Yfdexf.Finance is the latest DeFi project to disappear with investor money

The DeFi (decentralized finance) domain, which is experiencing exponential growth, is plagued with scandals as another dubious firm has come out with hard-earned money from investors. The DeFi project in question is Yfdexf.Finance.

A news published by ZyCrypto states “A new DeFi project for the liquidity mining pool, Yfdexf.Finance exited the market after defrauding investors of $ 20 million in total funds locked in its protocol.”

The firm has covered its activities on Twitter and social media apps like Discord for the past 48 hours, ZyCrypto explained. Attempts were made to track down his cover-up attempts, but he cautiously erased crucial details that would have exposed him.

DeFi dominance has progressed at a breathtaking pace this year, particularly in recent weeks, with initiatives like SushiSwap amassing millions of dollars in action within days of launch. Some of these businesses, however, have proved problematic in many ways.