Tron legitimize a Defi project that pulled an exit scam, community says.

[BitcryptoHan 2557]

We need to be careful of Defi scam. There are many that can be seemed legit but scam. We should also know that some Defi project can fail. We need to look into a project very well before investing. Check the link below to see the recent exit scam. 

 

Tron’s primary DeFi project whitelisted what looks like a scam.

https://cointelegraph.com/news/tron-legitimized-a-project-before-it-pulled-an-exit-scam-community-says

 

Edited September 17, 2020 by BitcryptoHan

[Raqeebzy 6456]

1 hour ago, BitcryptoHan said:

We need to be careful of Defi scam. There are many that can be seemed legit but scam. We should also know that some Defi project can fail. We need to look into a project very well before investing. Check the link below to see the recent exit scam. 

 

Tron’s primary DeFi project whitelisted what looks like a scam.

https://cointelegraph.com/news/tron-legitimized-a-project-before-it-pulled-an-exit-scam-community-says

 

I can't remember where I said this but I suspect a lot of this DeFi project who would end up exiting as scams are taking new directions to Tron blockchain network. Here we are. 

You have said it all. If we must do DeFi, then we have to do in-depth research on which is the best and safest. There are more scams than legit ones out there.

[kyoukage01 3181]

Scams are only as successful as the number of 'sheep' who are easily getting swindled for not carefully scrutinizing the project, or more experienced ones who got their greed get the better of them. Now that the crypto community and DappRadar has already denounced Tron Supernode as a 'high risk' project (mentioned in the linked article), if this project gets involved in another exit scam and many more people lose their crypto especially the ones who have been scammed before, then the fault sadly now lies in those users. "Get fooled twice, shame on them."

 

[Whited35 15285]

Just a shame. Looking like there is already an announcement regarding whitelisting of the project through a blog post from JUST foundation. I have been suspecting TRON blockchain based DeFi system for a long time due to so many reasons. If you carefully look at JustSwap, it is just a clone platform of Uniswap. Everyone can list tokens and provide liquidity and there is no verification so that scammers can easily make scam exit after collecting a huge benefits. 

[Yomose 3704]

3 hours ago, Whited35 said:

Just a shame. Looking like there is already an announcement regarding whitelisting of the project through a blog post from JUST foundation. I have been suspecting TRON blockchain based DeFi system for a long time due to so many reasons. If you carefully look at JustSwap, it is just a clone platform of Uniswap. Everyone can list tokens and provide liquidity and there is no verification so that scammers can easily make scam exit after collecting a huge benefits. 

I have read the whole article, you are right, it was white listed. I also checked the link @BitcryptoHan pasted above, the white list was there and the coin was among. We need to be very careful of defi projects. Especially, the low end users. 

[kryptonick 2659]

I read this somewhere but not going to use Tron for now. Nobody is at the moment and Justin may not manage to make this work as whales stay on Ethereum chain with 1,2 Billion USD of Bitcoins wrapped in Ethereum.

https://cryptobriefing.com/165-million-bitcoin-moved-ethereum-uniswaps-uni-token-launch/

 

[SuperCrypto 7193]

On 9/17/2020 at 1:50 PM, BitcryptoHan said:

We need to be careful of Defi scam. There are many that can be seemed legit but scam. We should also know that some Defi project can fail. We need to look into a project very well before investing. Check the link below to see the recent exit scam. 

 

Tron’s primary DeFi project whitelisted what looks like a scam.

https://cointelegraph.com/news/tron-legitimized-a-project-before-it-pulled-an-exit-scam-community-says

 

This referred scam has received little media coverage. I really don't know how this will affect Tron Foundation due to its acceptance and participation in adding the project. However, TRON removed the project from its approved list, and provided the reason that the liquidity was insufficient.

[BitcryptoHan 2557]

18 hours ago, SuperCrypto said:

This referred scam has received little media coverage. I really don't know how this will affect Tron Foundation due to its acceptance and participation in adding the project. However, TRON removed the project from its approved list, and provided the reason that the liquidity was insufficient.

Even, it is now clear that the project is a scam, there is $2 million dollars locked in the project while investors are unable to withdraw their funds. It was an obvious exit scam. What I do not just know now is the fact that are the funds going to be recovered or the investors have been successfully scammed. 

[rekter 8129]

On 9/17/2020 at 1:50 PM, BitcryptoHan said:

 

Tron’s primary DeFi project whitelisted what looks like a scam.

https://cointelegraph.com/news/tron-legitimized-a-project-before-it-pulled-an-exit-scam-community-says

 

I guess this means that people shouldn't trust Just Foundation in the future as their word doesn't seem to weight very much if something is a scam or not. Too bad, newbs can't really evaluate projects themselves.

Edited September 21, 2020 by rekter

[BitcryptoHan 2557]

16 hours ago, rekter said:

I guess this means that people shouldn't trust Just Foundation in the future as their word doesn't seem to weight very much if something is a scam or not. Too bad, newbs can't really evaluate projects themselves.

