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.

IvugeoEvolutionCoin

sr. member

Activity: 952

Merit: 267

Vave.com - Crypto Casino

So many people will get rekt chasing all new YF tokens, especially on uniswap. Up to 5 surface daily and some run with investor funds. What they learnt to do now is to lock some tokens on uniswap via UNC to build investor trust, with no aims to deliver product, just to sell their tokens. The YFIE and YFIS that OP mentioned belonged to one project, till date they haven't updated website as promised then today they came up with a new token entirely YFIV or so. These rugs keep scamming cryoto investors and investors won't learn their lessons.

Bezobraznike

sr. member

Activity: 1274

Merit: 261

★Bitvest.io★ Play Plinko or Invest!

Quote from: kindbtc on August 31, 2020, 03:19:32 PM

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.

Everyone needs to be careful, I was shocked to see similar named tokens being purchased in large amounts at uniswap. I do not know if people are actually buying them or they are being scammed by presenting similar looking tokens, this game can turn ugly very quickly i hope authorities will be keeping an eye on the situation and the scammers who are selling fake tokens.

Today I saw an article on Publish0x about all YFI forks, here is the link https://www.publish0x.com/paragism/know-all-yfi-forks-xyvdpoz. I was amazed how many of them there is, and when there is so many of them, most of them are probably scams.
Now people should be extra careful with new DeFi projects. Most of them are following hype and wish to take money from people.
I would go with well-known DeFi projects, every new one is huge risk.

kindbtc

member

Activity: 1008

Merit: 12

SAPG Pre-Sale Live on Uniswap!

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.

Everyone needs to be careful, I was shocked to see similar named tokens being purchased in large amounts at uniswap. I do not know if people are actually buying them or they are being scammed by presenting similar looking tokens, this game can turn ugly very quickly i hope authorities will be keeping an eye on the situation and the scammers who are selling fake tokens.

Keeng Daveed

jr. member

Activity: 34

Merit: 1

Thank you so much for this. The rate at which this scams keeps coming up each day with new strategies, Its not even encouraging me to invest at all, I love taking risk tho... But it keeps going against my strong heart I wish scams can be totally gotten rid of

el kaka22

legendary

Activity: 3654

Merit: 1165

www.Crypto.Games: Multiple coins, multiple games

I feel like there is no need to be a copycat of YFI, it is not good enough to have its own copycat, let alone an interest towards that itself which is weird enough.

Crypto world is weird, you never know what thousands even tens of thousands of people will show attention towards, I remember like it was yesterday the moment when ICO world got its first billion dollar month, it made no sense to me that people would invest over a billion dollars inside one month into some new coin world where new coins weren't even researched that much and there was dozens of them, look at the market right now and you will not see even 10% of them high, most of them just died down and became nothings yet at the time people invested so heavily into them. All of these will be gone in few years as well I am sure.

Bitstar_coin

hero member

Activity: 2478

Merit: 695

SecureShift.io | Crypto-Exchange

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.

Bossfidelity

copper member

Activity: 350

Merit: 1

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.

Thanks for the heads up, I was surprised when I read about YFI. The major reason why the value increased that much was because of the supply of only 30,000 tokens and the tokens was earned by carrying out task in providing liquidity for other tokens of the project. Most people may get confused about the project name and invest in other similar ones without a use case

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: Twinkledoe on August 29, 2020, 05:00:23 PM

And aside from these YFI copycats, is YFI itself really worth to invest? In my opinion, they are just capitalizing also with FOMO as checking their site - https://yearn.finance/earn it says they are still in beta. So what added value are they offering to the community right now why they are very expensive in the first place? So you also need to be careful with this YFI project itself because they have no solid foundation why they are having that kind of price.

YFI is too good to be true) It has been a month and a half since the credit DeFi Protocol Yearn.Finance was launched. During this time, the token price has increased from $34 to 37,000. The new YFII and YFFI clones, which were designed for inattentive users, were not able to repeat the success of Yearn.Finance.

codpku

member

Activity: 336

Merit: 10

Yak im agree with you we have to becareful with all this hype just like all the trend in 2017 we take all the hype of ico that lot of scam project back then
Now with all the success to YFI and all the family of Y lot of scammer take the advantage and make lot of people lose lot of money
So we have to really know first where we spend our money was

btcltcdigger

hero member

Activity: 2086

Merit: 761

To boldly go where no rabbit has gone before...

