A new “exit scam” Morgan DF Fintoch has just been discovered by ZachXBT, who is dubbed the “DeFi detective” in the crypto space. In a Twitter post, ZachXBT showed a diagram that detailed the movement of the funds. Fintoch advertised 1% daily ROI & claimed to be owned by Morgan Stanley
According to ZachXBT, the team behind Morgan DF Fintoch has likely exit scammed with 31.6 million USDT on BSC after the funds were bridged to multiple addresses on Tron Network and Ethereum. Many investors said that they were unable to withdraw money from Fintoch.
ZachXBT also said that the team page on the Fintoch website names “Bobby Lambert” as the CEO but in reality, he does not exist and is a paid actor. “Previously both the Singapore Government and Morgan Stanley issued warnings about this investment scheme”, ZachXBT added.
While the project claims to be owned by Morgan Stanley, Morgan Stanley stated that Fintoch used its trademarks without any authorization and that they do not assume any responsibility for transactions with the company.
This is a warning for all investors. We need to research carefully before investing in any project, especially those that make bold promises about profits and use images of famous people or brands to gain investors’ trust.