- DeFi project WhaleFarm fell by 99% after a rug pull.
- The project was only a month old and offers over 7 million in APY.
- Also, there has been a marked increase in calls for DeFi regulation
DeFi project WhaleFarm has allegedly scammed investors out of about $2.3 million. The project’s anonymous team apparently did a rug pull leading the project’s native token tumbling by 99% within minutes.
WhaleFarm Token is the most recent scam to pull the rug on investors. It’s estimated they stole over $2.3 million.– Fully anonymous team– Promised 7.2 million % in returns– The token is now down -99.99%– Twitter page deactivated– Telegram group deleted pic.twitter.com/Ye6CZ9HgUt
— Mr. Whale (@CryptoWhale) June 30, 2021
This article was first published on coinquora.com