Another DeFi exit scam

[Bttzed03]

Many warnings have been posted about the possibility of DeFi exits scams across different platforms including bitcointalk but it seems people are simply too greedy to take advantage of the hype and profit. As it turns out, many of them got burned from projects like Yfdexf.Finance.

As reported, Yfdexf’s team managed to run away with $20 million. Their official website, medium, telegram and twitter accounts have all been taken down to not leave any traces.

What happened here is also another reminder to all aridrop and giveaway hunters out there to be careful in what you are sharing in exchange for some rewards. You might not realized it yet, but you are also helping these scammers.  Yfdexf’s team organized many giveaways to create hype and many of these hunters just joined without even thinking about what they are promoting.

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[kkaroul4]

This is not surprising all the scammers are improving day by day, before there's a lot of projects offers ICO that would just run and now they are now on the DeFi projects first thing I've heard was on Binance not quite sure which DeFi it is. It's really now hard these days to spot the scammers I think they really are organized group and they really do plan on having an airdrop in order to get a hyped on their project.

[Coin-Behind-You]

What happened here is also another reminder to all aridrop and giveaway hunters out there to be careful in what you are sharing in exchange for some rewards. You might not realized it yet, but you are also helping these scammers.  Yfdexf’s team organized many giveaways to create hype and many of these hunters just joined without even thinking about what they are promoting.

Actually, this is difficult considering most hunters (airdrop, bounty, etc) mostly do not care about it and they only care about possibility about promoting the project scam they have in mind is opportunity to get project token and sell it for some crypto money, and their case of Yfdex. they smart because don't promote their campaign program in this forum so that no one accusations their project in this forum, and I really hope not to get stuck with a project like this because currently I'm promoting a DeFi project that has an anon team but I'm really sure I didn't choose a Potential DeFi Scam Project .

[Juggy777]

Many warnings have been posted about the possibility of DeFi exits scams across different platforms including bitcointalk but it seems people are simply too greedy to take advantage of the hype and profit. As it turns out, many of them got burned from projects like Yfdexf.Finance.

As reported, Yfdexf’s team managed to run away with $20 million. Their official website, medium, telegram and twitter accounts have all been taken down to not leave any traces.

What happened here is also another reminder to all aridrop and giveaway hunters out there to be careful in what you are sharing in exchange for some rewards. You might not realized it yet, but you are also helping these scammers.  Yfdexf’s team organized many giveaways to create hype and many of these hunters just joined without even thinking about what they are promoting.

@Bttzed03 this is really sad news and I wish some how those scammers are caught, even though I know it’ll be very difficult to catch them.

Furthermore this is another example why we all should not be greedy, and why we all should strictly avoid risking our funds for short term gains by investing in unknown sites and unknown tokens.

Also you have brought up a valid point that bounty hunters need to be careful about what they promote here, and to eradicate such scams older members should tag those bounty hunters, and force them to stop promoting such type of scams.

[zidanw]

Many warnings have been posted about the possibility of DeFi exits scams across different platforms including bitcointalk but it seems people are simply too greedy to take advantage of the hype and profit. As it turns out, many of them got burned from projects like Yfdexf.Finance.

As reported, Yfdexf’s team managed to run away with $20 million. Their official website, medium, telegram and twitter accounts have all been taken down to not leave any traces.

What happened here is also another reminder to all aridrop and giveaway hunters out there to be careful in what you are sharing in exchange for some rewards. You might not realized it yet, but you are also helping these scammers.  Yfdexf’s team organized many giveaways to create hype and many of these hunters just joined without even thinking about what they are promoting.

This is the advantage of the scammers using bounty hunters to promote the project and create a hype out of it, I think bounty hunters should really do start to take care of which projects they are promoting, yes they needed money and you can have it on by participating to bounty and airdrops but I don't think it's not a reason not to search about the project if they are legitimate or not however we can't blame them since some of the scam projects really look like a legitimate projects.

[Bossfidelity]

I've been reading several posts on this platform of different Defi projects that had exited the space with millions of dollars, but it amazes me that despite these issues we still have people investing sporadically on Defi projects without any research as to whether the project is valid or not. I know that with time people would get tired of loosing and the Defi trend would come to a halt, just like ICO's.

[ryzaadit]

History will be repeating.

