A popular ponzi crypto investment website seems exited with 31.6 million profit against the investors.
“Morgan DF Fintoch” is a crypto platform, which provides a 1% return against the crypto investment. On the official website, this platform shows that it has a better team, which has expertise in the financial sector & also in the crypto Defi sector at a big level. Strangely this platform claims that it is owned by Morgan Stanley, which is not the truth.
On 24 May 2023, the popular crypto detective ZachXBT uncovered the scam of this platform and noted that the majority of the customers are failing to get withdrawals. And also noted that on-chain data is showing that the Fintoch platform holds more than 31.6 million worth of USDT.
The investigation also found that “Bobby Lambert” the CEO of this ponzi crypto investment platform is fake information because in reality he does not exist and is a paid actor.
Earlier this, Singapore Government and Morgan Stanley officially announced against this ponzi crypto investment scheme. Morgan Stanley confirmed that they are not affiliated or linked with them and also urged people to remain away from this ponzi investment website.
Investigations also found that the platform mainly targeted people from those areas, where the financial literacy rate is very low.
Such types of scams are a lesson for all Pro & newbie crypto investors and also it is the duty of the old crypto Investors to educate & guide new crypto Investors against scams.
Read Also: Binance faces no charges in the 'Pig Butchering’ Crypto Scam case
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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