Press Release
Defi Scams – Most Common Scams in the DeFi Space
In the world of Defi, scams are unfortunately all too common. This article looks at popular Defi scams, how they operate, and how to protect yourself.
We’ll also provide tips on what to do if somebody scammed you and how to report a scammer. Finally, we’ll discuss the implications of DeFi scamming and present examples of successful prosecutions.
What Are DeFi Scams, and How Do They Work?
Decentralized Finance (DeFi) is a term that has gained enormous popularity over the years. DeFi is the shift from centralized financial systems to peer-to-peer finance enabled by decentralized technologies built on the Ethereum blockchain.
DeFi promises a more equal and accessible financial system, but it’s still largely unregulated. Lack of regulation has made DeFi a haven for fraudsters, who have plundered millions from unwary consumers.
We can summarize a typical scam in three steps:
- The scammer creates a fake project or impersonates an existing one.
- The scammer promotes the fake project or impersonates the existing one to generate interest and attract users.
- The scammer exits the scam, leaving users with worthless tokens or no access to their funds.
The Most Common Types of DeFi Scams
There are many types of scams in the DeFi sector, but some are more common than others. Let us look into a few of this industry’s most frequent criminal schemes.
Phishing scams
DeFi is not immune to phishing scams. Due to the intricacy of several DeFi protocols, fraudsters have managed to successful target newcomers.
The most common type of phishing scam in the DeFi space is impersonation. This is when a scammer creates a fake website or social media account that looks identical to a legitimate one.
They will then use this fake account to try and trick users into sending them money or personal information. Another common type of DeFi scam is the Ponzi scheme. Instead of investing the money, the fraudster pays out previous investors.
This scam is widespread in the DeFi space, as there are often high returns from investing in new protocols.
Scams Involving Fake or Stolen Identities
One of the most common scams in the Defi space is identity theft. Someone uses your personal information to register a new account or access an existing one.
They may also use your information to apply for credit cards or loans or to make purchases in your name.
Another way that identity theft can occur is when someone steals your private key or recovery phrase. This gives them access to your accounts and allows them to make changes or send funds without your permission.
Pump and Dump Schemes
If you are not new to the field of financial investments, then you must have probably heard about pump-and-dump schemes.
A group conspires to acquire a cryptocurrency at the same moment to drive up its price. Afterward, it sells it when at the peak price after promising a group of traders that this would not happen.
Pumpers make a profit, whereas dumpers lose. Sadly, it’s as simple as that. Pump and dump schemes are not new and have been around for quite some time. They are so common that the U.S. Securities and Exchange Commission has issued an investor alert about them.
Forgery and Counterfeiting of Digital Assets
Unfortunately, not every project in the DeFi world is legitimate and original. Forgery and counterfeiting are rampant, with scammers selling digital assets that don’t exist or aim to look like something else.
This scam generally happens when someone creates a website or social media account that looks identical to a legitimate project. However, the page has slight changes that allow the scammer to redirect funds to their wallet.
For example, a scam on Twitter happened when someone created a fake version of the popular Defi project Uniswap. The account looked identical to the official one, except that it had one letter changed in the URL.
This small change allowed the scammer to siphon over $150,000 worth of Ether (ETH) from unsuspecting users.
Fraudulent Activities Associated with Initial Coin Offerings (ICOs)
Last but not least, ICOs tend to have an association with fraudulent activities. In an ICO, a company offers digital tokens for investors’ fiat currency or cryptocurrency. However, many ICOs are scams, with companies using the funds raised to enrich themselves instead of developing the project.
A severe fraud associated with ICOs is when the team behind the project absconds with the funds. This type of fraud is, technically, an “exit scam.”
In an exit scam, the team often creates a fake project website and whitepaper, promising huge returns to investors. They will then raise money from unsuspecting investors and make off the cash, leaving investors high and dry.
How to Protect Yourself from DeFi Scams
At this point, you will probably be wondering how you can protect yourself from falling into one of these scams. Below are a few tips.
- Do your research: This is the most important thing you can do. When you are looking at a project, make sure to read up on it as much as possible. Look at the team’s backgrounds and the project’s roadmap, and try to find as much information as possible.
- Don’t invest more than you can afford to lose: This general rule applies to all investments, but it is essential in the DeFi space. These projects are still very new, and there is a lot of uncertainty surrounding them. As such, you should only invest an amount you are comfortable losing.
