$32M Crypto Scam: Project Vanishes in Apparent Exit Scheme

$32M Crypto Scam: Project Vanishes in Apparent Exit Scheme


DF Fintoch, a lesser known crypto project, is suspected of committing an exit scam and running away with $32 million of user funds, while falsely claiming affiliation with Morgan Stanley and promising a daily 1% return on investment.

A lesser known cryptocurrency project was known DF Fintoch seems to have taken off with $32 Million of user funds in a likely exit scam.

The project, referring to itself as “Morgan DF Fintoch,” promised a daily return of 1 percent on investment. The company allegedly claimed affiliation with Morgan Stanley, cryptocurrency investigator ZachXBT revealed in a thread.

Morgan Stanley had issued a statement saying this project was not affiliated with it. The project likewise claimed their CEO was an individual was known Bob Lambert, while showing a image of the actor Mike Provenzano.

ZachXBT pointed out that numerous investors claimed they are unable to withdraw their funds from the project. After checking data from numerous blockchains teck, he found that the user deposits were sent from Binance Crypto exchange Smart Chain to two other blockchains: Ethereum (ETH) and Tron.

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The project had gained 71,000 followers on Twitter platform and ZachXBT noted it has greater than 138,000 crypto token holders, suggesting there were numerous victims.

The Central Bank of Singapore had likewise put the project’s website on its investor warning list.



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