Crypto Scams: The cryptocurrency space is full of scams and rug pulls directly affecting investors over time. In the latest development, a crypto project impersonating Morgan Stanley, DF Fintoch is reportedly on the run with around $31.6 million.
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Return Of Crypto Scams?
As per ZachXBT, a crypto scam research firm highlighted that the team behind the Ponzi crypto project DF Fintoch has likely exited scammed. It added the project moved 31.6 million Tether (USDT) on BSC. However, the funds then were bridged to multiple addresses on Tron and Ethereum chains.
Earlier, Morgan Stanley stated that Fintoch was using their trade name and trademark without any authorizations. It added the investment banking company holds no responsibility for any transactions as it does not have any affiliation with the platform. However, the Ponzi crypto project, Morgan DF Fintoch gathered more than 70K followers on Twitter.
ZachXBT stated that Fintoch promoted a 1% return on investment daily. While it claimed to be owned by Morgan Stanley. The Ponzi project page mentioned the name “Bobby Lambert” as the CEO. However, this personality doesn’t exist and can be a paid actor. Read More Crypto Scam News Here…
Morgan Stanley clearly stated that it does not send investment offers through emails or promote them on social media. However, the firm even does not directly trade in crypto products in the name of clients. However, Singapore Government also issued an investor alert.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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