The Corruption of DeFi in 2020

On September 24, 2020, an anonymous author using the handle “crypto_angel” posted an article on Medium entitled “The corruption of defi in 2020” which describes how the current iteration of decentralized finance (a.k.a. “DeFi”) has become corrupted by insiders and crypto influencers who protect those insiders in exchange for information that they can use to enrich themselves at the expense of the people they influence.

I do not know the identity of the author nor do I vouch for the accuracy of any information in the article itself, but I do believe it is raises many important issues worthy of discussion, especially considering the knee-jerk backlash (by some of the same “influencers”) it has already suffered in the few hours since its publication. You can read the article here:

Note that given the frequency with which articles on Medium that are critical of the crypto industry seem to be taken down I have also archived the article below, in case the link above stops working: