Be careful with scam copycats of YFI

chanc3r

sr. member

Activity: 952

Merit: 253

Quote from: FerdyBitcoin on September 06, 2020, 05:35:08 PM

Thanks for sharing. As long as they are profitable, I DGAF if they have a web presence or not. I always make takeprofit my hobby. 😉

Are you still in the profit position? if you are and then how luck you are while almost all of people have invested in the copy cats of YFI coins have been facing horrible lost caused by the mint function that has already made by the developers itself.

If you are early player and you will be in the profit position but what about the late players and they will be losing all of their money.

This is gambling to the ponzi scheme.

FerdyBitcoin

newbie

Activity: 5

Merit: 0

Thanks for sharing. As long as they are profitable, I DGAF if they have a web presence or not. I always make takeprofit my hobby. 😉

2double0

legendary

Activity: 2618

Merit: 1105

This happens when investors blindly invest on a project without any proper research. When the owners themselves commit that the project is shit, investors should have taken immediate steps to save themselves from getting dumped. Investors investing their money on YFI even when YFI owners said that the token does not possess a market value and it cannot have any value, but investors pushed it high to over $35000, shows that greed can push any fake thing to skies.

popeye95

full member

Activity: 398

Merit: 100

Quote from: xOdiumNostrumx on September 05, 2020, 03:26:46 AM

I have dipped my fingers into the yield farming scene recently, for the first and the last time, got burned hard by Kimchi, but I was kinda expecting it, so I put in only a small amount. I feel that the farming irrationality is subsiding tho, these new projects that are listing now tend to pump just once and then they die off, leaving a lot of broke folks in their wake.

At least you come into sense and only invest a little in those copycats. They really understand the core of FOMO and take advantage of it by creating the hype with pump that put even a veteran in trade and invests become hard to resist it. After the Sushi and Kimchi and all the related, we need to understand that never become blindly and look at a coin only seeing its chart and pump.

Akoldi_ibk

jr. member

Activity: 1050

Merit: 1

It is not peculiar to crypto industry alone, it is a common trait everywhere. Once there is a huge success with a project or a product, like the case of YFI, copycats will spring up with different twist and tweak to entice unbothered investors. Scammers are seen on every corner looking for victims. The crypto community should be careful of Y family. Not all are with good intentions.

atree

newbie

Activity: 35

Merit: 0

YFIE just launched there website , not sure what to make of it https://yfi-group.com/

Malam90

full member

Activity: 1099

Merit: 116

Quote from: cryptolordd on August 29, 2020, 08:44:44 AM

Just an advice from me to you, do not invest in new YFI copycats popping up on daily basis due to the huge success of YFI. We all saw the surge with YFI price currently above 22,000$ which surpasses BTC price right now. This is causing a lot of FOMO and scammers are taking advantage to launch their own scam coins (YFI copycats). Examples are YFIE, YFIS which launched even without website or team information, yet people still FOMO to buy. Be careful please, just a peaceful advise.

People who will invest in YFI at high rate will face huge losses in the upcoming days and will regret. A coin 3x higher rate than Bitcoin can't be real. It's hype and will blast soon. So it is wise to not invest in YFI hype project. Investors should be aware about DeFi before investment decision.

Hypnosis00

sr. member

Activity: 2436

Merit: 343

Quote from: Dedewahyu on September 04, 2020, 12:08:37 AM

now scammers take advantage of this FOMO moment to get big profits
this is indeed very risky to enter, we better be more careful and selective in following projects such as YFI

Always and forever. T
his is the war over chances and most of us never lose their chances but to take the opportunity first. Greedy is what we play all the time and it is to admit that somewhat we have that too. This is the reason why we most suffered great losses because we are always tempted by this offering and we taught that it is legit, but sadly it's not. They are just milking NO-HOW individuals.

xOdiumNostrumx

full member

Activity: 1064

Merit: 101

I have dipped my fingers into the yield farming scene recently, for the first and the last time, got burned hard by Kimchi, but I was kinda expecting it, so I put in only a small amount. I feel that the farming irrationality is subsiding tho, these new projects that are listing now tend to pump just once and then they die off, leaving a lot of broke folks in their wake.

atree

newbie

Activity: 35

Merit: 0

Something been annoying me , ok lets say you wanted to scam , would you A build a great looking website slick design etc and also create a slick twitter page to go with it for information

or

B - design a rubbish looking page and a twitter full of not much

ok the answer should be A

now looking at YFIE they chose B which is why i am tending to think their either really bad scammers or they are legit

just some food for thought while looking at these yfi new stuff

sayulita

hero member

Activity: 881

Merit: 500

CyberTrade

Quote from: Dedewahyu on September 04, 2020, 12:08:37 AM

now scammers take advantage of this FOMO moment to get big profits
this is indeed very risky to enter, we better be more careful and selective in following projects such as YFI

People will always take advantage of this kind of opportunities whenever there is the slightest chance of success. It is not because the scammers are very clever it is because the investors are too greedy, they also know that the project is a high risk investment and is a copycat of the original YFI project and yet they go in, invest and when they have made a quick buck they sell the tokens and repeat the same with a new project, so somehow the investors are also as much responsible as the developers of these scam projects.

Dedewahyu

full member

Activity: 588

Merit: 103

now scammers take advantage of this FOMO moment to get big profits
this is indeed very risky to enter, we better be more careful and selective in following projects such as YFI

bits4books

sr. member

Activity: 854

Merit: 264

Crypto is not a religion but i like it

Quote from: Barbut on September 01, 2020, 12:44:58 PM

Quote from: Pamadar on September 01, 2020, 12:02:51 PM

Quote from: bits4books on September 01, 2020, 11:02:29 AM

Even my father will understand (if he looks at the charts) that YFI is a total bubble and just another DeFi-scam.
Is it not clear that it is just a bubble that will now roll down to zero/close and then what? Everyone will run and shout that it was a bubble and how did no one know?
Yes, everyone knew (and knows) only everyone wants to snatch their piece of this bubbly pie as usual.

