Since the existence of DeFi all feels different because the project that runs in accordance with the wishes of all of us and is very different from the ICO and IEO projects but currently there are new problems in the DeFi project that always occur hacking every existing project whether this is all the result of the thin security applied by the project, until now some parties still suspect there are parties who want to destroy DeFi.
How to destroy DeFi? DeFi cannot be destroyed or eliminated because DeFi is the core of cryptocurrency, I don't mean the HYPE project of the last few months, but about the core of decentralization that cryptocurrency has had for a long time, because DeFi has actually been around since bitcoin was created, that's why DeFi can't be destroyed . 
Topic: ICO scams vs DeFi scams - page 2. (Read 858 times)
It cannot even be counted with the number of several ICO / Defi scam projects, even to distinguish between them is very difficult for an ordinary person who doesn't know how to invest properly, so cases like this often occur, and the mode is almost the same as ICO / Defi fraud, as long as the system does not repaired, the group of con artists will be free to continue making scams on behalf of ICO / DeFi, because they are very easy to trick their prey, let alone ordinary people, experienced people will certainly experience the same thing, because the Scam project is very clever at hiding its badness ...
Maybe this is because everyone can create an ERC20 token and describe the token as DeFi or do an ICO. DeFi has been on the hype for a while now and I think anything that's hype needs high alertness and needs more research. I prefer to invest in coins or tokens that are listed on large exchangers because the liquidity factor is maintained
There is no difference between scam ICO and scam DeFi projects, probably still the same old scammers at work here, very possible, the work of scammers is to find something new that has enough FOMO and hype and use that to their own advantages, I knew that DeFi will see lots of scam once it started becoming successful few months ago, if another new hype begins tomorrow expect scammers to invade it
No concept is bad, be it ICO or Defi. When a concept is successful, many scam projects see them, copy it and cheat investors. Defi concept is a good concept at present. If it can be used properly then something good will happen.
Why VS? There were ICO projects that delivered as promised and they are still very alive today, some exit scam but isn't that what's happening around DeFi projects too? Some did very well and many are scam, there is no need putting them head to head, scam is scam and the latest scammers favourite is DeFi because it's DeFi season, not ICOs anymore
Well, the difference between ICO world (and whatever followed afterwards) and Defi is the simple fact that most of the time DeFi projects do not have owners, they have developers and we decide if we want to allow them to make a change, whereas ICO world had owners, people like Justin Sun and so forth was created because they published a new coin and had a ton of it and they had the control over it.
This made defi a lot more hackable because it is just a code and nobody is there to stop it, if the code is not good enough it will be hacked, but made ico ones like tron more secure because if there was someone trying to hack it, owners will try to stop it. Yet this created a gap of centralized (heavily) coins like tron versus defi projects and you take the risk with the reward I suppose.
This made defi a lot more hackable because it is just a code and nobody is there to stop it, if the code is not good enough it will be hacked, but made ico ones like tron more secure because if there was someone trying to hack it, owners will try to stop it. Yet this created a gap of centralized (heavily) coins like tron versus defi projects and you take the risk with the reward I suppose.
Since the existence of DeFi all feels different because the project that runs in accordance with the wishes of all of us and is very different from the ICO and IEO projects but currently there are new problems in the DeFi project that always occur hacking every existing project whether this is all the result of the thin security applied by the project, until now some parties still suspect there are parties who want to destroy DeFi.
You are right, the DeFi project is better than an ICO, because the DeFi project will go ahead as planned, and many DeFi projects have emerged because they already have a real product, very different from an ICO that appears with a concept alone.Hacker attacks can be anticipated by developers, because the DeFi project has been attacked by hackers very often, and developers should learn from that incident.
As long as there are gaps and opportunities for fraudsters of any kind, there will definitely be a lot of fraud,
and there will definitely be new people, they are old bankers whose job is only to cheat and take advantage
of the weaknesses of the existing system. , we are left alone to be careful in every action or even in every infestation
That's the problem with decentralization sometimes because we don't know who is behind the project and we have no way to question them or even ask what they did with the investor funds. That said, investors have gotten more and more smart with time and are not as easy to fool as they might be a few years ago.and there will definitely be new people, they are old bankers whose job is only to cheat and take advantage
of the weaknesses of the existing system. , we are left alone to be careful in every action or even in every infestation
DeFI or ICO everything has it's own benefits and problems because there will be scammers in each market but also bright prospects in either field too. I personally look at the team behind the project like Polkadot had Gavin Wood behind the project which gave me confidence and they are looking good now, some even call them ETH killer.
What makes you think that those who are behind ICO scam projects are different from this DeFi scam projects? I believe that those behind ICO scam are behind IEO scam too, Scammers are greedy people too once they make big money in a ill gotten way they will never leave, they will always come back to take advantage of those who are new to crypto and haven't had any experience about scam projects
Most of the project coming nowadays on DeFi are scams and making money from investors; I have seen a project that was made from pre-sale $300k+ and after launched at Uniswap price goes down and all the investor's funds lost, Scammer always trying to collect funds from investors after 2018 IEO was a good idea to protect the investors but now DeFi projects again collecting funds and scamming with investors.
Various ways to deceive every investor you are despite the new rules. If they have a chance that means there has to be a stricter way to deal with it.
Various ways to deceive every investor you are despite the new rules. If they have a chance that means there has to be a stricter way to deal with it.
