Another DeFi exit scam

[NewRanger]

its very bad when crypto market trying to recover after suffered so many negative news and smoothly growth but Defi project destroyed it. many Defi ended scam and caused market crash . last news from telegraph about just swap https://cointelegraph.com/news/tron-legitimized-a-project-before-it-pulled-an-exit-scam-community-says  . hopefully it will not happen again to us.

[yohananaomi]

its very bad when crypto market trying to recover after suffered so many negative news and smoothly growth but Defi project destroyed it. many Defi ended scam and caused market crash . last news from telegraph about just swap https://cointelegraph.com/news/tron-legitimized-a-project-before-it-pulled-an-exit-scam-community-says  . hopefully it will not happen again to us.

yes, we hope that there will be improvements and changes that occur but every new system emerges is considered the best even though there is no accurate proof of the success achieved with the new system. but indeed it cannot avoid many who are looking for loopholes to get around how to cheat in a renewable way. need to be careful of all who want to invest, do not be tempted by a new system that has not seen prominent results. remember the past system changes continue to occur but there is no change from people who cheat.

[rahmathidayat93]

next year maybe defi trend will ended and most of defi project will move their goals or concept.  DEFI could be bubble and anytime will burst if we dont carefull about this. next year maybe cryptocurrency price will go to all time high again as previous history, or even repeated peak price ever.

Where do you get news like that so you can say future predictions and future possibilities for the cryptocurrency situation? isn't the state of the cryptocurrency market very difficult to predict and predict? If you can predict all the things that will happen to cryptocurrency, you've always been rich.

[ije07]

Yes, it's no wonder that many scammers take advantage of the Defi trending situation as a new scam tool. plus many bounty hunters have become obsessed with taking part in the Defi hype including the Yfdexf.Finance project. fortunately I am not at all interested in participating in the project, hopefully the bounty hunters will be more careful and do not easily believe in this Defi program.

[cepot9]

The real warning was a long time ago when ICOs were still happening but while crypto is a place for people looking for something crazy in investing, they expect huge profits without thinking they could lose all the money. Looks like new people or people with small capital are only being played by the big whales

[aswin123adam]

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 problem with the crypto space nowadays . If something becomes a success some greedy people copy paste the idea start overdoing it and it becomes a false trend which in turn make crypto look bad to people who have no idea about cryptocurrencies and are just getting to know it because of the bad name . The same thing happened to ICO's and now its DeFi . Just found a new copycat thats probably an exit scam .

https://imgur.com/a/8eXuv9W

Funny thing is people are buying into this scam ...smh

[pungopete468]

This scammers really do took advantage on this DeFi hype some of the biggest scammers are just really waiting for this kind of opportunity i guess there will be more reports about DeFi scams and soon people who doesn't have enough knowledge about cryptocurrency will mistakenly accuse the DeFi in general as a Scam but in reality they are good project if it is a good and legitimate team.

[lepbagong]

This scammers really do took advantage on this DeFi hype some of the biggest scammers are just really waiting for this kind of opportunity i guess there will be more reports about DeFi scams and soon people who doesn't have enough knowledge about cryptocurrency will mistakenly accuse the DeFi in general as a Scam but in reality they are good project if it is a good and legitimate team.

usually things like this will continue to happen, where there is a new system then everyone is competing to participate which is clear that behind it there is a purpose to cheat, because this method continues and is always used but there are still many who are also deceived. not sure whether this defi system is a scam because only a few have stated it, but with time it will be seen whether this statement is true or not, we are waiting.

[imstillthebest]

  people who doesn't have enough knowledge about cryptocurrency will mistakenly accuse the DeFi in general as a Scam

that is if they will only accuse defi but what if they accuse crypto as a whole ? but on the past when theres still no defi , crypto was already been mistaken by some as a scam but somehow most of those people already learn  . i just dont want the issue to rise again because there are those that are still not involved ln here  .

i guess there will be more reports about DeFi scams

defi hype is not over so you can be right  but its okay if they report it atleast they know and they detected that it was a scam . its only worst if they will leave those scammers unharmed because scammers think that they were succesful and wont be shy to keep coming back

[ice18]

I feel sorry to investors who invested and expect huge returns but turned into scam just be very careful if you want to invest into new defi especially if team is anonymous and into yfarming schemes dont ever trust much better to pull out your money and put into more serious project, Im sure there are many more scam defi will emerge everyday, stay away in yfarming with no audited smartcontracts and funds are not handled by trustworthy individual.  

[Davian144]

Unfortunately, now many projects are hype in the name of that very coin, and people just believe in it and invest money

It was because they used the opportunity to make a profit, so they believed it for a moment, because when the hype was over no one would be able to benefit from the name of the coin, so people who were clever at seizing opportunities would always benefit.

[gabbie2010]

This scammers really do took advantage on this DeFi hype some of the biggest scammers are just really waiting for this kind of opportunity i guess there will be more reports about DeFi scams and soon people who doesn't have enough knowledge about cryptocurrency will mistakenly accuse the DeFi in general as a Scam but in reality they are good project if it is a good and legitimate team.

usually things like this will continue to happen, where there is a new system then everyone is competing to participate which is clear that behind it there is a purpose to cheat, because this method continues and is always used but there are still many who are also deceived. not sure whether this defi system is a scam because only a few have stated it, but with time it will be seen whether this statement is true or not, we are waiting.

