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  2. Cryptocurrency Ecosystem
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  4. How to know a DeFi scam

How to know a DeFi scam

salvadormartin
2022-10-21 07:27:17

ICO is stone dead(RIP) and IEOs are on its death throes. Now its Decentralized Finance season and everyone and his pet cat are launching projects, and slapping DeFi on it. I would be attempting to point out the points to look out for in scammy DeFi projects.

1. Fake/Non-existent team
It is an increasingly common trend for scammers to invent fake founders and biographies for their projects, and stick it o their websites. Some don't bother at all. Having said this, some legit DeFi projects have anonymous team members. This point shouldn't be a deal breaker though.

Post Reply  
anabellcortess
2022-10-21 07:44:29
It's very hard to identify scam projects/ scam DeFI projects but many websites analyser developer . They easily find mistakes of websites, plagrismed whitepaper, fake projects team management and community. But hunters can't identify it.