleted their accounts. DOTY price's went up to $450 to now at $10 with zero liwuidation in uniswap. These defi things have really gotten worst, scamming left and right leaving their investors crying over their hard earn money invested in rugpulls. I think investors must realize the risks of investing in new defi projects.

The cause of this problem is the fact that there were a lot of people who actually spent a ton of money on stuff they do not know because it was "defi", there was tons of people who made a lot of money from crypto in the start of the defi period so others saw this and assumed that they would be making a ton of money as well, that is why I assume people invested into a different million types of defi just because it was defi.

This caused scammers and bad people to start new defi projects with no intention of making a good project, only so they could get funded by these gullible investors and steal their money. Same happened with ICO period as well, it went full circle to a level where a joke coin appears telling people if you invest to it they will take your money and spend it for luxury and themselves and people still invest like an idiot.

Until recently I couldn't differentiate between a scam and legit projects. Therefore, I never invested in DeFi or ICO projects. I didn't want to take a big risk and didn't want to lose a lot of money. I prefer to join airdrop programs and also trade on a big exchange like Binance.

WARNING: CoreX
Very quick DD, but lots of warning signs. Claims that contracts are written from scratch. They aren't:
- Fee Approver - Copy of CORE's code
- CXF Token - Generic ERC20 mintable token
- SDE Contracts - Copy of some other crowdsale called "CMRPDCrowdsale".
- CoreX Vault - Copy/frankencopy of CORE's code

But none of the above matters compared to this. The SDE contract (0x5584443288371BEF8b4B4405B2a31A75C378c1e4) sends all the ETH to another address: 0x9ab49f64094051e7a39a444428b88d4b3923efbd. 0x9ab49f64094051e7a39a444428b88d4b3923efbd is closed source, but if you decompile it, you will see that it matches OpenZep's RefundEscrow contract (https://github.com/OpenZeppelin/openzeppelin-contracts/blob/master/contracts/payment/escrow/RefundEscrow.sol). The "creators" of CoreX didn't even bother to rename anything, we queried their contract with the ABI from RefundEscrow. The beneficiary address is 0x82E73Dd96870989930A902F3b440DedB5C573bf1.

In summary, all the funds sent to the SDE are then sent to the escrow contract, which the beneficiary can withdraw. Check 0x82E73Dd96870989930A902F3b440DedB5C573bf1. Lots of Tornado transactions, probably done multiple scams prior to this.

Learnt about CoreX from Unibot advertisements. Unibot should look into reviewing the quality of projects they're reviewing.

Nice one @OP , although there are more, DeFi scams are everywhere now, here's another DeFi scam you ca add to your list  YFIR.finance created a bounty airdrop, here's a  link to d topic : https://bitcointalk.org/index.php?topic=5274436.0
They promised the bounty hunters that they were going to airdrop over $1 million and that were gonna list at "uniswap soon", but after about three weeks, I stopped hearing anything about them, so I went to check them out on telegram, but I couldn't find them on either on their social media "Discord and Telegram", it's seems they have deleted both of their social media accounts, then later I saw a scam accusation post about them here on BTT,although I have no idea about how much they raised during the bounty period, scammers are really making use of the magic DeFi word to trick investors, we should just be careful, and try not to fall into one.

I knew right from onset most of these DeFis hype will end up in scam its just a replica of ICOs scams that trends in 2017 what baffles me most is how can investors just throw in money into any project without cogent proof that the project is viable and profitable in the  long run?
I am not surprise that some investors fell for it, it is simply because some of the bogus bonuses dangled on them for investing on the project that is why greedy investors invested blindly without any caution.

Don't understand what's going on in crypto industry.it's really hurting after seeing those projects are scamming.recently i invest on defi project like dia data, dego finance, oikos & many more.most of them were good but now i'm very confuse about new defi tokens.now everywhere is full of fake defi & scammers.that's really discourage me along with others investors, to invest on upcoming defi tokens.