- Beware of social media scams: Social media is a great way to stay up-to-date on all the latest news in the crypto world. However, it is also an excellent way for scammers to reach many people. Be careful about the links you click on and the information you trust.
- Look for projects with KYC and audit certifications: If a project has undergone a KYC (know-your-customer) or audit process, it passed a vetting procedure. This adds an extra security layer and gives you peace of mind. SolidProof, PeckShield, Hacken, and Solidity Finance are popular companies taking care of this aspect.
What to Do If Somebody Scammed You
If you think someone scammed you, there are a few things you can do:
- First, try to resolve the issue with the person or company you believe scammed you. This may be difficult, but it’s always worth a shot.
- Contact your local consumer protection agency if you can’t resolve the issue.
- You can also file a complaint with the Federal Trade Commission (FTC) or the Better Business Bureau (BBB).
- Finally, you can contact a lawyer to discuss your legal options.
How to Report a DeFi Scam
If you think you’ve been the victim of a DeFi scam, consider taking a few actions to report the criminals.
First, report it to the project team or protocol developers if possible. They may help you recover your lost funds or take action to prevent others from being scammed in the future.
You can also report the scam to a crypto exchange or wallet provider. Obviously, this is applicable if you used any of these channels to access the DeFi project. Many of them have fraud departments that can help you get your money back or prevent future scams.
Finally, you can report the scam to law enforcement. This is often a long shot, but it’s worth doing if you’ve lost a significant amount of money.
The Consequences of DeFi Scamming
Besides losing your money, scamming in the DeFi sector has several adverse effects on the industry. For instance, it undermines the trust in decentralized finance protocols and gives scammers free marketing.
When a user falls into a scam, it’s not only the investor who loses money. The whole DeFi industry is negatively affected by it.
Scammed users will likely be more cautious in the future, leading to a decrease in trust in decentralized finance protocols. Using popular DeFi protocols and services, they can reach a larger audience and scam more people. In addition, it gives scammers free marketing.
Examples of Successful DeFi Scam Prosecutions
In recent years, there have been several successful DeFi scam prosecutions. Here are some notable examples:
In 2019, the US Securities and Exchange Commission (SEC) charged a company called EtherDelta with operating an unregistered securities exchange. The Ethereum blockchain-based decentralized exchange EtherDelta enables users to swap ETH and ERC20 tokens.
The SEC alleged that EtherDelta’s founder had illegally profited from the exchange by operating it as an unregistered broker-dealer. Coburn agreed to pay $300,000 in penalties and disgorge nearly $13 million in ill-gotten gains.
In 2020, the CFTC accused My Big Coin Pay, Inc. of running a fraudulent virtual currency operation.
My Big Coin Pay promised investors they could use virtual currency to buy and sell goods and services. However, the CFTC alleged that the company used investor funds to pay for personal expenses, including travel and luxury goods.
The CFTC ordered My Big Coin Pay to pay $6 million and disgorge nearly $360,000 in ill-gotten gains.
These are just a few examples of the many successful DeFi scam prosecutions that have taken place in recent years. These cases show that law enforcement is taking action against DeFi scams. If you have been a victim of a DeFi scam, you should contact a lawyer to discuss your legal options.
The Importance of Verifying Senders and Receivers Before Transferring Funds
One last thing you should consider before transferring funds is verifying both the sender’s and receiver’s addresses. Too many people have fallen victim to scams because they didn’t confirm the address before sending funds.
If you’re not sure how to verify an address, here are a few tips:
- Check if the address is valid on Ethereum’s leading network. You can do this by pasting the address into a block explorer like EtherScan.
- Make sure the address has a balance. If it doesn’t, that could be a sign that it’s not a valid address.
- If you’re sending funds to an exchange, check if the exchange has a page on EtherScan. If it does, compare the addresses to make sure they match.
These are just a few of the many ways you can verify an address. By taking these extra steps, you can help protect yourself from scams.
Bottom Line – Protecting Yourself from DeFi Scams Takes Education and Awareness
The best way to protect yourself from DeFi scams is to educate yourself and stay aware of the latest scams. Understanding how these scams work can help protect yourself and your hard-earned money.
