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Crypto Project ‘DeFi100’ Build On BNB Chain Highlights Itself As Scam.

Well-known crypto project DeFi100, a DeFi [Decentralized Finance] protocol built on the Binance Smart Chain, appears to possess been a scam, with the people running it has taken investors’ money and running away.

An anonymous crypto analyst on Twitter with over 197k followers put the haul at $32 Mln. It had been unclear how that figure was obtained. A message to the analyst wasn’t immediately returned.

Hours ago, a not-so-classy message greeted visitors to the DeFi100.org website telling investors they’d been fooled and “you can’t do [the slightest thing] about it.” While that page has since been removed, here’s a screengrab of it:

While it’s possible the location has been hacked, as long as there’s been no public comment from DeFi100 on its Twitter feed or the other platform, it’s more likely the event may be a so-called “rug pull,” a nasty little bit of business that every often now occurs within the crypto industry within which developers abandon a (usually tiny) project and begin with investors’ funds.

It reinforces the old saying “never invest more than afford to lose.”

The price of D100, the native token of DeFi100, is down 25% within the past 24 hours and is presently trading at a price of $0.08 USD.

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