This is a good list that is important for everyone to view in order to know what fraudulent projects might look like. It is a pity that such lists appear only after the project has deceived people and nothing can be changed. It would probably be useful to have sites where experts can Express their opinion about the project and if there is a great risk of fraud, then warn people about it.

this is just a small list . Many and many of scam defi token were launched in this defi hype cycle and many newbies lost their money. A small research can save us from these kinds of scams.

Since the DeFi boom, almost every project want to associated with this trend and it will be the target of scammers. This is a warning for investors and those who have interest in staking and delegation

Wow, good job mate,I bet it took some time to put all this piece together,but with the hype on DeFi for the last two or three months, I believe there are even more than this, since DeFi became the new trend in the crypto sphere, there has been alot of DeFi scam projects here and there, looks like scammers didn't take time to adapt and start following the new trend, they saw how YFI moved from 0 to $48k,immediately they started naming their scam tokens similar to it, example YF MOONSHOT and YFIR in order to deceive investors.  ::)

it looks like there are many more, you should choose this Hype when you want to invest in Defi or buy an ICO,
many scammers come with the name Defi, and thank you for providing a list of scammers,
there are some that I don't understand, why do people want to buy it ?, even though it's clear their team is not clear

That is really why we cannot assure or we have no assurance that even if it is a DeFi platform it can really benefit us once we invested to it. Its a good thread to widen and open the eyes of many crypto investors and to start for them to make more frequent researching for a much worthy DeFi projects.

many Defi project try to scammed, so we need to more research before investing. in 2020. defi changed the crypto market face thats why many scammer are coming with defi project. i think this is the fact, if defi impact down.bye the way, thanks for important info.

Thanks for the list. I’m sure there's more defi projects to add on your lists since I see many defi project lurking in social media to attract more investors. With the hype in defi project, there are still people who truly invest in this kind of project just to earn money. But, they should be more careful in choosing to invest, scam is everywhere, in this industry.

This is what we have been talked by my co-telegram users in our group. As we have speculated that defi projects may die because of scam again. It is really sad for crypto that when there is a hype in market, scammers are always find a way to duplicate it. They don't stop until the people keep on investing. I hope we can avoid this shit scam projects and many people will be enlightened to stay away from them.

It's common now that many can easily be tempted to buy even these scammy projects, soon they will be able to realise that most of DeFi projects now were like ICO projects back then that have no value or trading volume now. However, there are really beneficial DeFi like those in top of coinmarketcap defi list that can make us profitable thru trading them in short term, some can be in long term like Link. But better focus in short term for defi for less risky investment.

if there is a hype, the scam project will also come into it. it's a chance for some bad people to get advantage in a bad way to collect some money. till this day, i believe that some people and investors don't know what Defi is and how it works. they just known that DeFi tokens have a good price. that's why there are some bad people will take the opportunity to make a scam projects.

Just take a look at all Y-Defi and .finance related projects.
Most of them are trash and very poor quality projects with plagiarism issue as common problem.
Some managed to publish their fake team members.
Maybe we can just make our own list of legit DeFi projects. And the list will be short and few.

More projects will be added to this list. Mostly Y series DeFi project. There are many Y series DeFi project that looks suspicious to me. Many projects share one single group but people still buy those token or maybe they are market manipulation. All these scam projects can make a bad reputation in the overall DeFi market and those project that is strong in its concepts.

I believe https://claim.unidark.org/ is also a scam.

The presales asks 1ETH for 2UNIDARK.

Look below the telegram information:

I'm sure there are more defi projects that should be on your list.
but thanks for your efforts to make all that list in your thread.

it looks like the fraud will never end. scam projects are always there and are always looking for opportunities to keep filling their pockets. but I believe that now people are not that innocent, they will definitely do an analysis before giving their money.

yeah list is small  compare to the huge hype that defi brings , maybe the scams listed by him are only  the latest but he didnt include the past defi scams as i dont see some that im familiar with . this is better than nothing because this gives  us awareness that these projects are now the new scams on defi  . few of  the names on the list are funny and not serious , i think they are way too obvious of scam but investors would not care anyway  . reminds me of a simillar project on the past with the  description of scam but still they got some sales lol

In the early days of defi, crypto turned crypto into a crowd and competed with the arrival of defi and those who used it to commit fraud with an attractive web interface. In addition to an attractive web appearance, the price is quite tempting.

