Strictly for those who have ears

[Bitbtc8]

Hi fellas I'm here today to unleash some light on few DeFi projects that I've been seeing lately and it's kinda getting annoying because they keep pumping up every week, after doing few digs I find out they are projects aren't reliable, some CEO pictures looked washed out and stolen, no LinkedIn and proper team information etc, to cut the story short they are red flag that might be hard to see

They come in low max supply

Token name : something Finance, DeFi, etc
Token type: ERC20
Token Price: High from  3$ to 100$ per token
Total Supply: as little as in thousands, 10,000 , 25,000, etc

I'm starting to think these projects are from same players from the deflationary tokens haven, remember when deflation was a thing?

Here is list of suspicious projects that claim they are DeFi

1. LSVDeFi Finance (LFI)
Token type: ERC20
Token Price: 110$
Max supply: 25,000 LFI

Website link: https://lsvdefi.finance/

2. Phase Finance ( PHY)
Token type: ERC20
Token Price: 19$
Max supply: 30,000 PHY

Website link: https://www.phase.finance/

3. Yearn Finance Value (YFIV)
Token type: ERC20
Token Price: 35$
Max supply: 100,000 YFIV

Website Link: https://www.theyfiv.finance/

4. Yearn Finance Network (YFN)
Token type: ERC20
Token Price: 3.53$
Max supply: 70,000 YFN

Website Link: https://www.yfnetworkdefi.com/


5. Exvault (EXCORE)
Token type: ERC20
Token Price: 100$
Max supply: 10,000 EXCORE

Website Link: http://www.exvault.finance/

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.

[Rodeo02]

They just want to be in trend most of the tokens you listed doesn't have any announcement thread here, for a reason that they don't want to be asked by old members and it can easily identified that they are scam if they make one.

Just ignore that kind of project ,if you can review a project by  your self and found thier mistake like you find they are using other people photo or copying other project roadmap you can open scam accusation so that project can be flagged as scam so that they can't find other victims here.

[Gorosden]

Thanks for sharing, I've seen lots of these projects from ICO announcement website and they have tons of followers on Twitter, I don't know how they manage to achieve that anyway, for example like that YFN project

[MCDev]

We are in the midst of a defi project boom, everyone can see defi projects flooding the crypto market and this forum.
I think that the defi booming during this time is similar to the ICOs of 2017. It is easy for people to get into a scam project like the ICO 2017, when the developers tried to mass launch projects and are willing to abandon it as soon as they get the money.

[rhomelmabini]

As I've been saying in the past only few will remain in this DeFi race and when the time bearish market start to move this will slowly dies and even it just only began there are DeFi projects already dying. Uniswap was just a medium but hoping they could have a stricter regulation in the future regarding listing of any projects, it's like they are the go-to of this scammy projects too.

The bad thing about this DeFi race are those newbies that just hopping in without knowing if the project has real use case or just simply driven by hype. FOMO is not a bad thing at all because if you've been into FOMO but on good crypto projects then it's nice but if it's the other way around it could mean another crybaby saying that crypto or other altcoins are scam.

[imstillthebest]

not only ears but eyes ? you forgot  . how can they invest when they dont see it but they invest blindly like they have no eyes  .

it was like that they dont have an ears because they dont listen to repeated advices and warning by those concerned person  .  im not annoyed with the pump because those pumps wouldnt last a long time anyway but im annoyed that every single user i came across praise the exchange called uniswap  . they praise the exchange so much and they ignore the fact that most scam projects are being supported on here  .

[SamboNZ]

We are in the midst of a defi project boom, everyone can see defi projects flooding the crypto market and this forum.
I think that the defi booming during this time is similar to the ICOs of 2017. It is easy for people to get into a scam project like the ICO 2017, when the developers tried to mass launch projects and are willing to abandon it as soon as they get the money.

The boom is already over and it was a short one because most of them now are losing value.