Contact a lawyer to discuss your options if you think you may have been a victim of a DeFi scam. There were case
Press Release
HODL 2025 opens in Dubai, advancing the Emirates’ position as a global financial innovation hub

HODL 2025, organised by Trescon, the world’s longest-running Web3 event, officially opened today at Madinat Jumeirah, Dubai, marking a pivotal moment in the evolution of blockchain and decentralized finance (DeFi).
The prestigious two-day event follows the Dubai FinTech Summit that commenced on 12th May. During the Summit’s opening ceremony, His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC), announced the launch of the inaugural Dubai Future Finance Week, scheduled for 2026. This flagship initiative will bring together major financial events—including Dubai FinTech Summit, Future Sustainability Forum, Private Capital Forum, Seamless Middle East, HODL Summit, and Dubai Future District Fund AGM—under a unified theme: “Pioneering tomorrow’s financial landscape: Innovation, sustainability, and global connectivity.”
“Being part of the upcoming Dubai Future Finance Week reflects our commitment to fostering innovation and collaboration in the Web3 space,” said Mohammed Saleem, Founder & Chairman, Trescon. “We are proud to contribute to Dubai’s vision of becoming a global financial powerhouse.”

Crypto Rulebook: Toward Global Standards
A day 1 highlight was the expert panel “Crypto rulebook: Global best practices and regulatory measures”, moderated by Saqr Ereiqat, Secretary General, Dubai Digital Asset Association. Speakers included:
- Dyma Budorin, CEO, Hacken
- Samir Safar-Aly, MENA FinTech Association
- Erwin Voloder, European Blockchain Association
- Belal Jassoma, DMCC
“We want to have the best ecosystem for entrepreneurs to run their business.” — Dyma Budorin
“Regulations need to catch up and work together.” — Samir Safar-Aly
The discussion emphasized the need for global regulatory coherence and innovation-friendly compliance frameworks.

Insuring Web3: A $6 Trillion Opportunity
Another standout session, “Insuring the Future of Crypto: Bridging Risk & Innovation in the Digital Asset Economy”, spotlighted the crucial role of insurance in de-risking digital finance.
“Insurance has been a bedrock component of sustainability; it is a $6 trillion market.” — Joseph Ziolkowski
The panel explored how risk-aligned insurance solutions are key to unlocking institutional trust and long-term ecosystem resilience.
During his session, Cristian Ulloa, Co-Founder & CEO of Liquid Loans, Platinum sponsor of HODL 2025, shared valuable strategies for building wealth in crypto while steering clear of common pitfalls that lead to crypto regret.
Global Leaders on the HODL Stage
Day 1 also featured other prominent speakers sharing insights across DeFi, tokenisation, compliance, and blockchain banking including:
- Corbin Fraser, CEO, Bitcoin.com
- Nils Andersen-Röed, Global Head of FIU, Binance
- Gracy Chen, CEO, Bitget
- Rifad Mahasneh, CEO MENA, OKX
- Robert Crossley, Global Head, Franklin Templeton
- Joseph Ziolkowski, CEO, Relm Insurance
View the full speaker lineup and agenda:
Ecosystem Support: HODL 2025 @ponsors and exhibitors
Sponsors:
Platinum: Liquid Loans.io
After Party: Coinvoyage
Gold: Tata Consultancy Services (TCS), Gofaizen & Sherle
Silver: Facephi
Bronze: Skygate Network, FMCPay, Pays Solutions, PEP
Exhibitors: SWAG42, Thesaurum, Travel Swap, Any2Pay
Startup Pods: Scintilla, Boston Trading Co, Ace Capital, vbanq
Top Media Partners Covering HODL 2025
HODL 2025 is proudly backed by leading media outlets amplifying its global reach:
- Official Media Partner: CNN Business Arabic
- Exclusive Media Partner: Khaleej Times
- Ecosystem Partner: Entrepreneur Middle East
- Business Media Partner: Arabian Business
- Digital PR Partner: ZEX PR Wire
These partnerships ensure HODL 2025 headlines the conversation on Web3, innovation, and the decentralised future.
About HODL
HODL, born from the legacy of the iconic World Blockchain Summit (WBS) and organised by Trescon, is the world’s longest running blockchain event series with 29 global editions across cities like Dubai, Singapore, and Bangkok. Since 2017, HODL has served as a platform for blockchain deal-making, innovation, and connecting disruptive projects with investors, enterprises, and governments. Join HODL Dubai on May 14-15, 2025, to engage with industry leaders, explore cutting-edge blockchain developments, and secure your place at the forefront of Web3 innovation.