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.

Lets not forget, on uniswap you can find the exact same token (same name different contract) for a fraction of the current $33k price.
Many people will get swept by greed and buy in, only to find out, it's a fake scam coin

gikere

member

Activity: 171

Merit: 11

The wild appearance of YFI and how unnature it got to such a high price already put a lot of investor and trader at lost. Now, those YFI copycats come like a wildfire and I already saw a number of people fall for FOMO of them. This YFI coin really brings out a lot of trouble with it and I'm sure the YFI and its copycats are going to be dump soon.

Claudio99

member

Activity: 210

Merit: 10

Sovryn - Brings DeFi to Bitcoin

I don't trust this project, it's concepts isn't that great and it's just based on DeFi hype, if you are me I would definitely walk away, good returns for those who buy very cheap but buying now is what you don't want to do, YFI can end up like YAM YAM

TheGreatPython

sr. member

Activity: 2660

Merit: 339

Be aware of YFI itself because there is absolutely no reason why it should be that high, I didn't even know there was that much attention towards YFI all together, looking at what is going on with the situation right now, I would be very very careful, it is centralized and there are people who are super rich thanks to this right now, meaning they may want to get out very quickly to have a ton of money and get out.

The price has gone up a ton recently, I don't know why there is absolutely a tear of a big increase in it right now, I would assume that people would show some interest but we are talking about some insane unthinkable amount of increase right now, that is not really believable and because it is so unrealistic I would assume that there must be something wrong.

imstillthebest

full member

Activity: 1638

Merit: 122

i check its price and its now 31,871 usd . it means that the coin is still growing till the moment you write 22kusd as its price . id never believe it at first but i witness it with my verry own eyes , damn this was the first coin i guess that surpass the value of btc .

is it ? so much hype happening on the crypto space by this year 2020 but so many bad events happened on the real world .

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

Oh really so the scammers will take advantage of making YFI copycats. What a genius move by scammers lol. Maybe some newbies will fall for this, we should spread this to warn them.

I am sure the scammers will get their way to scam people with their knowledge. People tend to have a will to make a quick profit from the project, and that will be used by the scammers to tempt the people to join with their fake projects. We need to be very careful of this and don't get too deep if we do not yet know much about the project. I am sure that we can decide carefully, especially if we have a bad experience in the past, so that can be the lesson that will make us search for as much data as we can.

triangles

full member

Activity: 566

Merit: 107

Quote from: Menawi12 on August 31, 2020, 03:12:37 AM

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.

With the skyrocketing price of YFI, many projects are copied and I agree we need to be careful. If you want to invest in YFI, it's better not to buy copycats because they are prone to pump and dumps.

Besides being pumped and dumped, people who bought YFI Copycats presale tokens could be scamed at the beginning and all the presale funds they get might be mixed directly on Tornado Cash or other mixing sites, and I hope this will not happen especially if Anyone who buys this in large quantities is bound to be painful.

Inkdull

member

Activity: 238

Merit: 10

Investors need to be careful, not just YFI token has copycats now, even some DeFi tokens on uniswap are scam tokens, you need to check tokens smart contract very well and make sure it's the original, some have already fall for this

Menawi12

member

Activity: 700

Merit: 10

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.

With the skyrocketing price of YFI, many projects are copied and I agree we need to be careful. If you want to invest in YFI, it's better not to buy copycats because they are prone to pump and dumps.

Apostlekin$$$

member

Activity: 238

Merit: 17

Sovryn - Brings DeFi to Bitcoin

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.

Even YFI is not a safe investment presently, before heading into this project just think about if the price start dumping, it will be a huuuge loss, I'd rather find a fresh DeFi project that's still affordable and take the risk instead of investing on a token that's already overpriced.

jjigoku

newbie

Activity: 34

Merit: 0

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.

I guess its fair to claim - it would be hard to find anyone at this forum who could invest in YFI copycats because of fomo.
I mean I've considered a possibility to invest in YFI, but its not worth it anymore - the growth has happened, I can't hop on train that already left.

