Just two days after the launch of a new liquidity mining pool Yfdex.Finance, the DeFi Protocol disappears with up to $20 Million of investors’ funds. 

The DeFi project used social media platform for its marketing and to persuade the investors so that they put their life savings in it. As soon as Yfdex.Finance raised funds, it disappeared without any trace.
<h2>DeFi Protocol Removed All Its Official Accounts</h2>
On September 10, one of the crypto investors and Cryptowhale analysts informed this scam through a tweet. The analyst in his <a href="https://twitter.com/CryptoWhale/status/1303665831570743296" target="_blank" rel="noopener">tweet</a> described how Yfdex.Finance raised and steal the fund. 

The Cryptowhale analyst further tweeted, “Another day, another Defi scam! After promoting themselves on Twitter for 2 whole days, Yfdex has taken a total of $20M of Investors funds in their recent exit scam.”

As per the report, Yfdex.Finance has removed its official accounts from Telegram as well as Twitter.

The website of DeFi protocol and also its Medium pages have been removed from the platform. Earlier, the project was using the platform for the promotion but presently, all those pages are showing an error message.

Recently, a Telegram group chat’s screenshot has been found in which the Yfdex community held a discussion on the pre-sale of its eponymous token. In the discussion, Yfdex announced that it would start its pre-sale of tokens on September 08, at 16:00 UTC. 
<h2>Yfdex.Finance Announced To Offer 12 Yfdex Tokens</h2>
While claiming itself to be the powerful player of the industry, the DeFi protocol notified that the pre-sale of the token would be live for four hours only. 

In its telegram chat with the community members, Yfdex.Finance notified that for investors’ every investment in ether (ETH), they would be offered 12 Yfdex tokens.

Soon after the pre-sale was started the DeFi project locked over $20 million, which it earned from thousands of investors. But later on September 09, the investors found that the project, in which they have invested their life savings, suddenly disappeared. 
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Another Defi Protocol Make $20 Million Exit Scam After Two Days Of Listing

Just two days after the launch of a new liquidity mining pool Yfdex.Finance, the DeFi Protocol disappears with up to $20 Million of investors’ funds.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Another Defi Protocol Make $20 Million Exit Scam After Two Days Of Listing

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