This kind of stories brings bad reputation to cryptocurrency, a lot of investors had been warned to beware of the current Hyping of De-Fi projects and stay clear of it.
I read it here were a member of this forum said he had been making profits consistently on this so-called project, It just another ICOs in making which had trended in the past were a lot of investors lost their hard earned money having scammed when those project managers went into thin air with investors funds.
Of course this is not regulator obviously the story of exim scam of De-Fi will continue unchecked.

[LogitechMouse]

~

I've said it already in my previous posts that this DeFi hype will cause many DeFi scam projects and they are starting it already .

Scams are everywhere and they will swarm the DeFi industry once again. They came with ICO hype is at its peak and now they will do it again in DeFi hype. One project did it already and more will do it too soon.
Poor investors who are easily attracted by these kind of projects.
Poor investors who didn't do any research and just throw the money and hoping that they will get profit.
Poor investors who don't know which projects are they investing their money with.

Feel sorry?? I don't feel sorry for them. I said it too and I will say it again. Investors will not learn if they will not experience things like this. What's worse is that some of these investors are tend to get scammed twice and they are just stupid for real.

[Melody2]

DeFi brings so many possibilities to earn some good profits. Unfortunately, scammers have hijacked the hype and now use it to lure unsuspecting investors. Everyone should protect their funds by performing relevant research on the DeFi projects they are interested in. Simple stuff like whitepaper checks for plagiarism and GitHub details should be looked into before they go ahead to invest

[Lantind]

DeFi brings so many possibilities to earn some good profits. Unfortunately, scammers have hijacked the hype and now use it to lure unsuspecting investors. Everyone should protect their funds by performing relevant research on the DeFi projects they are interested in. Simple stuff like whitepaper checks for plagiarism and GitHub details should be looked into before they go ahead to invest

Obviously, what you are saying is very true and investors should always consider the things that make them quickly hook on every strategy presented by Defi's new projects at this time, because scammers are always there to provide new ways so they can take advantage funds from investors before they run away from the project.

[Kunnu]

Yes, the scammer team of Yfdexf project got successful in their lousy attempt and this is just a beginning if we don't get alert there will be many more projects will exist scam, bounty and airdrop participants should have to understand this truth that they are not going to be millionaire by participating in lot of bounties in single time this is not going to happen ever so avoid those bounties and airdrops which looks suspicious in any way only focus on genuine bounties/airdrops.

[Fivestar4everMVP]

You've said it all mate, not matter how Most of us try to warn people, some people still won't listen, some will know that the project they are promoting is a scam project but still will go ahead promoting it having the mindset that before the project closes shop, they must have cashed out.

This is the warning am sending out to those investing and promoting Dextrust, i just created a this thread https://bitcointalk.org/index.php?topic=5276205.0 to warn people of the possibility of scam, but then, some people will read but still go ahead to trow away their hard earned money

[wmaurik]

You've said it all mate, not matter how Most of us try to warn people, some people still won't listen, some will know that the project they are promoting is a scam project but still will go ahead promoting it having the mindset that before the project closes shop, they must have cashed out.

This is the warning am sending out to those investing and promoting Dextrust, i just created a this thread https://bitcointalk.org/index.php?topic=5276205.0 to warn people of the possibility of scam, but then, some people will read but still go ahead to trow away their hard earned money

good effort but you will be very difficult to remind bounty hunters because most of them don't care about tscam or not they will definitely do it especially for those who follow social media campaign, I don't mean to demean them but this is a fact even sinc ico season a few years ago,has happened a lot, but I'm sure those of investor who buy dextrust tokens will surely listen to you.

[taguig]

Yes, the scammer team of Yfdexf project got successful in their lousy attempt and this is just a beginning if we don't get alert there will be many more projects will exist scam, bounty and airdrop participants should have to understand this truth that they are not going to be millionaire by participating in lot of bounties in single time this is not going to happen ever so avoid those bounties and airdrops which looks suspicious in any way only focus on genuine bounties/airdrops.

The problem is it's still hard to find good projects, people do not want to promote scam projects they do not want to waste their time and their effort they only want a good project, bounty hunting is now is a hit or miss you find a project to promote and it turns out to be a scam, you find a good project but they ask a lot and sometimes did not distribute or low value.

[pageraji]

Yes, the scammer team of Yfdexf project got successful in their lousy attempt and this is just a beginning if we don't get alert there will be many more projects will exist scam, bounty and airdrop participants should have to understand this truth that they are not going to be millionaire by participating in lot of bounties in single time this is not going to happen ever so avoid those bounties and airdrops which looks suspicious in any way only focus on genuine bounties/airdrops.

The problem is it's still hard to find good projects, people do not want to promote scam projects they do not want to waste their time and their effort they only want a good project, bounty hunting is now is a hit or miss you find a project to promote and it turns out to be a scam, you find a good project but they ask a lot and sometimes did not distribute or low value.

Yes its true still hard to find good project, i try join bounty unidapp and its look good project like uniswap, project like dfinance from wings team seem like legit project. Dfinance (xfi ) swap from wings token and not have token sale, total supply xfi 145 million. I hope i can make some profit with those unidapp and dfinance.