Bitbtc8

full member

Activity: 1148

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.

Thanks for the advice but the fact is only those who want to learn will listen, investors don't care much about the risk, whichever ways the profit comes from doesn't bother them much, in 2017 many people made lots of profits from scam ICO projects too

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

Quote from: ?? on ??

The rate of the copy cat is just outrageous, infact I see so many these days that I can't even remember, traders and investors should be careful and do more research before investing and especially those ones only listed on uniswap, only today I saw two coins exit scam, all posing to be in the y family. Well, in everything you do, try to be unique and there will be lots of copycats all over you.

Don't know why people get so upset in this space when copycatting has been around since crypto was born. Some copycats get so brazen (everyone forgot about how EOS just basically cloned a blockchain and then went on to raise almost a billion dollars in a whole year ICO) but people just blink and forget. Either leave it. Or get over it.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

This reminds me about the ICO Boom period back in the day, because you got a load of tokens being pumped for no reason. This is definitely not going to end well for many people.

We also had the "Cloud mining" (Ponzi scheme) thing on this forum, where people actually thought they invested in actual hashing power and it turned out that it too was a scam.

Roger Ver used this naming strategy to use a close name to the original to confuse people into buying the wrong token and this is what we are seeing here with all these Copy cats. Roll Eyes

gabbie2010

sr. member

Activity: 2842

Merit: 326

Vave.com - Crypto Casino

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.

Thanks for your prompt warning here I hope greedy investors or newbies will not defy this warnings these copycats YFI projects will surely surface in bounty section in multiples in days ahead while some might be legitimate a lot of them will turn scam, YFI price is too volatile and obviously difficult to trade or hodl it can also dump massively thus inflicting huge losses to investors who bought at peak.

Coin_trader

copper member

Activity: 2800

Merit: 1179

Leading Crypto Sports Betting & Casino Platform

Quote from: Kotone on August 31, 2020, 12:57:06 AM

There are lots of YFI versions already so better to do quick research before anyone go into fomo. I always do some background checking on the project especially if the product is working or not. YFI is really a hidden gem with limited supply like that, there is no suprise that the price already peaked at that level if you also consider the max total and circulating supply. Landing on major exchanges also boosted the way yfi earns.

YFI is a garbage Ponzi coin, You should never trust all its cooynproject and also YFI itself. The value of the coin is pure speculation and hype. They are offering a 95% APR which is crazy and most the traders that buying this coin is just riding there hype. This will dump in an instant once it reach the point that no new buyer entering the market. Keep safe guys and always DYOR.

Kotone

hero member

Activity: 1372

Merit: 503

There are lots of YFI versions already so better to do quick research before anyone go into fomo. I always do some background checking on the project especially if the product is working or not. YFI is really a hidden gem with limited supply like that, there is no suprise that the price already peaked at that level if you also consider the max total and circulating supply. Landing on major exchanges also boosted the way yfi earns.

YOSHIE

legendary

Activity: 2128

Merit: 1775

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.

Yes, you are right, i also often find the same scamer moldy nowadays.

YFI (yearn, finance) currently has only two twins bearing the same emblem / logo.
Twin:

Apart from this, it is a YFI copycat coin.

Be careful with scamer on behalf of a fraction of YFI.

rajakulam

full member

Activity: 616

Merit: 102

Yes, that's right, don't let us be influenced by new coins on behalf of YFI, now we have to be extra careful before investing in newly emerging coins, because in cryptocurrency investing there are a lot of scams like this.

ancafe

hero member

Activity: 1778

Merit: 746

Well, this is the first coin I know to be popular that has a price greater than bitcoin. however, I also discovered this out of the blue, and have been listing heavily in several markets. yeah, but I won't invest in this coin either. some coins in the past that had very high prices suddenly didn't last long. I hope these coins don't have the same story.

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

Quote from: zulfi125 on August 30, 2020, 02:52:57 PM

Actually, this is people's habit when any project got to succeed or famous in the market than other people copycats that project will little changes in name or brand. In the past, this is a no new technique to copycat the successful project. So really appreciate to you informing us.

