Escalating DeFi scams tarnishing the crypto yield farming market niche
Cointelegraph
Published Oct 15, 2020 11:00AM ET
Updated Oct 15, 2020 01:00PM ET
For those active in the decentralized finance arena, hardly a day goes by without a report of one project or another “exit scamming” its investors. From rug-pulling to fake presales, DeFi experts and novice traders alike are bleeding valuable Ether (ETH) from these scams.
With DeFi creating a market segment where project initiation cost is near zero, rogue actors now have the perfect environment to continuously siphon funds from victims. Aided and abetted by a rabble of social media shills and the current climate of frenzied yield-chasing, these crypto con-artists are able to cart away huge sums of money that run into the hundreds of millions of dollars.
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Written By: Cointelegraph
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