Very helpful about this list of announced scam projects.

So that everyone will not be deceived.

PAL Network Exit Scam

https://medium.com/@palnetwork_/pal-network-concludes-blockchain-project-pledges-remaining-funds-to-world-vision-5e3b72d0724c

This is just the beginning of all these scam defi projects, I am believing there are numerous number of scam defi op didn't mention but that's not the problem either, in as much as the space is an anonymous decentralised system, scammers are liable to scam investors no matter how smart you may seem to be, hopefully, I think if investors can do a thorough research about projects before investing, it would be a nice step to be taking so far.
I think you should add this one to the list OP. It would be better if included among the ones at first page.

DeFi has a long list of scam projects, I would even say that we have seen more scams from DeFi than the ICO era scams lol. Rug pulls are becoming such a common practice and, what's worst is so many big social media communities/users are even promoting such projects.

CRS

The contract was exploited by a hacker.

https://etherscan.io/address/0xb76df3341040d7eaab0bbd9ca0ee6cc7969c5912#tokentxns

He managed to get 11 Trillion CRS.

This is the reason why I'm never, ever, ever, ever investing into these new projects whether it was in the ICO hype last 2017-2018 or now the DeFi hype.
Every money for me is important and investing it into these new projects that has a high risk will be my worst decision that I will make in investing.

I'd rather invest my money into something that I know will give me profit in the long run since it has a lower risk than investing into these new projects that has a high chance that it will turn up into a scam or an unsuccessful one. Better if you will just wait for the hype to be over then invest into the DeFi projects that will remain.

It is not my intention to attack either party, but there are people who have an aversion to investing in the hype that is currently popular. Profit-takers are mostly people who enter from the beginning to the middle. Meanwhile, investors who enter in the middle are more likely to be exposed to fraud.
Most of the people called this a good opportunity, and most of them called it a destroyer of the cryptocurrency ecosystem.

Man Yfdexf.Finance was one of my biggest loss by a scam. Hopefully, community members would be able to track down those MFers who were behind the Yfdexf.Finance scam.

It is difficult to understand which project is a scam because it is a decentralized market and, as a rule, we do not know information about the team. Defi market is very young and therefore we have not yet figured out how to identify scammers

I have never been a part and or encountered any of the listed scams, thank the universe. Its good to know now tho beforehand, its easier to stay clear from these scams.

Most of the listed project aren't that well known in my opinion so unless you dig really far into the depth of defi projects you won't encounter these project but it's still a good precaution for those interested in defi project regardless.
as I see most of them are following the path of already popular defi project even trying to imitate, if they publish code in github i guess they all just copied the already existing code from other well known project and just did minor edit lo. people should stay away from this kind of scam for real.

Every time scammers come out from the hole when there something new come and make a hype. They use the hype for scamming peoples and approach them as they are legit and worthy to invest.

Yeah, right now i see a lot of DeFi projects pre sale is ongoing also their promotion through bounty campaign. Scammers are now very active to scam by developing fake DeFi projects. If those are decentralized so it’s a bit difficulties to find out real projects. I think still this year is going end on DeFi trend.  

A few years ago, I made a conclusion for myself if a project is trying to be like two drops of water in the name, in the scope, in something else to another successful project. Then it will most likely be a fraudulent project. Those who want to work and create their own product will never disguise themselves as another more successful project.

Honestly it is harder to follow successful ones compared to scammed ones. Because scam ones are very hard to deal with, they are not really that easy so handle and trade and basically be part of it because you would face with problems already since they are basically scam so they will have to convince people constantly, look at sushi for example they did something horrible and kicked the owner who did it but trying to convince people now.

So, the good ones will keep giving you reasons why to stay with its price and success, whereas the scam ones will keep giving you reasons not to leave, and if you think reason to stay and reason to not leave are the same things you are wrong, reasons not to leave tries to keep you there against all the bad things whereas reasons to stay is the ones that are good reasons.

Follow up to CoreX scam. These guys are the same devs as from the second Yearn Evolved (YEVO) scam.

