Topic: Dextrust:::Another Scam Waiting To Happen:::Or:::Not??? You Decide (Read 243 times)

Smells fishy and should be avoided in all costs. Dextrust can be used as a tool for scammers and maybe this project is another rebrand of another scam project by the same team. Better DYOR before joining bounty or investing.

good research fromOP that could be a warn for all of us. anon team must make us more carefully , they prefer to hide identity to save them when project run out and be scamm. since beginning i have doubt to this project and prefer to avoid this bounty or IEO.

The fact that Dextrust Telegram admin deleted your concern about the pantera scam  immediately is really a huge red flag.  And the Anon era of developers is way long gone since majority of projects reveal faces of their founders and developers.  It is a good thing that you realized that Dextrust is a possible scam project due to their suspicious activity.

That Cryptrust and Dextrust, the two names are alike and it’s quite possible that it’s going to be the same, lol, they are using the word trust to play people and make it sound and seem like it’s legit and should be trusted, and they don’t know they are easily giving themselves away, because both names are similar.

The reasons you have stated here is enough to say that they are scammers, if they are a legit team that is serious about what they are doing and won’t be scamming people, they wouldn’t be hiding their identity at all. Hiding their identity is a big red flag for me.

Is not the people behind the project is one thing to look out for before investing? How will the investor verify if they are trustworthy of your money and the project is legitimate? I have seen a lot of scam projects with the same tactics, and they do it to remain untraceable. Even if there's a clear indication that people should avoid risking their money into this project, they won't mind it because they get dazzled by the money. We should be aware that some projects may seem enticing, but that does not mean that they don't have a malicious plan.

Altcoin market are highly manipulated mate and the issue of the 3000ETH locked is already explained in this https://t.me/DextrustCommunity/4976 which Coin-Behind-You sent to me but I believe the 3000ETH which was permanently locked on uniswap of for LID policy which is for  Liquidity dividends protocol used by uniswap to certified the project presale and also to curb the project from rug pulling and exit scam.
According to my research about the project link is on here.

It is interesting to note that these guys already had a centralized trading platform which was not able to compete in the market and was closed, so there is a big question mark that how a team will deliver with a decentralized trafing platform because it is even more diffocult to attract userbase to a decentralized exchange than a centralized one. Anyhow i hope the team will be serious this time and have solid plans and strategy to make it a success this time around.

just as another member already pointed out to you, they held an initial offering which I think was held on uniswap where they raised 4000 eth, out of a total of 4000 eth raised, they claim 3000 eth is locked permanently on uniswap forever and they can never have access to it or touch for any reason, i enquired from them why is this and what for, they said it's a liquidity pool, that the locked 3000 eth will be used to make sure that liquidity never goes out of DETS token.

As good as that may sound, i absolutely don't believe it, check the token on coinmarketcap, it has been dropping in price everyday by day.

Since the price has fallen more than 50% from 5th of Sep , And it is just keep going down I think something is happening to it slowly , they just started a signature and twitter bounty https://bitcointalksearch.org/topic/defi-dextrust-signature-twitter-campaign-finished-5273254 to get more investors and more attention , Please keep in mind to report this bounty to a DT member if something happened with dextrust .

As I remember, they held an initial offering, this is proof https://t.me/DextrustCommunity/4976, I don't support op because hope for this project is still there, but because the price has moved away from initial presale price the accusation that op gave was not wrong

According to the information the OP gathered about the project in the subject I think tagging the project as a scam is not justify just because they didn't provide the team information and the last time I check there is a couple of crypto project in the market now especially the Defi project which mostly doesn't provide information about their project team but they didn't launch another initial offering.
If the project subject launches initial offering then it can be a scam awaiting a project.

Thanks for raising this issue, with the bull market there will be a lot of these scammers entering the space and their main targets are the newbies and the greedy guys chasing anything that promise huge profit. I have said this over and over again do not invest into any project with anonymous team this is very important

Although the team is anonymous the bounty hunters are allured to joining the campaign because the bounty manager is reputable which is why they also think that the project is no a scam. Its not that the bounty manager has a fault but we all know he is also just being hired. His reputation has nothing to do with the teams reputation.

Bounty manager only offers marketing services as he had done it before to some projects. So if the team had been deleting and kicking out users who questioned them, its very possible that the project is a scam.

Every one has his/her own view, their own opinion, their own choice and vision but other than bitcoin i do not trust anyother anonymous, hidden or pseudonymous people behind a project because this could be one factor to scam easily later becausr they are already masking/ hiding their true identity.