Everyone doesn't learn from ERC Colour Coin/Token and Lending Platform in 2017, the problem of all cryptocurrency aspects. Almost 80-90% everyone in cryptocurrency was really easy to get scam, even not reading the whole topic about DeFi. What's they offer not new at all just a same like lending platform, and also if they want to get some stake why not using POS with Major Coin for more safe instance DeFi ~LOL

[cryptoperkele]

This had an anon dev too? Could someone answer why people are suddenly trusting anon devs again? Bitcoin was the only project that actually worked out fine with a pseudonym dev, but that's because Satoshi didn't dump his coins, not yet anyway.

[Alert31]

Many warnings have been posted about the possibility of DeFi exits scams across different platforms including bitcointalk but it seems people are simply too greedy to take advantage of the hype and profit. As it turns out, many of them got burned from projects like Yfdexf.Finance.

As reported, Yfdexf’s team managed to run away with $20 million. Their official website, medium, telegram and twitter accounts have all been taken down to not leave any traces.

What happened here is also another reminder to all aridrop and giveaway hunters out there to be careful in what you are sharing in exchange for some rewards. You might not realized it yet, but you are also helping these scammers.  Yfdexf’s team organized many giveaways to create hype and many of these hunters just joined without even thinking about what they are promoting.

Scammers are scammers,whatever situation they will find a way to scam people to get money quickly and they are operating their evil deeds when there are many people very exciting for something new like Defi  that's why everyone should be careful for every new project that rise in crypto market because scammers not sleeping.

[semobo]

Many warnings have been posted about the possibility of DeFi exits scams across different platforms including bitcointalk but it seems people are simply too greedy to take advantage of the hype and profit. As it turns out, many of them got burned from projects like Yfdexf.Finance.

As reported, Yfdexf’s team managed to run away with $20 million. Their official website, medium, telegram and twitter accounts have all been taken down to not leave any traces.

What happened here is also another reminder to all aridrop and giveaway hunters out there to be careful in what you are sharing in exchange for some rewards. You might not realized it yet, but you are also helping these scammers.  Yfdexf’s team organized many giveaways to create hype and many of these hunters just joined without even thinking about what they are promoting.

More to come in the near future I guess, because projects are created for no reasons due to this trend and listed on uniswap with no difficulties which already damaged the transaction fees.But again when projects are getting exit scam, the projects created with the same purpose will follow the same to make profits in the right time.

[jossiel]

That's really likely to happen. After all of those funny foody name of those Defi, they're likely to get out of it as soon as investors money have been collected in huge sums.

It's one by one and if these defi investors don't see it as a signal that they have to abandon the ship, it is a fact that many of their will experience the burning off their money and going to be left behind.

[Baimovic]

bounty hunters try their luck by joining the DEFi project because they don't spend any initial capital, by participating through bounties, airdrops, giveaways, and the like associated with the DEfi project. we never even knew the end was a Scam. but I agree with your input to be careful and not to help scamers especially with promoting projects related to Defi.

[Mulann2]

I think investors should be more wiser when it comes to investing in this new defi project, my advice is don't stay too long to the point of get dumped on, always sell at the first chance and get out, only those who are greedy will hang on to the point where team exit scam.

[ven7net]

Many warnings have been posted about the possibility of DeFi exits scams across different platforms including bitcointalk but it seems people are simply too greedy to take advantage of the hype and profit. As it turns out, many of them got burned from projects like Yfdexf.Finance.

As reported, Yfdexf’s team managed to run away with $20 million. Their official website, medium, telegram and twitter accounts have all been taken down to not leave any traces.

What happened here is also another reminder to all aridrop and giveaway hunters out there to be careful in what you are sharing in exchange for some rewards. You might not realized it yet, but you are also helping these scammers.  Yfdexf’s team organized many giveaways to create hype and many of these hunters just joined without even thinking about what they are promoting.

You are certainly right. But you cannot know 100% which of the projects will be a scam until this project is implemented, raises money and deceives investors. Until this path is passed, it is difficult to understand whether it is a scam or not. The fact that people believe everything and this is the problem, but investors can also be understood, everyone wants to make money right now. These are the risks that you should always be aware of and not be greedy about. As for scammers, they have been and always will be.

