List of Defi scams

[aemma]

Didn't know the number has grown like this, who would have thought that after all the potentials which Defi seems to display that the level of scam will grow to this number and slowly looking like what happened during the time of ICO. Also, another concern is that, with the hype still around the number of scam projects will likely increase since most people are yet to learn their lessons and how to research on good projects.
The best way to invest in any project has always been to study the project thoroughly, it is through this way that a potential investor will know if the project is good or not. I believe if people can actually do this, many projects won't succeed in scamming their users.

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[wyvern2]

rabbitwallet.org also scam guys be careful as a lot of people said that they lost their money.. Its on Binance Smart Chain and tron blockchain

[fuer44]

a rather bad start, should be when they (DeFi) come as a substitute for ico or Ieo which are no longer in demand, they should be committed to making a better project from the next project so that in the future they can become the most popular industry. I'm not following the project that's all on your list, but at least this can be a reference for all of us that now there is still a danger of 'scam'.

[Snappycoco]

This is very informative. I suggest everyone who knew scam should report immediately to avoid further money loss to investors. I believe many will appear in this thread whom experienced in DeFi scam.

[totoy4741]

Include Dottery in the list. It is confirmed that the team have gone missing innthe telegram group and even deleted their accounts. DOTY price's went up to $450 to now at $10 with zero liwuidation in uniswap. These defi things have really gotten worst, scamming left and right leaving their investors crying over their hard earn money invested in rugpulls. I think investors must realize the risks of investing in new defi projects.

[tbterryboy]

The cause of this problem is the fact that there were a lot of people who actually spent a ton of money on stuff they do not know because it was "defi", there was tons of people who made a lot of money from crypto in the start of the defi period so others saw this and assumed that they would be making a ton of money as well, that is why I assume people invested into a different million types of defi just because it was defi.

This caused scammers and bad people to start new defi projects with no intention of making a good project, only so they could get funded by these gullible investors and steal their money. Same happened with ICO period as well, it went full circle to a level where a joke coin appears telling people if you invest to it they will take your money and spend it for luxury and themselves and people still invest like an idiot.

[zeingrind777]

Until recently I couldn't differentiate between a scam and legit projects. Therefore, I never invested in DeFi or ICO projects. I didn't want to take a big risk and didn't want to lose a lot of money. I prefer to join airdrop programs and also trade on a big exchange like Binance.

[luckyflop]

WARNING: CoreX
Very quick DD, but lots of warning signs. Claims that contracts are written from scratch. They aren't:
- Fee Approver - Copy of CORE's code
- CXF Token - Generic ERC20 mintable token
- SDE Contracts - Copy of some other crowdsale called "CMRPDCrowdsale".
- CoreX Vault - Copy/frankencopy of CORE's code

But none of the above matters compared to this. The SDE contract (0x5584443288371BEF8b4B4405B2a31A75C378c1e4) sends all the ETH to another address: 0x9ab49f64094051e7a39a444428b88d4b3923efbd. 0x9ab49f64094051e7a39a444428b88d4b3923efbd is closed source, but if you decompile it, you will see that it matches OpenZep's RefundEscrow contract (https://github.com/OpenZeppelin/openzeppelin-contracts/blob/master/contracts/payment/escrow/RefundEscrow.sol). The "creators" of CoreX didn't even bother to rename anything, we queried their contract with the ABI from RefundEscrow. The beneficiary address is 0x82E73Dd96870989930A902F3b440DedB5C573bf1.

In summary, all the funds sent to the SDE are then sent to the escrow contract, which the beneficiary can withdraw. Check 0x82E73Dd96870989930A902F3b440DedB5C573bf1. Lots of Tornado transactions, probably done multiple scams prior to this.

Learnt about CoreX from Unibot advertisements. Unibot should look into reviewing the quality of projects they're reviewing.

[Traderbtcc]

Nice one @OP , although there are more, DeFi scams are everywhere now, here's another DeFi scam you ca add to your list  YFIR.finance created a bounty airdrop, here's a  link to d topic : https://bitcointalk.org/index.php?topic=5274436.0
They promised the bounty hunters that they were going to airdrop over $1 million and that were gonna list at "uniswap soon", but after about three weeks, I stopped hearing anything about them, so I went to check them out on telegram, but I couldn't find them on either on their social media "Discord and Telegram", it's seems they have deleted both of their social media accounts, then later I saw a scam accusation post about them here on BTT,although I have no idea about how much they raised during the bounty period, scammers are really making use of the magic DeFi word to trick investors, we should just be careful, and try not to fall into one.

[gabbie2010]

I knew right from onset most of these DeFis hype will end up in scam its just a replica of ICOs scams that trends in 2017 what baffles me most is how can investors just throw in money into any project without cogent proof that the project is viable and profitable in the  long run?
I am not surprise that some investors fell for it, it is simply because some of the bogus bonuses dangled on them for investing on the project that is why greedy investors invested blindly without any caution.

[Mehedi72]

Don't understand what's going on in crypto industry.it's really hurting after seeing those projects are scamming.recently i invest on defi project like dia data, dego finance, oikos & many more.most of them were good but now i'm very confuse about new defi tokens.now everywhere is full of fake defi & scammers.that's really discourage me along with others investors, to invest on upcoming defi tokens.

[AndRE177]

This is a good list that is important for everyone to view in order to know what fraudulent projects might look like. It is a pity that such lists appear only after the project has deceived people and nothing can be changed. It would probably be useful to have sites where experts can Express their opinion about the project and if there is a great risk of fraud, then warn people about it.

[Freebieindia]

this is just a small list . Many and many of scam defi token were launched in this defi hype cycle and many newbies lost their money. A small research can save us from these kinds of scams.

[Zemomtum]

Since the DeFi boom, almost every project want to associated with this trend and it will be the target of scammers. This is a warning for investors and those who have interest in staking and delegation

[Rexler]

Wow, good job mate,I bet it took some time to put all this piece together,but with the hype on DeFi for the last two or three months, I believe there are even more than this, since DeFi became the new trend in the crypto sphere, there has been alot of DeFi scam projects here and there, looks like scammers didn't take time to adapt and start following the new trend, they saw how YFI moved from 0 to $48k,immediately they started naming their scam tokens similar to it, example YF MOONSHOT and YFIR in order to deceive investors. 

[Desscount]

it looks like there are many more, you should choose this Hype when you want to invest in Defi or buy an ICO,
many scammers come with the name Defi, and thank you for providing a list of scammers,
there are some that I don't understand, why do people want to buy it ?, even though it's clear their team is not clear

[fammy]

That is really why we cannot assure or we have no assurance that even if it is a DeFi platform it can really benefit us once we invested to it. Its a good thread to widen and open the eyes of many crypto investors and to start for them to make more frequent researching for a much worthy DeFi projects.

[Adhar]

many Defi project try to scammed, so we need to more research before investing. in 2020. defi changed the crypto market face thats why many scammer are coming with defi project. i think this is the fact, if defi impact down.bye the way, thanks for important info.

[Inkdatar]

Thanks for the list. I’m sure there's more defi projects to add on your lists since I see many defi project lurking in social media to attract more investors. With the hype in defi project, there are still people who truly invest in this kind of project just to earn money. But, they should be more careful in choosing to invest, scam is everywhere, in this industry.

[Nhebu]

This is what we have been talked by my co-telegram users in our group. As we have speculated that defi projects may die because of scam again. It is really sad for crypto that when there is a hype in market, scammers are always find a way to duplicate it. They don't stop until the people keep on investing. I hope we can avoid this shit scam projects and many people will be enlightened to stay away from them.