DeFi project EMD was Suspected of an Exit Scam Worth $2.5 Million

Kataryna Habeliia September 9, 2020


The organizers of the EOS-based DeFi project EMD allegedly committed an exit scam, embezzling $ 2.5 million in client funds.

This was reported by the Chinese analytical company SlowMist.

According to available information, 780 thousand USDT, 490 thousand EOS, and 56 thousand DFS were withdrawn from the “emeraldmine1” contract. They were credited to the account “sji111111111”. Subsequently, 121 thousand EOS coins were transferred to the ChangeNOW exchanger.

SlowMist added that the EMD contract was changed after the release and urged users not to send cryptocurrency to the project addresses.

PeckShield has discovered that USDT tokens are moving to DeFibox and other platforms.

DeFibox representatives have already contacted SlowMist and other interested companies to provide them with information to detect intruders.

Please avoid scams and invest only in trustable projects!

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