For more information visit https://hodlsummit.com/
Media Contact:
Shadi Dawy
Shadi@tresconglobal.com
Press Release
Global Crypto Leaders to Converge in Dubai for Historic 30th Edition of HODL

- 5,000+ global leaders, investors, and innovators to gather in Dubai for the world’s longest-running Web3 and crypto summit.
- Agenda spotlights tokenisation, decentralised finance, modular blockchain, and AI-powered infrastructure.
- UAE Regional Round of the Startup World Cup, in partnership with Pegasus Tech Ventures, to offer blockchain start-ups a shot at $1M in investment at global finals.
The landmark 30th edition of the HODL (Formerly World Blockchain Summit), the world’s longest-running Crypto & Web3 Summit series is set to return to Dubai on 14-15 May 2025 at Madinat Jumeirah. HODL will bring together over 5,000 attendees, including policymakers, regulators, institutional investors, technological innovators, and entrepreneurs to drive critical conversations and partnerships shaping the future of decentralised finance, asset tokenisation, and AI-powered infrastructure.
Organised by Trescon and building on the legacy of the World Blockchain Summit, HODL has hosted 29 editions across key global hubs, including Dubai, Singapore, and Bangkok. This milestone event in Dubai cements its position as a leading global platform for blockchain innovation and strategic collaboration.

“HODL has become the definitive platform for blockchain innovation in the Middle East and beyond. This 30th edition marks a turning point as institutional adoption meets breakthrough tech. We’re proud to drive the conversations shaping the future of decentralisation,” said Mohammed Saleem, Founder & Chairman of Trescon.
HODL will spotlight cutting-edge developments driving the crypto and Web3 ecosystem — including real-world asset tokenization, advancements in modular blockchain infrastructure, the next wave of DeFi innovation, evolving regulatory frameworks, and enhanced security protocols for digital assets. These trends are accelerating global momentum toward institutional and enterprise blockchain adoption.
Featuring a powerhouse line-up of speakers including:
- Corbin Fraser, Chief Executive Officer, Bitcoin.com
- Nils Andersen-Röed, Global Head of FIU, Binance
- Gracy Chen, Chief Executive Officer, Bitget
- Rifad Mahasneh, Chief Executive Officer MENA, OKX
- Robert Crossley, Global Head of Industry and Digital Advisory Services, Franklin Templeton
- Joseph Ziolkowski, Chief Executive officer, Relm Insurance
- Viktor Fischer, Managing Partner, RockawayX
- Vivien Lin, Chief Product Officer, BingX
- Luther Maday, Global Head of Payments, Algorand Foundation
- Dyma Budorin, Co-Founder and Chief Executive Officer, Hacken Click here to see full list of speakers.
“HODL 2025 is where the future of Web3 and crypto innovation takes shape. I am thrilled to collaborate with pioneers shaping this exciting digital revolution,” stated Corbin Fraser, CEO of Bitcoin.com.

Talking about the opportunity, Nils Andersen-Röed, Global Head of FIU at Binance remarked,
“Excited to share insights on blockchain and connect with leaders driving GameFi, NFTs, and Web3 advancements at HODL 2025.“
In a significant development for the region’s innovation landscape, HODL has partnered with Pegasus Tech Ventures to host the UAE Regional Round of the Startup World Cup,
offering emerging blockchain ventures a chance to pitch for a place at the global finals and compete for a $1 million investment. Pegasus has invested in over 260 companies, with 71 exits and 22 IPOs, providing a formidable launchpad for start- up growth.
HODL 2025 provides its attendees unprecedented access to more than 500 institutional investors, creating opportunities for strategic collaborations with
industry leaders, regulatory authorities, enterprise organisations, and government officials. This environment is optimally structured for capital formation, strategic insight development, and institutional partnerships.
Reflecting the growing influence of blockchain in global finance, HODL is backed by leading sponsors and ecosystem partners including:
- Platinum Sponsor – Liquid Loans
- After Party Sponsor- Coinvoyage
- Gold Sponsors – Tata Consultancy Services | Gofaizen & Sherle
- Silver Sponsor – Facephi
- Bronze Sponsors – Skygate Network | FMCPAY | Pays.Solutions | P2P
With the strategic support of over 60 global media and listing partners, participating organisations will achieve significant visibility across international platforms. CNN Business Arabic serves as the Official Media Partner, with Khaleej Times as Exclusive Media Partner, and ZEX PR WIRE as the Official Digital PR Distribution Partner.
