Another DeFi exit scam just made off with $20M in investor funds

[kerjakuat]

Most defi project hide their team identity which i think not appropriate way to make a projects that has term a really high risk investment. i would not invest at anonymous team as the team could disappear easily after getting the money from investors.

[poodle63]

This hype is nothing like 2017 and this type of news can not affect other DeFi projects. In the forum, we warn many times about the scam DeFi project and we have also mentioned that scammers will take advantage of this situation and will run fake projects. If investors were careful enough we wouldn't see this type of news.

cant blame the investor since the scammer is cunning. the chance of being scammed is indeed high and only if people choose DeFi project that's most trustworthy and presented by big popular exchanger they will hardly be scammed but most of people are just greedy.

Most defi project hide their team identity which i think not appropriate way to make a projects that has term a really high risk investment. i would not invest at anonymous team as the team could disappear easily after getting the money from investors.

I think this is true. even if it's DeFi the identity of developer behind the project shouldnt be anonymous.

[shinratensei_]

Most defi project hide their team identity which i think not appropriate way to make a projects that has term a really high risk investment. i would not invest at anonymous team as the team could disappear easily after getting the money from investors.

That's you but even there was a lot of awareness about this and so many investors are still betting on the defi project that didn't reveal who's behind the project itself. I have joined in so many groups and when i wanna try to make awareness for them and they blame me as a FUDers.

I will also try to take the same decision like you too but if the investors are still blindly investing in the crap defi project and that will be a disaster consider the scammer can ruined the bullish trend that is still happening with bitcoin and the whole of crypto.

[libert19]

Most defi project hide their team identity which i think not appropriate way to make a projects that has term a really high risk investment. i would not invest at anonymous team as the team could disappear easily after getting the money from investors.

I have already been burnt in several anonymous projects, I tell you they seemed legit as shit at first but then they just disappeared. Stay the hell away from anon team projects if you like your money.

[Serco]

Most defi project hide their team identity which i think not appropriate way to make a projects that has term a really high risk investment. i would not invest at anonymous team as the team could disappear easily after getting the money from investors.

I have already been burnt in several anonymous projects, I tell you they seemed legit as shit at first but then they just disappeared. Stay the hell away from anon team projects if you like your money.

we see alot anon developers behind new project , especially in  uniswap exchanges.even they didnt release whitepaper yet while start crowdfunding, and actually its be our fault too why we believe to this kind project. most of us speculate to earn high profit only in few days and it make us blind.

[minairia3]

I have already been burnt in several anonymous projects, I tell you they seemed legit as shit at first but then they just disappeared. Stay the hell away from anon team projects if you like your money.

Same, I had some many plays on uniswap but I started to think to trade back again on futures while I realized that some of these petty projects are just playing with our funds and totally deceiving some traders. I dont know but thats the essencr of a risky investment. Right now, will stop trading these risky tokens on uniswap and only invest on big and legit projects where funds have a real chance to mature rather than a silly pump and dump experienced.

[libert19]

Most defi project hide their team identity which i think not appropriate way to make a projects that has term a really high risk investment. i would not invest at anonymous team as the team could disappear easily after getting the money from investors.

I have already been burnt in several anonymous projects, I tell you they seemed legit as shit at first but then they just disappeared. Stay the hell away from anon team projects if you like your money.

we see alot anon developers behind new project , especially in  uniswap exchanges.even they didnt release whitepaper yet while start crowdfunding.

I don't really care about whitepapers they are for namesake. Anyone can juggle few pages it's product that counts.

[studio1one]

Looks like exit scams are new normal in DeFi space every day I am seeing at least 2-3 projects doing an exit scam on the crypto community. Last week alone two of the projects that I invested in did a rug pull. Need to be extremely careful now.

[makishart]

Most defi project hide their team identity which i think not appropriate way to make a projects that has term a really high risk investment.

Everyone should have the same thought like you dude. People should aware if when the team didn't wanna show its real identity and as what has already said by CZ if those people were betting in a very high risk investment.
The anonymous team can be used as a very strong indication if that was running by the fake team. So many scam projects did this in the past. We must become a smart investors that was putting the transparency at the top of our DYOR.

[Cryptoreflector_666]

Is it surprising that among the many DeFi projects, there are also some which aren't legit 
To me it isn't surprising at all. This hype about DeFi unfortunately can cause so many people to lose their money. The industry is so ludicrous that if not carful you could blow your money in minutes. The issue is that many people don't go for large and trusted projects.

I don't understand what the problem is with them specifically? Defi is the same Protocol as many others similar to it. Yes, previously it would be possible to reset everything to the fact that the new product has not yet been tested, but the experience is already available and quite good. I think it's about people's attitude to this phenomenon. Now there is a strong hype as before with bitcoin, and then with other cryptocurrencies. Everything is cyclical and everything repeats

[bitcoinst]

The lesson here is to not be overconfident on the project you are investing, just because you saw the word DeFi staking and loan, there's a lot on it than what you think these DeFi's are running on a smart contract that triggers an action every time it met a certain condition, it's not a remote possibility that there is a trigger there than transfer all the funds to other wallets, I've seen this happen in so many Ponzi schemes on Tron where a back door was created to transfer all funds, so only invest on a smart contract that is certified and audited for your protection.  

A similar attitude should be taken with any investment project. A similar situation was at the time when the ICO appeared, and we saw a sea of scammers who stole a huge amount of money.
Then the IEO came, and history repeated itself. Now DEFI has come and history repeats itself again.

[Twinkledoe]

The lesson here is to not be overconfident on the project you are investing, just because you saw the word DeFi staking and loan, there's a lot on it than what you think these DeFi's are running on a smart contract that triggers an action every time it met a certain condition, it's not a remote possibility that there is a trigger there than transfer all the funds to other wallets, I've seen this happen in so many Ponzi schemes on Tron where a back door was created to transfer all funds, so only invest on a smart contract that is certified and audited for your protection. 

A similar attitude should be taken with any investment project. A similar situation was at the time when the ICO appeared, and we saw a sea of scammers who stole a huge amount of money.
Then the IEO came, and history repeated itself. Now DEFI has come and history repeats itself again.

Wondering how many people will regret buying these DeFi tokens? Definitely, there are authentic DeFi projects but with the current rate of DeFi projects being introduced in the market, only few of them will survive this hype. History repeats itself but a lot of people don't learn their lessons well.

[Google+]

The lesson here is to not be overconfident on the project you are investing, just because you saw the word DeFi staking and loan, there's a lot on it than what you think these DeFi's are running on a smart contract that triggers an action every time it met a certain condition, it's not a remote possibility that there is a trigger there than transfer all the funds to other wallets, I've seen this happen in so many Ponzi schemes on Tron where a back door was created to transfer all funds, so only invest on a smart contract that is certified and audited for your protection.  

A similar attitude should be taken with any investment project. A similar situation was at the time when the ICO appeared, and we saw a sea of scammers who stole a huge amount of money.
Then the IEO came, and history repeated itself. Now DEFI has come and history repeats itself again.

I think a lot of new projects are being exploited by scammers, if you see that the new DeFi project does not provide information on the team behind the project so that it can make many thieves come back and commit more frauds which will eventually make the cryptocurrency name worse because there are too many people loss due to scammers.

[Wawa2013]

Scammers always take advantage of any situation to commit fraud, What happened to DeFi, which has seen a lot of scams lately,
is very detrimental to investors. Therefore, with the hype that occurred on DeFi projects this year, scammers are interested in taking
advantage of this situation. So we must always be careful in choosing DeFi projects for investment, because not all DeFi projects are
necessarily profitable.