[kingzpro]

Many warnings have been posted about the possibility of DeFi exits scams across different platforms including bitcointalk but it seems people are simply too greedy to take advantage of the hype and profit. As it turns out, many of them got burned from projects like Yfdexf.Finance.

As reported, Yfdexf’s team managed to run away with $20 million. Their official website, medium, telegram and twitter accounts have all been taken down to not leave any traces.

What happened here is also another reminder to all aridrop and giveaway hunters out there to be careful in what you are sharing in exchange for some rewards. You might not realized it yet, but you are also helping these scammers.  Yfdexf’s team organized many giveaways to create hype and many of these hunters just joined without even thinking about what they are promoting.

This is surprising because i have been following defi projects but somehow i have missed this project and if it has exit scammed then i will consider myself lucky to skip this somehow but i doubt they have collected 20 million and it is easy to trace in case of defis so if you have tracking link do share here so we can see how much funds they run away with exactly.

[Denies Distro]

Many warnings have been posted about the possibility of DeFi exits scams across different platforms including bitcointalk but it seems people are simply too greedy to take advantage of the hype and profit. As it turns out, many of them got burned from projects like Yfdexf.Finance.

As reported, Yfdexf’s team managed to run away with $20 million. Their official website, medium, telegram and twitter accounts have all been taken down to not leave any traces.

What happened here is also another reminder to all aridrop and giveaway hunters out there to be careful in what you are sharing in exchange for some rewards. You might not realized it yet, but you are also helping these scammers.  Yfdexf’s team organized many giveaways to create hype and many of these hunters just joined without even thinking about what they are promoting.

It's crazy because of the amount of eth that scam project gott is a lot, and I think the one to blame is crypto influencers because I saw a lot of them on Twitter they held giveaways with sponsorship money from this scam project, they easily used their audience to create hype so that many were trapped in that scam project, and I hope they will realize this soon and prefer to promote a real crypto project.

[Furious 7]

I think investors should be more wiser when it comes to investing in this new defi project, my advice is don't stay too long to the point of get dumped on, always sell at the first chance and get out, only those who are greedy will hang on to the point where team exit scam.

DeFi right now is just creating hype in the market then it will be in a bad dump when it starts at the top, I'm not that surprised by the new DeFi project with a higher price tag and remember it came out a lot with scamer and in the end we got stuck in the new DeFi.

[@baoli]

When ever there is a hype in new cryptosystem then there bound for news like this. This is not palatable at all. DeFi project has exposed investors again to terrible scammers that are all out to steal peoples fund.

[BitcoinPanther]

It is sad to see another scam pretending to be a DeFi  project happens.  It is always like this.  Whenever a trend is so popular, we always see news about scammers taking advantage of the popularity of certain stuff.  I think this is also investors fault, since they invest on a project without fully researching their investment.  

Many warnings have been posted about the possibility of DeFi exits scams across different platforms including bitcointalk but it seems people are simply too greedy to take advantage of the hype and profit. As it turns out, many of them got burned from projects like Yfdexf.Finance.

As reported, Yfdexf’s team managed to run away with $20 million. Their official website, medium, telegram and twitter accounts have all been taken down to not leave any traces.

What happened here is also another reminder to all aridrop and giveaway hunters out there to be careful in what you are sharing in exchange for some rewards. You might not realized it yet, but you are also helping these scammers.  Yfdexf’s team organized many giveaways to create hype and many of these hunters just joined without even thinking about what they are promoting.

You are certainly right. But you cannot know 100% which of the projects will be a scam until this project is implemented, raises money and deceives investors. Until this path is passed, it is difficult to understand whether it is a scam or not. The fact that people believe everything and this is the problem, but investors can also be understood, everyone wants to make money right now. These are the risks that you should always be aware of and not be greedy about. As for scammers, they have been and always will be.

Well, at least verify the people behind the project.  At least whenever the project become rogue you know the people behind the project and can file a proper complaint.  Even if you don't get your money back, at least this criminal when apprehended will spend their time in jail.

[erikoy]

This is why  never really trusted any forms of altcoins investment. I had been there and was scam. Yes, there are project that can be listed but its market price will be too low compared the market price during the ICO period. Many reason will be explain for the team but then again it will all end up in scamming like having a dead project team that has full of promises. Later on an investors will going to find out that project is dead and his money is lost. So, never trust anyone here with your money and if you really are notnsure with the investment then take bitcoin instead.