DeFi Project LV Finance Turns Out to Be Exit Scam
Main page News, DeFi, Cryptocurrency
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Sept. 21, 2020

The organizers of the DeFi project LV Finance have allegedly falsified the results of the audits to steal the investors' money, according to the analysis company SlowMist.

The organizers of LV Finance described the project as a "community-owned DeFi ecosystem" based on the Ethereum blockchain.

On September 19, a Twitter user reported he was unable to withdraw his funds from LV Finance. He tried to contact the project through its Telegram channel, however, he was blocked by the administrators of the channel.

According to SlowMist, the project organizers have disappeared shortly after raising funds from users. The official site of the LV Finance project is offline at the moment and the social network accounts of the project have been removed.

There has been a lot of controversy around the EOS-based DeFi project EMD, as some people consider it an exit scam. According to some reports, around 780,000 USDTs, 490,000 EOS tokens and 56,000 DFS tokens were withdrawn from the "emeraldmine1" contract.

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