Be careful with scam copycats of YFI

[TheGreatPython]

Be aware of YFI itself because there is absolutely no reason why it should be that high, I didn't even know there was that much attention towards YFI all together, looking at what is going on with the situation right now, I would be very very careful, it is centralized and there are people who are super rich thanks to this right now, meaning they may want to get out very quickly to have a ton of money and get out.

The price has gone up a ton recently, I don't know why there is absolutely a tear of a big increase in it right now, I would assume that people would show some interest but we are talking about some insane unthinkable amount of increase right now, that is not really believable and because it is so unrealistic I would assume that there must be something wrong.

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[Claudio99]

I don't trust this project, it's concepts isn't that great and it's just based on DeFi hype, if you are me I would definitely walk away, good returns for those who buy very cheap but buying now is what you don't want to do, YFI can end up like YAM YAM

[gikere]

The wild appearance of YFI and how unnature it got to such a high price already put a lot of investor and trader at lost. Now, those YFI copycats come like a wildfire and I already saw a number of people fall for FOMO of them. This YFI coin really brings out a lot of trouble with it and I'm sure the YFI and its copycats are going to be dump soon.

[btcltcdigger]

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.

Lets not forget, on uniswap you can find the exact same token (same name different contract) for a fraction of the current $33k price.
Many people will get swept by greed and buy in, only to find out, it's a fake scam coin

[codpku]

Yak im agree with you we have to becareful with all this hype just like all the trend in 2017 we take all the hype of ico that lot of scam project back then
Now with all the success to YFI and all the family of Y lot of scammer take the advantage and make lot of people lose lot of money
So we have to really know first where we spend our money  was

[tvplus006]

And aside from these YFI copycats, is YFI itself really worth to invest? In my opinion, they are just capitalizing also with FOMO as checking their site - https://yearn.finance/earn it says they are still in beta. So what added value are they offering to the community right now why they are very expensive in the first place? So you also need to be careful with this YFI project itself because they have no solid foundation why they are having that kind of price.

YFI is too good to be true) It has been a month and a half since the credit DeFi Protocol Yearn.Finance was launched. During this time, the token price has increased from $34 to 37,000. The new YFII and YFFI clones, which were designed for inattentive users, were not able to repeat the success of Yearn.Finance.

[Bossfidelity]

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 heads up, I was surprised when I read about YFI. The major reason why the value increased that much was because of the supply of only 30,000 tokens and the tokens was earned by carrying out task in providing liquidity for other tokens of the project. Most people may get confused about the project name and invest in other similar ones without a use case

[Bitstar_coin]

I hope people can be able to recognise and differentiate the fakes from the original because YFI have really witness a huge success this past few days so I won't be surprise to see many fake and copycat of this project, good thing to warn people about this.

[el kaka22]

I feel like there is no need to be a copycat of YFI, it is not good enough to have its own copycat, let alone an interest towards that itself which is weird enough.

Crypto world is weird, you never know what thousands even tens of thousands of people will show attention towards, I remember like it was yesterday the moment when ICO world got its first billion dollar month, it made no sense to me that people would invest over a billion dollars inside one month into some new coin world where new coins weren't even researched that much and there was dozens of them, look at the market right now and you will not see even 10% of them high, most of them just died down and became nothings yet at the time people invested so heavily into them. All of these will be gone in few years as well I am sure.

[Keeng Daveed]

Thank you so much for this. The rate at which this scams keeps coming up each day with new strategies, Its not even encouraging me to invest at all, I love taking risk tho... But it keeps going against my strong heart I wish scams can be totally gotten rid of

[kindbtc]

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.

Everyone needs to be careful, I was shocked to see similar named tokens being purchased in large amounts at uniswap. I do not know if people are actually buying them or they are being scammed by presenting similar looking tokens, this game can turn ugly very quickly i hope authorities will be keeping an eye on the situation and the scammers who are selling fake tokens.

[Bezobraznike]

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.

Everyone needs to be careful, I was shocked to see similar named tokens being purchased in large amounts at uniswap. I do not know if people are actually buying them or they are being scammed by presenting similar looking tokens, this game can turn ugly very quickly i hope authorities will be keeping an eye on the situation and the scammers who are selling fake tokens.

