Exit Scam in DeFi Steals $226.5k from Investors Using Fraudulent Tokens!

Exit Scam in DeFi Steals $226.5k from Investors Using Fraudulent Tokens!

Crypto Live News

Author: Mustafa Mulla Aug 20, 2023 18:15

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Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

In a recent exit scam in the DeFi space, a fraudulent version of the Friend Tech token was used to steal 135 ETH, or $226.5k, from unsuspecting investors. This incident follows a slew of 12 scams that occurred in just seven days, causing over $11 million in total losses for the community. It highlights the need for greater caution and due diligence when investing in the unregulated world of DeFi.

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