@rekter In my opinion, I will say yes. Just foundation list the project in the whitening list which makes it even difficult for people to predict or determine the project to be scam. There can be upcoming scam project that will have an exit scam just like this. 

[NORBEAR 57]

Thank you for the information, now I will know that this defi cannot be trusted. Every user can save money by simply uploading a suspicious site here. This will save us a lot of money. Thanks again!

[LeonardoG92 39]

Today many ghost projects are being pronounced as legitimate in the DeFi area, and this generates some distrust and discontent among users and investors.

 

I think that this issue is of vital importance, because due to these scams that are being presented, many affected people and companies are leaving, since they manage to invest capital in a project that does not return any percentage.

 

A couple of days ago I witnessed a scam project, which made pre-sales of the currency, after having raised all the money to be listed on Uniswap, they fled, closed their social networks, groups and others.

 

It is necessary to have basic knowledge on the subject of cryptocurrencies and projects, to differentiate possible scams.

[jhonsu777 63]

Many want to have the success of uniswap but they are not going to achieve it since that is built with trust, the developer team must take into account and everything that is behind an application, more and more clones of this project come out and all with different purposes but achieving liquidity is a very big challenge for these platforms that are starting in this ecosystem, this is a euphoria maybe it happens over time or it focuses more on the cefi that have a little more control and come out with a face visible to public opinion.

[Liuxter 52]

Unfortunately they are taking advantage of the popularity of these types of cryptocurrencies to carry out many airdrops, presales and other types of scams, and many people who are not well informed about this world end up losing their money, it is important that they investigate these projects before investing money in these

[Yjfebres 11]

Anyone can create a defi token and place it on a Dex exchange and have under their contract conditions a possible scam. That is why a prior investigation should be done before investing. Review the address of the token contract. if it is a token of the tron network, check the contract in tronscan

[lclaudioh 36]

Attracted by the boom of platforms that have blocked millions of dollars in funds, hackers have also seen in the DeFi an opportunity to make huge profits, taking advantage of certain vulnerabilities.

Most protocols ensure that they are properly audited, but the different incidents that have occurred have shown significant failures, both in contracts and security in token handling.

be carefull with any defi.

[DeHydra 26]

On 17.09.2020 at 13:50, BitcryptoHan said:

We need to be careful of Defi scam. There are many that can be seemed legit but scam. We should also know that some Defi project can fail. We need to look into a project very well before investing. Check the link below to see the recent exit scam. 

 

Tron’s primary DeFi project whitelisted what looks like a scam.

https://cointelegraph.com/news/tron-legitimized-a-project-before-it-pulled-an-exit-scam-community-says

 

You really right. A lot of DeFi is scams. I've been involved in a couple of these scam projects, but I put a small Bank in each of them. But now I`m careful when choosing a project for investment. Thx for link, it`s should help beginners to avoid a scam projects.

 

[Datincc 57]

On 9/17/2020 at 7:50 AM, BitcryptoHan said:

We need to be careful of Defi scam. There are many that can be seemed legit but scam. We should also know that some Defi project can fail. We need to look into a project very well before investing. Check the link below to see the recent exit scam. 

 

Tron’s primary DeFi project whitelisted what looks like a scam.

https://cointelegraph.com/news/tron-legitimized-a-project-before-it-pulled-an-exit-scam-community-says

 

As with ICOs, there are many people who take advantage of the BOOM to make scams, you have to be careful and analyze everything before putting money in something

[gaisini2 34]

On 17.09.2020 at 15:50, BitcryptoHan said:

We need to be careful of Defi scam. There are many that can be seemed legit but scam. We should also know that some Defi project can fail. We need to look into a project very well before investing. Check the link below to see the recent exit scam. 

 

Tron’s primary DeFi project whitelisted what looks like a scam.

https://cointelegraph.com/news/tron-legitimized-a-project-before-it-pulled-an-exit-scam-community-says

 

I fully agree with your opinion, and I also believe that it is very important to remain vigilant when investing your funds.

[Raichu1987 115]

There is no doubt that the DeFi projects have caused a stir by raising millions of dollars, and this would undoubtedly attract many scammers who just wait for the opportunity to steal money, what I have seen is that now Tron has also grown and now scams They are heading there, Tron has it difficult because if not for scams this will affect its reputation, every day new smart contracts appear offering great profits, we must be careful where we put our cryptocurrencies, let's learn to carefully review everything new, and speak out against scams so people don't continue to be scammed by unscrupulous people.

[TengoDinero 132]

Uff what bad news especially for the investors of the project, to stay tuned so as not to fall into these projects that only want our cryptocurrencies, thanks for sharing the info

[pilat44 16]

you have to be careful while investing. there are many scam projects.

[JesusIV 11]

In my opinion I never found a page that paid for tron in which I worked were scam and the truth was I looked for other sites and resorted to telegram but it happened to me as well as with the pages.

[roman20025 42]

Defi scam projects are everywhere and i dont surprised by this news

Every crypto holder must turn on his brain and think about risks

[Gherkj34k 55]

Many scammers use the high popularity of DeFi in order to cash in. But it’s very strange that the machinists were allowed to do this again. They will most likely cheat again