Blindness in DeFi and sheeple to wealth

[ichi]

The majority of them are not generally worried about security that is so acceptable there, so programmers can undoubtedly get in and break into it, possibly this is simply important for their game by giving reasons this way so everybody realizes that it truly occurred.

In the event that it will happen like that it is smarter to leave and proceed onward with another task and go to pick an undertaking that is truly useful for future possibilities on the grounds that a decent choice will make your venture more secure and there are no questionable reasons later on.

[1714889703]

1714889703

[1714889703]

1714889703

[Dariusburst]

DeFi insane yield farming returns has made so many investors become so extravagant and greedy to hardly choose what to buy, when to sell and what pre-sale to bag as early investor.
I know its all about risk, but risk comes with sanity even on quick richness. I wonder if there is free money out there as some traders feed this leach project with unaudit project and anonymous team.
Yesterday, I was scanning through YFMoonshot Telegram group chat and I was flabbergasted how the group was locked with just 3 new unread messages by admin. Unlike the other days when the group chat will be flood with hundreds to thousands of messages.
I knew something was wrong, it was dawned on me when I read the part where hacker had stolen funds out of the YMFS vault contract

Commander Luna:
Hello everyone. As you are all aware, sometime this morning a malicious hacker was able to withdraw funds out of the YFMS vault contract via what we believe was a re-entry exploit. At the moment we are investigating to determine how exactly this occurred so we can ensure it does not happen again.

Hello everyone, the team has decided to reposition the project going forward and we have decided to rebrand the project to LunaCore (LUCR). We will be implementing some of CORE's features into our project going forward and will be reducing the total supply of the new token from 35,000 to 25,000.

The price has plunged so hard and everyone is affected, the sad part( in my opinion) is, many will still buy this swap tokens when trading begins 
A proper research will cause you no harm, there are other projects out there to pick from, not this shitcoins/tokens.

So another DeFi project is hacked again? I will never trust any new DeFi projects unless it's really good, what if DeFi teams are falsefully blaming hackers for hacking their projects? What if they are hacking themselves and make it look like theyve been hacked? I don't know what else to think because this is getting way too much

[TanakabZX]

I'm just surprised that a use case that's meant to keep users funds more safer is failing, more hacks are happening around DeFi projects only, why? Is centralized projects now more safer than decentralized? Many people will end up losing more money to DeFi scam than what we've seen in ICO era

[adzino]

Ahh the typical we got "hacked" excuse. I doubt they actually got hacked. They bagged investors profit, starting dumping whatever they had and then announced they got "hacked". This are all well planned. I find it funny how they immediately started making another project saying they are "rebranding".
I feel weird knowing that people fall for these scams. How gullible are they? If they are this stupid, they shouldn't be handling/playing with money.

[leea-1334]

The majority of them are not generally worried about security that is so acceptable there, so programmers can undoubtedly get in and break into it, possibly this is simply important for their game by giving reasons this way so everybody realizes that it truly occurred.

In the event that it will happen like that it is smarter to leave and proceed onward with another task and go to pick an undertaking that is truly useful for future possibilities on the grounds that a decent choice will make your venture more secure and there are no questionable reasons later on.

I have to unfortunately agree with you here,,, most people who have lots of money in crypto just seem to ignore the fact that they are putting so much at risk when they play with smart contracts and code that they do not understand. Blindly putting their money in pools and staking and thinking they are going to get so much back.