There is risk with each new project even after multiple analysis and research a new project can still fail. So after due diligence it is the investors own decision to invest or avoid. It is also true that due to big fomo and hype of defi many new projects are popping up out of greed so we need to be vigilant.

Images have been resized, and thanks for that heads up.
And for wether I have a valid evidence, I made it clear that am not calling the project scam, am only trying to share my experience having spent about a week with them, I leave it to the readers to decide whether it's a scam or not, ive done my part, if after reading, one decide to go investing in them, that really isn't a big deal, but if things eventually go south, that person should remember that someone sounded a warning bell.

Even on my PC, I don't get the full images, better use the tag

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If you have any valid evidence or even convincing one then better take this case to scam accusation section so other community member may help to identify the real reason of their existence.

Actually, not sure this is a scam, but I find it odd they delete Dets equal 81 + eth gradually, then they add Dets equivalent 84+ eth gradually to. as well then what confuses me the most when monitoring it on uniswap too many people swap Dets to eth Compared to those who swap eth to Dets and I think this is a bit of an indication that this project is a potential scam, good catch op, I hope those who follow Dextrust bounty can reconsider before they regret it when campaign ends.

The problem is that hunters are still promoting the project, thus the reason it will still scam some Eth from users who are also eager to get some profit thru the defi.
Bounty campaigns are not regulated nor the scams in the forum so if it does felt within yourself that you have the duty to somehow drive away the scammers in the forum then do so warn everyone.

Send warnings to the bounty thread and ANN thead of this project. Reply to thier twitter account and the articles posted on thier medium/blogs or their youtube videos for the investors to learn about it.

one thing that baffles me with all this scam thing and people loosing money is that sometimes, the signs are so obvious, but some people will not notice, some will notice but will refuse to pay attention to it,
Just imagine a project with such a dubious team, their website says it all, and yet people still go ahead and invest their hard earned ethereum and hoping for huge profit in return, this is so absurb, when they end up loosing their money, you see them crying and causing the scammers as if they didn't know they were scammers right from the start.

that's more than enough to take a conclusion if this one as a scam project. I believe the creator was also using the fake identity and that's why it was only using a surename only on its members.

If there was a member who has been asking a sense question to the team and when the team was deciding to kick that member and then can we call the team has a good attitude?
The scam project was always doing it and when someone asked a sense question to make sure if that was running by the real people and then scammer will always called that as FUD. lol

That very thing that They are Hiding their true
 identity is enough reason to call this as scam,WHy need to wait for the release of their token before showing their faces?and who knows if
 they're Names are true also?
there is no reason for hiding if you are a legit project because in this matter investors will trust you depends on your personality,
capacity and they will need to background check each of the team to make sure their money will be in safe hands or in scammers.

First, I have this feeling that the people behind [urlhttps://coinmarketcap.com/currencies/cryptrust/[/url] which to me, is a failed project, are the same ones behind Dextrust. (I accept to be wrong but...)

First of all, I was a member of the Dextrust community for some time, I was even wearing their signature but that was because I didn't research well on them before applying to join their campaign, so when I began seeing some red flags, I resigned, here's a resignation letter I submitted on their bounty thread before leaving



 




So some weeks or days ago, Dextrust announced on their telegram group and channel that they are having an AMA on another telegram group called Panteragroup or Icopantera (whatever). see screenshot below









I found a link to the group and joined, everything was fine, in a few days, telegram flagged the pantera group as scam, confirm from screenshots below
















When I saw the above, I took the screenshots, reached out to Dextrust telegram group and posted it with a text to inform the admins that the group they are to host their AMA has been labeled as a scam group, those screenshots didn't last up to 3 seconds, they were deleted almost immediately and I was also banned immediately as well, see below









That was when I started to realize that Dextrust it self might also be a scam waiting to happen, and why I said this is, take a look at this shot I took from their website as i scroll down to team members













When I was still a member in their telegram goup, I asked them why are they not showing their faces? their answer was... " we will show our faces one the project is fully developed" , in other words, they are saying "we want to easily run away untraceable with investor's 4000 eth if the project doesn't develop

I joined their telegram group with my second account with out them knowing and here are screenshot of other participants who asked why their faces are hidden and the answer they got








This guy below was banned without notice for saying his father told him never to buy a cat in a closed bag



 



 



Am not directly saying that Dextrust is a scam project, but with all I've said and posted above, I leave you all to decide for yourselves where you rather invest your time, data and money on.

I rest my case