Forks, swaps, borrow names of initial coins or tokens, restructure of masternode collaterals (from initial low to later higher) are popular scam strategies of scammers. You can see in images attached in my thread Define the (scam) DeFi there are hundreds of scam stake & Masternode coins (I listed 200 zero value coins only) and many of them borrow names: DogeCash, example.
I see DeFi projects are same as stake & masternode coins. The new scam DeFi projects are simply borrowing the DeFi hot word. Stake ~ Farm, similar too. Instead of use Ponzi, they used Lending to run their scam projects. Ponzi ~ Lending. ICO ~ IEO. They shuffle terms to scam more easily.
Topic: 💩DeFi scams [history]💩 - page 3. (Read 1650 times)
Erc20.Dog DOG Token
This is what a scam looks like
World first cryptocurrency created by dogs.
How to participate in the DOG Token Sale (March 20th)
https://medium.com/erc20dog/how-to-participate-in-the-dog-token-sale-march-20th-69db1f55e4bb
DOG token sale started
https://medium.com/erc20dog/dog-token-sale-started-f86724614efa
https://cointelegraph.com/news/defi-meme-coin-hotdog-dumps-99-9-in-hours-after-launch
This is what a scam looks like
World first cryptocurrency created by dogs.
How to participate in the DOG Token Sale (March 20th)
https://medium.com/erc20dog/how-to-participate-in-the-dog-token-sale-march-20th-69db1f55e4bb
DOG token sale started
https://medium.com/erc20dog/dog-token-sale-started-f86724614efa
https://cointelegraph.com/news/defi-meme-coin-hotdog-dumps-99-9-in-hours-after-launch
YFI hit the price rate that more than three fold of bitcoin. https://coinmarketcap.com/currencies/yearn-finance/
And YAM version 2 almost reached $26. https://coinmarketcap.com/currencies/yam-v2/
It is shameful to admit that I don't know why there are people on market accept to pay such unreasonable price for YFI and YAMv2.
And YAM version 2 almost reached $26. https://coinmarketcap.com/currencies/yam-v2/
It is shameful to admit that I don't know why there are people on market accept to pay such unreasonable price for YFI and YAMv2.
Even each of the projects from 1 post has its own well-known developers and they are trying to support the projects, and not as it was in 2017: the scammers sold tokens and disappeared.
If you are talking about the De-Fi projects that have been mushrooming, this is nowhere near true. The ICO enabled scam devs to launcha website and sell tokens from a contract. De-Fi projects let you "lock" wrapped tokens onto their website platform hoping for interest income from arbitrage opportunities.It is easy enough for anyone to use this as an opportunity to steal the locked funds. People aren't doing it till now because only a very niche group of investors were putting money in. Now with the hype, a much higher percentage of noobs will be ready to put in money like some of us did back in 2017 at ICO boom. Money will be lost if you don't watch out for copycat scammers.
Take for example this asshole. Opens up a Ann thread and a website with the name "Yearn" as part of the domain-name.
https://bitcointalksearch.org/topic/yearn-protocol-finance-yptf-defi-stake-5272361
Spaghetti (PASTA)
https://www.coingecko.com/en/coins/spaghetti
Meme project Spaghetti raised $ 204 million
https://twitter.com/DegenSpartan/status/1296036076289548289
https://twitter.com/rleshner/status/1295858408000651264
🤖 Leshner(C)
"If https://spaghetti.money has $500 million less than 36 hours after launch, the industry needs to self-regulate and stop launching these meme farming games."
Spaghetti Money is very similar to the Yam project
https://www.coingecko.com/en/coins/spaghetti
Meme project Spaghetti raised $ 204 million
https://twitter.com/DegenSpartan/status/1296036076289548289
https://twitter.com/rleshner/status/1295858408000651264
🤖 Leshner(C)
"If https://spaghetti.money has $500 million less than 36 hours after launch, the industry needs to self-regulate and stop launching these meme farming games."
Spaghetti Money is very similar to the Yam project
unfortunately DeFi has a difference with what happened in 2017, in 2017 it has a lot of demand because indeed many are curious about cryptocurrency whereas for now it's not like it used to be, even today many are disappointed with cryptocurrency because there are many theft cases that occur in cryptocurrency .
Too little time has passed since the start of the hype DeFi. If you compare with the hype ICO of 2017, you can see that the number of DeFi is still too small to compare them.Scammers have not yet adapted and do not fully use the hype around DeFi, but soon we will face this much more.
We are soon approaching the peak scam time of 2017 ICO period. Except this time its not scammers in telegrams but the Defi projects are gonna be swept away .
Not all, there are good eggs in this Defi hype but bad ones will definitely be swept away. 2017 is totally different from this defi though some similarly exists. I have only know of Yam Spaghetti shit coin that has made many regret investing on defi. Yam rebating never worked out even after launching version 2
https://cointelegraph.com/news/3-reasons-why-yearnfinance-yfi-price-just-hit-a-new-high-of-18k
"A hint of a new partnership, Aave listing, strong technicals"
I see that investors have steel eggs.
I do not pretend to be an expert, but the project is greatly overrated.
While searching for information, I came across another interesting token with a high price. But there are only 100
https://cointelegraph.com/news/the-robonomics-token-is-trading-for-95-000-each-on-uniswap
https://www.coingecko.com/en/coins/robonomics-web-services
"A hint of a new partnership, Aave listing, strong technicals"
I see that investors have steel eggs.
I do not pretend to be an expert, but the project is greatly overrated.
