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Author Topic: Is it the new crypto scam hiding in wait?  (Read 292 times)
rdbase (OP)
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August 13, 2020, 01:26:36 PM
 #21

That has to be the fastest scam I have ever seen worth so much. I think it topped out at $390million on the wallet when I checked it before they announced it officially as a scam because of the tweet put out by the projects creator there was a   "bug inthe rebasing contract" which created it to dump back down to $1. Which many of those youtubers (https://www.youtube.com/watch?v=OlTk31DrK2Q ) who were reporting on it said this was their insurance to put into the project since it will never go below $1. Undecided
https://cointelegraph.com/news/yam-suffers-technical-outage-following-scam-accusations

Yet many were smarter than all those "virgin investors" such as long time youtuber Crypt0.


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August 13, 2020, 11:58:11 PM
 #22

They even are even comparing all this defi stuff to playing a multiplayer role playing game like world of warcraft and legos. Cheesy

https://www.coindesk.com/defi-degens-gaming-ethereum-money-legos
It's all a big game but with real money involved.
Sounds alot like gambling to me. Embarrassed

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August 14, 2020, 04:47:05 AM
 #23

Expect more defi related scams in a few months.
 The hype is too fast, more investors are biting the bait, taking another risks. And this reminds me of previous old projects that ended up scam like ICO, IEO, etc.
 DEFI industry is booming, the rapid growth of this new project is something we should not trust easily. Certainly those defi uniswap which reportedly been used definitely as a scam by using fake tokens.
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August 14, 2020, 04:58:42 AM
 #24

I still cant fathom someone put $11 million worth of crypto in this Yam Scam -didnt realize the mashup of these two synonymous words would rhyme so well together. Grin

https://decrypt.co/38430/a-defi-farmer-pumped-11-million-into-unaudited-platform-yam

So they just lost all their funds in this or they are still getting these close to $0 potato? Huh
There is a joke in there somewhere but this is not very funny for those who actually invested into this fraud and lost it all in a matter of 24 hours.
Because I read some places they dropped to zero. Lips sealed
https://www.coindesk.com/yams-market-cap-falls-from-60m-to-zero-in-35-minutes
https://cointelegraph.com/news/yam-token-holders-burnt-the-hardest-after-price-plunges-to-zero

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August 14, 2020, 05:21:22 AM
 #25

Expect more defi related scams in a few months.
 The hype is too fast, more investors are biting the bait, taking another risks. And this reminds me of previous old projects that ended up scam like ICO, IEO, etc.
 DEFI industry is booming, the rapid growth of this new project is something we should not trust easily. Certainly those defi uniswap which reportedly been used definitely as a scam by using fake tokens.
   
   Maxreish you are right, we must be prepared for some DeFi related scams. It's what scammers do, they use any kind of hype to
lure people into their scam project. Like you I am sure we will see some big scam soon, people are investing in anything that has
DeFi tag, without researching, thinking, they just think about the profit. Now people should be careful where they invest and what
they hold!



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