Topic: DeFi project, the easiest scam gateway - page 2. (Read 234 times)
What OP is trying to say is scammers have good excuse to exit scam on DeFi projects since it's decentralized and blaming the code for my failure is a good opportunity for scammers or devs who never had any good intentions for their projects from the start, I'm wondering how decentralized will work in this space when 90% are taking advantage of decentralization in crypto space, hands folded for now
Whatever happens to any DeFi project the code is to be blame, this is why DeFi projects are highly risky than any other projects in crypto space, if failure comes it's the code, if hacks happens it's the code to be blamed, this is just the way it is, so tell me why won't devs rug pulled themselves? There will be no one to be blame anyways
A majority of these "DEFI" projects are just shitty age old HYIP scams just modernized to take advantage of not having to run the garbage on your own servers.
Tons of these contracts have "emergency withdrawal" to deployer/owner address backdoored into them allowing the owner to steal all funds whenever..
Ultimately if you don't audit the code you're sending your money to, then its a reference back to a fool and his money are easily parted or something.
if failure comes it's the code, if hacks happens it's the code to be blamed, this is just the way it is, so tell me why won't devs rug pulled themselves? There will be no one to be blame anyways
Basically, there's no perfect code dude but the problem is people lack of knowledge about how to analyze the possibility for the creator of smartcontract to put the rugpull or selfdestruct function on its smartcontract. That's why i was seeing the smartcontract before try to invest in a new project. This must be done by everyone to decrease the possibility for the scam project doing rug pull to the funds in the pool.
people should at least a small knowledge about the basic function of rugpull.
This is like the devs taking advantage of the majority.
if failure comes it's the code, if hacks happens it's the code to be blamed, this is just the way it is, so tell me why won't devs rug pulled themselves? There will be no one to be blame anyways
Basically, there's no perfect code dude but the problem is people lack of knowledge about how to analyze the possibility for the creator of smartcontract to put the rugpull or selfdestruct function on its smartcontract. That's why i was seeing the smartcontract before try to invest in a new project. This must be done by everyone to decrease the possibility for the scam project doing rug pull to the funds in the pool.
people should at least a small knowledge about the basic function of rugpull.
Whatever happens to any DeFi project the code is to be blame, this is why DeFi projects are highly risky than any other projects in crypto space, if failure comes it's the code, if hacks happens it's the code to be blamed, this is just the way it is, so tell me why won't devs rug pulled themselves? There will be no one to be blame anyways
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