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It appears the team behind the ponzi @DFintoch has likely exit scammed with 31.6m USDT on BSC after the funds were bridged to multiple addresses on Tron/Ethereum and
people reported being unable to withdraw
Fintoch advertised 1% daily ROI & claimed to be owned by Morgan Stanley pic.twitter.com/UD3KKfkG97
— ZachXBT (@zachxbt) May 23, 2023
The fund promised a 1% daily interest for investments from users. However, users of the platform have started to report that they are now unable to withdraw their funds from Fintoch.
In addition to this, while the project claims to be owned by Morgan Stanley, the investment banking company, denied any ties with the project through a statement. The firm said that Fintoch used its trademarks without any authorization and said that they do not assume any responsibility for transactions with the company.
The Monetary Authority of Singapore (MAS) also issued an alert against Fintoch earlier in May. According to MAS, the company “may have been wrongly perceived as being licensed or in any other way authorized or regulated by MAS.”
Apart from these, reports back in March suggest that the image used for the CEO of the company, called Bobby Lambert, actually belongs to a paid actor whose real name is Mike Provenzano.
Related: $3M worth of customer funds swiped via alleged Swaprum DEX rug pull
In other news, the Federal Bureau of Investigation (FBI) has issued a warning regarding a recent surge in fraudulent crypto job advertisements. On May 23, the FBI advised United