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

August 20, 2023
in Crypto Exchanges
Reading Time: 2 mins read
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Writer: Mustafa Mulla Aug 20, 2023 18:15

Mustafa has been writing about Blockchain and crypto since a few years. He has earlier buying and selling expertise and has been working within the Fintech trade since 2017.

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In a current exit rip-off within the DeFi house, a fraudulent model of the Pal Tech token was used to steal 135 ETH, or $226.5k, from unsuspecting buyers. This incident follows a slew of 12 scams that occurred in simply seven days, inflicting over $11 million in complete losses for the group. It highlights the necessity for higher warning and due diligence when investing within the unregulated world of DeFi.

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Tags: 226.5kDeFiExitFraudulentInvestorsscamstealsTokens
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