The Retik Finance team just came out with a response to a few articles that questioned the token’s legitimacy. In this response, they refer to the claims against them as “unsubstantial” and "unsupported" and say that they would refer to these concerns “point by point.” Not only is this a lie, but they simply ignore one of the biggest points: the fact that there are so many fake advertisements about Retik Finance. All it takes is a simple scroll through Coinbase's articles about Retik to see that there is far too much deceptive advertising. The number of articles promoting Retik is simply ridiculous; every day they churn out 3–6 articles. No other cryptocurrency has such crazy advertisements. It makes sense that Retik Finance, being a scam token, would advertise so much: to attract as many investors so that they can steal as much money as possible.
Here are a few more articles about Retik Finance:
- 3 Low Cap Alternatives To Cardano (ADA): Simply reading the section on Retik Finance, one can see that they don’t offer any proof whatsoever of the wild claims they make. They claim that they will introduce a “Crypto DeFi Debit Card," “redefine decentralized finance (DeFi) with groundbreaking solutions,” and “Retik Finance focuses on creating a fully decentralized financial ecosystem.” These claims are simply put forth, yet they are completely "unsupported.” After each of these wild claims, they immediately spit forth another such claim.
- Why Is Solana (SOL) Falling? Whales Are Dumping SOL For New DeFi Gem Priced At Only $0.07: This article claims that Solana is failing, but looking at Solana on Coinbase shows quite the opposite. In fact, Solana is close to its all-time high for the past year, so the claim that Solana is failing is an absolute lie. This article alone is enough to doubt the legitimacy of Retik Finance.
There are hundreds more such articles, yet Retik Finance’s response argues that the claims against them are “unsupported” and “unsubstantial.”
Just last year, a scam token called RenQ Finance stole over $14 million. Comparing the two tokens, neither of the developers revealed themselves; they both had lots of marketing, and both made unbelievable claims about changing DeFi. Interestingly, both of their whitepapers have nearly identical themes, and their logos are so similar that it seems that the people behind Retik Finance are just the same people behind RenQ Finance. Just look at their whitepapers: Retik and RenQ. If you want to see real whitepapers, look at Bitcoin, Ethereum, and Cardano with its multiple whitepapers. These whitepapers actually prove the legitimacy of the crypto; they’re not just some colorful slides saying some generic information. Although this is not proof enough that Retik is a scam (although it is), if you read through Retik Finance’s and RenQ Finance’s whitepapers, both make lofty claims about how they will change the market, stressing that they will make breathtaking advances, yet all these claims are “unsupported” and “unsubstantial” as they don’t offer any proof of how they will do it. These are just baseless claims seeking to trick investors into giving their money to Retik. If you read on, you’ll also notice that the Disclaimer and Risk sections of both are extremely similar in both style/theme and wording. It‘s probably not a coincidence that Retik Finance and RenQ Finance are so similar.
In regards to the Certik Audit that Retik just stands behind as their proof of legitimacy, RenQ Finance also had a Certik Audit, and their audit did better than Retik Finance.
As you can see, RenQ Finance has a security score of 80.58 on Certik, but Retik Finance has a security score of 73.5. The fact that a well-known scam token, RenQ Finance, has a Certik score greater than Retik is extremely alarming. Looking deeper, both RenQ and Retik do very poorly on Fundamental Health, specifically because they had no Certik KYC. In the Retik Finance response, they claim that they will release their KYC in Q2 of 2024, but this is either the point where they will commit to the rug pull or just make fake KYC like RenQ Finance did.
The Retik Finance response ends with generic statements advocating for people to ignore any articles that may disagree with Retik Finance and continue investing in Retik. They claim that they will “triumph over any attempts to spread FUD,” yet they are the reason behind any fear, uncertainty, and doubt in the crypto world. They are the ones offering “unsupported” and “unsubstantial” claims.
In the end, everyone will see them for what they really are, but how many more millions of dollars will they steal before then?
Here are the links to both Retik Finance and RenQ Finance, comparing their websites, audits, and whitepapers. (Both these tokens are scams; do not fall for them.)
Retik Finance:
RenQ Finance:
Thank You for Reading
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