The world of DeFi is flooded with suspicious projects and the number of scams continues to increase. One of them is a new liquidity mining pool DeFi project, Yfdexf.Finance. It exited the market after 2 days of work only. At this, the investors lost their 20 million USD locked in its protocol.
On September 8, Yfdexf announced a presale of the token of the same name, as evidenced by a screenshot from the currently deleted Telegram group. Yfdex has positioned itself as “a strong player in the industry breaking all barriers.” The pre–sale was supposed to last four hours, and all unsold tokens were to be destroyed. For each ETH invested, investors were offered 12 Yfdexf.
Crypto investor and analyst Cryptowhale, who drew attention to the problems of Yfdexf.Finance, said: “99.99% of DeFi tokens are a scam that awaits the fate of Yfdexf. Please be very careful if you enter large amounts. ”
The project was actively advertised in social media but little has remained, so it’s hard to determine the details now as the traces of a scam was deleted.
The popularity of the industry always attracts criminals who try to take advantage of common craze and earn on it.