Is DeFi the Next Crypto Scam Haven? FTX Was Just the Beginning...

By Cyfab | Cypherpunk 2.0 | 4 Aug 2024


Remember the FTX meltdown? It was a harsh reminder that even "legit" crypto can be a house of cards. But here's the thing: FTX was centralized. Everyone breathed a sigh of relief, thinking "true" crypto (aka DeFi) was safe.

But have scammers taken note? You bet. DeFi's "clean" image might be its biggest weakness now. With less regulation and more anonymity, it's the perfect playground for the next big rug pull.

Think about it:

  • ZKX on Starknet: This FTX-backed project just vanished into thin air, taking millions with it. A taste of what's to come?

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  • DeFi's complexity: Even seasoned investors struggle to understand the maze of protocols and smart contracts. Perfect cover for shady dealings.
  • The lure of easy money: DeFi promises insane yields, but are they sustainable? Or just bait for the unwary?

I'm not saying all DeFi is bad. But let's be real, the next big crypto scandal might not be what you expect. Stay sharp, do your research, and don't fall for the hype.

Want to stay ahead of the curve? Follow me on YouTube and X / Twitter for more insights on the dark side of crypto.

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Cyfab
Cyfab

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Cypherpunk 2.0
Cypherpunk 2.0

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