Be careful with scam copycats of YFI

[shollyen]

People have gone crazy, yfi is only pure FOMO, the coin's function is not worthy of being appreciated that much, I have lost my mind with the crypto ecosystem, this is just a pure hope, don't buy yfi at the current price.

This goes beyond warning people not to buy the real YFI. No matter how much you try to say that, some people will still remain headstrong in buying.
The best thing at this juncture is to guide them not to go for the the scam coin, because it will lead to a total loss. Scammers are always around coins with hype. You cannot stop them.

[Kelvinid]

I'm not sure if that is not obvious to see but as you as an investor, we should have to know it.
a lot of ways that scammers and any form of Ponsi Scheme sprung around and it was not new to us, however, still a lot of people send complaints that they have been scammed. I'd don't think that we don't know about scam but because we blinded by those attractive offers, double your money, easy gains, become a millionaire after investing? 

Definitely, you'll get caught and fall into a scamming scheme and you just realize it after.
FYI copycat's is a new trick but this kind of scam isn't new that is why we know already if this the same or not. Should we have to invest them? Well, that be your choice.

[Baofeng]

Just an advice from me to you, do not invest in new YFI copycats popping up on daily basis due to the huge success of YFI. We all saw the surge with YFI price currently above 22,000$ which surpasses BTC price right now. This is causing a lot of FOMO and scammers are taking advantage to launch their own scam coins (YFI copycats). Examples are YFIE, YFIS which launched even without website or team information, yet people still FOMO to buy. Be careful please, just a peaceful advise.

And just as expected, this is the usual style of scammers and cyber criminals, they copy the success of other projects and even have a close name to the original so that those unsuspecting victims wouldn't notice it and instead think that it is the same project or a new one and it will also be a success. As for the original, you have to be very careful as well, it has grown so much that there is a big bubble already. FOMO is real and so when this burst, it is going to have a negative impact to altcoin market.

[TastyChillySauce00]

Actually, this is people's habit when any project got to succeed or famous in the market than other people copycats that project will little changes in name or brand. In the past, this is a no new technique to copycat the successful project. So really appreciate to you informing us. 

That's true and then when the hype has gone and people who are still holding these copycat tokens will be dumped. So many times we have experienced the same thing started from the ico bubble, and then bitcoin fork coin bubble, altcoin copy cat bubble and this time defi token bubble. They were all the same.

[ancafe]

Well, this is the first coin I know to be popular that has a price greater than bitcoin. however, I also discovered this out of the blue, and have been listing heavily in several markets. yeah, but I won't invest in this coin either. some coins in the past that had very high prices suddenly didn't last long. I hope these coins don't have the same story.

[rajakulam]

Yes, that's right, don't let us be influenced by new coins on behalf of YFI, now we have to be extra careful before investing in newly emerging coins, because in cryptocurrency investing there are a lot of scams like this.

[YOSHIE]

Just an advice from me to you, do not invest in new YFI copycats popping up on daily basis due to the huge success of YFI. We all saw the surge with YFI price currently above 22,000$ which surpasses BTC price right now. This is causing a lot of FOMO and scammers are taking advantage to launch their own scam coins (YFI copycats). Examples are YFIE, YFIS which launched even without website or team information, yet people still FOMO to buy. Be careful please, just a peaceful advise.

Yes, you are right, i also often find the same scamer moldy nowadays.

YFI (yearn, finance) currently has only two twins bearing the same emblem / logo.
Twin:



Apart from this, it is a YFI copycat coin.

Be careful with scamer on behalf of a fraction of YFI.

[Kotone]

There are lots of YFI versions already so better to do quick research before anyone go into fomo. I always do some background checking on the project especially if the product is working or not. YFI is really a hidden gem with limited supply like that, there is no suprise that the price already peaked at that level if you also consider the max total and circulating supply. Landing on major exchanges also boosted the way yfi earns.

[Coin_trader]

There are lots of YFI versions already so better to do quick research before anyone go into fomo. I always do some background checking on the project especially if the product is working or not. YFI is really a hidden gem with limited supply like that, there is no suprise that the price already peaked at that level if you also consider the max total and circulating supply. Landing on major exchanges also boosted the way yfi earns.

YFI is a garbage Ponzi coin, You should never trust all its cooynproject and also YFI itself. The value of the coin is pure speculation and hype. They are offering a 95% APR which is crazy and most the traders that buying this coin is just riding there hype. This will dump in an instant once it reach the point that no new buyer entering the market. Keep safe guys and always DYOR.

[gabbie2010]

Just an advice from me to you, do not invest in new YFI copycats popping up on daily basis due to the huge success of YFI. We all saw the surge with YFI price currently above 22,000$ which surpasses BTC price right now. This is causing a lot of FOMO and scammers are taking advantage to launch their own scam coins (YFI copycats). Examples are YFIE, YFIS which launched even without website or team information, yet people still FOMO to buy. Be careful please, just a peaceful advise.

Thanks for your prompt warning here I hope greedy investors or newbies will not defy this warnings these copycats YFI projects will surely surface in bounty section in multiples in days ahead while some might be legitimate a lot of them will turn scam, YFI price is too volatile and obviously difficult to trade or hodl it can also dump massively thus inflicting huge losses to investors who bought at peak.

[Kakmakr]

This reminds me about the ICO Boom period back in the day, because you got a load of tokens being pumped for no reason. This is definitely not going to end well for many people.