For more information, visit: https://hodlsummit.com/dubai2025/ For further enquiries, contact:
Shadi Dawi
Sr. Director – PR, Comms., & Media
M: +971 55 498 4989 | E: shadi@tresconglobal.com
About HODL
HODL, born from the legacy of the iconic World Blockchain Summit (WBS) and organised by Trescon, is the world’s longest-running blockchain event series with 29 global editions across cities like Dubai, Singapore, and Bangkok. Since 2017, HODL has served as a platform for blockchain deal-making, innovation, and connecting disruptive projects with investors, enterprises, and governments.
Join HODL Dubai on May 14-15, 2025, to engage with industry leaders, explore cutting-edge blockchain developments, and secure your place at the forefront of Web3 innovation.
Visit https://hodlsummit.com/dubai2025/ for more details and ticket information.
Press Release
Camp Network, the Autonomous IP Layer 1 Blockchain, Launches its K2 Public Testnet

Following a Successful $30M Fundraise, Camp Launches K2 Public Testnet and Summit Series Campaign
Camp Network today announced the launch of its K2 public testnet for its Autonomous IP Layer 1 blockchain, alongside the Summit Series ecosystem campaign where users can traverse through live applications on Camp.
Summit Series offers users the unique chance to explore and engage with Camp’s growing ecosystem by completing onchain quests through a customized campsite frontend experience. The first set of decentralized apps are live for its Phase 1 launch, with dozens more rolling out in the coming months leading up to Camp’s anticipated mainnet release later this year. Camp’s ecosystem partners collectively reach over 5 million users and creative works, offering contributors a pathway to shape the future of onchain IP.
“We invite the community to join us as we hike toward the mainnet summit,” said James Chi, Co-Founder of Camp Network. “This is a chance to help shape the future of AI-native creativity and onchain IP provenance via live applications on Camp.”
The public testnet follows Camp’s recent $30M in total fundraising, including a Series A round co-led by 1kx and Blockchain Capital. Powered by its Proof of Provenance protocol, Camp enables users to register and tokenize their intellectual property onchain, train and deploy AI agents, and earn transparent, enforceable royalties from downstream usage. Camp’s architecture supports gasless IP registration, automated licensing and isolated execution environments optimized for agent-based workflows. It’s built to serve a new class of developers, creators and AI-native applications.
“The Summit Series kicks off a pivotal first step for our ecosystem partners. Each team has invested an incredible amount of work, and I’m excited for them to showcase what they’ve built to our community and beyond,” said Drew Rasansky, Head of Ecosystem at Camp Network.
Camp Network is more than a blockchain — it’s a foundation for a more equitable internet, where creative work is protected, attributed and monetized transparently. Across any form of IP including art, music, film, data and videos, Camp enables collaboration between human creativity and intelligent systems, all backed by verifiable provenance.
To learn more about Camp Network, visit campnetwork.xyz. To join the Summit Series, visit testnet.campnetwork.xyz
-
Crypto3 years ago
Cardalonia Aiming To Become The Biggest Metaverse Project On Cardano
-
Press Release4 years ago
P2P2C BREAKTHROUGH CREATES A CONNECTION BETWEEN ETM TOKEN AND THE SUPER PROFITABLE MARKET
-
Blockchain5 years ago
WOM Protocol partners with CoinPayments, the world’s largest cryptocurrency payments processor
-
Press Release4 years ago
ETHERSMART DEVELOPER’S VISION MADE FINTECH COMPANY BECOME DUBAI’S TOP DIGITAL BANK
-
Press Release4 years ago
Project Quantum – Decentralised AAA Gaming
-
Blockchain5 years ago
WOM Protocol Recommended by Premier Crypto Analyst as only full featured project for August
-
Press Release4 years ago
ETHERSMART DEVELOPER’S VISION MADE FINTECH COMPANY BECOME DUBAI’S TOP DIGITAL BANK
-
Blockchain5 years ago
1.5 Times More Bitcoin is purchased by Grayscale Than Daily Mined Coins