Morgan DF Fintoch Accused of "Rugging" $31.6M in an Apparent Exit Scam

Event Description Morgan DF Fintoch, a crypto investment platform, allegedly conducted an exit scam on May 22, 2023, stealing approximately $31.6 million in user funds. The on-chain investigator Zachxbt reported these events on May 24, sparking concerns about the integrity of Morgan DF Fintoch.

Subheading: Fund Movements On-chain data indicates that the funds, mainly consisting of USDT on the BSC, were moved to multiple addresses on the TRON and Ethereum blockchains during the afternoon of May 22. These movements have raised suspicions about the platform, leading to allegations of an exit scam.

Current Status

Following the incident, Morgan DF Fintoch has gone radio silent, leading to further doubts about the platform's activities⁴. The case serves as a cautionary tale for crypto investors about the potential risks involved in the crypto space. Conclusion This incident underscores the need for careful due diligence when investing in crypto platforms. While the full details of the Morgan DF Fintoch incident are still being uncovered, the alleged exit scam represents a significant loss for users of the platform.

(https://www.coinsurges.com/morgan-df-fintoch-goes-radio-silent-after-rugging-31-6m/) ↩ ↩²

(https://www.bitcoininsider.org/article/215668/morgan-df-fintoch-goes-radio-silent-after-rugging-316m) ↩ ↩² ↩³ ↩⁴

(https://recentcoin.com/news/36190-morgan-df-fintoch-goes-radio-silent) ↩ ↩² ↩³ ↩⁴

(https://twitter.com/CryptoSlate/status/1661810864566173700) ↩