CoinShots Logo
DeFi Architect Andre Cronje Dismisses Comeback Rumors; He Says ‘It’s All A Scam’
Andre Cronje, one of the biggest decentralized finance (DeFi) developers, has pushed back against suggestions that he planned to return to the industry.
Himanshu S.
6:52 6th Jun, 2022
Frauds

“I left crypto,” Cronje, creator of DeFi protocols Yearn Finance and Keep3r Network, when asked if he was the character behind a Twitter account with his name posting about his supposed comeback.

“It’s all scams,” retorted the 37-year-old South African coder, whose sudden departure from DeFi in early March after building several high-profile protocols broke many hearts and crashed the prices of the projects he ran.

Fake Twitter account of Andre Cronje

Rumors of Cronje’s return began circulating two weeks ago when he was reportedly spotted on the Github software development platform, working on the Fantom ecosystem’s native fUSD stablecoin, which lost parity to the US dollar.

The rumor helped spark a brief rally in the price of the Fantom Token (FTM), which soared around 20% to $0.42 at a time when the rest of the crypto market saw a huge sell-off thanks in part to the LUNA crash. . At press time, FTM was trading at $0.37, up 0.1% over 24 hours.

On Twitter, an account, @AndreCronje, has been particularly notorious for impersonating Andre Cronje. The account claimed that the DeFi architect was back in crypto, but “building in private.”

The account recounted the alleged reasons behind Cronje’s surprise exit and how “my enemies won”, but “I’ve been able to recharge my batteries and get that old feeling of wanting to put things back together”.

Late in the evening of June 5, he posted a link to a suspicious page, “Beam Finance,” which would allow users to trade different crypto assets. The tweet was later deleted.

The alleged hack account, with 4,500 followers, tricked some of the biggest voices in the crypto space into becoming followers. This included Jose Maria Macedo of Delphi Labs, CNBC host Ran Neuner, CryptoFish, the pseudonymous founder of Avalanche-based Trader Joe, among others.

Considered by some to be the “godfather” of decentralized finance, Andre Cronje is perhaps best known for creating Yearn Finance, whose YFI token rose from $0 to over $40,000 in just a few months.

Source



CoinShots Logo

Social

Get in touch:

© 2022 Coinshots (AtlasZero LLC). All rights reserved.