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Eternad
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October 16, 2020, 11:47:58 PM |
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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.
It's common now that many can easily be tempted to buy even these scammy projects, soon they will be able to realise that most of DeFi projects now were like ICO projects back then that have no value or trading volume now. However, there are really beneficial DeFi like those in top of coinmarketcap defi list that can make us profitable thru trading them in short term, some can be in long term like Link. But better focus in short term for defi for less risky investment. |
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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tracyhayley
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October 16, 2020, 11:56:06 PM |
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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.
if there is a hype, the scam project will also come into it. it's a chance for some bad people to get advantage in a bad way to collect some money. till this day, i believe that some people and investors don't know what Defi is and how it works. they just known that DeFi tokens have a good price. that's why there are some bad people will take the opportunity to make a scam projects. |
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TimeTeller
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October 16, 2020, 11:59:43 PM |
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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.
if there is a hype, the scam project will also come into it. it's a chance for some bad people to get advantage in a bad way to collect some money. till this day, i believe that some people and investors don't know what Defi is and how it works. they just known that DeFi tokens have a good price. that's why there are some bad people will take the opportunity to make a scam projects. Just take a look at all Y-Defi and .finance related projects. Most of them are trash and very poor quality projects with plagiarism issue as common problem. Some managed to publish their fake team members. Maybe we can just make our own list of legit DeFi projects. And the list will be short and few. |
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laredo7mm
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October 17, 2020, 12:39:21 AM |
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More projects will be added to this list. Mostly Y series DeFi project. There are many Y series DeFi project that looks suspicious to me. Many projects share one single group but people still buy those token or maybe they are market manipulation. All these scam projects can make a bad reputation in the overall DeFi market and those project that is strong in its concepts.
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gdias92
Newbie
 Offline
Activity: 9
Merit: 1
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October 17, 2020, 12:51:24 AM |
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I believe https://claim.unidark.org/ is also a scam. The presales asks 1ETH for 2UNIDARK. Look below the telegram information: Unidark x Uniswap
Distribution UNI Token for Holders Unidark with Minimum Hold 2 UNIDARK.
SNAPSHOT Will be held December 12th
Unidark will add $ 10,000,000 USD Liquidity to Uniswap
UNIDARK Open Price Is $10,000 / UNIDARK
In the future, Unidark will of course list on several exchanges such as MXC, Binance and Bilaxy.
✨Max Supply : 10,000 UNIDARK |
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coinsycrip09
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October 17, 2020, 03:03:38 AM |
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I'm sure there are more defi projects that should be on your list.
but thanks for your efforts to make all that list in your thread.
it looks like the fraud will never end. scam projects are always there and are always looking for opportunities to keep filling their pockets. but I believe that now people are not that innocent, they will definitely do an analysis before giving their money.
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imstillthebest
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October 17, 2020, 03:20:42 AM |
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I'm sure there are more defi projects that should be on your list.
but thanks for your efforts to make all that list in your thread.
yeah list is small compare to the huge hype that defi brings , maybe the scams listed by him are only the latest but he didnt include the past defi scams as i dont see some that im familiar with . this is better than nothing because this gives us awareness that these projects are now the new scams on defi . few of the names on the list are funny and not serious , i think they are way too obvious of scam but investors would not care anyway . reminds me of a simillar project on the past with the description of scam but still they got some sales lol |
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maryanti
Sr. Member
Offline
Activity: 500
Merit: 250
BountyMarketcap
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October 17, 2020, 04:04:06 AM |
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In the early days of defi, crypto turned crypto into a crowd and competed with the arrival of defi and those who used it to commit fraud with an attractive web interface. In addition to an attractive web appearance, the price is quite tempting.
Very helpful about this list of announced scam projects.
So that everyone will not be deceived.
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Lordhermes
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October 17, 2020, 05:43:43 AM |
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This is just the beginning of all these scam defi projects, I am believing there are numerous number of scam defi op didn't mention but that's not the problem either, in as much as the space is an anonymous decentralised system, scammers are liable to scam investors no matter how smart you may seem to be, hopefully, I think if investors can do a thorough research about projects before investing, it would be a nice step to be taking so far. I think you should add this one to the list OP. It would be better if included among the ones at first page. |
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studio1one
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October 17, 2020, 06:40:36 AM |
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DeFi has a long list of scam projects, I would even say that we have seen more scams from DeFi than the ICO era scams lol. Rug pulls are becoming such a common practice and, what's worst is so many big social media communities/users are even promoting such projects.
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LogitechMouse
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Chancellor on brink of second bailout for banks
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October 17, 2020, 08:31:24 AM |
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This is the reason why I'm never, ever, ever, ever investing into these new projects whether it was in the ICO hype last 2017-2018 or now the DeFi hype.
Every money for me is important and investing it into these new projects that has a high risk will be my worst decision that I will make in investing.
I'd rather invest my money into something that I know will give me profit in the long run since it has a lower risk than investing into these new projects that has a high chance that it will turn up into a scam or an unsuccessful one. Better if you will just wait for the hype to be over then invest into the DeFi projects that will remain.
