DeFi Money Laundering & Scam Risks for Users: Real Case
26 Juli 2021 - 3:25PM
NEWSBTC
Decentralized Finance (DeFi) has become more and more popular in
the past few months. According to the statistics, by Q1 ’21, the
overall monthly trade volume has almost tripled compared to
December 2020 ($25 billion). The average daily DEX trade volume
grew from $0.71 billion to $2.26 billion — a quarterly rise of
318%. Don’t let it catch you by surprise, but even adult bloggers
started to yield farm and are currently earning a profit on DEXs.
Although the rapid growth is evident, DeFi is yet a Wild West
market – half of all thefts in 2020, totaling $129 million, were
DeFi-related hacks. Today we want to share with you the story that,
unfortunately, happened to our favorite influencer, Nasty Bond. In
2021 since the big flux, she became interested in crypto and began
to actively explore the possibilities of the DeFi market. Nasty
Bond decided to somehow try making money in this market and
therefore, became active on Twitter constantly asking for advice
and engaging her community into helping her make the right
decision. She has also recently started actively farming on DeFi
protocols. Once, she tried to cash out her earned yields via the
centralized exchange, and sadly enough, she got blocked on
WhiteBit. Link Luckily, someone from the PureFi community tagged
the Purefi team to help her out. The Protocol threw an
investigation and helped her to sort out the situation with the
WhiteBit. The girl tried to stake a portion of her earnings to
yield farming, but she was phished, which eventually caused the
WhiteBit AML software to get triggered. Fortunately, the WhiteBit
has the particular KYC/AML procedure for such cases, and as a
result, she got unblocked. Nasty Bond Tweet We kindly ask you to
keep an eye out and watch out for the scams. The numerous scams
only confirm that DeFi is a great and profitable place to be a part
of. Image by Sammy-Williams from Pixabay
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