That's true and then when the hype has gone and people who are still holding these copycat tokens will be dumped. So many times we have experienced the same thing started from the ico bubble, and then bitcoin fork coin bubble, altcoin copy cat bubble and this time defi token bubble. They were all the same.

Baofeng

legendary

Activity: 2576

Merit: 1655

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.

And just as expected, this is the usual style of scammers and cyber criminals, they copy the success of other projects and even have a close name to the original so that those unsuspecting victims wouldn't notice it and instead think that it is the same project or a new one and it will also be a success. As for the original, you have to be very careful as well, it has grown so much that there is a big bubble already. FOMO is real and so when this burst, it is going to have a negative impact to altcoin market.

Kelvinid

sr. member

Activity: 2828

Merit: 344

win lambo...

I'm not sure if that is not obvious to see but as you as an investor, we should have to know it.
a lot of ways that scammers and any form of Ponsi Scheme sprung around and it was not new to us, however, still a lot of people send complaints that they have been scammed. I'd don't think that we don't know about scam but because we blinded by those attractive offers, double your money, easy gains, become a millionaire after investing?

Definitely, you'll get caught and fall into a scamming scheme and you just realize it after.
FYI copycat's is a new trick but this kind of scam isn't new that is why we know already if this the same or not. Should we have to invest them? Well, that be your choice.

shollyen

jr. member

Activity: 344

Merit: 1

Quote from: ?? on ??

People have gone crazy, yfi is only pure FOMO, the coin's function is not worthy of being appreciated that much, I have lost my mind with the crypto ecosystem, this is just a pure hope, don't buy yfi at the current price.

This goes beyond warning people not to buy the real YFI. No matter how much you try to say that, some people will still remain headstrong in buying.
The best thing at this juncture is to guide them not to go for the the scam coin, because it will lead to a total loss. Scammers are always around coins with hype. You cannot stop them.

doctor877

full member

Activity: 896

Merit: 115

It's a normal thing for people to fomo , those that will get burnt will surely be burnt and regret it. It's kind of a new level of wave. The copycat are just here to move away with peoples funds. The perspective that is being given about Cryptocurency Investment is just for profit alone. If people keep focusing on it alone it will take much time for other goals to be achieved. It's what we need to let newbies understand.

zulfi125

full member

Activity: 1382

Merit: 105

Actually, this is people's habit when any project got to succeed or famous in the market than other people copycats that project will little changes in name or brand. In the past, this is a no new technique to copycat the successful project. So really appreciate to you informing us.

Wapfika

hero member

Activity: 1288

Merit: 564

Bitcoin makes the world go 🔃

Quote from: cepot9 on August 30, 2020, 11:34:02 AM

These projects are really crazy, they go up fast and even exceed the price of bitcoin. I didn't find anything interesting in their project. Of course this increase makes bad people take advantage of it by making similar projects and claiming to be part of them. Everyone should be careful about it all and also on the recent Defi project

DEFI Hype is like the ICO days when it started every projects even no definite use became successful due to hype. The price of YFI now exceeds BTC and can create more hype into new investors I see the price of it before around 0.5 and considered it already high then its too high now. Those who will still invest should think carefully they might left hang in there since it's all just about being FOMo.

cepot9

full member

Activity: 1050

Merit: 102

Cryptocurrency addict | Invest at your own risk.

These projects are really crazy, they go up fast and even exceed the price of bitcoin. I didn't find anything interesting in their project. Of course this increase makes bad people take advantage of it by making similar projects and claiming to be part of them. Everyone should be careful about it all and also on the recent Defi project

Sebas.tian

full member

Activity: 2184

Merit: 184

Hire Bitcointalk Camp. Manager @ r7promotions.com

Thanks for this advise. Even the YFI can't be said to be legit project still because of it rate of profits. I think we should be more careful than during the ICOs days because similar things like this has happened when investors had to loss all their investment. Scammers has already entered into the defi world as we have seen with YAM. Copycats springing out of this digital innovation is inevitable, as such the entire cryptocurrency community should be mindful of their involvement with new defi projects without solid and convince utility.

restuibu

full member

Activity: 994

Merit: 100

well as the OP said, now very many tokens have similar names, so if you really want to invest in the original YFI, make sure you visit coinmarketcap and buy via link exchange there

Princejebs

member

Activity: 560

Merit: 26

There is this finance movement on new alts that has been coming recently, am I the only one seeing them? The likes of dice_finance, Dex_finance etcetera on coin market cap and they are heavily pump. I hope this is not repeating of 2017 ICO days. Many hands will be burn and they will blame it on bitcoin as usual.

