DF Fintoch is thought to have disappeared with $32 million in funding

DF Fintoch is thought to have disappeared with $32 million in funding

DF Fintoch is a crypto project that promised a daily return of 1% on investment. The project allegedly claimed affiliation with Morgan Stanley, but Morgan Stanley has denied any association with the project. The project also claimed their CEO was an individual called Bob Lambert, while showing a picture of the actor Mike Provenzano.

In May 2023, DF Fintoch disappeared with $32 million of user funds. The project’s website has been taken down and its social media accounts have been deleted. It is believed that the project’s operators have exited the project and taken the funds with them.

This is not the first time that a crypto project has disappeared with user funds. In 2017, the BitConnect project disappeared with over $2 billion of user funds. In 2018, the PlusToken project disappeared with over $3 billion of user funds.

These scams are a reminder that the crypto industry is still in its early stages and there is a lot of risk involved. Investors should only invest in projects that they trust and that have a proven track record.

Funds are reportedly transferred to multiple addresses on Tron/Ethereum and tips are no longer able to withdraw their funds.

Morgan Stanley said in a statement that it used Fintoch‘s trade name and/or trademark without permission and that they do not accept any responsibility for any actions or consequences that may result from the platform.