As you correctly found out the address 0x82e73dd96870989930a902f3b440dedb5c573bf1 is the beneficiary of the CoreX fund raise contract. And the same address was the beneficiary of the YEVO fund raise, which exited with the funds without ever launching.

https://etherscan.io/tx/0x3ffd69862e5844b437ceac23381fb5267cb0629812ec82fbe1d380ff5144170b

https://etherscan.io/address/0x64995fe5b2cbcbf40d4a5160abc4c086c8c972ee#readContract

I'm just confused about what's going on in crypto market.I get disappointed after seeing those projects are scamming. recently i invested on some defi tokens like dia data, dego finance, oikos & etc. most of them were good to me but now can't trust on new defi tokens.even everywhere is full of fake defi,promoted by scammers.that's discourage myself along with others investors,for invest on upcoming defi tokens.

This is for sure, defi projects appear too many, they don't release details about development team members. Everything is very unpredictable, so don't follow the movement, carefully choose projects.

Nothing has changed in the cryptocurrency market since the hype DeFi. Just like in the days when ICO were popular, there were many scams programs. And all the scammers that promoted the fraudulent ICO have now repurposed and are promoting the fraudulent DeFi.

This why make me not interested anymore with Defi project because they not trusted and left project without have destination at the future, the same with scammer promoting an ICO project without have plan for listing on the market. I know how many investors have been swallowed up by the false promises of the owners of the Defi coin. They give promise with real partner and look giving real impact for the world but the least of project Defi is scam, now we can see how many their coin become shit without have value anymore because developer and the owner have got more from investor money. Now they will find new way what the next project named to get list on their planning to make many investor become lost much money.

​​Axion Network exploited, attacker, drained $0.6M. The attacker got 79B AXN with stake/unstake exploit. Then he moved 79B to Uniswap taking all the liquidity. TornadoCash was used as an anonymizer. Axion was audited by Hacken and Certik.

When your smart contract is audited by 2 reputed companies -  $17M mcap company (Certik) and Hacken & it still gets hacked, what can you do?

Message from AXION Community Admin -

There seems to have been a minting exploit in the contract with regards to staking. We're talking with the dev team and looking into potential solutions. This was not a rug pull as many are claiming, dev fund hasn't moved. We'll address this more over the course of today.

We'll likely have to do a rollback and replace liquidity after we address the bug.

DO NOT BUY AXN RIGHT NOW

The site has been taken down until we address the problem

The dev team is working hard on this. We will find a solution. Axion will be restored. There were nearly $500K stolen which is nothing compared to the dev fund. Though things look crazy right now, it's important to keep calm and not contribute to the fud. We have come very far and will certainly overcome this small hurdle as well.

Read here : https://t.me/axionofficial/124953 (https://t.me/axionofficial/124953)

[/sub]

I was lucky I didn't join any of those projects. There is more project that was listed on uniswap and rugged by developers. Like this KPR rugged 1400 ETH: https://etherscan.io/tx/0xb4a01b32a11c11438f4110ca93e5f18cba7962d50ea73ea1bf2a6b0245a042d6

Another one is here. dev mint extra tokens and dump with 350k rugged: https://etherscan.io/tx/0x7c2f46015e5433e523fe59b9ace8e095b01619275fd6882bd90ec1cfc3cf3498

This is what makes the high risk investment in defi projects, that the project owner and his team make the team anonymous and after they collect money they can close the site and close the project pages on the social and when they create another project, no one can recognize them, this enables them to deceive more people. no one should be fooled by the name Defi, but everyone should make sure of the quality and capabilities of the project because the projects that want to steal the investors at these times are stealing under the name of defi and they have nothing to offer but deception.