   Today I saw an article on Publish0x about all YFI forks, here is the link https://www.publish0x.com/paragism/know-all-yfi-forks-xyvdpoz. I was amazed how many of them there is, and when there is so many of them, most of them are probably scams.
   Now people should be extra careful with new DeFi projects. Most of them are following hype and wish to take money from people.
I would go with well-known DeFi projects, every new one is huge risk.

[IvugeoEvolutionCoin]

So many people will get rekt chasing all new YF tokens, especially on uniswap. Up to 5 surface daily and some run with investor funds. What they learnt to do now is to lock some tokens on uniswap via UNC to build investor trust, with no aims to deliver product, just to sell their tokens. The YFIE and YFIS that OP mentioned belonged to one project, till date they haven't updated website as promised then today they came up with a new token entirely YFIV or so. These rugs keep scamming cryoto investors and investors won't learn their lessons.

[makishart]

I hope people can be able to recognise and differentiate the fakes from the original because YFI have really witness a huge success this past few days so I won't be surprise to see many fake and copycat of this project, good thing to warn people about this.

it will be a very difficult thing to make the differentiation for the fake and legit project because the fake project was stealing so many things started from logo, code and many more from the legit project. So many ico/defi/ieo discussion group was getting flooded by the the promotion for fake defi coin of YFI.

[bits4books]

Even my father will understand (if he looks at the charts) that YFI is a total bubble and just another DeFi-scam.
Is it not clear that it is just a bubble that will now roll down to zero/close and then what? Everyone will run and shout that it was a bubble and how did no one know?
Yes, everyone knew (and knows) only everyone wants to snatch their piece of this bubbly pie as usual.

[Pamadar]

Even my father will understand (if he looks at the charts) that YFI is a total bubble and just another DeFi-scam.
Is it not clear that it is just a bubble that will now roll down to zero/close and then what? Everyone will run and shout that it was a bubble and how did no one know?
Yes, everyone knew (and knows) only everyone wants to snatch their piece of this bubbly pie as usual.

Those people who love riding with the hypes, once they've suffer and become the victim they'll surely cry out.

There are people who still believing that there are instant way of earning money inside this sphere, you need to carefully analyze
each participation that you'll going to do it's your hard earned money so be very furious from each projects that you are eyeing with.

[Barbut]

Even my father will understand (if he looks at the charts) that YFI is a total bubble and just another DeFi-scam.
Is it not clear that it is just a bubble that will now roll down to zero/close and then what? Everyone will run and shout that it was a bubble and how did no one know?
Yes, everyone knew (and knows) only everyone wants to snatch their piece of this bubbly pie as usual.

Those people who love riding with the hypes, once they've suffer and become the victim they'll surely cry out.

There are people who still believing that there are instant way of earning money inside this sphere, you need to carefully analyze
each participation that you'll going to do it's your hard earned money so be very furious from each projects that you are eyeing with.

Watching from the side I think reasonable people will say that YFI is a bubble, only the ones who are paid to promote it are talking that it's great. I don't know where they find people to invest in this scam project, I hope nobody from here will touch it! It's not the only DeFi scam, in next period I feel like we will see a lot more DeFi scams, they just started operating, but soon that pyramids will start collapsing.

[soulripper]

Anything projects that goes successful will be in the eyes of scammer. So beware with scammer that has make a lot of defi look alike projects out their. They might get your trust blinded if you chasing the money you might fall for their bait. So always check on what project you wanna joined before you stuck with a shit token made by scammer.

[fosco333]

Plagiarize coins are worst, we should not buy the coin because the coin can misleading the holders of original coins.
Safer to buy fork coins, but we still need to check the quality of the coin, why they forked from original coin and what the plan is.

[jambul_kribo]

Anything projects that goes successful will be in the eyes of scammer. So beware with scammer that has make a lot of defi look alike projects out their. They might get your trust blinded if you chasing the money you might fall for their bait. So always check on what project you wanna joined before you stuck with a shit token made by scammer.

scammer will duplicate its smart contract and put it in uniswap exchanges. this is the common way that scammer doing now, many investors that didnt research well be victim.

Plagiarize coins are worst, we should not buy the coin because the coin can misleading the holders of original coins.
Safer to buy fork coins, but we still need to check the quality of the coin, why they forked from original coin and what the plan is.

too many coins with same WP or concept but investors didnt aware with this, they just thinking profit will come instantly when buy it.