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6 comments
1.0

This Yield.app run by Tim Frost , Justin Wright , Lucas Kiely Jason Corbett is clearly a Ponzi scheme. They take crypto in promising to pay a nice yield and then they trade it.

They make lots of money and keep the difference between what they make and what they pay out. If they loose they close the shop and keep your coin. They operate in Thailand with no licensing in Thailand despite the fact that Thailand has a licensing regime but instead they hide in their offices and have weak offshore registration. Weak to say the least.

Also their metric on how much coin they hold is completely false and misleading. If they were handling fiat though they would be in jail.

Instead they will end up keeping your coin. Buyer beware.

User's recommendation: Yield App scam.

Location: Singapore, Singapore

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#2144469

Lucas Kiely Of YLD Yield App seems to be caught up in this scam of a Ponzi scheme. Yield app has No legit license and Lucas Kiely is the portfolio manager with nothing legitimate behind it.

They take your assets and promise a yield. If they loose it tough luck. Lucas Kiely Would leave on to the next company.

Keeping your money with nobody to complain to. Buyer beware!

#2139962

Yield App YLD run by Tim Frost , Justin Wright , Lucas Kiely Jason Corbett is clearly a Ponzi scheme.

#2129204

Most DeFi projects are scams in that they have no banking license or any relevant license to their activities which as they take deposits and offer fixed returns implies the need fir a banking license and regulatory oversight. Yield App run by Tim Frost, Justin Wright, Lucas Kiely or Kelly have no relevant license to operate where they are which is in Bangkok Thailand. This is not intentionally a scam but effectively can easily become one.

#2128756

Yield App YLD or yield.app is not a scam yet as while they payout all is fine but when they can’t payout it will then be discovered that it is a Ponzi scheme scam. Lucas Kiely, Tim Frost, Justin Wright, Jason Corbett Thailand based operation but not licensed in Thailand. I find this problematic and Yield app could wind up a scam.

#2126490

Yield app is not regulated in any jurisdictions that you can assert your rights as an investor against. They operate from Thailand and not licensed in Thailand. DeFi apps like Yiled app and their YLD token are common scams in the making

#2126108

Yield app looks like a Ponzi scheme which is why Gensler is going after DeFi schemes that’s look like Ponzi schemes. Yield app is just that.

They take money in and promise to pay a high interest rate like a bank but no backup in case they loose the money through their trading strategies. If they loose enough they run off with the rest of your money and close shop.

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