Beware of DeFi and shiny crypto projects

I live north of the city, by the sea. There are some coastal mountains that create creeks usually dry but with quite a bit of water when it rains, especially at the end of the summer when the hot atmosphere usually evolves into big storms.

Last night we had our first one this summer and it is expected to last for a few days.

Although through the years most of the villages have managed to underground the creeks when they reach urban areas, some of them are still on the surface and when the rain is strong, there are usually some sad episodes with parked cars pulled by the strong water which sometimes end in the sea.

Today I decided to go to the beach for a walk to see the clouds and take some pictures as the light and colors are way different than the ones we have had for the past weeks. As I was shooting, I saw a sailboat crashed in the rocks in the marina.

As I was taking the pictures I thought of DeFI and how some users will end up losing some of their valuable crypto assets as the scams and low secure offers start to appear in the arena now that volume is growing fast.

It is sad but many users just do not understand this game and do not try to get educated before jumping directly into the arena, and then disaster comes.

I wanted to share this Medium post from CryptoWhale showing how some crypto projects have up to 90% or their tokens controlled by just a few wallets. Anyone understands no matter how great the price of a coin or token is performing, if some owners have 90% of the value, they can easily manipulate the market on their benefit with pumps and dumps.

Take a look at it, and make sure you know what you are doing when playing with your hard-earned crypto assets before you lose them all for not understanding the game.