US regulators called the Defi Yieldtrust.ai platform as a pyramid - Bits Media

Financial regulators of several US states at once issued a warning about that, that the Yieldtrust.ai trading platform has all the signs of the Ponzi scheme, and banned the work of the application in their states.

Under the relevant statement, Montana regulators signed up, Texas and Alabams. They accused Yieldtrust.ai's platform and its Romanian founder Stefan Chiopragu (Stefan Ciopraga) In fraud.

The developers of the platform and the Yieldbot trade decentralized application announced the use of “advanced artificial intelligence”, thanks to which the trading bot can "perform in 70 once more transactions and make a profit in 25 once higher, than any trader ". The platform promised income to 2,2% per day. The regulators emphasized, that there is no evidence of such profitability, as well as the actual existence of a trading bot.

The regulators hired a third-party company for an audit of Yieldbot smart contracts, which work on BNB Smart Chain. According to auditors, Smart contracts can be called "dangerous, Since the developers reserved significant control of user means and can block the withdrawal of assets ".

“Artificial intelligence can be an exciting opportunity, But scammers are trying to benefit from the popularity of this technology. They develop high -tech schemes for deceiving investors ", - emphasized the commissar of the regulator Montana Troy Daining (Troy Downing).

The Montana Securities Commission imposed on Yieldtrust.ai a ban on work, and also put fines in the amount $100 000. After that, scammers instantly stopped working on the application, What is confirmed by statistics on the Dappradar portal. They also deleted the Twitter account. but, Unknown, Whether users of the platform were able to withdraw their funds.

Recently reported other such fraud. DAPP developers using AI Harvest Keeper disappeared with user assets. Fraudsters stole around $1 million.