DeFi Cred Platform Investigates Decentralized Credit Fraud

The decentralized lending platform Cred said, that cooperates with law enforcement agencies to investigate fraud, led to loss of assets.

According to
media, The balance of Cred assets "had a negative impact", which led to cooperation with law enforcement agencies to investigate the loss of this money. The platform team confirmed the availability of the problem and said, that conducts "internal accounting" of assets to determine the amount of losses.

According to an electronic letter from the company, The CRED adviser advised the platform to temporarily suspend the work of the CredEarn program. As the company said, More information will be provided during the following [Two] Weeks ".

The Uphold trading platform informed its clients, that "I decided to stop relations with Cred". This one means, what will suffer as Cred clients, So uphold, who can no longer be able to transfer crypto acts to Cred from the Uphold wallet and view the Cred balance on the Uphold platform. According to the letter Uphold, Cred can still reimburse crypto assets, Countered to customers, right in the Uphold wallet.

Recall, that last year one of the largest cryptocurrency exchanges Binance concluded
Agreement with Cred. As part of the agreement, Cred transferred some of the ERC20 tokens to the Binance Chain blockchain and became the official supplier of credit solutions in the Defi ecosystem.