TechFlow reports that on-chain analyst ZachXBT announced on Twitter that the blockchain financial platform Fintoch is suspected of being a Ponzi scheme. According to information, the team behind this project defrauded users of 31.6 million USDT on BNB Chain and bridged the funds to multiple addresses on Tron, Ethereum, and other networks. In addition, users have reported being unable to withdraw their funds.
Fintoch promoted itself as a blockchain financial platform created by Morgan Stanley, promising users a daily return of 1% on investments. However, the CEO "Bobby Lambert" listed on Fintoch's website team page does not actually exist and is instead a paid actor. Previously, both the Singaporean government and Morgan Stanley issued warnings regarding this investment scheme. All these signs indicate that Fintoch may be involved in fraudulent activities, and investors should remain vigilant.
