DeFi project of the liquidity mining pool Yfdexf.Finance left the market after investors blocked $ 20 million of assets in its protocol, reports ZyCrypto.
Yfdexf ran an active two-day campaign across multiple platforms including Twitter and Telegram, promising raffles for retweets and hashtags.
After the exit-scam of the project, its website does not work, the accounts in social networks that were used to attract investors have been deleted. Yfdexf did not honor promises to pay for the promotions.
Another day, another DeFi scam!
After promoting themselves on Twitter for 2 whole days, Yfdexf has taken a total of $20M of Investors funds in their recent exit scam.
99.99% of DeFi Tokens are scams, and will go this route. Please be very careful if you are heavily Invested. pic.twitter.com/WEkg7Sqo9i
— CryptoWhale (@CryptoWhale) September 9, 2020
“99.99% of DeFi tokens are scams and they will go this route. Please be very careful if you have invested a lot, ”commented a trader and entrepreneur under the nickname CryptoWhale on the incident.
Formerly an analyst firm SlowMist reported on the alleged $ 2.5 million exit scam for the EOS-based DeFi EMD project.
In such a fraud, users suspected the anonymous administrator of the SushiSwap protocol “Chef Nomi” after sales them half of the assets from the developer fund for $ 27 million.
Names conveyed DeFi platform management by FTX CEO Sam Bankman-Fried. The latter’s team launched the previously planned liquidity pool migration process with the leading DEX Uniswap. As a result, the volume of assets frozen in SushiSwap exceeded $ 1.3 billion, while Uniswap’s collapsed below $ 350 million
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