DeFi has witnessed spectacular growth off late. While it does bring in limitless opportunities for the participants in the market, it also tags financial perils along with it. This time investors fell victim to DeFi, a decentralized finance protocol built on the Binance Smart Chain. Shortly thereafter, the website showed an error message. Some speculated that several projects are bound to show their true colors as the bull season fades and hence it there could be a huge increase in exit scams over these next few months. One crypto analyst urged market players not to invest in projects that are very new, backed by anonymous teams, made as memes, and lack real utility.
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- DeFi100: Hack or Rug Pull?
- Exit scammers run off with $660 million in ICO earnings
- DEFI100 Claims Website Hack Was Behind Exit Scam Message
- Have people behind DeFi100 cryptocurrency project run away with Rs 233 crore of investor funds?
- “We scammed you and you can’t do s**t about it” – Was DeFi100 hacked or is it a rug pull?
- DeFi100 Coin Scam: DeFi100 Creators Rug Pull Investors, Disappear With $32 Million
- DEFI 100 Announcements
- DeFi100-Rebase Project Insight: A Synthetic DeFi Index Utilizing Rebase Mechanics
- $32 Million Stolen As Crypto Project DeFi100 Pulls The Rug
DeFi100: Hack or Rug Pull?
This Prophecy DeFi profile is part of a paid investor education campaign. Decentralized finance, or DeFi, is an emerging multi-billion dollar industry that is expected to revolutionize the financial industry. DeFi encompasses various financial services such as earning interest, borrowing, lending, purchasing insurance, trading derivatives, trading assets and more on public blockchains.
DeFI is similar to crypto as it is a global, peer-to-peer and open to all system. Prophecy DeFi CSE:PDFI is diving into the FinTech market by bringing together technology start-ups in the blockchain and DeFi sectors to fund innovation, elevate industry research and create new business opportunities in a coherent ecosystem.
Layer2 Blockchain is primarily involved in liquidity mining through forming partnerships with and providing liquidity to newly-formed and emerging automated market making AMM DeFi pools to earn protocol tokens and absolute returns.
Layer2 Blockchain also engages in cross-chain lending and partakes in network staking and validation. Layer2 Blockchain leverages first-mover advantage as one of the first publicly-listed companies focused on bridging the new Layer Two Decentralized Finance industry with traditional capital markets. Layer2 Blockchain is leading the way in automated market making where cryptocurrencies can be traded all over the globe and has already partnered with exchanges and deployed capital.
As a result, Layer2 Blockchain plays a critical role in creating liquidity within emerging DeFi protocols.
In June , the company announced that it became a member of the Blockchain Research Institute. The Blockchain Research Institute has a member community that includes more than 90 world-leading enterprises, governments, associations and technology platforms.
The partnership grants Prophecy DeFi access to a research library consisting of more than projects as well as entrance into the blockchain community. Prophecy DeFi has a track record of strong revenue generation. Layer2 Blockchain generated an annualized rate of return of Prophecy DeFi strongly believes that its Layer2 Blockchain subsidiary has strong potential and scalability as decentralized finance revolutionizes the finance industry and public markets.
The company is led by a highly experienced management team with a history of success in cryptocurrency and shareholder value creation. Layer2 Blockchain Inc. Layer2 Blockchain is a multi-platform experience that accelerates the development of the Decentralized Finance industry on scalable blockchains by providing early-stage liquidity to the most promising DeFi projects.
Layer2 Blockchain also engages in cross-chain lending by deploying capital across different blockchain lending pools to capture systematic differences in lending rates. Layer2 Blockchain is backed by a team consisting of leading experts in the industry who have been in the DeFi industry since its inception.
Before this role, he served as vice chairman and head of investment banking for Mackie Research Capital Corporation. He has over 35 years of experience in both public and private companies in Canada and throughout the globe.
Nimmo was formerly a partner with Arthur Andersen and Deloitte. He has provided financial leadership to some of Canada's most successful organizations including Magna International. Cameron Day is the vice president of Prophecy DeFi. Cameron was raised in Toronto. Day is a CFA level 2 candidate. In addition, Tapscott is an entrepreneur, author and seasoned capital markets professional.
Tapscott is focused on the impact of Bitcoin, blockchain and other digital assets on business and financial markets. Tapscott is the co-author of the critically-acclaimed non-fiction best-seller, Blockchain Revolution, which has been translated into more than 15 languages and has sold more than , copies worldwide. He is also the editor and co-author of Financial Services Revolution.
Tapscott is sought after worldwide for his expertise by business and government audiences. He has delivered over lectures and executive briefings for global corporations and financial services firms. In , Tapscott co-founded the Blockchain Research Institute BRI which is a global think-tank that investigates blockchain strategies, opportunities and use-cases.
Tapscott is also a CFA Charterholder. Sandeep Nailwal is an Indian entrepreneur, software developer and co-founder of Polygon. Polygon was founded in to solve the problem of high fees and slow transaction speeds on Ethereum which is the world's second-largest cryptocurrency. Polygon is a Layer Two blockchain on Ethereum that allows users to build applications on Polygon at a far lower cost than Ethereum. Galia Benartzi is the co-founder of Bancor which is the world's first open-source protocol that ensures on-chain liquidity between any blockchain-based asset.
The protocol impacts organizations and people across the globe, from blockchain teams to real-world communities issuing local currencies. Benartzi was recognized by Forbes and Glamour Magazine as a leading woman in crypto. Benartzi previously co-founded Mytopia which is the first social gaming company for smartphones that was acquired by in She also co-founded Particle Code which is a cross-platform development technology for mobile applications that was acquired by Appcelerator in Benartzi was also the organizer of Bretton Woods 75 which is a commemoration event evaluating the historic monetary accords.
