There Exists DXDY (not dydx) | Is dxdy Scam, Though?

Share IT

Follow us on Google News

Each month, dozens of new cryptocurrencies are released, and these new tokens and coins are accompanied by a series of initial coin offers (ICOs). And with them come scammers.

There Exists Dxdy (Not Dydx) | Is Dxdy Scam, Though?

DXDY finance claims to be the new generation of decentralized exchanges, providing a layer 2 scalability engine and lower transaction rates. DXDY might be falsely promising to be listed on renowned exchanges like hotbit, Binance, and coinbase.

Further, according to a recent confirmation by Peckshield in their Telegram channel, dxdy is falsely claiming to be audited by the Peckshield auditing firm.

Fake Peckshield Audit Report
Fake Peckshield audit report

This prospect might be daunting for a cryptocurrency investor wanting to take advantage of a plethora of fresh investment options while staying protected from fraudulent ICOs and dubious coins and tokens. Even experienced investors may struggle to keep up with the jargon as blockchain and cryptocurrency technology develops at a rapid rate. 

Peckshield Telegram Channel
Peckshield Telegram channel

Binance is one of the few big centralized exchanges to have completed the Layer 2 network integration process. Arbitrum’s network has also been integrated by OKEx. Coinbase has announced intentions to incorporate Polygon’s Layer 2 network, however, the platform has yet to be supported. Coinbase has also stated that it will investigate the Layer 2 networks of Arbitrum, Optimism, and Starkware in the future.

Victims of similar frauds have reported losing their whole crypto portfolios or significant sections of them, as well as their NFT collections.

Share IT
Aadrika Sharma
Aadrika Sharma

I enjoy writing and try to learn new things every passing day!

Get Daily Updates

Crypto News, NFTs and Market Updates

Claim Your Free Trading Guide

Sign up for newsletter below and get your free crypto trading guide.

Can’t find what you’re looking for? Type below and hit enter!