Have you ever stopped to ask yourself, "How do they give you such a return on magic internet money?".
For those unaware, staking has been one of the key ingredients for all these scams unravelling. They are pretty much a ponzi, the attractive interests rates that would make Madoff jealous are there to pull people in. It also disincentives those to withdraw too much. Or "lock it in" for a duration of time to give wiggle room to the borrowers in how much bs they can pull behind the scenes.
Like all ponzi schemes what is showing on the magic digital number is not true for most people. When the rugpull comes only a certain amount of people will be able to get all their funds out, with the majority getting a small % out or losing it all.
All this stuff is rubbish, staking a useless token is nonsense and anyone who isn't an early adopter, scam orchestrator, etc will likely be underwater. As most people who have invested in cryptocurrency currently are.
Putting money in at this point in time into crypto is absolutely foolish.
There is still time to get your money out, however much is left. A dollar is a dollar.
BlockFi went bankrupt yesterday and BitFront today. Who's going to be next?
Image from BitFront's website. How do you offer these returns during bad times?
TIP: You can't, they milk as much as they can before the fat lady sings.
