DeFi100 Scam: Do the team behind DeFi100 run away with a $32 million investor fund?

Defi100 coin
Defi100 coin

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Earlier today, a Twitter user posted a snapshot of DeFi100’s official website and claimed that the people behind the DeFi100 scammed investors. The website was showing a warning message “We scammed you guys and you cannot do shit about it.”

Reports claim that the people behind DeFi100 have scammed USD 32 million. Now sure how this figure was calculated.

After this news broke, people started wanting investors that they should take care of while investing in new cryptocurrencies and avoid investing in projects with anonymous teams.

In a few hours, the website was removed and now it just shows a beautiful 404 error page. Later the Twitter handle of defi100 confirmed that the website was hacked and hackers posted that warning.

The company also confirmed that the cryptocurrency ever had the highest market cap of less than $2 million. So, scamming for 32 million funds is false allegations. The company denied the existence of any exit scam as claimed earlier.

Even if the team behind the Defi100 project hasn’t run with people’s money, this incident will surely negatively impact the project.

Back in April, two Turkish cryptocurrency exchanges Thodex and Vedibitcoin were allegedly involved in an exit scam. This is the reason I advise people to do market research and never run after making quick money. The world is full of scammers who are looking for different opportunities to trick people and make quick money. Cryptocurrency is unregulated where there is no legal agency to regulate it. So, it is easy to scam people here.

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