💩DeFi scams [history]💩

[Atomicc]

New SCAM on Binance Smart Chain (BSC) platform.

They just making exit. Deleting public telegram chat, parts of their WEB, deleting LinkedIN accounts. A lot of users loste their funds. Here is a full description: https://bitcointalk.org/index.php?topic=5283841.msg55550111#msg55550111

[zasad@]

Ethereum DeFi Token Plunges From $1.5M Market Cap to $15K
DistX's founders left the project and the price quickly collapsed. But not before some last-minute transactions.

https://decrypt.co/51591/ethereum-defi-token-plunges-from-1-5m-market-cap-to-15k

"DeFi has suffered from a rash of rug pulls and exit scams as the market heats up and everyday investors try to get in. It's also witnessed plenty of projects fail or slowly fizzle out."

[zasad@]

Recent scam in the Solana ecosystem.

https://twitter.com/defiyield_app/status/1428491595863703553?s=20
"The Biggest Rug on Solana just happened.
@luna_yield
 Website, Twitter, and telegram got deleted.

The project held an IDO on multiples platforms. One of them was
@FinanceSolpad
 

@FinanceSolpad
 should be held accountable host an Exit Scam in their platform."


https://www.coingecko.com/en/coins/luna-yield

[akiho yoshizawa]

there should be a special comprehensive regulation, to regulate the defi project in order to provide a sense of security and protect investors,, For example, presale prices are cheaper, many are interested in buying with the aim of maximizing profits, but only a matter of days jarga falls down,, this is so painful, and finally many people think this is a fraud project.. from the list above actually a lot of things like that... I hope it will be done soon,,,

[777Jolami]

There are many other defi genres such as Titan, polygold, and bufferfly located mainly on polygon. Most people pull the carpet in a pathetic way and that's shameful. Whale sterilization processes are included in the docs but hardly help with pump/dump issues. It is also a bad thing that deflation goes against the meaning of some good projects..

When performance has not been enhanced and the desire for sovereignty has not been fulfilled, it is these outstanding problems that have undermined everyone's decentralized finance dreams. Lol

[guydin]

Personally I didn’t experience any scams. I mean I didn’t lose money there. Of course, I saw them, but something prevented me from investing in them, so I didn’t lose my money there. Nowadays, there are a lot of scams, as scammers see this hype and think that they will find some newbies and earn money from them. But when this  crypto hype is over, we will see more really good projects I hope. 

[zasad@]

As I understand it, this is just a list of the loudest ups and downs, and how many other assets were there that were not so high and noisy. I remember what happened during the period of tokens on the air, how many scams there were, and deceptions that pulled money out of people and then began to fall at great speed.

I started writing about scams at the very beginning of DeFi season. Then I got tired of it, because there were several scams a day and they looked alike.
I think that if a beginner reads the first posts, he will learn how to identify scams. Nothing has changed, only now more other ecosystems have been added.

[bbc.reporter]

@zasad@. This might be something that anyone who has been a very close follower of Defi might have never expected! I followed much of the news updates on Quadrigacx 3 years ago and I never thought that Omar Dahini was not imprisoned.

This news will certainly become an issue for the US SEC and for US congress and will certainly make it their vindication to impose strict regulation on the cryptospace. It is not a good day if you are a cryptocoin holder.

Also, tokens related to Wonderland are dumping. SPELL, TIME, SUSHI, ICE.



CFO of DeFi Project Wonderland Outed as Co-Founder of QuadrigaCX

0xSifu, a co-founder and CFO of an Avalanche-based fork of OlympusDAO called Wonderland, has been outed as a co-founder of the notorious Canadian crypto exchange QuadrigaCX. The exchange was labeled a “ponzi scheme” by the Ontario Securities Commission in 2020.

Initial reports from Twitter user zachxbt indicate that 0xSifu’s real name is Michael Patryn.

A report from The Globe and Mail in 2019 confirmed that prior to being called Michael Patryn, this individual was previously called Omar Dahini, then Omar Patryn, following two name changes in 2003 and 2008 respectively.  

Omar Dahini (aka Omar Patryn, aka Michael Patryn, aka 0xSifu) is also the same individual who co-founded QuadrigaCX in 2013 with Gerald Cotten.

Source https://decrypt.co/91354/cfo-defi-project-wonderland-ousted-co-founder-quadrigacx-report

[aruldaroy]

DeFi Wonderland
https://twitter.com/NomiChef/status/1304442521137811457
"I have returned all the $14M worth of ETH back to the treasury. And I will let the community decide how much I deserve as the original creator of SushiSwap. In any currency (ETH/SUSHI/etc). With any lockup schedule you wish."

38000 ETH
https://etherscan.io/tx/0xa5179a870734faadbb7abe2cc2030436a870f9bda1f869b3f986d65cbfbe57b8

With the shitshow (two times) NomiChef wants to pump SUSHI again? Will he succeed this time?

