💩DeFi scams [history]💩

[Josefjix]

Defi are scams not sure but currently they are performing very well. They are good for current days. In future  we do not know. We should not hold it for long time.

This is a lame accusation and it doesn't hold water; you can't just make an assumption saying "Defi are scam" it means altcoins considered to be "Defi" are scam which is very very uncertain and lacks basic ascertation. We have legitimate Defi projects out there doing great and the teams behind them are working relentlessly to give Inventors an incredible Decentralization.

[zasad@]

I am watching another DeFi - CURVE Finance token, whose price dropped from $ 100 to $ 3 after listing on Poloniex on August 14.  Despite this decrease in value, I do not attribute this token to scam, although it is clear that many lost their money investing in it at an early stage. Now CRV is trading around $ 4, and I think that this token has the prospect of growing in price several times.

CURVE Finance project tokens were launched by a third-party developer
https://twitter.com/Dogetoshi/status/1294099367452966913

At first, the team recognized the tokens as a scam
https://twitter.com/0xc4ad/status/1293977012550467584

Then the team wrote that everything is fine
https://twitter.com/CurveFinance/status/1294089573673455617

New #DeFi Listing: @CurveFinance from Polonex
https://twitter.com/Poloniex/status/1294084308492333058

Where else will you see such a circus?

[kynaz]

The Defi market is on fire but besides of this development, we shouldn't take our guards down while investing in cryptocurrency. because Defi is not exempted from scams and fraudulent activities because bad actors are always lurking around and patiently await the right time to strike its victims, I hope Yam token would serve as an example.

There are a lot of Defi projects popping up every day and if you don't research carefully, you will easily lose money when participating. I am investing in a lot of new projects every day and if there is a profit I will sell immediately because we don't know what's behind the project. One way or another, you need to secure your investment and consider it carefully when making a decision.

[zasad@]

YFI
https://coinmarketcap.com/currencies/yearn-finance/

July 1 - $ 32  (Price of several pizzas )
August 21 - $ 14,300

Where is the price ceiling?

YAMv2 
https://www.coingecko.com/en/coins/yam-v2

The price is going up a lot. Big losses do not teach people anything 

Ocean, Just, Ring - Record-breakers in price growth. +700 + 1300%

[bluebit25]

I am watching another DeFi - CURVE Finance token, whose price dropped from $ 100 to $ 3 after listing on Poloniex on August 14.  Despite this decrease in value, I do not attribute this token to scam, although it is clear that many lost their money investing in it at an early stage. Now CRV is trading around $ 4, and I think that this token has the prospect of growing in price several times.

I also thought they weren't a scam, but the price dropped too much and caused many investors to lose money. And if the investors lose money they will think it is a scam project. In the future I think its price will increase again, but it will take a lot of time

[Claudio99]

What a big surprise, I thought it's over for YAM project, I would have jumped into the wagon right after the dumps took over but I guess it's too late right now, the lesson here is not all dump projects are dead, finding out why there is a dump should be the first thing to do better making a decision

[Desscount]

I am watching another DeFi - CURVE Finance token, whose price dropped from $ 100 to $ 3 after listing on Poloniex on August 14.  Despite this decrease in value, I do not attribute this token to scam, although it is clear that many lost their money investing in it at an early stage. Now CRV is trading around $ 4, and I think that this token has the prospect of growing in price several times.

I also thought they weren't a scam, but the price dropped too much and caused many investors to lose money. And if the investors lose money they will think it is a scam project. In the future I think its price will increase again, but it will take a lot of time

Sudden drops to huge value will always have negative opinions about the coin, so we need to be very careful with those companies. It is already listed in Binance which has higher chances to increase its price in the future, it will take a lot of time to recover it's price. 100$ is really very high amount and dropped to 1$ is really funny.

I think the hype from Defi will end soon, if the CRV is one of the ICOs from the Defi project but the price drops dramatically,
then I make sure this is the beginning of another Defi project to go to a scam, be careful

[Malam90]

All DeFi projects are now on fire. I don't know whether YFI is a scam or not because it is now on top 41 ranked coin which supply is only 30k. This may have impressed investors. But i am in confussion about the price of this coin. $16k price hit last few days ago which is higher than Bitcoin. This is bubble and investors may face huge losses if it blast.

