DeFi100 Might Have Defrauded Investors of Millions

Last Updated on May 24, 2021 by Jason

DeFi100, a finance protocol that is decentralized and built on Binance Smart Chain, seems to be a scam, and the people behind it have stolen money from investors.

An anonymous Twitter crypto analyst estimated the theft to be at $32 million. It’s not clear how they reached this figure. Not that long ago, a message on the website said that investors had been scammed and that they ‘can’t do the *slightest thing* about it.’ The page has been removed since then, but here is a screenshot of it:

DeFi100

The site very well could have been hacked, because there hasn’t been a comment made public on DeFi100’s Twitter page, but it is a lot more likely that the situation is what’s called a ‘rug pull’, which can happen occasionally in the world of cryptocurrency.

It reiterates the concept “never invest more than you can afford to lose.”

D100, which is the crypto of DeFi100, has decreased 25% over the last day.

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Jasonhttps://earthweb.com/
Hi! I'm the editor at EarthWeb. I have a deep interest in technology and business. I also enjoy testing products out. Contact me to be featured!

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