Passive income has always been an appealing concept, especially in the crypto world where lending platforms offer attractive returns. A few months ago, I came across a platform called YieldEdge, which promised up to 15% annual returns by lending out crypto assets. Their pitch was that borrowers paid high-interest rates, and as a lender, I would share in those profits.

The website seemed professional, showcasing charts, user testimonials, and detailed explanations of how their lending system worked. They claimed to have partnered with reputable exchanges and institutional borrowers. Feeling confident, I transferred $8,000 worth of USDT to their platform to start earning passive income.

At first, everything seemed to work perfectly. My dashboard showed daily interest accrual, and I even received an email summarizing my weekly earnings. However, when I tried to withdraw a portion of my funds after two months, I encountered an issue. The platform claimed there was a “temporary liquidity delay” and that withdrawals would resume after a 14-day period. That seemed plausible, so I waited.

Two weeks turned into a month, and then the platform stopped responding altogether. The website and social media accounts disappeared, and it became clear I had been scammed. They had used the initial payouts and professional communication to build trust, only to run away with everyone’s funds once the platform gained enough traction.

This experience was a harsh reminder to be cautious with lending platforms. Always verify if they are audited and regulated by trusted third parties. Avoid platforms that offer unusually high returns, as they’re often too good to be true. If a project isn’t transparent about its operations, stay far away—it’s not worth the risk.