Strictly for those who have ears

[Mighty_crypt]

My friend fell for a scam ($ 80) recently.
I'll tell you how it was:
A fresh promising project entered the market, but the team announced that the contract had not been developed by them yet, but would appear a few days later, after the promo on binance.
The scammers created a contract with the token name like the above project. Then they poured liquidity into UniSwap. They made fake airdrops to the Eth network to create the visibility of the holders.
After exchanging at Uniswap ETH to their coin, the coins came to the wallet.
But the trick was that these coins could not be exchanged back for ETH, contract error (even if there was liquidity).
A few days later, the scammer removed the liquidity and got his black money.
So be careful. Look at the contact, it should be with a green mark on the etherscan.io.

The scam project did Promo on binance? That's impossible, maybe the scammers use binance exchange name to fool investors? They can even use binance image or banners and merged it with their fake project name, I'm sorry to hear this, we really need to be careful around new ERC20 tokens because this is the favourite network for the scammers

[michellee]

The scam project did Promo on binance? That's impossible, maybe the scammers use binance exchange name to fool investors? They can even use binance image or banners and merged it with their fake project name, I'm sorry to hear this, we really need to be careful around new ERC20 tokens because this is the favourite network for the scammers

I think the scammers can easily modify the domain name into something similar to binance. And if we are not careful to check the domain name, we can get into their trap and they can easily steal our private information. The scammers will always be there, and they will find so many ways to trick people and get their money. We only need to be careful if we read or see something suspicious.

[masterrex]

Thanks for exposing this potential red flags with those projects that you mentioned, Even me I also notice that most of the so-called new Defi projects have used the same name or just fork from the existing platform particularly the name Yearn, the most common name in the new Defi projects, Aside from that project team is anonymous, no whitepaper no roadmap and many more, for me that was quite suspicious so it's better to avoid that projects for the sake of your own funds.   

[EMV]

Thanks a lot warning.  Unfortunately, this is a small part of such projects.  If you go to telegram and see the various distributions of DEFI projects, it becomes scary.  Now everyone creates projects and tries to deceive honest people.  Guys, be careful.  You need to check the project 1000 times before investing.

[AndRE177]

Thanks for exposing this potential red flags with those projects that you mentioned, Even me I also notice that most of the so-called new Defi projects have used the same name or just fork from the existing platform particularly the name Yearn, the most common name in the new Defi projects, Aside from that project team is anonymous, no whitepaper no roadmap and many more, for me that was quite suspicious so it's better to avoid that projects for the sake of your own funds.   

Scammers often try to pass themselves off as another project or at least show that they are somehow connected with this project. This is especially common with the popularity of the decentralized exchange Uniswap, where some people choose coins by name and do not look at smart contracts. If you choose coins for trading in this way, you can confuse a real coin with a fake from scammers.

[tvplus006]

...
Also be careful with UNISWAP, listing coins on uniswap is very easy so don't think that every listed DeFi projects on uniswap are real, most DeFi projects are from unqualified fake devs that are just trying to get into your pocket. Few of these projects are already listed on uniswap already.

Yes, it is true that Uniswap is full of fake tokens, but there is nothing to be done, since this exchange is decentralized and everyone can add their own token for sale. To avoid becoming a victim of fraud, you need to check the smart contract of the token you want to buy before purchasing.

[Ridwan Fauzi]

This is something that I always be worried, Uniswap will not have a spesific rule to know the project is scam or not. Many project will just add on the Uniswap and being traded by most people ans I know that is the worst thing to see.

So, I don't think this booming will take a long time. We can take an example like that and also we can take how all DeFi price token right now, most of them are plunged a lot. Like I have a DeFi token with the amount 0.4 a few days ago 0.4 was priced $120 but now 0.4 just worth $20 and this thing will just make DeFi project end with scam.

[xiboothrezi]

Actually, there is nothing wrong with DeFi, it's just that a lot of scammers are using it to trap investors with their fake, half-baked projects. We all have to be careful, especially more than 80% of defi projects that were previously successful have experienced a deep enough decline, this teaches us time management and analysis funds so as not to be late and get caught in losses.
OP has provided warnings and detailed reviews regarding projects that feel suspicious, thank you for sharing. This is an important warning for all of us to want to learn more and not be easily provoked by the DeFi title.

[Jawhead999]

This is something that I always be worried, Uniswap will not have a spesific rule to know the project is scam or not. Many project will just add on the Uniswap and being traded by most people ans I know that is the worst thing to see.

So, I don't think this booming will take a long time. We can take an example like that and also we can take how all DeFi price token right now, most of them are plunged a lot. Like I have a DeFi token with the amount 0.4 a few days ago 0.4 was priced $120 but now 0.4 just worth $20 and this thing will just make DeFi project end with scam.

If you worried why you need to invest in DeFi project? Literally you can easily avoid and stay away from any DeFi token.

Some people are getting rekt, but there's also some people who made good profit with DeFi token.