Morgan DF Fintoch, a project that claimed association with Morgan Stanley, has allegedly stolen user funds worth nearly $32 million.

The crypto industry often becomes a lucrative sector for investors consumed with greed and ambitions to get rich quickly. The scammers take advantage of this greed and the sophistication of technology for their malpractices.

Morgan DF Fintoch Exit Scam

The on-chain sleuth ZachXBT tweeted that Morgan DF Fintoch has likely conducted a crypto exit scam and stole 31.6 million USDT. ZachXBT wrote, “Fintoch advertised 1% daily ROI & claimed to be owned by Morgan Stanley.”

Earlier, Morgan Stanley issued a notice informing users that it does not have any affiliation with DF Fintoch.

Moreover, the project faked the identity of the so-called CEO Bob Lambert by using the image of actor Mike Provenzano on its official website.

Morgan DF Fintoch has over 71,000 followers on Twitter and appeared in some well-known publications, such as Yahoo Finance.

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Author: Harsh Notariya

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