DeFi100 scams investors for $32 million before mocking them for being "moonbois".
After last week's Pancakebunny flash loan exploit, there's yet more turmoil in the world of BSC defi.
DeFi100 is the latest project to scam investors, taking them for $32 million.
And boy, were they fucking pricks about it:
"We scammed you guys, and you can’t do shit about it."
Lovely, huh?
Will we see more BSC rug pulls?
Yes, it's highly likely that we will continue to see yet more BSC rug pull scams going forward.
Possibly by projects that you think it can't happen to.
Newsflash:
It can.
Now I'm not saying that we're at the top yet, but we're certainly in a period of market-wide consolidation.
And that adds to the risk.
Not every defi project is going to survive the next bear market and with devs having a skewed level of control (whether audited or not), some will take the profitable out by scamming before their coin goes to zero.
All we can do as investors is to understand and manage our risk.
How can we do that you ask?
BSC Defi you can trust
Well, when it comes to choosing a BSC based defi project, you need to ask yourself if you trust the platform and the team behind it.
While cold storing your crypto in BTC is the only way to be fully secure in this game, that also means you don't get the returns defi has on offer during this bull run.
While nothing placed on a defi platform will be 100% secure, you can still make an informed decision and do everything you can to make sure you don't get scammed.
One such consideration is to choose a defi project from a development team who are happy to be public.
Cub Finance is one such DeFi platform you can trust
Cub Finance is developed by the team behind the LeoFinance decentralised blogging app we know and trust.
The team has a 2 year track record of delivering value for the Hive community and there’s no reason to expect any different from the team's venture into DeFi.
Ask yourself, can you see the LeoFinance team running a DeFi100 scam?
I'm going to say no.
Best of probabilities to you.
Direct from the desk of Dane Williams. This blog is exclusive to leofinance.io
Why not leave a comment and share your thoughts on the DeFi100 scam in the comments section below? All comments that add something to the discussion will be upvoted.
This defi blog is exclusive to leofinance.io.
Posted Using LeoFinance Beta
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