$269 000 USD

JANUARY 2021

GLOBAL

SHARKYIELD

DESCRIPTION OF EVENTS

"SharkYield is a new Yield Farming & Vault project on Binance Smart Chain." On the "SharkYield Farm on Binance Smart Chain", you can "STAKE PANCAKESWAP LP TOKENS" and "EARN FRESH YIELD 24/7."

 

The token reached "[a]ll Time High [on] 30 Jan, 2021." "SharkYield had an all-time high of $0.946771."

 

"Popcornswap, SharkYield, Zap Finance, Tin Finance, Multi Financial - be careful, exit scams." "In a few days, three projects (Zap Finance and Tin Finance, SharkYield) ran away. The current SharkYield ran away is suspected to have taken away 6000 BNB."

SharkYield was another yield farming platform which ended up disappearing after using the smart contract to remove 6,000 BNB. Investors did not get any recovery.

HOW COULD THIS HAVE BEEN PREVENTED?

SharkYield was run by an anonymous individual, and likely a single person of unknown background. The funds were not stored offline, nor in a multi-signature arrangement.

 

Check Our Framework For Safe Secure Exchange Platforms

Sources And Further Reading

 For questions or enquiries, email info@quadrigainitiative.com.

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