$31 Million Ponzi Scheme Shut Down by Morgan Stanley

$31 Million Ponzi Scheme Shut Down by Morgan Stanley


DF Fintoch, a Ponzi crypto project impersonating Morgan Stanley, has reportedly exit scammed with around $31.6 million, highlighting the return of crypto scams in the market.

Cryptocurrency Scams: The digital currency space is full of scams and rug pulls directly affecting investors over time. In the latest development, a cryptocurrency project impersonating Morgan Stanley, DF Fintoch is reportedly on the run with around $31.6 million.

Return Of Cryptocurrency Scams?

As per ZachXBT, a cryptocurrency scam research company highlighted that the team behind the Ponzi cryptocurrency project DF Fintoch has likely exited scammed. It added the project moved 31.6 Million Tether (USDT) (USDT) on BSC. Nonetheless, the funds then were bridged to numerous addresses on Tron and Ethereum (ETH) chains.

Earlier, Morgan Stanley indicated that Fintoch was using their trade name and trademark without any authorizations. It added the financing banking company holds no responsibility for any transactions as it does not have any affiliation with the platform.

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ZachXBT indicated that Fintoch promoted a 1 percent return on financing daily. Although while it claimed to be owned by Morgan Stanley. The Ponzi project page mentioned the name “Bobby Lambert” as the CEO. Nonetheless, this personality doesn’t exist and can be a paid actor. Read More Cryptocurrency Scam News Here…

Morgan Stanley clearly indicated that it does not send financing offers through emails or encourage them on social media. Nonetheless, the company even does not directly trade in cryptocurrency products in the name of clients. Nonetheless, Singapore Government likewise announced an investor alert.



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