Cryptocurrency project DeFi100 (CRYPTO: D100) has informed its investors that it defrauded them of their funds.

What Happened: According to a Saturday tweet by a cryptocurrency analyst, DeFi100 announced that it scammed its users in the following unkind and inelegant message: “We scammed you guys, and you can’t do s**t about it.”

According to the analyst, the scammers behind the project made away with $32 million in investor funds. The Twitter user also warned his followers that he expects more of such instances to happen:

"As the bull market fades, many projects will too! Expect a huge increase in exit scams over these next few months. Never invest in projects that are very new, with anonymous teams, made as memes, and have a lack of real utility. Stay safe everyone!"

The DeFi100 site (defi100.org) is now down.

Wild West Market: The news follows April reports of two Turkish cryptocurrency exchanges allegedly performing an exit scam. The first one, Thodex, saw local authorities detain 62 people under accusations of defrauding its customers of $2 billion worth of cryptocurrency.

The second one, Vedibitcoin, saw its bank accounts be frozen after announcing that it would cease all of its activities due to financial strains.

https://www.benzinga.com/markets/cryptocurrency/21/05/21247332/32-million-stolen-as-crypto-project-defi100-pulls-the-rug

God

What's the difference between DEVIL and DEFI?

It even came with version 100.


If you bought MMM and you STILL buy DEFI again, my brother how to kill yourself should be the next urgent thing on your agenda now !

Nice one,my boss once told me that any investment that promise ROI that is higher than what the bank give,just run away from it and stay happy.

mmm reloaded, crypto trading is gambling, u buy 100k crypto and expect it to turn to 1m overnight, sorry be ur name,the painful part is, the money is untraceable,instead of make una do better business, una dey look for shortcut, 13 billion just poof like that
binary option is another gambling in disguise, run for ya life

RIP!

Aiye ooooooo!!!

Cryptocurrency= Ponzi Scheme + Gambling

This crypto really cripple people sha

i told fools this crypto thing is a scam.

Lol!
Just like what that useless ROCKETMOON did to my guys... I kuku warned them say na rug pull and pump and dump useless token

I always tell people:

1. DON'T BUY COINS THAT HAS NO MAX SUPPLY (except Ethereum)

2. Don't buy any coin with more than 100 billion Supply.

You wan use airdrop and 20 dollars be multimillionaire?

HEAVEN4444:
i told fools this crypto thing is a scam.

ignorance is a big diseases,Defi100 where you can stake and farm your crypto, crypto currency itself isn't a scam but scammers can use many means to take your crypto and sell

Arda1000:
ignorance is a big diseases,Defi100 where you can stake and farm your crypto, crypto currency itself isn't a scam but scammers can use many means to take your crypto and sell

all you are doing with crypto is floating alongside the main legal tender and so there are no assets but just speculations and as such it is a glorified pyramid scheme and there will be winners on top and many losers below

Am waiting for d Nigerians are fools crew
If it was in Nigeria now u will start hearing Nigerians don't have sense, black people this Africans dat, now am not hearing white people don't have sense

We are more racists dan whites

Never liked this crypto whatever of a thing for one day,I always develop cold feet when my friends try to entice me into doing it,shit happens and I'm not ready for one...

Guys keep an eye on OLIVE CASH...I smell fish.

hahahaha

Blunt morafokas

tamdun:
mmm reloaded, crypto trading is gambling, u buy 100k crypto and expect it to turn to 1m overnight, sorry be ur name,the painful part is, the money is untraceable,instead of make una do better business, una dey look for shortcut, 13 billion just poof like that
binary option is another gambling in disguise, run for ya life

Hahahaha...it's a crazy world. It's a big risk esp with new projects without solid fundamentals. They've scammed me like twice this month with the little money I had.

Arda1000:
ignorance is a big diseases,Defi100 where you can stake and farm your crypto, crypto currency itself isn't a scam but scammers can use many means to take your crypto and sell

all.ow idiots to wallow in their ignorance. Don't even try to explain anything.
Just thank your star you are not ignorant

UncleKoboko:
Lol!
Just like what that useless ROCKETMOON did to my guys... I kuku warned them say na rug pull and pump and dump useless token

I always tell people:

1. DON'T BUY COINS THAT HAS NO MAX SUPPLY (except Ethereum)

2. Don't buy any coin with more than 100 billion Supply.

Why?

