Welcome to another episode of "beware it's a scam"! The analysis of scam/ponzi/MLM crypto "trading companies" or tokens that are clearly a scam.
Here is an updated list of DEGEN crypto "projects" that rug pulled/scammed/failed in the last 6 months:
- Alpha Capital . app: see my detailed post about this. They were giving ≈ 1,15% daily on BNB, BUSD, MATIC or USDC. Claimed to get gains from direct trading of team. Refunded 10% and asked investors if wanted to stay with the platform or be refunded totally. Sent some total refund but still a lot of others users are waiting to be completely refunded. See linked post for details of the "hack". Total money on the platform the 16/01/2023, at the time of the hack : around 2,100,000$ in crypto. Website still online, telegram channel still online but in "read only mode". After full refunding who asked, they claims that will keep trading for the other users but will not accept any more deposts (Note: still a lot of users claims that did not received any full refund, even if they asked).
- Yield Robot . app: 2% daily on BUSD pool. Founder was "Maneesh Agrawala", Co-Founder was "Lia Adams", with pictures of two bored apes on the official website, instead of real photographs. The team said that they were earning through "AI Investing, algorithms and AI machine learning". Telegram channel disappeared, website unreachable. Total money on the platform when rug occured: 3,412,665$.
- Circulate . money: from 2% to 5% daily in BNB, BUSD, AVAX or USDC. 12.01.2023 website unreachable and smart contract depleted. Total money on the platform when rug occured: 2,357,872$.
- RelyFund: 2% on BSC, ETH, AVAX, USDC via bot trading. After one of the co-founders and main trader claimed to being involved in a traffic accident, breaking one arm, they decided to pull the plug and leave the contract open to for withdrawals until depleted. Right know the website is unreachable, Discord and telegram were closed the 20.01.2023. Total money on the platform when closing occured: 4,236,104 $.
- BNB Profites .cc: different cryptocurrencies to deposit. 5 types of investment, from 4,5% hourly to 400% after 7 days (LOL!). Website now is unreachable.
- Prosperity Gem Ventures .io: 2% daily, deposits available in BSC, TRON, and Polygon. Team is earning through LP staking and bot trading. Deposits are unavailable for some pools but platform is still online.
- BUSD Oracle: 2,2% daily on BUSD via smart contract. Website still reachable but no information if they are still operating.
- Titano. finance: 102483% APY (yes, 102k%!) holding the proprietary token (TITANO). Token was worth ≈0.15$ in April 2022, now is worth ≈0.000015. Website was taken down and up again, it now redirects to swych. finance, similar token SWYCH and similar offer. TITANO has no transaction today.
- robotics .online: 465% APY, deposit were available in Bitcoin, Ethereum, Litecoin and Tether. They claimed to be around since 2018. MR. "Michael Stark" was the CEO. Controversial reviews on trustpilot and website today gives an error.
- Haru invest .com: up to 25% APY on ETH, BTC, USDT, USDC. Platform halted withdrawals and operations some months ago. It was known in this subreddit (has also an officialsubreddit). Multiple news about the event can be found on main crypto websites.
- Firefund .finance: deposit BUSD via BSC, 0,5% daily. The smart contract cannot let devs withdraw more than 10% of contract amount per week. There is alo a whale fee of 50% for withdrawals of amounts bigger than 10% of contract. The project suffered a "bank run" initiated by some whale and now contract are empty. The team has said that will refund investors in 6 months-1years, but no new money is accepted in smart contracts.
- wolfcapital .app: users can enter a "wolfpack" and earn up to 1,5% daily. Project suffered a bank run and team withdraw the contract, promising a new contract to go live on August 14th.
There are also some "projects" (quotation marks are needed) that are still going on but some of them had multiple losses/problems. Please be extremely careful if you ever think to invest in those. Here they are:
- optimus .money : 1% for holder of OPT3, team earns from bot trading and pays out with proprietary token. Token lost 99% of value, from 0.01 to 0.001. Still operating today after more than 6 months.
- Ark . finance: deposit BUSD to get 2% APY on proprietary token ARKFI . Token lost 90% of value and is highly inflationatory. Still operating today after more than 6 months.
- Myst . fi: from 0,5 % to 1,5% daily on BUSD and MXST (% depends on how much of proprietary token is held) through "proprietary algorithm-driven trading bot and dApp that uses deep technical indicators & on-chain data analysis to action trades & maximize your daily profits.". Project still going on. Unknown losses/problems.
- Aperture . finance: 0,3% daily on AVAX paired with others crypto currencies. Still operating. Unknown losses/problems.
- flynt .finance: BTC 30% APY, ETH 9% APY, USDC 12% APY. BTC suffered huge losses during the last months (-30%, -10% of the capital a couple of times).
- Margin Syndicate: direct trading up to 30% monthly through trading via API, with own account on ByBit or Binance. BOT trading is available but less profitable (up to 8% monthly). Fees must be paid manually at EOM. Account suffered huge losses in may/june 2023 a couple of time, they are recovering little by little.
- Sperax USD (USDs): stablecoin on arbitrium chian that let holders earn up to 12% APY. Just holding the USDs in a cold wallet let you gain the earnings. There are also "farms" available were investors can stakes USDs and SPA for higher yield. Devs claims that Sperax USD is 100% collateralized by stablecoins such as USDT and USDC. They suffered an hack some months ago, but the white hat hacker returned funds and they fixed the hack. Now they are operating normally.
- Kronos trading: 3-8% monthly with algorithmic trading through APY with own account on ByBit or Binance, on KRONOS or Bitcoin. BTC trading had huge losses reported also on the website. Kronos trading had minor losses.
Please note that I have not put any direct link to the websites to avoid post being locked by auto-mod.
This is not a financial advice. This post is just informative. DYOR.
While commenting, please respect other's opinion (and mine)!
Edit: the title is, of course "scammeD" not "scammeR". Just a typo.
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