Divinespark

hero member

Activity: 938

Merit: 501

Quote from: flagpara on August 30, 2020, 10:15:44 AM

Excellent pump! Today is "yearn.finance" price is over 29k USD and the highest hit price is 34.5k USD. I don't recommend anyone to invest in the YFI project. The price is so high. Holding or selling decisions should apply as coin supply. I found a topic about "Curio" ERC-20 tokens, because the lowest supply price surpassed 4 USD.

An amazing growth for CUR, A few weeks ago I saw a topic talking about this project. OP wanted to invest in it when it was at $ 0.5, a lot of people said its price was too high and this was a bullshit project. But after only 2 weeks the price has increased by 8 times and is still increasing, it is really a great project.

Pasutinmeur

full member

Activity: 302

Merit: 100

Quote from: ?? on ??

yes, thank you for reminding us all, I have also heard the news that the Defi YFI token has pumpvery significantly and has even surpassed the price of BTC itself. This of course can be misused by scammers to rake in investors' money through their junk tokens that resemble YFI tokens.

That's only ponzi coins and those who are throwing their money to the YFI family coin will be dumped by the whales who have already started to pump the YFI coins.

Basically, the real YFI coin was year.finance but after that coin has been getting a very big increase and there were so many duplicates coin. You will see a lot of people will be losing their money caused by the crap coins.

flagpara

full member

Activity: 756

Merit: 100

Excellent pump! Today is "yearn.finance" price is over 29k USD and the highest hit price is 34.5k USD. I don't recommend anyone to invest in the YFI project. The price is so high. Holding or selling decisions should apply as coin supply. I found a topic about "Curio" ERC-20 tokens, because the lowest supply price surpassed 4 USD.

so98nn

hero member

Activity: 2114

Merit: 603

Man this is so crazy! I just saw the thread and went on to check the CMC for this coin. I can't believe there are such projects, and devils behind them who are pumping this temp coin. Why in the first place would they make such coin and worst thing is why would people get attracted to it where it seems to be hyip or ponzi stuff.

27k USD price for a coin that's 1.5x the BTC who made its career through a decade of year!! It struggled from penny price to dollars to thousand dollar window.

And here are Ponzi coins like yfi which is but obvious to put into ignore list. Lolz

20kevin20

legendary

Activity: 1134

Merit: 1598

Quote from: Twinkledoe on August 29, 2020, 05:00:23 PM

is YFI itself really worth to invest? In my opinion, they are just capitalizing also with FOMO as checking their site - https://yearn.finance/earn it says they are still in beta. So what added value are they offering to the community right now why they are very expensive in the first place? So you also need to be careful with this YFI project itself because they have no solid foundation why they are having that kind of price.

They were smart enough to set their supply to way fewer coins than most cryptos, and that attracted a lot of attention from everyone. If you were to multiply the 30k supply by 700 times (to get to BTC's max supply) and then divide the current price (~$29k) by 700, at Bitcoin's supply it'd be worth $41.5 right now. It's a very very vague calculus but I'm only considering the supply & price/coin.

In other words, it may be more expensive than Bitcoin but do people really not care about anything else besides price at this point?

Serco

sr. member

Activity: 1050

Merit: 250

many YFI duplicate now occuring in market, dev team trying to get positive impact from YFI hype . YFI price even more expensive than bitcoin and investors very interested with "YF" project, so while there are new another " YF " they recognized it as good speculation who know they will get alot profit like on YFI. their choice only Rug or Profit.

