This cryptomony makes the big 8 and collapses to zero in a few hours – The trap you must avoid
Too much euphoria is never good – Exit scams were common during the ICO madness of 2017. 3 years later, this phenomenon now seems to have spread to the DeFi ecosystem.
DistX is a DeFi ecosystem platform specialised in token presales. Launched last August, it has successfully completed 3 pre-sales, and its DISTX token reached $0.25 at the beginning of September. In addition to these pre-sales, DistX offered its Bitcoin Rush token holders the opportunity to recover up to 2% of the funds raised. But it found itself at the centre of a melodrama, as reported by the media Decrypt.
So far, everything was going well for the project, despite a drop in the price to around $0.07.
However, on 13 December, the founder of the project, Adrian Daluz, announced on Discord that DistX was closing its doors. To justify his choice, he points to the failure of the last fund-raising campaign as well as „family problems“. He added that their tokenomics were „wobbly from the start“.
Despite this, the team has confirmed its willingness to buy back the DISTX tokens available on Uniswap so as not to leave useless and worthless tokens to investors. A sort of curious pump and dump of the last chance, in short.
„Please note that we are not withdrawing any cash and that with the company’s remaining funds (USD 95,000) we will buy DISTX tokens on Uniswap and burn them to help you get more [than zero] out of your investment. »
A very different situation in reality
Despite this announcement, it would appear that the DistX teams did not keep their promise.
Yes, they have! As the scam-hunting group @WaronRugs pointed out, Adrian Daluz has indeed withdrawn the cash present on Uniswap.
He actually paid back ETH 170 to 36 of the 1,662 DISTX token holders, probably friends and family.
Daluz then took the liberty of withdrawing 22 ETH for his personal account, amounting to $12,880.
The consequence was tragic. Within a few hours, the DISTX price dropped to zero. The project went from over $2 million in capitalization to less than $10,000.