In my view, only fool invest big money in crypto.

Unless you are one of those overlord scammers that control its trade.

id911:


Hahahaha...it's a crazy world. It's a big risk esp with new projects without solid fundamentals. They've scammed me like twice this month but I don't care. Just this week, I got lucky in one and made x170 of my initial investment and pulled out.

buy solid gems which real world usecase and utility and have rest,buy them when they are cheap and stake it if possible and keep receiving passive income from it. Shitcoins will get you burnt.

UncleKoboko:
Lol!
Just like what that useless ROCKETMOON did to my guys... I kuku warned them say na rug pull and pump and dump useless token

I always tell people:

1. DON'T BUY COINS THAT HAS NO MAX SUPPLY (except Ethereum)

2. Don't buy any coin with more than 100 billion Supply.

Doge has no max supply. The key is getting in early and being smart to leave on time.

Papacypaul:
buy solid gems which real world usecase and utility and have rest,buy them when they are cheap and stake it if possible and keep receiving passive income from it. Shitcoins will get you burnt.

Of course, I know. It's a game with shitcoins. That's why you only invest what you can afford to lose.

id911:


Hahahaha...it's a crazy world. It's a big risk esp with new projects without solid fundamentals. They've scammed me like twice this month but I don't care. Just this week, I got lucky in one and made x170 of my initial investment and pulled out.

Lucky you

[s]

id911:


You're still a learner. Doge has no max supply but a lot of guys became millionaires because of it. SafeMoon, ElonGate, Shiba Inu, Hoge etc have 1000 trillion each as initial supplies but many became dollar millionaires from them. The key is getting in early and being smart to leave on time.

[/s]
You're still a learner. Keep fooling yourself that one day, useless coins like doge can reach $10 and you'll become a billionaire. It will never happen in your life time.
All those useless coins dashing out "free money" is a complete Ponzi. Go and research on Ponzi if you don't know the meaning. Many of you noobs just thinks it's about those useless numbers of shitcoins you have. They are all rug pulls.
Doge coin is just an exception because Elon musk and mark just wanted to prove to the world that they can make money from thin air. Still, the frenzy won't last. Elon is not a father Christmas. He's in the business to make profits too and when he finally dumps his doge, you guys will cry blood

It's ridiculous how people spend money to buy something that is intangible in all ramifications.

If crpyto was so valuable, why do the major sellers take known currencies? What are they doing with it?

Well, those that have 'cashed out' are lucky

tamdun:

Lucky you

Yeah, thanks. Since I was already rug pulled twice I was seriously scared. I had to pull out early with x170. After I pulled out, the coin went parabolic to x350 from my initial entry. It was painful sha but I was happy. The key in shitcoins is investing what you can afford to lose. Then when you make small money, look for gems with solid fundamentals behind it, invest and go to sleep well.

id911:


Yeah, thanks. Since I was already rug pulled twice I was seriously scared. I had to pull out early with x170. After I pulled out, the coin went parabolic to x350 from my initial entry. It was painful sha but I was happy. The key in shitcoins is investing what you can afford to lose. Then when you make small money, look for gems with solid fundamentals behind it, invest and go to sleep well.

like I said earlier, lucky you

[s]

UncleKoboko:
[s][/s]
You're still a learner. Keep fooling yourself that one day, useless coins like doge can reach $10 and you'll become a billionaire. It will never happen in your life time.
All those useless coins dashing out "free money" is a complete Ponzi. Go and research on Ponzi if you don't know the meaning. Many of you noobs just thinks it's about those useless numbers of shitcoins you have. They are all rug pulls.
Doge coin is just an exception because Elon musk and mark just wanted to prove to the world that they can make money from thin air. Still, the frenzy won't last. Elon is not a father Christmas. He's in the business to make profits too and when he finally dumps his doge, you guys will cry blood

I don't invest in doge. I was only trying to correct erroneous impression that coin over 100 billion supply is not worth to invest in. You know nothing bro. XRP has over 45 billion supply and it's one of the best coins most American revere with excellent use case and extreme low gas fees. Only SEC issue is keeping it from soaring. What about ADA? Get behind me bro