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bayu7adi
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October 17, 2020, 09:04:56 AM |
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This is the reason why I'm never, ever, ever, ever investing into these new projects whether it was in the ICO hype last 2017-2018 or now the DeFi hype.
Every money for me is important and investing it into these new projects that has a high risk will be my worst decision that I will make in investing.
I'd rather invest my money into something that I know will give me profit in the long run since it has a lower risk than investing into these new projects that has a high chance that it will turn up into a scam or an unsuccessful one. Better if you will just wait for the hype to be over then invest into the DeFi projects that will remain.
It is not my intention to attack either party, but there are people who have an aversion to investing in the hype that is currently popular. Profit-takers are mostly people who enter from the beginning to the middle. Meanwhile, investors who enter in the middle are more likely to be exposed to fraud. Most of the people called this a good opportunity, and most of them called it a destroyer of the cryptocurrency ecosystem. |
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the_thing
Sr. Member
Offline
Activity: 546
Merit: 252
Proof-of-Stake Blockchain Network
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October 17, 2020, 11:54:18 AM |
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Man Yfdexf.Finance was one of my biggest loss by a scam. Hopefully, community members would be able to track down those MFers who were behind the Yfdexf.Finance scam.
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Thomas-s
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October 17, 2020, 02:39:21 PM |
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Thanks, sir for sharing good info about the Scam project, Tracing Defi scam are more difficult than other projects as this Defi project has no physical existence. There are a lot of more scams and will come be aware of.
It is difficult to understand which project is a scam because it is a decentralized market and, as a rule, we do not know information about the team. Defi market is very young and therefore we have not yet figured out how to identify scammers |
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chikator
Sr. Member
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Activity: 406
Merit: 250
The Fourth Generation of Blockchain in DeFi
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October 17, 2020, 03:24:29 PM |
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https://amplyfi.money/: Rug pulled after collecting 2,500 ETH from investors. Their social media and websites are gone
Beer Garden Finance: Founder holds over 50% of the token supply in his personal wallet. When our community asked for more details such as a github link for the project, or timelocks for the tokens they were banned from the Telegram group.
Burn Vault Finance ($BFV): Allegedly rug pulled. Their Telegram and social media no longer exist.
CBDAO ($BREE): The project had a presale for $SBREE tokens which would be swapped for $BREE. One of the admin wallets exploited a backdoor in the SBREE token contract, minted 50,000 SBREE, converted it to BREE and sold it on the market, pushing down the price of BREE at the expense of other holders. The 50,000 BREE was sold for under 200 ETH.
Degenballz: staking may steal 1% of your LP tokens.
Emerald Mine (EMD): User tokens worth nearly USD$2.5mil that were supposedly locked under a smart contract were moved to another account. Fortunately, cryptocurrency exchange ChangeNow managed to stop the sale of 135,020 EOS. However, this only represents a small fraction of the total amount stolen.
http://lv.finance/: Falsified audit results, after investors deposited their funds in they found they were unable to withdraw. The team has disappeared.
Minions Farm: Has cute Minions but will access all your assets when you connect your wallet to the Minions Wallet site.
https://steaks.finance/: Developers apparently had trouble interacting with their own timelock. Though some consider it may be due to a problem with their code rather than ill-intentions.
http://tomatoes.finance/: Hacker triggered simple permission granting and withdrew tokens.
UniCat ($MEOW): Back door in smart contracts allowed UniCat to keep control over users’ tokens even after they were withdrawn from the pool. Around USD$200,000 worth of crypto has supposedly been stolen.
Unirocket ($URCKT): Apparently rug-pulled, cannot be located on social media.
http://yfdex.finance/: Project promoted themselves on Twitter for 2 days, took a total of USD$20mil of investor funds and absconded.
PAL Network Exit Scam
https://medium.com/@palnetwork_/pal-network-concludes-blockchain-project-pledges-remaining-funds-to-world-vision-5e3b72d0724c I have never been a part and or encountered any of the listed scams, thank the universe. Its good to know now tho beforehand, its easier to stay clear from these scams. |
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chanc3r
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October 17, 2020, 03:35:07 PM |
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Most of the listed project aren't that well known in my opinion so unless you dig really far into the depth of defi projects you won't encounter these project but it's still a good precaution for those interested in defi project regardless.
as I see most of them are following the path of already popular defi project even trying to imitate, if they publish code in github i guess they all just copied the already existing code from other well known project and just did minor edit lo. people should stay away from this kind of scam for real.
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Hasan905
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October 17, 2020, 03:58:55 PM |
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Every time scammers come out from the hole when there something new come and make a hype. They use the hype for scamming peoples and approach them as they are legit and worthy to invest.
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mdzahed134
Sr. Member
Offline
Activity: 2142
Merit: 259
Vave.com - Crypto Casino
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October 17, 2020, 03:59:16 PM |
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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.
Yeah, right now i see a lot of DeFi projects pre sale is ongoing also their promotion through bounty campaign. Scammers are now very active to scam by developing fake DeFi projects. If those are decentralized so it’s a bit difficulties to find out real projects. I think still this year is going end on DeFi trend. |
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