Blockchain investigator ZachXBT has recently sounded an alarm for investors, urging caution regarding the ongoing token sale of De.Fi 2.0’s native DEFI token. De.Fi 2.0 is known for its web3 SuperApp and the introduction of the first crypto-antivirus scanner.
The project conducted its initial DEX offering (IDO) in February 2022. According to Crunch Base, DeDotFi, the entity behind De.Fi 2.0 has garnered $1.1 million in funding from significant backers like Huobi Ventures and OKX Blockchain Ventures.
ZachXBT, who gained recognition for exposing a scam involving $4.5 million and 17 SIM swaps, has raised several red flags about De.Fi 2.0. He emphasized that contributors from the initial IDO have yet to receive their DEFI tokens despite the considerable time that has elapsed. ZachXBT also criticized the project for increasing its maximum raise limit multiple times, describing the moves as “non-transparent.” The cap, initially set at $1 million, has been discreetly raised to $3 million.
In addition to these concerns, ZachXBT highlighted the speculative nature of promotional posts from various influencers. These posts suggest that DEFI could achieve “massive 10-100X gains,” a claim that ZachXBT argues lacks objective analysis. De.Fi 2.0 had previously announced plans to launch its DEFI token in 2023, reserving 3% of the total supply for early adopters and supporters. ZachXBT’s warnings serve as a timely reminder for investors to scrutinize the project carefully, emphasizing the need for due diligence over hype.
This is not the first time ZachXBT has called out a blockchain project. Just days ago, he questioned the legitimacy of a $3,999 offer by cryptocurrency influencer Ben Armstrong. Armstrong was selling access to a paid group and an indicator, promising a “verified strategy” for trading. ZachXBT pointed out that if the strategy were as profitable as claimed, Armstrong wouldn’t need to solicit funds from the public, casting doubt on the offering’s credibility.