While searching for information, I came across another interesting token with a high price. But there are only 100
https://cointelegraph.com/news/the-robonomics-token-is-trading-for-95-000-each-on-uniswap
https://www.coingecko.com/en/coins/robonomics-web-services
We are soon approaching the peak scam time of 2017 ICO period. Except this time its not scammers in telegrams but the Defi projects are gonna be swept away .
Not all, there are good eggs in this Defi hype but bad ones will definitely be swept away. 2017 is totally different from this defi though some similarly exists. I have only know of Yam Spaghetti shit coin that has made many regret investing on defi. Yam rebating never worked out even after launching version 2
We are soon approaching the peak scam time of 2017 ICO period. Except this time its not scammers in telegrams but the Defi projects are gonna be swept away .
I am watching another DeFi - CURVE Finance token, whose price dropped from $ 100 to $ 3 after listing on Poloniex on August 14. Despite this decrease in value, I do not attribute this token to scam, although it is clear that many lost their money investing in it at an early stage. Now CRV is trading around $ 4, and I think that this token has the prospect of growing in price several times.
Why did he fall so low? The same is necessary for the customers to start pouring into the glass. Team leaked tokens? bro haha all these uni defi erc shit things are pure garbaaaaaaaaaaaaaaage. sure in many years 1 or 2 MAY have some role in the tech eth is trying to implement but otherwise it's all another hype cycle of bullshit. all pnd whale action for this crap. 99% of ppl don't know or care what they are.....they just wanna be greedy and make money. sadly most will get rekt.
not all of them garbage dude, i am agree so many people be greedy in this Defi project , they thinking if investing in Defi could get high return only in few days or weeks. but most of them didnt give anything to investors and only make investors rekt. many example creepy project in uniswap exchanges, most of them just following trend.It is actually sometimes very hard to sieve the good ones out of the bad in the crypto space. Just within this short period.that DeFi hype had just started, some projects have come out and discovered to be scam.
This is just a testing phase and many will Fail it.
To start with, the good ones among them will be transparent and it will be obvious.
Creating DeFi projects and no done due diligence and testing for their smart contract? This clearly shows a scam and the initial idea was to attract investors from social media hype. We should be careful about such projects.
YAM Finance team actually failed with regards of proper test running before launch, however you can't conclude it was a scam plot. Projects like Quantstamp are neglected, this project runs security audits for smart contracts and many startups fail to consult them which is not correct. If I were an investor in YAM, I will also lose some level of confidence in the team since they didn't do their home work properly before public launch. It's true that so many new scam DEFI projects are on the rise, we should be careful what we invest in.
A lot of defi scams, who knows, yfi might be one until they managed to sail through to keep there name ontactef. Cryptocurrency space have been a place of different ideas springing up to make profit. Ico, IEO, now defi. Even old projects are switching to defi. All I can advice is, be careful where you invest your USDT. Make sure to keep and eye and do a proper check before investing.
Creating DeFi projects and no done due diligence and testing for their smart contract? This clearly shows a scam and the initial idea was to attract investors from social media hype. We should be careful about such projects.
I don't know, why everyone need learning from Bitconect.
And now we are on Bitconect 2.0 with the word of DeFi, because they only offering a less supply, locked, stake token with some interest the difference between the lending they offering a small percentage stake while lending gives a huge percentage offers.
I believe we already have 50-100 project with the IDEA of DeFi, and 95% of these project soon not gonna survive just same as lending platform.
And now we are on Bitconect 2.0 with the word of DeFi, because they only offering a less supply, locked, stake token with some interest the difference between the lending they offering a small percentage stake while lending gives a huge percentage offers.
I believe we already have 50-100 project with the IDEA of DeFi, and 95% of these project soon not gonna survive just same as lending platform.
https://www.coingecko.com/en/coins/equus-mining-token
It's not confirmed yet but I think the team has exit scammed on their community the price just dropped from $.018 to $0.0002 so far the team is silent about the situation.
There are limited info on the coingecko.com for equus token (EQMT). Genesis date is not available and some more info need to be presented.It's not confirmed yet but I think the team has exit scammed on their community the price just dropped from $.018 to $0.0002 so far the team is silent about the situation.
Those scam projects that try to disguise investors as they are DeFi projects while in fact they are non-DeFi projects. Those projects remind me about the scam staking amd masternode coins in the past. In the days, there are a few new staking/ masternode coins were created every day. Their estimated ROIs look very very attractive but it won't last too long. Developers dump their premined coins and another thing comes later when stakers or masternode owners dump their rewards to get capital back or to get profit.
Many scam projects after a few months did not give investors enough money from staking or masternode rewards to pay VPS monthly fees.
https://www.coingecko.com/en/coins/equus-mining-token
It's not confirmed yet but I think the team has exit scammed on their community the price just dropped from $.018 to $0.0002 so far the team is silent about the situation.
It's not confirmed yet but I think the team has exit scammed on their community the price just dropped from $.018 to $0.0002 so far the team is silent about the situation.
bro haha all these uni defi erc shit things are pure garbaaaaaaaaaaaaaaage. sure in many years 1 or 2 MAY have some role in the tech eth is trying to implement but otherwise it's all another hype cycle of bullshit. all pnd whale action for this crap. 99% of ppl don't know or care what they are.....they just wanna be greedy and make money. sadly most will get rekt.
The fail of YAM really caused panicking to investors. The fall was extreme but how crypto is, some will benefit while some will be affected. When it heavily dumped, some users picked it and it gave them alot of profits because it mooned again but not to what it was back then. Let's always be careful because not all Defi worth investing.
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