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Fake Ethereum Tokens Net $53,000 in Just 30 Minutes

From decrypt.co

When Yearn Finance (YFI) creator Andre Cronje tweeted about his new credit lending and loans product, Deriswap, today, a bunch of opportunistic scammers jumped in to ride out its immediate popularity. One such pool made over $53,000 in under 30 minutes.Cronje is seen in crypto circles as a prolific developer with a Midas touch. Hype and a “fair” launch (and an extremely low 30,000 supply cap) caused the token prices of his first project, YFI, go from under $30 in July to a peak of $42,000 in September. As a result, hopefuls would pile inordinate amounts of money into subsequent Cronje projects—like Keep3r Network and ... (full story)

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  • Category: Fundamental Analysis