Yes, scammers are already everywhere trying to get money now in the defi scene but because of greed people aren't doing due diligence in picking in where to put their money.

[VolkoB]

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.

[sangjoewara]

Thanks for sharing, I've seen lots of these projects from ICO announcement website and they have tons of followers on Twitter, I don't know how they manage to achieve that anyway, for example like that YFN project

Don't be surprised because twitter followers are very easy for them to get, because if we check more deeply, not all followers on twitter are genuine, it could be that some of them are fake, so don't be surprised because of this.

[Lerikaweb]

If you wanna invest in defi projects (as people user to do 3 years ago during the "ico fever") I have some bad news for you: these tokens have great volatility and people make money on short-time trading, not holding them. So if a token is listed and is being traded, we trade it today and forget about it tomorrow))

[Mpamaegbu]

4. Yearn Finance Network (YFN)
Token type: ERC20
Token Price: 3.53$
Max supply: 70,000 YFN

Website Link: https://www.yfnetworkdefi.com/

You may want to crosscheck your information on that one. The total supply is 48,000 YFN and not 70,000. The project is already out and actively trading on Hotbit, Uniswap and Bilaxy at around $4+. See details here https://www.coingecko.com/en/coins/yearn-finance-network. BTW, it also had airdrops last week. It's a project am closely monitoring but don't know what truly moves the DeFi coins.

[ryzaadit]

Checked all the project.

Same as before from my response about DeFi, just be careful everyone! in the past few weeks DeFi already trap so much investor and trader. Also, the progression from all DeFi project 70-90% right now on the lose position.

The loss position could be the same as ICO Situation when to much investor/trader getting a loss or fomo make the market of this type project losing some trust. About 4 project has been mention by @OP almost all of them only offering their main service "Reward or Farming", and without any team at all even some one of the project has team information seeing them by the picture team.

I thinking they are not really professional at all without a solid background.

[Kang TB]

We are in the midst of a defi project boom, everyone can see defi projects flooding the crypto market and this forum.
I think that the defi booming during this time is similar to the ICOs of 2017. It is easy for people to get into a scam project like the ICO 2017, when the developers tried to mass launch projects and are willing to abandon it as soon as they get the money.

The boom is already over and it was a short one because most of them now are losing value.

Yes, scammers are already everywhere trying to get money now in the defi scene but because of greed people aren't doing due diligence in picking in where to put their money.

thats right people need to do a very deep research about defi type project now, to reduce the risk being scammed my friend
because not all defi project will bring a huge return, so choose wisely

[bekti3]

We are in the midst of a defi project boom, everyone can see defi projects flooding the crypto market and this forum.
I think that the defi booming during this time is similar to the ICOs of 2017. It is easy for people to get into a scam project like the ICO 2017, when the developers tried to mass launch projects and are willing to abandon it as soon as they get the money.

Usually this kind of thing will often not last long, indeed currently Defi is the center of attention. but what we need to know is the extent to which this project embodies the development of their own crypto strategy.

[plvbob0070]

They just want to be in trend most of the tokens you listed doesn't have any announcement thread here, for a reason that they don't want to be asked by old members and it can easily identified that they are scam if they make one.

Just ignore that kind of project ,if you can review a project by  your self and found thier mistake like you find they are using other people photo or copying other project roadmap you can open scam accusation so that project can be flagged as scam so that they can't find other victims here.

With the easy listing of a project in an exchange, it is no longer surprising to see some of it turns out as a scam. There's no doubt that people will question the credibility of their project, seeing they hide important details about the team and the project. So instead of promoting the project here in the forum, they decided to list it on a exchange so they can still catch people's attention. Therefore, always keep in mind that those lists and the reputation of the exchange are not enough basis to trust a project because anyone is capable of doing it.

