TrustyFi

Weekly Update from TrustyFi: June 18, 2024👇🏻 Hello everyone, here we are back with our weekly update. This week our team has performed this key actions: ✅ We are building our official discord server. ✅ We have reached out to a lot of interesting protocols for partnership. ✅ We are talking with some launchpads and MM to organize our private and public sale. These were the most important events for this week. See you soon! -- TrustyFi team

TrustyFi Early Adopters Program! 🚀 Exciting news for all DeFi protocols out there… We are about to launch TrustyFi beta and have prepared a special offer for all protocols looking to onboard first on our platform. What's in it for you: ✅ We create your account and offer you VIP assistance. ✅ We give you TrustyFi standard plan for FREE. ✅ We reward users of your protocol who leave verified reviews with our token. If you're interested or have contacts with interested protocols, please contact https://lnkd.in/gyDcdF4S

Weekly update from TrustyFi: May 28, 2024 If you have followed us on social media these days, you will have seen a lot of movement, but let's shed some light on the main events of these days: ✅ We are officially based in United Arab Emirates, RAK DAO Free Zone. ✅ We launched the "TrustyFi Community" telegram group where all those who want a safer and more trusted web 3 have a meeting point (here the link: https://t.me/trustyfi) ✅ We launched the first "TrustyFi Thread Contest" here is the link to the tweet with all the information: https://lnkd.in/dpDdtFZd These were the most important events for this week. See you soon! -- TrustyFi team

Weekly update from TrustyFi: May 15, 2024 Here at TrustyFi there is pure excitement in the air! These are the most important steps of the past few days: We are incredibly close to 1,500 followers on X, the community is expanding rapidly and this gives us strength and energy to continue growing The telegram channel is also growing (if you haven't joined yet, you can find the link here: https:// thttps://lnkd.in/d7VNkzy9) and we are almost at 100 members, an important milestone for us! And especially... ...we launched the TrustyFi Ambassador Program (find the info here: https://lnkd.in/dvepw7Su) and received many applications. This really makes us believe that people want a more secure and trusted web3. These were the most important events for this week. See you soon! -- TrustyFi team

Exciting News from TrustyFi! We're thrilled to announce the launch of our TrustyFi Ambassador Program! Join us as a brand ambassador to promote transparency and innovation within the DeFi ecosystem. What's in It for You? Earn between $100 and $1,000 in TRST tokens! Exclusive access to TrustyFi private sales and beta releases. Opportunities for further roles within TrustyFi post-launch. Ambassador Activities: Engage with our community on X (formerly Twitter) and Telegram. Create and share educational content weekly. Foster collaborations and host engaging DeFi events. Apply by June 15, 2024: https://lnkd.in/dQ3PuFZd For a full overview of the program, rewards, and responsibilities, check out our detailed article on Medium! Read more here: https://lnkd.in/dwy73g42 Questions? DM https://lnkd.in/dY5Epk94 on Telegram. Stay Connected: Website: https://trustyfi.io Twitter: https://lnkd.in/dtgqzNjd Telegram: https://lnkd.in/d-dEZfK7 LinkedIn: https://lnkd.in/dr35TH_N We can’t wait to welcome you into our ambassador community! #TrustyFi #DeFi #Web3 #TrustyFiAmbassadorProgram

The war on DeFi has begun ⚔️ The U.S. Securities and Exchange Commission (SEC) is stepping up its game against the crypto industry. Last year alone, there were 46 enforcement actions against crypto entities — an unprecedented number. Now, the SEC has set its sights on a new target: Uniswap. A Wells Notice has been issued to Uniswap. This notice is the SEC’s way of signaling that it has found potential violations of securities laws, which often precedes formal legal charges. Ironically, the term “Wells” here is anything but well — it’s a harbinger of turbulent times ahead. In response to the notice, Uniswap’s native token ($UNI) has fallen by 18%. Milk Road’s Take: While regulation and clear rules are necessary for safe investment in crypto, the SEC, under Gary Gensler’s leadership, appears to be as stringent as a 5th-grade hall monitor. If major players in the industry are consistently hit with hefty fines or forced to halt their projects, it could deter companies and venture capitalists from investing in crypto, or even drive them out of U.S. markets entirely. And it seems this is just the beginning. Last September, the SEC warned that it had more actions planned against the crypto industry, particularly targeting DeFi projects. Buckle up, folks — the War on #DeFi is upon us. And TrustyFi is here to bring security and trust to the industry.  — TrustyFi Team

