The WORST DeFi Yield Farming Platform on Binance Smart Chain BSC - Cross Finance

[VoskCoin]

Crossfin Cross Finance CRP have exit scammed / rug pulled everyone, really disappointing especially since they were associated with Binance and their accelerator program.

Cross Finance CRP

[1715339015]

1715339015

[1715339015]

1715339015

[Atomicc]

SCAM * SCAM * SCAM

CROSS FINANCE

crossfin.io

Here is a full description, evidences, pictures and links for this high roller SCAM criminal DeFi project based on Binance BSC.
Hundreds of users lost their investments.
(Application for Binance BSC security is underway. I hope that Binance will justify the proclaimed policy of user protection and block the contracts and address of this  SCAM project)

It was on this thread that I read the latest for the new video, looked at it and became interested in the project. I have been following VOSK Youtube channel since 2017, and I consider it relevant. Over 153,000 Youtube followers and lots of good videos.
Also, I liked that the project is on Binance Smart Chain technology, because Binance has already shown that it cares about its customers and has already successfully returned the money for another SCAM project.

https://www.binance.com/en/news/top/1602980

CROSS FINANCE presented itself as an innovation in the DeFi world, where you participate in the Liquidity pool with just one token. Professionally complex site, and everything around it you need (Telegram, LinkedIN (later we'll see it's fake), Medium publications, DappRadar volume (also fake) etc ...)

The point is that you in nature invest in 4 "pools" with different interest rates (depending on the period of "locking" the token: Bronze, Silver, Gold, Diamond).
When you invest CROSS FINANCE, the amount of your BNB tokens is converted into their own stablecoin "USDY" at the current value on the day of investment.
You get interest in their DeFi token "CRP".
Upon expiration of the "investment" (day, week, month ...) you get the USDY value of your investment (part in USDY, part in CRP).
Sounds great, doesn't it?

Now begins the interesting part.
As before any potential "investment", I looked in detail at VOSK's video, DeFi telegram of the group, CROSS FINANCE WEB, EXCHANGE ... everything looks fine.
CRP token has daily inflation (which is normal in DeFi World)

USDY is a stablecoin, picture from CROSS FINANCE exchange:



On the medium they even explain that minor oscillations are possible but to always return the initial value.

After 2 days following the "investment", I accidentally noticed on another exchange (BurgerSwap) that the value of USDY "stablecoin" is significantly less than 1USD.



 At the same time, the CROSS FINANCE exchange is still 1USD, but when you try to change USDY to USDT (or BUSD), you get a significantly smaller amount. Upon further monitoring, I realize that their “stablecoin” USDY is losing over 10% of its value every day.



I contact them via Telegram, as it is possible that they have a published price of 1USDY = 1USD and their “stablecoin” is currently changing around 0.5USD. Over 50% value loss. They respond succinctly that it is temporary. I warn them that I have made a significant investment based on misrepresented information. They answer that it is a "bug" and an error on Exchange !!! I am asking for a return on investment due to misleading, but there is no answer.

With this kind of fraud, each user lost a minimum of 50% of the investment, and I believe thousands are at stake because they are described "as the second largest DeFi project at BSC", "the best DeFi Farm" ...
But that's not all.

If you look at the LinkedIN profile of their CEO:

https://www.linkedin.com/in/romancrp/

and compare it to the LinkedIN profile of the same name and the same photo:

https://www.linkedin.com/in/romanandriychuk/?originalSubdomain=ua

Someone here is lying and misrepresenting themselves.



I believe this is more than enough evidence to show that this is a sophisticated SCAM, and I am sure Binance will respond.
If additional evidence is needed, there is more.

[Atomicc]

UPDATE November 9th.2020:

They just close the public telegram group, rearrange their TEAM part of the web (part where is their "LinkedIN data were announced")

Same "account" no picture, no name...


Probably the exit SCAM started...

[Atomicc]

UPDATE:

Cross Finance "Stablecoin" USDY went to 0.29USD!!! This "stablecoin" was a base of their all liquidity pools. Also, their DeFi coin CRP lost 30% in last 24 hours.

Ongoing EXIT scam.

[Atomicc]

UPDATE:

Scammers close Telegram group, delete LinkedIN profiles, USDY (their "stableCoin" drop 59% in 24 hours). Ongoing EXIT scam.
Just as reminder, CROSS FINANCE was the second biggest DeFi project on BSC platform. Presented from independent reviewers (including VOSK) as "the best Yielad farm".