Thanks for sharing those, seems like an endless list, yesterday I was a witness a 77 ETH scam through Bounce finance pool and I couldn't believe that, exactly when smartcredit wanted to announce the pool ID , some scammer made a similar pool name and post the link in their telegram channel and could scam 77 ETH easily, now they don't even need to know to code, everyone can make a pool in bounce finance like a glimpse.
https://i.imgur.com/FlqvPXs.png

This list will be bigger with every week. Especially if we will see another btc dump

It seems to me that this list can be enumerated endlessly, from the smallest (these are the ones that are listed on the uniswap and as soon as they fill in a little liquidity, the scammers take all the funds from the pool, there are thousands of them) to the big ones who worked on the site, developed farming and interested thousands of people, and then with millions went into the sunset

There must be a lot of fraudulent projects whether in the present year or in the past year or in the coming years,
scam projects will definitely continue to exist, we have to be smarter to choose which projects we will follow,
we have to be more careful

of course there are many others that are still unexplored and have disappeared. no wonder there will be an update list like this in the future because of the many scam projects. maybe some people here can add it so that people know and can identify scam projects like this in the future.

isn't it the same way? many new projects end up scams or don't survive. so regardless of the definition or not the project, still has a big risk of a new project. it's just that the hype in defi is on the rise and it can easily go up / down very fast.

Yes you are right lot of defi project gonna scam at running time so i can't believe easily a new defi project. However defi hype over time coming soon and this hype never alive very long because every investors alert now and there not try invest a new defi project. Thanks OP for share some defi scam project and you can continue adding new scam project.

This amounts of frauds done by these defi projects is much with a short period of time they surfaced. It's been long I witnessed such scams. It's better to invest in good altcoins than shitcoin coming to us in the name if DeFi.
Most are fraudulent projects with no team at all.

The farming of MASK will be started on Oct 30th, 2 PM UTC
.Website: https://anonymousmask.finance
Contract : 0x9FaF937bB5C46952bb8395cb2A837cb49422528d
Telegram : https://t.me/AnonymousMaskFinance
Airdrop from..
https://docs.google.com/forms/d/e/1FAIpQLSc2S3xoiBEXNk5KdgVkfch-TMeRObnABLC50XUFdeQ4TzHKDA/viewform?gxids=7757

And your list is small!

There are many that are also scams and still require ETH to receive payments!

The truth is that you have to be careful with them...

It is very helpful information to every investors here most especially to every newbie in this crypto industry. Because of this thread they can now eliminate the following DeFi project that is fraud and will definitely scammed them. Newbie investors were also encourage by this thread to be more vigilant and wiser before entering/investing to a newer projects.

Of course, the list is very small in comparison of what is really happening in the crypto market, as a drop in comparison with the ocean, but I just wanted to give a very small example to new people some sight about how cruel this market could be and with a simple mistake they could lose limitless money and no one could track them in most cases, UNISWAP had a great idea but made it easier for scammers to pull the rug , same as what balancer did, seems like this story never gets old and every day I hear new things about new scams on those two,

I was suspicious and it was true that http://www.yfdex.finance/ was indeed a project scam.
and now the defi project season is now indeed many who take advantage of this moment to create a scam project because DeFi is hype and hot, not to mention some people who have malicious intentions to make the DeFi project a scam and lure victims

they are scammers. I mean admins of AXION telegram chat https://t.me/axionofficial  . they scam my wallet. I think they have stole all community money also. there was no any hacker.

If the OP will update his list, I am certain the list will be long. We will be seeing more of DeFi projects in disappearing act once they drained money from their naive buyers. The concept of DeFi is good, but only if they are deployed properly with honest team behind. Otherwise, this is just another hype that will go down in crypto history.

Exactly, it is not easy to list all the Defi scams in reality. However, you should try to continue updating the list on the thread, so you can get many Defi scams there.
Moreover, we know that DeFi is booming right now. as usual, something hype and booming will invite many scammers to get involved, as was in ICO.  ;D

I am not surprised to learn that so many DeFi projects are scam, as most DeFi are created for fundraising. I appreciate the list of
DeFi scams, at least give awareness for all of us to be careful if you want to invest in DeFi projects. If the opening post always carries
out updates list, DeFi scams will definitely be a lot, therefore I am not really interested in investing in DeFi projects at this time.

Scammers innovates their tricks/ways to scam people, they are like projects that keep on developing everytime. Whenever there is a new trend they will exploit and take advantage of those greedy investors. I never see them leaving such activities as ling as there are projects that make the cryptocurrency relevant.