On the last day 09, the CryptoWhale profile made this post on Twitter referring to another scam in the DeFi world: Yfdex.Finance.
On September 8, the Yfdex.Finance project announced the start of the sale of its YFDEX Tokens. For that, the investor just had to access the domain https://bounce.finance/join/swap/2257, connect his portfolio, and participate in the Token ICO with a hardcap offer of up to 1,400 Ethereums.
A Project's hardcap is defined by its developers, and establishes the maximum amount of money that this Project can raise in its ICO (Initial Coin Offering).
On September 8, at 4pm UTC, the date and time established for the start of the Yfdex.Finance Project ICO, each Ethereum was quoted on the exchange BINANCE at approximately US $ 340 dollars, which means that if the YFDEX Project captured all the proposed 1,400 ETHs hardcap, this would raise around US $ 476,000 dollars.
"We want to thank you immensely for supporting us along the way. We, the $ YFDEX team, believe that we will build a truly strong community in the field of DeFi
The pre-order will start in exactly 12 hours, on September 8 at 4pm UTC"
by YFDEX.finance
But as a scam project is a scam, the “guy” who created it will not worry too much about selling his Tokens by default, so Project Yfdex.Finance captured and disappeared with approximately $ 20 million dollars from its investors.
After the coup, all the Project's web pages were deleted, as well as all profiles on social networks, too.
The Scam had 2 pages on the Web, a Twitter profile with more than 8,200 followers and a Telegram account with more than 6 thousand subscribers.
All the work of the scam CEO Yfdex.Finance was in fact publicity.
For days, the various pages and fakes profiles poured advertisements with well reproduced images, disseminated a methodology copied from other DeFi Projects, and promised a lot of profit with their Liquidity Mining Project.
"Any unsold YFDEX tokens will be burned immediately
For each Ether (Ethereum), an investor will receive 12 YFDEX tokens"
by YFDEX.FINANCE
Thus, in less than 1 hour after its launch, Yfdex.Finance dumped its Tokens in the market and the Project disappeared taking with it a good capital from the (badly) said investors who live the DeFis Hype.
In the end, it was just another Scam DeFi!