[Atomicc]

UPDATE:

Cross Finance, Crossfin, CrossFinance

Their "stablecoin" lost 95% of it's value. Now it is 0.05USD!!! But, they still try to get some investors, trying with their telegram group (where they have at least 7 fake accounts). "Selling" the story, that everything will be OK.

This is second serious SCAM on BSC (Binance Smart Chain), and they took over 500.000USD of users.

[JeffBrad12]

UPDATE:

Cross Finance, Crossfin, CrossFinance

Their "stablecoin" lost 95% of it's value. Now it is 0.05USD!!! But, they still try to get some investors, trying with their telegram group (where they have at least 7 fake accounts). "Selling" the story, that everything will be OK.

This is second serious SCAM on BSC (Binance Smart Chain), and they took over 500.000USD of users.

Lol BSC will be another crap product. WTF is happening with BSC? even a scam project can steal the user's money. I see that in another case binance has been returning $300.000 worth of money that has been stolen by another scam project on its BSC.
BSC was getting flooded by the scam project soon.
A normal binance chain with fully audited is much better rather than BSC.

[Atomicc]

Exactly.

Binance promote BSC network as a safe place for users. They invest and support Dapp developers with their own fund. Like AnySwap, PancakeSwap, BakerySwap... Just to motivate them in participation on BSC.
Unfortunately with SCAMs like this they are losing credibility and users. This scammers from crossfin.io (Cross Finance), made even a fake volume and users.
They even tricked VOSK to promote them as a BEST DeFi Yield Farm. A lot of users lost their money following those videos.
Everything is reported by community to Binance, Binance Security, Binance DeFi...but action is stil "on hold".

So, BSC is not a safe place at the moment...Binance need to make an action...

[SamboNZ]

Exactly.

Binance promote BSC network as a safe place for users. They invest and support Dapp developers with their own fund. Like AnySwap, PancakeSwap, BakerySwap... Just to motivate them in participation on BSC.
Unfortunately with SCAMs like this they are losing credibility and users. This scammers from crossfin.io (Cross Finance), made even a fake volume and users.
They even tricked VOSK to promote them as a BEST DeFi Yield Farm. A lot of users lost their money following those videos.
Everything is reported by community to Binance, Binance Security, Binance DeFi...but action is stil "on hold".

So, BSC is not a safe place at the moment...Binance need to make an action...

So, Basically binance should really need to know the creators of these platforms in order not to get dragged into more scams. I thought they would learn and be more careful after the Winsewap fiasco.

[VoskCoin]

Exactly.

Binance promote BSC network as a safe place for users. They invest and support Dapp developers with their own fund. Like AnySwap, PancakeSwap, BakerySwap... Just to motivate them in participation on BSC.
Unfortunately with SCAMs like this they are losing credibility and users. This scammers from crossfin.io (Cross Finance), made even a fake volume and users.
They even tricked VOSK to promote them as a BEST DeFi Yield Farm. A lot of users lost their money following those videos.
Everything is reported by community to Binance, Binance Security, Binance DeFi...but action is stil "on hold".

So, BSC is not a safe place at the moment...Binance need to make an action...

First off, excellent research, I know how much time and effort stuff like that takes.

Second off, I'm really disappointed that we reviewed their platform and they exit scammed / rug pulled. I appreciate you noting in your write-up that at the time of our review, everything was fine -- which was why we agreed. It's the simple issue of... something isn't a scam.. until they scam -- for example Binance the actual exchange could just take every coin on there and disappear tomorrow or insert any other name/service.

Anyway, we are removing the video to reduce any more potential exposure to them -- stuff like this is really frustrating, I hope no one incurred serious losses. I also edited this thread and title to reflect the SCAM that is cross finance and their BS team.

[Atomicc]

First off, excellent research, I know how much time and effort stuff like that takes.

Second off, I'm really disappointed that we reviewed their platform and they exit scammed / rug pulled. I appreciate you noting in your write-up that at the time of our review, everything was fine -- which was why we agreed. It's the simple issue of... something isn't a scam.. until they scam -- for example Binance the actual exchange could just take every coin on there and disappear tomorrow or insert any other name/service.

Anyway, we are removing the video to reduce any more potential exposure to them -- stuff like this is really frustrating, I hope no one incurred serious losses. I also edited this thread and title to reflect the SCAM that is cross finance and their BS team.

Thank You very very much for Your support. Appreciate it. They also tricked You... scammers, and they still try to attract some people to invest...
I am very disappointed with Binance's reaction. I reported SCAM in all possible ways ... No reactions ... unfortunately.
I thought that BSC is a safe, but more an more SCAM projects are there.