Those people who love riding with the hypes, once they've suffer and become the victim they'll surely cry out.

There are people who still believing that there are instant way of earning money inside this sphere, you need to carefully analyze
each participation that you'll going to do it's your hard earned money so be very furious from each projects that you are eyeing with.

Watching from the side I think reasonable people will say that YFI is a bubble, only the ones who are paid to promote it are talking that it's great. I don't know where they find people to invest in this scam project, I hope nobody from here will touch it! It's not the only DeFi scam, in next period I feel like we will see a lot more DeFi scams, they just started operating, but soon that pyramids will start collapsing.

Exactly. The only "positive" meanings in such deceptions are
1) people who have lost money on projects will be much more attentive to such a sharp increase in prices for unnamed projects
2) those who understand how it works will be able to earn before this bubble bursts
I do not see anything wrong with the fact that such projects exist as all this is a personal responsibility. Simply then these same people who drowned for defi-projects will whine everywhere that they were deceived.

jambul_kribo

sr. member

Activity: 980

Merit: 250

Quote from: soulripper on September 01, 2020, 12:50:11 PM

Anything projects that goes successful will be in the eyes of scammer. So beware with scammer that has make a lot of defi look alike projects out their. They might get your trust blinded if you chasing the money you might fall for their bait. So always check on what project you wanna joined before you stuck with a shit token made by scammer.

scammer will duplicate its smart contract and put it in uniswap exchanges. this is the common way that scammer doing now, many investors that didnt research well be victim.

Quote from: fosco333 on September 01, 2020, 10:39:39 PM

Plagiarize coins are worst, we should not buy the coin because the coin can misleading the holders of original coins.
Safer to buy fork coins, but we still need to check the quality of the coin, why they forked from original coin and what the plan is.

too many coins with same WP or concept but investors didnt aware with this, they just thinking profit will come instantly when buy it.

fosco333

full member

Activity: 1260

Merit: 100

Plagiarize coins are worst, we should not buy the coin because the coin can misleading the holders of original coins.
Safer to buy fork coins, but we still need to check the quality of the coin, why they forked from original coin and what the plan is.

soulripper

full member

Activity: 381

Merit: 101

Anything projects that goes successful will be in the eyes of scammer. So beware with scammer that has make a lot of defi look alike projects out their. They might get your trust blinded if you chasing the money you might fall for their bait. So always check on what project you wanna joined before you stuck with a shit token made by scammer.

Barbut

hero member

Activity: 1694

Merit: 502

★Bitvest.io★ Play Plinko or Invest!

Quote from: Pamadar on September 01, 2020, 12:02:51 PM

Quote from: bits4books on September 01, 2020, 11:02:29 AM

Even my father will understand (if he looks at the charts) that YFI is a total bubble and just another DeFi-scam.
Is it not clear that it is just a bubble that will now roll down to zero/close and then what? Everyone will run and shout that it was a bubble and how did no one know?
Yes, everyone knew (and knows) only everyone wants to snatch their piece of this bubbly pie as usual.

Those people who love riding with the hypes, once they've suffer and become the victim they'll surely cry out.

There are people who still believing that there are instant way of earning money inside this sphere, you need to carefully analyze
each participation that you'll going to do it's your hard earned money so be very furious from each projects that you are eyeing with.

Watching from the side I think reasonable people will say that YFI is a bubble, only the ones who are paid to promote it are talking that it's great. I don't know where they find people to invest in this scam project, I hope nobody from here will touch it! It's not the only DeFi scam, in next period I feel like we will see a lot more DeFi scams, they just started operating, but soon that pyramids will start collapsing.

Pamadar

legendary

Activity: 2982

Merit: 1028

Quote from: bits4books on September 01, 2020, 11:02:29 AM

Even my father will understand (if he looks at the charts) that YFI is a total bubble and just another DeFi-scam.
Is it not clear that it is just a bubble that will now roll down to zero/close and then what? Everyone will run and shout that it was a bubble and how did no one know?
Yes, everyone knew (and knows) only everyone wants to snatch their piece of this bubbly pie as usual.

Those people who love riding with the hypes, once they've suffer and become the victim they'll surely cry out.

There are people who still believing that there are instant way of earning money inside this sphere, you need to carefully analyze
each participation that you'll going to do it's your hard earned money so be very furious from each projects that you are eyeing with.

bits4books

sr. member

Activity: 854

Merit: 264

Crypto is not a religion but i like it

Even my father will understand (if he looks at the charts) that YFI is a total bubble and just another DeFi-scam.
Is it not clear that it is just a bubble that will now roll down to zero/close and then what? Everyone will run and shout that it was a bubble and how did no one know?
Yes, everyone knew (and knows) only everyone wants to snatch their piece of this bubbly pie as usual.

makishart

legendary

Activity: 3108

Merit: 1029

Quote from: Bitstar_coin on August 31, 2020, 10:07:14 AM

I hope people can be able to recognise and differentiate the fakes from the original because YFI have really witness a huge success this past few days so I won't be surprise to see many fake and copycat of this project, good thing to warn people about this.

it will be a very difficult thing to make the differentiation for the fake and legit project because the fake project was stealing so many things started from logo, code and many more from the legit project. So many ico/defi/ieo discussion group was getting flooded by the the promotion for fake defi coin of YFI.

Topic: Be careful with scam copycats of YFI (Read 775 times)