BayAngelo

member

Activity: 882

Merit: 17

If you check the top 100 coin in the coinmarketcap, 40% of the token on the list are Defi project. this is the exact reason for the fomo. nobody wants to miss out in the current Defi launch. everyone wants to be an own defi token and this causes the rush. with the recent acceptance of crypto by some traditional financial systems, Defi project will go a long way.

plvbob0070

copper member

Activity: 658

Merit: 402

I have seen a lot of YFI in the market and there's a lot of them in the Uniswap. I don't even know this coin but what really shocked me is the price of this token is higher than bitcoin and as of now the price of YFI is around 32,000$. I've also read several comments in the crypto signal and they said be careful in investing in YFI because the price is being manipulated (I'm not sure if this thing is really true or not but it seems like that). Always do research whenever we buy a coin in the market and by just doing simple research we can distinguish which are the legit one and not. I also suggest don't invest in this kind of coin even they have good growth in the market and it's better to stay away from this.

cryptolordd

newbie

Activity: 6

Merit: 4

Quote from: Twinkledoe on August 29, 2020, 05:00:23 PM

Quote from: wmaurik on August 29, 2020, 04:52:30 PM

No wonder the copycats trend is because like in the past, when bitcoin bull run in 2017, there were a lot of projects using Bitcoin name and now it's happening at YFI, if you want to invest in projects that are indicated as copycats, you have to be a little vigilant and never be greedy when copycats project goes up because you can be caught in a trap

And aside from these YFI copycats, is YFI itself really worth to invest? In my opinion, they are just capitalizing also with FOMO as checking their site - https://yearn.finance/earn it says they are still in beta. So what added value are they offering to the community right now why they are very expensive in the first place? So you also need to be careful with this YFI project itself because they have no solid foundation why they are having that kind of price.

At least YFI has a beta product to showcase and also very good backings, unlike many new other copycats. However, I'm not and don't plan to invest in YFI since i don't FOMO into coins because of price surge. Some people know nothing about YFI but due to the consistent price increase, they invest.

lepbagong

full member

Activity: 2268

Merit: 121

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: ?? on ??

We have seen some projects coming up like that, though I have seen two which are doing well right now, they appear tempting but we must be very sure before investing in such projects. The rate at which these coins are going up is alarming

means that it is true that it has been running and it seems that many have participated in it even though it may not be a scam or it is definitely a scam. maybe just use the token name moment which is in the spotlight. but hopefully it won't be a fraud if it's still going on.

LogitechMouse

legendary

Activity: 2576

Merit: 1043

Need A Campaign Manager? | Contact Little_Mouse

Don't invest into the scam copycats of YFI but also don't invest in YFI too as of this moment.
There is a huge pump on the coin itself and there will be some time that it will go down very hard. Very hard that you can't imagine if you bought at the top.

Coin will continue to rise?? That's bullsh*t man. Every coin that goes up will go down at some point and even Bitcoin did it. A coin that just popped out of nowhere is now hyping those newbie investors. Well, you will not learn if you aren't experience it the hard way so if you still want to invest into YFI and these copycats then good luck Cheesy

.

Pamadar

legendary

Activity: 2982

Merit: 1028

Quote from: joinfree on August 29, 2020, 06:54:40 PM

Thanks for the heads up but I think we should all be very careful which coins we invest in and also take links from official pages.

Official project pages is very important to avoid being scammed, following the right team and not just by following with
some links it's prone to being targeted of phishing site.

Quote

For instance I have noticed scammers making copies of fake coins like Open Predict Protocol in order to deceive investors.

Correct, Scammers can easily copy or duplicate the sites and start getting info to get your details or to get your investments.

Quote

Let us not be greedy and also don't FOMO into coins or tokens when you see a spike in price

Correct, proper understanding and do your DYOR as always.

Zemomtum

full member

Activity: 1316

Merit: 104

CitizenFinance.io

As crypto advances, if any project cannot visually display the team involves and their background, I turn back immediately irrespective of the quality of the project. You should be visible in terms of holding regular video meetings and give regular update to the community about the progress of development.

pikkie

sr. member

Activity: 924

Merit: 256

well even though like that, take advantage of the opportunities that exist to make a profit because we all know that no coin can have a price this expensive and the price is very good, it looks like the price movement always goes up, so there's nothing wrong with entering and using YFI to make a profit and what I do know that many investors are starting to enter and try to take the risks that are there to get a profit.

joinfree

sr. member

Activity: 1274

Merit: 260

1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

Thanks for the heads up but I think we should all be very careful which coins we invest in and also take links from official pages. For instance I have noticed scamers making copies of fake coins like Open Predict Protocol in order to deceive investors. Let us not be greedy and also don't FOMO into coins or tokens when you see a spike in price

maxreish

sr. member

Activity: 1330

Merit: 326

Obviously, no website and ann leads to scam and fraudalent acts.