#5 A Scam Story: Africrypt Africrypt stands out as one of the most dramatic and impactful scams in the cryptocurrency world. Founded by Ameer and Raees Cajee, two young brothers in South Africa, Africrypt was positioned as a cutting-edge investment platform that leveraged advanced trading algorithms to maximize returns. However, the operation culminated in a massive scam, leading to the disappearance of an estimated $3.6 billion in Bitcoin, one of the largest amounts in crypto fraud history. The Rise of Africrypt Launched in 2019, Africrypt attracted investors with the promise of substantial profits through cryptocurrency trading. The Cajee brothers boasted of their proprietary trading system that purportedly minimized risk while delivering high returns. Their offer attracted wealthy individuals and institutional investors, allured by the prospects of engaging in the lucrative crypto market with supposed experts. The platform gained credibility quickly, thanks to the sophisticated appearance of its operations and the founders' active engagement with their investor community. Africrypt seemed to be a beacon of innovation and success in the crypto landscape of South Africa, a region experiencing booming interest in digital currencies. The Fall: The Disappearance The unraveling of Africrypt began in April 2021, when the investors received an email claiming that the platform had been hacked but advising them not to report the incident to authorities, as it would slow down the recovery process of the funds. This unusual advice raised suspicions among some investors, who promptly sought legal assistance. It soon emerged that the Cajee brothers had disappeared. Investigations revealed that significant amounts of Bitcoin had been transferred from Africrypt's accounts through tumblers and mixers, services used to obscure the trail of cryptocurrency transactions, making the funds nearly impossible to trace. By the time the fraud was uncovered, the brothers were nowhere to be found, and the vast majority of the funds were missing. Lessons on Transparency and the TrustyFi Perspective The collapse of Africrypt is a stark reminder of the need for transparency and due diligence in the cryptocurrency sector. At TrustyFi, we underscore the importance of transparency, advocating for clear communication and verifiable operations in all Web3 projects. We believe that promoting these values is crucial to preventing similar occurrences in the future. Africrypt's case also highlights the importance of regulatory oversight and investor education. TrustyFi is committed to providing resources that help investors understand the risks associated with cryptocurrency investments and the importance of regulatory compliance. The Africrypt incident teaches us the value of skepticism and the need for a vigilant, informed investor community. --- TrustyFi Team

Weekly update from TrustyFi: May 06, 2024 👇🏻 Another month has started and we want to make it an important month to make web 3 a more and safer place. Here's what I've been doing over the past few days: ✅ We have reached (and surpassed) 1,000 followers on our X community, a small milestone of which we are very proud. ✅ We started making custom offers to early adopters of our service: DeFi protocols with visionary founders (if you are one of these, feel free to contact us) These were the most important events for this week.  See you soon!   -- TrustyFi team

#4 A Scam Story: Thodex The case of Thodex, a once-prominent Turkish cryptocurrency exchange, serves as a chilling reminder of the volatility and risks associated with the burgeoning Web3 sector. (Feel free to retweet this content to raise awareness of the risks of Web3 scams and the need for greater transparency and trust 🤝) The Rise of Thodex Thodex was launched in 2017, capitalizing on the growing interest in cryptocurrencies in Turkey and globally. The platform quickly gained popularity, offering a range of cryptocurrencies for trading and promising high levels of security and low transaction fees. As the user base grew, Thodex expanded its services, adding more coins and enhancing its technological infrastructure to attract international users. In early 2021, Thodex announced a promotional campaign offering millions of free Dogecoins to new registrants, significantly boosting its user numbers. This marketing strategy was successful in drawing a large number of investors to the platform, elevating its profile within the crypto community. The Fall: Disappearance and Discovery The downfall of Thodex was as dramatic as its rise. In April 2021, the platform abruptly halted trading, citing an unspecified partnership transaction that required several days to complete. However, as hours turned into days, it became apparent that something was amiss. Reports surfaced that Faruk Fatih Özer had fled Turkey, taking with him an estimated $2 billion worth of crypto assets belonging to Thodex's 400,000 users. The Turkish authorities launched an international manhunt for Özer, issuing a red notice through Interpol. The scandal exposed significant regulatory gaps in the Turkish cryptocurrency market and raised questions about the efficacy of international cooperation in tackling crypto-related crimes. Lessons on Transparency and the TrustyFi Perspective The Thodex debacle underscores the critical need for transparency and regulation in the cryptocurrency sector. At TrustyFi, we believe that the foundation of any financial service, especially in the volatile world of Web3, should be built on trust and transparency. We are dedicated to promoting these values by providing our users with comprehensive insights and robust tools to verify the credibility of any Web3 project. This incident also highlights the importance of due diligence and the role of continuous monitoring in protecting investor interests. TrustyFi encourages investors to not only rely on promotional offers but to thoroughly assess the operational integrity and regulatory compliance of any platform. As the Web3 ecosystem continues to evolve, TrustyFi remains committed to enhancing investor awareness and advocating for stronger safeguards against such fraudulent schemes. By learning from these unfortunate events, we can collectively strive for a more secure and transparent digital asset environment. --- TrustyFi Team

Weekly update from TrustyFi: April 29, 2024 👇🏻 We're toiling silently, behind the scenes, to usher in a revolution in the DeFi realm. Here are the key actions we took this week: ✅ Finalized choices for our corporate domicile's legal establishment ✅ Arranged dialogues with founders from diverse projects to gauge their perspectives on our journey and growth prospects from their vantage ✅ Initiated interactions with various protocols to grant them beta access to our platform These were the most important events for this week. See you soon! -- TrustyFi team