Yfdex.Finance (Yfdex), a new liquidity mining pool, has reportedly exit scammed, making off with up to $20 million of investors’ funds. The decentralized finance (Defi) project convinced people to hand over their life savings following just two days of aggressive marketing on social media, and then disappeared without a trace.
Crypto investor and analyst Cryptowhale on Thursday tweeted about Yfdex’s alleged dramatic plunder, a classic hit, and run. “Another day, another Defi scam!” the analyst ridiculed. “After promoting themselves on Twitter for 2 whole days, Yfdex has taken a total of $20M of Investors funds in their recent exit scam,” he added.
News.Bitcoin.com followed the breadcrumbs. A visit to Yfdex’s official channels on Telegram and Twitter showed that both accounts had been pulled down. The protocol’s website as well as its page on Medium, all of which were used to promote the project, returned an error message.
But much of the work had been done prior, in the past two days, to be exact. On September 8,…