Oct 2020 - Burn Vault Finance Exit Scam - $455k (Global)
"BVF coin is a digital currency issued at 2020-10-05 based on the Ethereum ERC-20 standard. The total supply is 13,000 pieces, and the block height at the time of issuance is: 10994722."
"A deflationary protocol that allows holders to stake their tokens inside a Burn Vault, which triggers a vault smart contract to burn a certain amount of tokens in the circulating supply."
"Amazing Project is $BVF already trending 2nd Place on Dextool after $CORE" "Jumped into $BVF (Burn Vault Finance) at $35. Good momentum but high risk so be careful." "Maybe a rug pull. But I see it as lottery ticket. Token dynamics too good." "I'm gonna try to ape cautiously if that's possible."
"Burn Vault Finance ($BVF)" "Allegedly rug pulled. Their Telegram and social media no longer exist."
"Damn, looks like $BVF is a rug pull. High risk for possible high rewards, you're going to get these unfortunately."
Further Analysis
Burn Vault was a deflationary staking token which disappeared with investor's funds.
How Could This Have Been Prevented?
More Cryptocurrency Exchange Hacks/Scams/Frauds
AmplyFi.Money Exit Scam > > < < KuCoin Fake Wallet Site
Sources/Further Reading
CipherTrace Cryptocurrency Crime and Anti-Money Laundering Report 2020 (Jun 20)
Burn Vault (BVF) Token Tracker | Etherscan (Jul 12)
Top 10 Bitcoin Scams to Avoid in 2021 - Securities.io (Jul 12)
Newsletter #11 (Jul 12)
@Balou_5569 Twitter (Jul 12)
@StarkRunner Twitter (Jul 12)
@Ladzat Twitter (Jul 12)
@CryptoDefiBoss Twitter (Jul 12)
@BenjaminSulia Twitter (Jul 12)
@TFOC_ Twitter (Jul 12)
BurnVault.Finance (BVF) Token Tracker | Etherscan (Jul 12)
BurnVault.Finance Holders (Jul 12)
What are the dangers of BVF coin? How do I get BVF coin airdrop Crypto? (Jul 12)
@thecryptonator1 Twitter (Jul 12)
@projectmatrix1 Twitter (Jul 12)
List of Defi scams (Jul 12)
12 Defi Con Artists Exposed – Are Rug Pulling Incidents Threatening the Future of Defi ? – Bitcoin worldReport (Jul 24)
Worldwide crypto & NFT rug pulls and scams tracker - Comparitech (Dec 31)
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