Eager traders fall victim to massive losses after early investment in Andre Cronje's unreleased defi project.
Cronje Andre, the creator of Yearn Finance, silently released his 3rd defi protocol, which he named Keep3r network on to GitHub three months ago. The new protocol was uncovered by persons who follow Andre's GitHub or ETH wallet, with Andre having rightly interact with the code from his address.
Major Updates:
- Traders invested in the protocol regardless of the absence of an official launch.
- The public announcement revealed that the project was in the beta phase, yet people invested and suffered losses.
- The network is a decentralized business place for techy job listing supported by its native coin KPR.
- The system is aimed to present manpower-supported cryptocurrency programs gateway to technical labor and tech.
- Employers can also give KPR to those contracted to work from the costs gained by yield farming KPR and ETH on UNI.
A couple of eager investors hastily invested their cash into the system and started transacting the coin on UNI. This made the price to pump from $1 to $2000 before the currency crashed back to less than $100 as Andre relocated the network's contracts while trying the code.
What do you think of Andre's latest protocol and the loss incurred by investors? Let's discuss in the comments.
Source: Cointelegraph.
