A reminder to always be careful with DApps/websites you use

With the recent upgrade from single collateral DAI to multi collateral DAI, there was a scammer preying on those who weren’t careful.

They set up a website/dapp claiming to perform the token upgrade for you. My wallet’s process for doing so wasn’t loading so I searched for a way to do it, and ended up on that scam site. The site looked quite official too, with a decent domain name and all.

I was the first to fall for it, but fortunately only lost about $20. I can live with that - the price for my stupidity. Others who followed me weren’t so lucky. A few unfortunate people lost well over $1000 in the process.

Thankfully the site has since been taken down, and flagged as a scam in a few places.

So just remember to be careful when using third party sites, folks.

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I think I have a couple of DAI, though I forget what they are for. They don’t earn interest, do they/ Or is that another one I’m thinking of?

I’m pretty sure there are places that you can earn interest on DAI, not sure where, and out of the box they don’t.

They are a stable coin and stay pretty close to the USD$1 mark, so they are a good “holding currency” for when other currencies are in a slump. Most of my crypto is usually stored as DAI, and I trade DAI->other currencies when the others are on the rise, and then back to DAI when they fall.

Thankfully at that time I screwed up most of my value was in other currencies and my DAI was low.

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