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- The DeFi100 team notified users that the website had been hacked the previous day, and the hackers displayed the message
- The D100 token is down by almost 25% and is currently trading at $0.08
- Whale, an anonymous Twitter crypto analyst in a tweet, announced that DeFi100 is another exit scam
A new decentralized finance (DeFi) protocol, DeFi100, has been deemed as a scam. As per Coindesk, people involved in DeFi100 are fleeing after taking a heavy amount of money from investors.
DeFi100 Tweets That the Website Had Been Scammed
- DeFi100 was launched in the Binance Smart Chain. Visitors soon found that the protocol’s website was hacked as it displayed a message. The message read that the website has been hacked, and people cannot do anything about it. However, the page from the website has been removed. In a recent tweet, the DeFi100 team notified the users that the website had been hacked the previous day, and the hackers displayed the message. It also added that the website had been recently taken down.
Twitter Analyst Advises Users to Invest Carefully in New Protocols
The event has affected the value of the token D100 as it should. The token is down by almost 25% and is currently trading at $0.08. In a tweet, Mr Whale, an anonymous Twitter crypto analyst, announced that DeFi100 has exited the scam and ran away with funds worth $32 million in investor funds. The tweet also included a screenshot of the page, which displayed the message that the website has been hacked. In his thread, he added that as the bull market fades, many such protocols will disappear too. In the next few the number of exit scams will also increase.
Mr Whale advised users not to invest in newly launched projects and especially which have anonymous developers. While there is still a possibility that this could be a hack, people also say that this may be a ‘rug pull.’ This refers to exit scams that occur in the crypto industry very often.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
