ZachXBT: Beware of high-risk DeFi protocols and projects that lack credible community support

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ChainCatcher reports that the on-chain detective ZachXBT posted on social media, warning about the following high-risk behaviors:

  1. Depositing funds into newly launched EVM chain forked DeFi protocols, which are typically developed by low-technical teams and may have potential vulnerability risks;
  2. Investing in projects with fewer Kaito smart followers, especially being cautious of projects with fake followers or excessive marketing. These behaviors may lead to financial losses, and users should avoid blindly chasing trends and conduct at least minimal due diligence.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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