[Lrshohag]

If defi project is scam, many people will lose their asset .
And crypto world will lose their trust.

[In the silence]

Hory shite that scenario reminds us of the 2017 bullish trend.

If defi project is scam, many people will lose their asset .
And crypto world will lose their trust.

Not this time, people can now differentiate legitimate projects from scams. But new people are engaging in the crypto space so it cannot be avoided to lose their trust.

[hd49728]

All DeFi projects are now on fire. I don't know whether YFI is a scam or not because it is now on top 41 ranked coin which supply is only 30k. This may have impressed investors. But i am in confussion about the price of this coin. $16k price hit last few days ago which is higher than Bitcoin. This is bubble and investors may face huge losses if it blast.

It blasted off and the question now is only when it will be bursted? To be honest it is my first time after 4 years in crypto market I have seen a coin or token has its value higher than bitcoin. Years ago, at the all time high, Ethereum did not reach 0.2 BTC for each ETH. What happened with YFI? And what happened with the market capital flow? Does the market have a very fresh capital from newbie investors?

[Strongkored]

There must be some current DeFi projects whose purpose is only for deceiving, not all just a few. When it tradable on the exchange it will be difficult for project team to control the price, if there is even one bad news about the project it will really make the price down because there will be panic sell.

To be honest it is my first time after 4 years in crypto market I have seen a coin or token has its value higher than bitcoin.

You can check PBT (Primalbase) the ATH is around $7,900 Aug 31, 2017 when BTC price at that moment around $4,600, and see PBT current price is only $170, this happened when ICO's was hype.
https://coinmarketcap.com/currencies/primalbase/

[tvplus006]

If defi project is scam, many people will lose their asset .
And crypto world will lose their trust.

If one of the DeFi projects turns out to be a scam, then no one will be surprised. Everyone is already used to the fact that the cryptocurrency market is very dangerous and it is very easy to lose your money here, even if the project does not turn out to be a scam. Some investors will always lose their money, so you need to be careful when making a decision about investing.

[JungleOnion]

I still don't understand what is sustaining the rise in YFI. I mean seriously how can people be pouring in money to it when there's really nothing other than a concept similar to a masternode on steroids.

[suryapro]

Reasons YFI keeps rising is what I still don't understand, token moon from $31 to $15000 within just few weeks, this is the first time am witnessing this, I just hope is not another version of cryptocurrency scam.

[kopijos]

sometimes amidst DeFI's condition which is experiencing popularity, there are several projects that are scam or fraudulent. yam this is one of the failed projects because obviously it doesn't provide anything and we have to be wary of fake deFI concept projects and it's only detrimental

[50 Cent]

This is cryptocurrency.
assets that are very volatile and high risk.
in a day, it can increase by 5000%, but it can be -90%. the thing to note is always looking at the profile of the project. dev, roadmap, team, etc. in order to minimize losses. especially to the scam.

[Rowenta]

Reasons YFI keeps rising is what I still don't understand, token moon from $31 to $15000 within just few weeks, this is the first time am witnessing this, I just hope is not another version of cryptocurrency scam.

Only those who are too greedy will get burnt easily, I expect investors to take their profits instantly because that's already an insane ROI, imagine someone having just 5 pieces of YFI tokens. What more could one hope for?

[cabron]

This is cryptocurrency.
assets that are very volatile and high risk.
in a day, it can increase by 5000%, but it can be -90%. the thing to note is always looking at the profile of the project. dev, roadmap, team, etc. in order to minimize losses. especially to the scam.

The thing to take note is to wait and wait for any confirmation whether the project could be a scam or not. Because if you immediately dive into a project that will cost $170 each at the very first days of its launch, it could end up the worse scam like this YAM. This isnt going to be the first I'm sure. There were even projects before Defi was evenconceptualized that is now adding Defi as part of the project, I think they'd turn to be a scam soon too.

[Eco_111]

The one thing that many investors are doing so wrong is investing on a project with no strong use case, new crypto investors are even the worst ones, they invest in any project they feel like will do better with no real good research, DeFi projects aren't all good, only few of them are