YFI has scam accusations since last month.

Quote from: https://cryptobriefing.com/scam-accusations-copycat-yfi-coin-offers-18-weekly-roi/

- YFII token has popped up on the crypto market this week, offering a weekly ROI on yCRV staking of over 10%
- The too-good-to-be-true APYs have led many to label the copycat YFI token a scam
- As protocols admins have burned their keys, many have discussed whether a truly decentralized protocol can be a scam

They're certainly making it a hype and other investors are hooked by this new good to be true returns. It's a trap, don't be too silly to buy the crap. 18% ROI weekly is really hard to believe.

pedpedped101

jr. member

Activity: 552

Merit: 1

I was formerly thinking of something else as regards this YFI coin, but as soon as I checked the market watch sites for the exchanges it is trading and I saw Binance, I was amazed.
Not only that, it has a decent volume and it showed that it can be traded.

AmoreJaz

legendary

Activity: 3122

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: qiwoman2 on August 29, 2020, 05:20:42 PM

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.

We really don't know yet if YFIE is going to scam or not. We need to wait and see if there is going to be a website launch etc before we can say there is going to a rug pull. I do agree though many DEVS are going to try to rake in a lot of money on the success of the original YFI and already there are few..I am still waiting of confirmation of the website. I think there will be scams but let's see if YFIE is real or not. The next 2-3 days will really give us the proof we need to see if it is really legit or if it will scam out. I am waiting to see if the website will launch or not over the coming days.

i guess dont wait to be scammed before realizing they are just here for the money. they are delaying again the launch of their exchange and yet the price seems to skyrocket. be careful in this kind of scheme. their site seems to be a cheap one, though just my impression here.
there will be more of these copycats in the coming days. but ask yourself, is the original YFI really doing their job? what is their offering to the community? nothing yet right?

qiwoman2

legendary

Activity: 2114

Merit: 1023

Oikos.cash | Decentralized Finance on Tron

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.

We really don't know yet if YFIE is going to scam or not. We need to wait and see if there is going to be a website launch etc before we can say there is going to a rug pull. I do agree though many DEVS are going to try to rake in a lot of money on the success of the original YFI and already there are few..I am still waiting of confirmation of the website. I think there will be scams but let's see if YFIE is real or not. The next 2-3 days will really give us the proof we need to see if it is really legit or if it will scam out. I am waiting to see if the website will launch or not over the coming days.

ololajulo

sr. member

Activity: 2240

Merit: 270

SOL.BIOKRIPT.COM

It is very important to follow all projects of interest on every social media units and get a contact for inquiries. Any project which is responsible will provide a team member on all those fronts to attend to the community's challenge and questions. The reason for such support any time with suspected scam approach is to prevent falling victim to them. Most unnecessarily good offers in cryptocurrency are not reliable.

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: wmaurik on August 29, 2020, 04:52:30 PM

No wonder the copycats trend is because like in the past, when bitcoin bull run in 2017, there were a lot of projects using Bitcoin name and now it's happening at YFI, if you want to invest in projects that are indicated as copycats, you have to be a little vigilant and never be greedy when copycats project goes up because you can be caught in a trap

And aside from these YFI copycats, is YFI itself really worth to invest? In my opinion, they are just capitalizing also with FOMO as checking their site - https://yearn.finance/earn it says they are still in beta. So what added value are they offering to the community right now why they are very expensive in the first place? So you also need to be careful with this YFI project itself because they have no solid foundation why they are having that kind of price.

wmaurik

hero member

Activity: 2058

Merit: 710

No wonder the copycats trend is because like in the past, when bitcoin bull run in 2017, there were a lot of projects using Bitcoin name and now it's happening at YFI, if you want to invest in projects that are indicated as copycats, you have to be a little vigilant and never be greedy when copycats project goes up because you can be caught in a trap

FontSeli

hero member

Activity: 1232

Merit: 858

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.

