Crypto’s summer of scams 2023: fake yield aggregators

John Cook
5 min readAug 5, 2023

Dear frontrunners,

A group of anons with NFTs as their PFP and Chinese characters as their discord handle create a “decentralized yield aggregator” on a beta version of an L2 that just launched onto mainnet 90 days ago. The platform offers vaults with 400% APY on USDT, 500% on their native token, 1200% on partner tokens, and 100% on ETH.

Source — Kannagi Finance (Google Cache, original website removed)

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John Cook

Advocate of transparent financial systems & governments that serve the people | Macro, markets & crypto research @ http://frontruncrypto.com