Yesterday, SUSHI was dumped so did he bought cheap SUSHI and want to pump it to take profit?

Yesterday lowest price is 0.0001979 BTC/ SUSHI.
About 17 hours ago, this news pumps it to 0.0002857 BTC/ SUSHI.
44% rise with this news, this shitshow.

And today the price of SUSHI has dropped again even from yesterday's price, yesterday if it touched 0.0002857 BTC/SUSHI today, it's even 0.00011106 BTC/SUSHI around $4.15 with this decline I think it's suitable to buy SUSHI at this time.

[bbc.reporter]

@aruldaroy. The development of Sushi is presently being done by Dani Sesta and his team. These are the same people who are involved in Wonderland, Popsicle Finance, Abracadabra and Joe the trader. The tokens of all these projects mentioned have dumped before and after the discovery that Sifu, Dani’s CFO in Wonderland is really the scammer Omar Dahini. Sushi might need Sam Bankman-Fried to save it again hehe.

[bbc.reporter]

@zasad. Add some of these projects to the list, much of those projects created in Fantom. It appears one of the famous founders the cryptospace has rugpulled on their followers. There might be many people who might say that it was not a rugpull, however, I would be more skeptical on that. They released Solidly and Solidex and then abandon them less than 3 months later? It would be naive not to speculate that this was not planned.



Andre and I have decided that we are closing the chapter of contibuting to the defi/crypto space.
There are around ~25 apps and services that we are terminating on 03 April 2022.

Most notibly
yearn.fi (use yearn.finance)
keep3r.network (use thekeep3r.network)
multichain.xyz (use multichain.org)
chainlist.org (lots of people replacing it)
solidly.exchange
bribe.crv.finance

Unlike previous "building in defi sucks" rage quits, this is not a knee jerk reaction to the hate received from releasing a project, but a decision that has been coming for a while now.
Thanks you to everyone that supported us over the past few years.

Source https://mobile.twitter.com/antonnellcrypto/status/1500405473337565191?s=12

[timerland]

@zasad. Add some of these projects to the list, much of those projects created in Fantom. It appears one of the famous founders the cryptospace has rugpulled on their followers. There might be many people who might say that it was not a rugpull, however, I would be more skeptical on that. They released Solidly and Solidex and then abandon them less than 3 months later? It would be naive not to speculate that this was not planned.



Andre and I have decided that we are closing the chapter of contibuting to the defi/crypto space.
There are around ~25 apps and services that we are terminating on 03 April 2022.

Most notibly
yearn.fi (use yearn.finance)
keep3r.network (use thekeep3r.network)
multichain.xyz (use multichain.org)
chainlist.org (lots of people replacing it)
solidly.exchange
bribe.crv.finance

Unlike previous "building in defi sucks" rage quits, this is not a knee jerk reaction to the hate received from releasing a project, but a decision that has been coming for a while now.
Thanks you to everyone that supported us over the past few years.

Source https://mobile.twitter.com/antonnellcrypto/status/1500405473337565191?s=12

This is honestly very concerning.

FTM's price has been crippled as a result of this news, and it is very uncharacteristic of Andre/Anton to do this. People are saying that it's not a rug but it honestly looks more and more like it.

I guess there were warning signs like the Sifu-gate and Andre's connection to Daniele, but clearly nobody has expected this to happen. Shows in the price of these tokens - absolutely plummeting.

[bbc.reporter]

@timerland. Agreed! Their reputations began falling when Sifu was discovered to be one of the Quadrigacx scammers. I also speculate that the securities and exchange commission of Andre Cronje's country might have sent him a letter telling him that an investigation will begin on him hehehe.

In any case, some of his projects were not rugs. Yearn Finance is not a rug, also some of his early projects in Fantom are not rugs. However, Solidly and Solidex might be rugs. They were the last projects to have the community provide the liquidity for Andre, Anton, Dani and Sifu to dump hehe.

[bbc.reporter]

It appears Sifu also known as Omar Dahini, Omar Patryn, Michael Patryn remains to have control of much of WonderlandDAO's treasury after being voted out by the community? This appears to be a very head shaking situation for their investors.

https://etherscan.io/address/0x5dd596c901987a2b28c38a9c1dfbf86fffc15d77

Also, how is Omar Dahini not in prison after his QuadrigaCX adventures? The skeptical me thinks that he is being supported by a certain intelligence agency for fundraising hehehe.



The information on the chain shows that about two hours ago, Frog Nation's former CFO Sifu successively transferred about 1,000 Ethereum into Tornado Cash. The Wonderland DAO voted to remove Sifu before.

Source https://mobile.twitter.com/wublockchain/status/1505873449872687104?s=12