These tokens are scams and it is not difficult to understand an experienced investor and a person who has been investing in various projects for a long time. Your advice concerns more newcomers who have now came the crypto market amid the huge growth of DeFi projects. Perhaps you should write something on this topic in the section for beginners.

Shallow

sr. member

Activity: 938

Merit: 255

SmartFi - EARN, LEND & TRADE

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.

As someone who hardly pays attention to fomo I do not care about some of these projects, however i believe you did the right thing by bringing it to the attention of everyone. People will not learn, people will not learn to be contented, people will not learn on how to carry out their research to make sure their investments in any project is legit. Scammers always takes advantage of every given opportunity the crypto space presents, hence the reason they see it fit to create those tokens such that the hype already generated by the legit cryptocurrency will spread to those new(fake) ones created.

pathapoddo

full member

Activity: 448

Merit: 100

CRYPTOCITIZEN $CCASH

Thanks for your notice before anyone falls on those scam projects. I would suggest everybody before you invest on any project, please do a briefer research on that project and know A to Z about them. It will help you to stay away from the scam projects. If you can't research on your own take the communities help. Post about that project here on the forum. Many good guys are available to help you and stop you from falling in a scam project.

Ryker1

sr. member

Activity: 1932

Merit: 442

Eloncoin.org - Mars, here we come!

Well, they are now in the hype, the price hike upward and it seems it will beat the dominance of bitcoin. ^{[ https://coinmarketcap.com/currencies/yearn-finance/ ]}.
This is normal to the project especially if the team is active to manipulate on it. That was very obvious the price was manipulated and they pumped this too much in the market. Upon searching, I found out that there are 3 the same name of YFI, perhaps this was you meant that there is too many name copycat by others. I hope investors will do always research before they will put their money. Thank you for the advice, but in my self, I won't take this as my investment.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

In times that when a project rises, the scammers will use that opportunity to get some victims and make money for themselves. Thank you for the reminder! YFI is rising and its price is very encouraging for investors to buy and that's the reason why there are plenty of new projects that are also attaching themselves to it. And also, it's not just for YFI but for other projects too. Always be careful in investing due to FOMO that the market is giving, it's always good to test the waters.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Scammers will always find a way to deceive a trusting investor. There is nothing easier than to create a new token, call it DeFi, and place it on Uniswap yourself. Now we need a bit of hype around this coin and we will see 1000% unsecured growth.

TheMystic

member

Activity: 171

Merit: 12

Alot already springing out as a clone or fork or in partner with yfi. Just like the poster had said, one have to watch out carefully.. But only yfi copycats, but so many copycats of defi projects, they are all out to scam gullible ones, watch carefully, do your own research on projects and its team, before you invest. Let's protect our fiat will all we can. Crypto is risky, so risk carefully.

lepbagong

full member

Activity: 2268

Merit: 121

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

indeed we cannot avoid this kind of thing in order to benefit ourselves by not understanding what happens to it. because with a fantastic value of course all feel interested and ultimately do not realize that they can be careful so that fraud does not occur.

hopefully what you inform can make other colleagues more able to protect themselves for increasingly sophisticated fraud like this. thank you for the constructive information and so that everyone can not be deceived.

Ashes4Beauty

jr. member

Activity: 48

Merit: 3

Many people just want to amass wealth easily without been very careful or watching the redflags. Thank you for the heads-up, we can only hope newbies especially do not fall prey of such scams.

key4co.in

hero member

Activity: 812

Merit: 503

I pity those who will end up getting trapped with some of these YFI copycats like you (OP) mentioned. I saw one YFIII and the likes, they just want to start a new trend of hype with these coins, seeing the success of the originator YFI. DEFI craze is real lol.

minairia3

sr. member

Activity: 1498

Merit: 326

Vave.com - Crypto Casino

Thanks for the warning this inevitable since yfi price is really amazing and we can see how the pump really make its price goes up. I know that the trend of this coin is amazing but we can see a lot of copycat like yfii, yfl, and yfv follows their path but of course dyor is the best advice trader should do.

Like yfii is already become a legit one and being traded now on major exchanges. But the next after that is not worth it anymore.

cryptolordd

newbie

Activity: 6

Merit: 4

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.

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