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Tronâs primary DeFi project whitelisted what looks like a scam.
The Tron (TRX) community is accusing the Just Foundation of whitelisting a âDeFi projectâ that eventually pulled an exit scam, pocketing about $2 million in TRX tokens.
According to a post on Tronâs subreddit, the foundation created a token whitelist for its Uniswap clone, JustSwap, to curb instances of fraudulent tokens and projects.
The project in question, Tron Supernode, can still be found in the whitelist, even though the website has been completely deactivated as the community reported that withdrawals were disabled.
According to the community, the projectâs Telegram channels and social media accounts were closed even earlier than the website.
The majority of the funds are still available on the DAppâs contract, but there appears to be a whitelist system that will only let certain addresses withdraw. The projectâs users seem to be locked out of their money.
The project collected a total value locked of $2 million in TRX before closing shop.
Some in the community said that it was easy to see that the project was not legitimate. On DappRadar it was listed as âHigh-Risk,â somewhat of a euphemism used by the aggregator to indicate likely scams.
The Just Foundation manages DeFi on Tron, which largely consists of Ethereum (ETH) projects ported one-to-one over to the Tron blockchain. Cointelegraph previously reported that Tronscan had launched a MakerDAO analog. The project was initially called Djed, but was later renamed to Just.
The community is questioning the foundationâs vetting process, especially as it pertains to smart contract analysis. Most DeFi scams can be avoided by analyzing the contract code, which will often feature some sort of minting or whitelisting feature only accessible to the contractâs creators. Given that Just Foundation is launched by the team behind Tronâs block explorer, this should not have been an issue for them.
Representatives from the Tron and Just foundations did not immediately answer Cointelegraphâs inquiries.
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