DeFi100 coin has done a full fledged exit scam and this means, they have run away with 32 million dollars worth of investors funds. Upon opening DeFi100 website, users are greeted with message that says that they scammed investors and they cannot do sh*t about it. F*ck you moonbois.
As we fade into bear market, we will many similar project exit scamming on its users. So, expect a huge increase in exit scams over these next few months.
Cryptocoindaddy suggest users to never invest in projects that are very new, with anonymous teams, made as memes, and have a lack of real utility. Or if you really want to invest in memes like Dogecoin, Doge Token, Shiba token and so on, make sure to ride the wave and get out. Do not become a bag holder as meme coins have small cycles.
Exit scam of DeFi100 is so damaging to the crypto sector. Lots of people will be wary of being in early to a token now. Only a few will survive. If you have money in stuff outside the few few hundred, get it out. Times are going to change, and fast.
This is just another reminder to always do an extensive research and to not chase hype. Focus on good and legit projects with good fundamentals.
I am from Brisbane, Queensland and I hold post of Associate Editor at Cryptocoindaddy.