Zhong leads a world-class team that builds applications to improve the usability, accessibility and safety of blockchain for developers and end-users. Stuart Hensman has over 35 years of experience in the financial services industry. Hensman brings a wealth of knowledge from diversified industries. He has held numerous positions throughout his career, including chairman and chief executive officer at Scotia Capital Inc.
Morris was also a technology sector management consultant in London. Morris has acted as an expert adviser on blockchain technology for multinational enterprises. Morris was an Ethereum ICO investor in Tim Diamond brings over 30 years of entrepreneurial and managerial experience across asset management, real estate, merchant banking and venture investing.
Diamond has founded, built and successfully exited several companies. Diamonds has served on the boards of numerous publicly listed investment funds during his career. Most recently, Diamond was on the board of Trichome Financial Corp.
This profile provides information which was sourced by the Investing News Network INN and approved by Prophecy DeFi in order to help investors learn more about the company. The company's campaign fees pay for INN to create and update this profile. INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security.
INN does not endorse or recommend the business, products, services or securities of any company profiled. The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Prophecy DeFi and seek advice from a qualified investment advisor.
Reports for new investors. Overview Decentralized finance, or DeFi, is an emerging multi-billion dollar industry that is expected to revolutionize the financial industry. Management Team. John A. Galia Benartzi - Advisor Galia Benartzi is the co-founder of Bancor which is the world's first open-source protocol that ensures on-chain liquidity between any blockchain-based asset.
Stuart Hensman - Director Stuart Hensman has over 35 years of experience in the financial services industry. Tim Diamond - Director Tim Diamond brings over 30 years of entrepreneurial and managerial experience across asset management, real estate, merchant banking and venture investing.
Prophecy DeFi. Include me in the Accredited Investor email list.
Exit scammers run off with $660 million in ICO earnings
However, the project has now issued a denial of the claims, although some doubt apparently remains. The reports of people behind the project running away with the money started circulating after a rather distasteful message appeared on their website on Sunday. Since then, DeFihas clarified that their website was hacked and the hackers had put the message, which has been taken down now. At the time of writing, the website was still down. Whale CryptoWhale May 22, On Sunday, the crypto project, on its official Twitter handle said they had not exited as was suspected. At the beginning of the project, total supply was 2.
DEFI100 Claims Website Hack Was Behind Exit Scam Message
Harder to use for beginners but has cheaper fees. You can store coins on exchanges after purchase but we recommend using a dedicated wallet for security and long term storage. Hardware wallets offer the most security but cost money. They are the best choice for those storing a lot of value or planning to hold long term. BSC 0x9d8a Where to buy Where to store. Try visiting the project's website for more details. Visit Website.
Have people behind DeFi100 cryptocurrency project run away with Rs 233 crore of investor funds?
DeFi is an elastic supply synthetic index token based on the total market cap of the DeFi sector. The token is pegged at a ratio of Billion, and it derives its data using decentralized oracles from DIA, maintaining the accuracy of feeds and accurate rebases. Though on the tweet in February, they said that Certik. Security is an ongoing process. You can never let your guards down!
“We scammed you and you can’t do s**t about it” – Was DeFi100 hacked or is it a rug pull?
DeFi coin has done a full fledged exit scam and this means, they have run away with 32 million dollars worth of investors funds. As we fade into bear market, we will many similar project exit scamming on its users. So, expect a huge increase in exit scams over these next few months. Cryptocoindaddy suggest users to never invest in projects that are very new, with anonymous teams, made as memes, and have a lack of real utility. Or if you really want to invest in memes like Dogecoin , Doge Token, Shiba token and so on, make sure to ride the wave and get out. Do not become a bag holder as meme coins have small cycles.
DeFi100 Coin Scam: DeFi100 Creators Rug Pull Investors, Disappear With $32 Million
On the hour price chart, Ethereum Classic seems stuck between 2 significant averages. Deez Nuts. Simple as. Best Offer. Term Box: Best In lieu of federally mandated toilets for guys with giant nuts we should all check out the big brain on Vlad.
DEFI 100 Announcements
Then you need a wallet with a dapp browser to be able to trade tokens in exchanges like Pancake Swap, Venus, Uniswap, etc. Wallets endorsed are Trust Wallet for mobile and Metamask for desktop. Once you have the tokens and the wallet, you can venture safely into the DeFi ecosystem. Feeling lost?
DeFi100-Rebase Project Insight: A Synthetic DeFi Index Utilizing Rebase MechanicsRELATED VIDEO: DeFi100 Scam exposed in detail (Warning DeFi100 will scam again)
However, the project has now issued a denial of the claims, although some doubt apparently remains. The reports of people behind the project running away with the money started circulating after a rather distasteful message appeared on their website on Sunday. Since then, DeFihas clarified that their website was hacked and the hackers had put the message, which has been taken down now. However, it's much lesser-known than the other popular digital assets. At the time of writing, the website was still down. On Sunday, the crypto project, on its official Twitter handle said they had not exited as was suspected.
$32 Million Stolen As Crypto Project DeFi100 Pulls The Rug
Since then, the website and inflammatory message have been taken down. DeFi says the website was hacked. We reiterate it again that we have not made any exit. But there is no exit scam and we are still working on finding a way to bring the project back on its feet. The Twitter user who originally posted about the scam also warned their followers that they expect more of such instances to happen:. Stay safe everyone! This comes after another scam targeting cryptocurrency investors.
Apparently, the DeFi Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news. It must be noted that those responsible for the project seem to be taunting users, since in addition to stealing users' funds, they have posted a message on the project's main page assuring users that they have been scammed and that there is nothing they can do about it.