It is sad to see another scam pretending to be a DeFi project happens. It is always like this. Whenever a trend is so popular, we always see news about scammers taking advantage of the popularity of certain staff. I think this is also investors fault, since they invest on a project without fully researching their investment.
Many warnings have been posted about the possibility of DeFi exits scams across different platforms including bitcointalk but it seems people are simply too greedy to take advantage of the hype and profit. As it turns out, many of them got burned from projects like Yfdexf.Finance.
As
reported, Yfdexfs team managed to run away with $20 million. Their official website, medium, telegram and twitter accounts have all been taken down to not leave any traces.
What happened here is also another reminder to all aridrop and giveaway hunters out there to be careful in what you are sharing in exchange for some rewards. You might not realized it yet, but you are also helping these scammers. Yfdexfs team organized many giveaways to create hype and many of these hunters just joined without even thinking about what they are promoting.
You are certainly right. But you cannot know 100% which of the projects will be a scam until this project is implemented, raises money and deceives investors. Until this path is passed, it is difficult to understand whether it is a scam or not. The fact that people believe everything and this is the problem, but investors can also be understood, everyone wants to make money right now. These are the risks that you should always be aware of and not be greedy about. As for scammers, they have been and always will be.
Well, at least verify the people behind the project. At least whenever the project become rogue you know the people behind the project and can file a proper complaint. Even if you don't get your money back, at least this criminal when apprehended will spend their time in jail.