Defi100 Crypto Scam Review – What really happened?

Defi100 Crypto scam is an alleged scenario wherein few people on Twitter are saying that this platform looted the public using false narratives and the damage caused by them is around 32 million dollars.

Of course, the personalities that brought the whole incident to light are well known in the community and we are going to give every information about them later in the review. The people behind this project have denied all the allegations against them, but the public sentiment is still negative.

These types of incidents serve as a reminder as to why one should be very careful while dealing with the crypto space. Always remember the golden rules, do not invest into anything you are not familiar with and secondly, never invest more than what you can afford to lose.

To know more about this incident, the Twitter war associated with it, continue reading this report and if you have any questions, comment below and we will get back to you as soon as possible. 

Preliminary Checks

Defi100.org is a popular website. They are not blacklisted by any search engines or platforms. The padded icon is present which means they have a valid ssl layer. Their domain is 5 months old and the registrant information is not present.

Whenever the lack of transparency is evident, it means the trust factor will be low and the same rule applies to this one too. Defi100 is a digital token and as it is new, many websites have done posts about them.

They do have a lot of backlinks and more than 150 websites link out to them. A lot of their traffic comes from coinmarketcap.com and as far as popularity goes, their global rank (311,553) speaks for itself.

A search on ahrefs reveals that this website has a domain rating of 15 which to be honest, isn’t that great.

Website

Once you land on the homepage of Defi100.org, the interface will be something you will have no issues with. Unlike a lot of websites in this niche, they have kept it simple and the benefits are laid out in a pleasant way.

Details about yield farming and the way the token works is depicted. There are a lot of technicalities involved, but the calculations are pretty simple for people that are familiar with Defi.

However, it does not mean that the entire thing is risk free. Just like every other token, the price swings are huge and without hedging and proper risk management strategies, things might get out of hand.

If you see their analogies, clearly there is a lot of room for profits, but it needs to be handled with care. 

Defi100 Crypto Scam Explained

Crypto scams are on the rise and every year millions of dollars are lost to the crooks. According to numerous reports and Tweets, Defi100 has allegedly caused a loss of over 32 million dollars.

Few influencers are calling it an exit scam which only benefits the people on the inside. Blatant claims followed by huge speculation has worried a lot of people and things are chaotic at the moment.

The Defi100 team has denied all the accusations and have reassured investors that there is nothing to worry about. They did admit that their website was hacked, but now, the situation is back to normal and the website is fully restored.

If you are interested in knowing more about the situation, then feel free to check out the Tweets from these handles. Just by using the links below, you will get to know about all the drama associated with this incident.

Note that, nothing is backed up by solid evidence and until solid data is found, do not believe in any rumors floating on the internet. 

Mr.Whale

DEFI100

Defi100 Community and Reviews

As Defi100 represents a new era of finance, numerous people on social media are promoting it and data about them is very easy to procure.

In theory, the ideologies behind the project are great, but only time can tell us where this token is really the next big thing that is going to create a wave of millionaires. Defi100 is associated with a lot of vaults, pools, and yield farms.

Every one of them has their own separate dedicated section, but to get a sense of the community, it is better to look at Bitcointalk.org page. Many investors are happy with this project and are excited to get new updates and hodl the token for long.

There are few critics here and there, but the optimism is present from the beginning and the bulls do have a valid point. 

It doesn’t seem ridiculous, given the interest in DeFi. But it is certain that it will not do the pricing expected from an IDO.

There is also this, I think it will be a flexible coin like AMPL and there will be rebase moments. Accordingly, there may be good pricing at the beginning.

I guess IDO will not attract much attention, there was no big hype this time. It is also interesting that BAKE is not wanted for a job called Bakeryswap, the price is falling instead of rising, I wish they would prefer this instead of BNB and BUSD. With the excuse, BAKE also seems to give you the opportunity to buy, but the place is full of whales, and someone is preventing it from going up

It is useful to follow.

Redditors for some reason are way too skeptical about this coin. Many people have expressed their concerns and for the most part, it seems to be overly pessimistic.

Look at the following comments we gathered from a Reddit post. Isn’t it obvious that the FUD is bigger than ever?

They won’t, people are dumb enough to invest money into projects out of sheer greed. There is no guarantee what the project is supposed to do with the money, but they like to put it into “Pools” with 500% returns.

Sucks for the people involved, but if you are investing into absolutely thrash this almost deserves to happen. Regulation isn’t all that bad, though it has its drawbacks.

This $32 million might never be invested in crypto again. Together with some of the other defi exitscams lately (probably a $bil+) it will affect the market.

If the fiscal policy of a coin is “HODL AND WE ALL GET RICH!!!🚀 🚀 🚀!!!”; You are probably going to lose your money.

If you have any questions or serious concerns, then the best place to get answers would be to tag DEFI100 on Twitter.

Remember, they may not answer all the questions, but if it is important enough, then they will surely get back to you. 

Conclusion

The Defi100 project has a long way to go. They need to enhance the security of their online portals and work on building a more loyal user base. More importantly, people need to do their part as well.

It is undeniable that cryptocurrencies are the future of finance, but not every coin is going to survive in the long term. Exploits in the protocols and other hacks will always occur which is why it is important to maintain a diversified portfolio.

As far as the allegations go, since nothing is proved yet, we cannot comment anything about it. Our best advice to you is to make sure you follow all the golden rules of investing which we covered earlier in this report.

Remember to always aim for long term gains and to never invest into small cap coins or tokens. Things like staking, yield farming and other forms of lending are getting popular.

Though they all claim to make you money, everything will have a hidden catch and the key to success is to hedge the risk. As long as risk is hedged, though it might affect the reward curve, the end results will be worth it.

Decentralization is a big thing and it is a desirable element in the field of finance. Nonetheless, the practicality element is still not at a significant level and that will be a major pushback. 

What do you think about the Defi100 Crypto scam and all the allegations? Input your opinion in the thread below.