And one way to avoid being deceived is not to easily believe other people's words and new rules, because every rule that is made will always have one-sided advantage, so don't be overly confident if we don't want to be deceived by other people. 
platform hacking can occur both by insiders and so-called Hackers and will certainly never be revealed to the public. So there is a possibility between intentionally or not but they actually did it. Regarding DEFI I think you need to be careful, I'm afraid you get caught up in the hype defi and don't have time to sell while the coins are pumping.
Most of the project coming nowadays on DeFi are scams and making money from investors; I have seen a project that was made from pre-sale $300k+ and after launched at Uniswap price goes down and all the investor's funds lost, Scammer always trying to collect funds from investors after 2018 IEO was a good idea to protect the investors but now DeFi projects again collecting funds and scamming with investors.
Well, many projects turns out scam. Especially in social media they always make a ways to attract investors that their project is one of the best. I have observed this kind of scam, at first collecting funds from investors, listed the project in uniswap then suddenly deleted their liquidity pool. Anyway, either Ico, or Defi projects many are scam. So, we firmly to be keen on observing which project is best these days since a lot of scams. 
Most of the project coming nowadays on DeFi are scams and making money from investors; I have seen a project that was made from pre-sale $300k+ and after launched at Uniswap price goes down and all the investor's funds lost, Scammer always trying to collect funds from investors after 2018 IEO was a good idea to protect the investors but now DeFi projects again collecting funds and scamming with investors.
After scammers ruin ICO in 2018 and onecoin and bitconnet became the biggest ICO fraud cases I thought things will atleast adjust for the better, things looked more promising when IEO took over and became more popular thanks to binance and other top exchanges performance but 2020 is very different, DeFi became a thing and once again scammers have the freedom to operate, something very identical to ICO freedom. All in the name of Decentralized and DEX, Uniswap for example, scammers are now roaming free...
1. They find uniswap as better haven to sell clone tokens
2. Even hacks are happening around DeFi projects almost every month now.
why is DeFi platforms more easier to hack? Or are developers the real culprits hacking their platforms themselves? DeFi failure will forever be a stain in crypto history
Why do we have many DeFi projects in a single year that DeFi starts becoming popular? Aren't you curious about that? All new projects want to be DeFi today, I feel like they are rushed projects that's why they are easily hacked, this is my own believe, 1. They find uniswap as better haven to sell clone tokens
2. Even hacks are happening around DeFi projects almost every month now.
why is DeFi platforms more easier to hack? Or are developers the real culprits hacking their platforms themselves? DeFi failure will forever be a stain in crypto history
Why aren't old DeFi projects hacked? This is why I trust old DeFi projects the most because they aren't rushed, they are around since 2018 before DeFi hype starts this year
There are ICO projects that turned into scams but not all. ICO's with a great team, good vision, and followed their road map succeeded indeed. The same thing goes with DEFI projects. It's just that DEFI project needs to pay high gas fees in order to make transactions but we can't claim that all ICO and DEFI are all scams..
It cannot even be counted with the number of several ICO / Defi scam projects, even to distinguish between them is very difficult for an ordinary person who doesn't know how to invest properly, so cases like this often occur, and the mode is almost the same as ICO / Defi fraud, as long as the system does not repaired, the group of con artists will be free to continue making scams on behalf of ICO / DeFi, because they are very easy to trick their prey, let alone ordinary people, experienced people will certainly experience the same thing, because the Scam project is very clever at hiding its badness ...
Maybe this is because everyone can create an ERC20 token and describe the token as DeFi or do an ICO. DeFi has been on the hype for a while now and I think anything that's hype needs high alertness and needs more research. I prefer to invest in coins or tokens that are listed on large exchangers because the liquidity factor is maintained
It seems like it will always happen if every new arrival everyone will be tempted after seeing the success of one of the projects but do not see the whole thing that will definitely happen because everywhere is acting to commit fraud in any new project.
ICO was successful after many people were greedy, so many people did not believe it anymore even though it was not the system that was wrong but the people, as well as defi. which had made a scene because of its value that exceeded bitcoin and triggered people to undertake fraudulent projects.
all back to us to be more careful and not quick to believe. because there are still many people who want to commit fraud.
ICO was successful after many people were greedy, so many people did not believe it anymore even though it was not the system that was wrong but the people, as well as defi. which had made a scene because of its value that exceeded bitcoin and triggered people to undertake fraudulent projects.
all back to us to be more careful and not quick to believe. because there are still many people who want to commit fraud.
It cannot even be counted with the number of several ICO / Defi scam projects, even to distinguish between them is very difficult for an ordinary person who doesn't know how to invest properly, so cases like this often occur, and the mode is almost the same as ICO / Defi fraud, as long as the system does not repaired, the group of con artists will be free to continue making scams on behalf of ICO / DeFi, because they are very easy to trick their prey, let alone ordinary people, experienced people will certainly experience the same thing, because the Scam project is very clever at hiding its badness ...
why is DeFi platforms more easier to hack? Or are developers the real culprits hacking their platforms themselves? DeFi failure will forever be a stain in crypto history
ICO, IEO, DEFI,... have brought a lot of great things in this market, but everything has a good and a bad side so the problem is not the mode of participation, but the participant. I see scam projects and get money from new entrants in this market, so if you have the knowledge there is no reason to be fooled by new projects in the trending.Jump to: