Its seems that the joyful feeling of CUbDefi launching from leofinance teams has not even gone yet, and those feeling which attract most of us to get a hand into the Defi World has still high above a bad news has arrived in a big shock toward most of the people.
TurtleDex one of the highly anticipated crypto project in Binance Smart Chain ecosystem, has gone scam just a few days after hitting the Defi Exchange. Adding another bad name toward a risky world of DEfi and Cryto in general.
Before we continue its better we get to know about the TurtleDex first. Turtledex is one of highly anticipated crypto project in Binance Smart Chain Ecosystem.
They want to be a Decentralised Storage Platform for it user, where it aim to help user store and keeping thier files in big data protocol without the need of its user to actually store it in their device.
The project has been team up with several other Binance Smart Chain Project like JetFuel and Apeswap. Its also been listed on the upcoming BSC Calender from some of the big news making a false security toward the project.
They managed to finished all the presale token in just for two hours, such a highly anticipated project witch attract more attention and sadly more victims.
The scam itself is conducted by the so called rugpull where the dev flooded the project token and taking out the other establish coin in the Liquidity Pool or LP in this case they are taking out ETH and send it toward 9 different addresses inside binance exchange
by looking at how smooth and fast the scam is done, some thinking that the scam its self is nicely planned and executed. It has been done in 24 hours after the presale. They also deleted all of their media Social Channel, their telegram group, channel and also the account, even they shutdown the website.
What a fast move from a project name that associated with slow moving things. Well its a scam, so it gotta fast.
The scam is really brings alot of disappointment from those investor who has a lot of faith toward the project and invested a lot of money for it. Its also adding another fear towards the Defi, considering how fast a scam can be.
More over the have already been team up with other establish project, making the needs of careful partnership toward each new project and any partnership into the defi world.
Finally there is nothings so secure and certain in this risky and anonymous world of crypto. Yes it has brings tons of benefit for humankind, but without a good research and a deep security audit things like this will happen in the future. We need to be really careful in choosing a project, and also make sure we investing the money we can afford to lose.
Investor expressing their dissapointment
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