Is Yearn.finance (YFI) Scam?

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Mrcoin

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Yearn.finance (YFI) is well-known as one of the biggest platforms in the DeFi ecosystem or whether it could be scam. There are some rumors on the Internet accusing YFI of stealing users' money. What happened? Let us help you to discover this token before investing.​

Yearn.finance asks users private keys then steals their money?​

Many crypto users had been accused of Yearn.finance tricking visitors into sharing the private keys of their cryptocurrency wallets. However, we find out it is a fake website of Yearn Finance perfectly copies almost every aspect of the original yearn.finance website down to its design, website copy and even domain name. The scammers behind the website chose the domain name “yaerm.finance,” making it look extremely similar to “yearn.finace.”

They have also promoted their landing page for the search keyword “yearn finance” so it shows up on top of the search results when people search for the actual real website.



Once a user clicks the ad, it directs them to the yaerm.finance page that looks exactly like Yearn Finance’s official website. However, after scrolling down from the first window that appears, one finds that the website contains a strange guide to "seven easy hairstyles."

Similar to the original website, the scam website also has six different options in the first window. These include Dashboard, Vaults, Earn, Zap, Cover and Stats.​

Yearn.finance token suffered and lost their coins worth $11.1 million.​



In 2021, the token suffered a substantial setback after a DAI lending pool was exploited — with a vault losing stablecoins worth $11.1 million. After the tragic happened, YFI rapidly plummeted from $34,716.39 to $30,231.13 – a fall of 12.9%.
Curve Finance’s CEO Michael Egorov alleged “ “I've expressed my thoughts to the team how this could have been prevented (and similar vulnerabilities, too.) But honestly, I didn't expect them to have such a mistake in the code, that was a surprise to me.”

Do you think Yearn.finance being accused as scam is just misleading information or the truth? Please feel free to write it down in the comment box below.
 

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