Decentralized Finance (DeFi) has become more and more popular in the past few months. According to the statistics, by Q1 ’21, the overall monthly trade volume has almost tripled compared to December 2020 ($25 billion). The average daily DEX trade volume grew from $0.71 billion to $2.26 billion — a quarterly rise of 318%.
Don’t let it catch you by surprise, but even adult bloggers started to yield farm and are currently earning a profit on DEXs. Although the rapid growth is evident, DeFi is yet a Wild West market – half of all thefts in 2020, totaling $129 million, were DeFi-related hacks. Today we want to share with you the story that, unfortunately, happened to our favorite influencer, Nasty Bond.
In 2021 since the big flux, she became interested in crypto and began to actively explore the possibilities of the DeFi market. Nasty Bond decided to somehow try making money in this market and therefore, became active on Twitter constantly asking for advice and engaging her community into helping her make the right decision.
She has also recently started actively farming on DeFi protocols. Once, she tried to cash out her earned yields via the centralized exchange, and sadly enough, she got blocked on WhiteBit.
Luckily, someone from the PureFi community tagged the Purefi team to help her out. The Protocol threw an investigation and helped her to sort out the situation with the WhiteBit.
The girl tried to stake a portion of her earnings to yield farming, but she was phished, which eventually caused the WhiteBit AML software to get triggered.
Fortunately, the WhiteBit has the particular KYC/AML procedure for such cases, and as a result, she got unblocked.
We kindly ask you to keep an eye out and watch out for the scams. The numerous scams only confirm that DeFi is a great and profitable place to be a part of.
Image by Sammy-Williams from Pixabay