We also had the "Cloud mining" (Ponzi scheme) thing on this forum, where people actually thought they invested in actual hashing power and it turned out that it too was a scam.

Roger Ver used this naming strategy to use a close name to the original to confuse people into buying the wrong token and this is what we are seeing here with all these Copy cats. 

[slaman29]

The rate of the copy cat is just outrageous, infact I see so many these days that I can't even remember, traders and investors should be careful and do more research before investing and especially those ones only listed on uniswap, only today I saw two coins exit scam, all posing to be in the y family. Well, in everything you do, try to be unique and there will be lots of copycats all over you.

Don't know why people get so upset in this space when copycatting has been around since crypto was born. Some copycats get so brazen (everyone forgot about how EOS just basically cloned a blockchain and then went on to raise almost a billion dollars in a whole year ICO) but people just blink and forget. Either leave it. Or get over it.

[Bitbtc8]

Just an advice from me to you, do not invest in new YFI copycats popping up on daily basis due to the huge success of YFI. We all saw the surge with YFI price currently above 22,000$ which surpasses BTC price right now. This is causing a lot of FOMO and scammers are taking advantage to launch their own scam coins (YFI copycats). Examples are YFIE, YFIS which launched even without website or team information, yet people still FOMO to buy. Be careful please, just a peaceful advise.

Thanks for the advice but the fact is only those who want to learn will listen, investors don't care much about the risk, whichever ways the profit comes from doesn't bother them much, in 2017 many people made lots of profits from scam ICO projects too

[jjigoku]

Just an advice from me to you, do not invest in new YFI copycats popping up on daily basis due to the huge success of YFI. We all saw the surge with YFI price currently above 22,000$ which surpasses BTC price right now. This is causing a lot of FOMO and scammers are taking advantage to launch their own scam coins (YFI copycats). Examples are YFIE, YFIS which launched even without website or team information, yet people still FOMO to buy. Be careful please, just a peaceful advise.

I guess its fair to claim - it would be hard to find anyone at this forum who could invest in YFI copycats because of fomo.
I mean I've considered a possibility to invest in YFI, but its not worth it anymore - the growth has happened, I can't hop on train that already left.

[Apostlekin$$$]

Just an advice from me to you, do not invest in new YFI copycats popping up on daily basis due to the huge success of YFI. We all saw the surge with YFI price currently above 22,000$ which surpasses BTC price right now. This is causing a lot of FOMO and scammers are taking advantage to launch their own scam coins (YFI copycats). Examples are YFIE, YFIS which launched even without website or team information, yet people still FOMO to buy. Be careful please, just a peaceful advise.

Even YFI is not a safe investment presently, before heading into this project just think about if the price start dumping, it will be a huuuge loss, I'd rather find a fresh DeFi project that's still affordable and take the risk instead of investing on a token that's already overpriced.

[Menawi12]

Just an advice from me to you, do not invest in new YFI copycats popping up on daily basis due to the huge success of YFI. We all saw the surge with YFI price currently above 22,000$ which surpasses BTC price right now. This is causing a lot of FOMO and scammers are taking advantage to launch their own scam coins (YFI copycats). Examples are YFIE, YFIS which launched even without website or team information, yet people still FOMO to buy. Be careful please, just a peaceful advise.

With the skyrocketing price of YFI, many projects are copied and I agree we need to be careful. If you want to invest in YFI, it's better not to buy copycats because they are prone to pump and dumps.

[Inkdull]

Investors need to be careful, not just YFI token has copycats now, even some DeFi tokens on uniswap are scam tokens, you need to check tokens smart contract very well and make sure it's the original, some have already fall for this

[triangles]

Just an advice from me to you, do not invest in new YFI copycats popping up on daily basis due to the huge success of YFI. We all saw the surge with YFI price currently above 22,000$ which surpasses BTC price right now. This is causing a lot of FOMO and scammers are taking advantage to launch their own scam coins (YFI copycats). Examples are YFIE, YFIS which launched even without website or team information, yet people still FOMO to buy. Be careful please, just a peaceful advise.

With the skyrocketing price of YFI, many projects are copied and I agree we need to be careful. If you want to invest in YFI, it's better not to buy copycats because they are prone to pump and dumps.

Besides being pumped and dumped, people who bought YFI Copycats presale tokens could be scamed at the beginning and all the presale funds they get might be mixed directly on Tornado Cash or other mixing sites, and I hope this will not happen especially if Anyone who buys this in large quantities is bound to be painful.

[ethereumhunter]

Oh really so the scammers will take advantage of making YFI copycats. What a genius move by scammers lol. Maybe some newbies will fall for this, we should spread this to warn them.

I am sure the scammers will get their way to scam people with their knowledge. People tend to have a will to make a quick profit from the project, and that will be used by the scammers to tempt the people to join with their fake projects. We need to be very careful of this and don't get too deep if we do not yet know much about the project. I am sure that we can decide carefully, especially if we have a bad experience in the past, so that can be the lesson that will make us search for as much data as we can.

[imstillthebest]

i check its price and its now 31,871 usd  . it means that the coin is still growing till the moment you write 22kusd as its price . id never believe it at first but i witness it with my verry own eyes , damn this was the first coin i guess that surpass the value of btc .

 is it ?  so much hype happening on the crypto space by this year 2020 but so many bad events happened on the real world .