Morgan DF Fintoch, a project falsely claiming association with Morgan Stanley, has allegedly conducted a crypto exit scam, stealing user funds worth nearly $32 million, highlighting the dangers of greed in the crypto industry.
Morgan DF Fintoch, a project that claimed association with Morgan Stanley, has allegedly stolen user funds worth nearly $32 million.
The cryptocurrency industry often becomes a lucrative sector for investors consumed with greed and ambitions to get rich quickly. The scammers benefit from this greed and the sophistication of technology for their malpractices.
Morgan DF Fintoch Exit Scam
The on-chain sleuth ZachXBT tweeted that Morgan DF Fintoch has likely conducted a cryptocurrency exit scam and stole 31.6 Million USDT. ZachXBT wrote, “Fintoch advertised 1 percent daily ROI & claimed to be owned by Morgan Stanley.”
Earlier, Morgan Stanley announced a notice informing users that it does not have any affiliation with DF Fintoch.