According to reports, the Defi-Lending protocol Fintoch is attracting investors for $ 31.6 million

According to reports, the Defi-Lending protocol Fintoch is attracting investors for $ 31.6 million
Fintoch, a decentralized financial protocol (Defi) that offers peer-to-peer credit and investment services (P2P), is undertaken in an obvious exit fraud with cryptocurrencies worth $ 31.6 million from investors.
on Twitter today there were several tweets from Fintoch users who complained that they could not take off their assets, which confirmed the suspicion that the platform had disappeared with the funds of the investors.
Fintoch rug attracts users
famous web3 expert and on-chain-analyst zachxbt announced The carpet pulled on Twitter late Tuesday and indicated that the team behind Fintoch had cheated users on the Binance Smart (BSC).
Zach announced that Fintoch had transferred several addresses in the Tron and Ethereum networks on May 22nd at 12:58 p.m. UTC Tether (USDT) worth 31.6 million. The step of the platform panicked with investors because it explains not to be able to withdraw their assets.
After Fintoch was silent on the topic of payout, several users flocked to the comment area of the last tweet of the platform, which was published on May 23, and demanded an explanation. Users who tried to reach the company via their customer support channel were welcomed with automated answers.
a snowball system?
Fintoch attracted investors with the promise of a daily return of capital (ROI) of 1 % and claimed to be connected to the American multinational investment banking and financial services company Morgan Stanley.
However,Morgan Stanley denied every connection to Fintoch and made it clear that it had no connection to the defi protocol that used its brand without permission. The multinational company distanced itself from any responsibility in connection with transactions or results that would result from Fintoch.
In addition, the Monetary Authority of Singapore (MAS) Fintoch included in its investor Alert List in the early this month. The list contained companies that "may be incorrectly licensed or regarded by the MAS. In the meantime, Zach argued that Bob Lambert, the CEO von Fintoch - as indicated on the platform's website - was not existed and a paid actor.
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