[cabron]

4. Yearn Finance Network (YFN)
Token type: ERC20
Token Price: 3.53$
Max supply: 70,000 YFN

Website Link: https://www.yfnetworkdefi.com/

You may want to crosscheck your information on that one. The total supply is 48,000 YFN and not 70,000. The project is already out and actively trading on Hotbit, Uniswap and Bilaxy at around $4+. See details here https://www.coingecko.com/en/coins/yearn-finance-network. BTW, it also had airdrops last week. It's a project am closely monitoring but don't know what truly moves the DeFi coins.

It still look very suspicious even when its listed on uniswap, hotbit and bilaxy.  But the github https://github.com/yfnetworkdefi made them look validated. The only you would be suspicious is that its not popular, the volume is too low yet the price of all these defi projects are high for an unpopular project.

You' have to wonder where the investors of these project came from to learn about them. If LSVDeFi doesn't ring a bell to you then just be careful sending your money.

[huu78]

They just want to be in trend most of the tokens you listed doesn't have any announcement thread here, for a reason that they don't want to be asked by old members and it can easily identified that they are scam if they make one.

Just ignore that kind of project ,if you can review a project by  your self and found thier mistake like you find they are using other people photo or copying other project roadmap you can open scam accusation so that project can be flagged as scam so that they can't find other victims here.

I agree with you, even this mimics the first defi bubble maker YFI token, even though the price is now very high but we know at first the price of YFI was at 30 $ which then could go up to 24000 $ in just 1 month.
but if you dare to take the risk there is nothing wrong with buying the token and hoping the price will rise then you can release it.
and iterates over to new tokens that have the potential to rise as well.

[CryptoYar]

no LinkedIn and proper team information etc, to cut the story short they are red flag that might be hard to see
~snip

That's what I always say. DeFi does not mean that the team should be hidden. It is a matter of thinking, how can we invest in a project whose team we do not know.
Besides, our investigation members are exposing so many projects on daily basis, Which shows how many scam projects are coming in the market

I just want to say that do not ever invest in a project whose team information is fake/or not available. Never invest just expecting that the concept of this project is good and will give you huge profits. Even more important is to have team information.

[Wenbing]

Hi fellas I'm here today to unleash some light on few DeFi projects that I've been seeing lately and it's kinda getting annoying because they keep pumping up every week, after doing few digs I find out they are projects aren't reliable, some CEO pictures looked washed out and stolen, no LinkedIn and proper team information etc, to cut the story short they are red flag that might be hard to see

They come in low max supply

Token name : something Finance, DeFi, etc
Token type: ERC20
Token Price: High from  3$ to 100$ per token
Total Supply: as little as in thousands, 10,000 , 25,000, etc

I'm starting to think these projects are from same players from the deflationary tokens haven, remember when deflation was a thing?

Here is list of suspicious projects that claim they are DeFi

1. LSVDeFi Finance (LFI)
Token type: ERC20
Token Price: 110$
Max supply: 25,000 LFI

Website link: https://lsvdefi.finance/

2. Phase Finance ( PHY)
Token type: ERC20
Token Price: 19$
Max supply: 30,000 PHY

Website link: https://www.phase.finance/

3. Yearn Finance Value (YFIV)
Token type: ERC20
Token Price: 35$
Max supply: 100,000 YFIV

Website Link: https://www.theyfiv.finance/

4. Yearn Finance Network (YFN)
Token type: ERC20
Token Price: 3.53$
Max supply: 70,000 YFN

Website Link: https://www.yfnetworkdefi.com/

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.

Here is my obeservation about these defi project listed above. Max supply of this token range from  25,000 to 70,000. These look very limited in suppy and as such would create artificial scarcity, which will lead to an upsurge of the price.

Well, i feel there is something fishing with that.

[Cryptoababe]

The projects are shit and scam projects with fake teams. This reminds me 9f blockclout that send airdrop to people to call thier attention to buy more. This was funny because unfortunately blockclout got exposed by coinmarketcap.
There are fake DeFi projects out there with low total supply and high price. Even there are fake DeFi bounties too. You are absolutely right.