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.
I have been following that news closely, I was not affected by it however it is just another example of what happens in this market when people are unable to use their head and are only thinking about making profits, they invested in a project that looked to be completely useless and a complete scam but people on their rush to get rich quickly forgot about making their own due diligence and now are suffering the consequences of their actions, and if this continues then I do not see how the excitement over DeFi projects can continue and they will suffer a similar fate as what happened to icos a few years ago.