DeFiChain (DFI), a project of crypto company Bake, is trading at an all-time low. Bake, formerly Cake, was co-founded by influencer Julian Hosp. Now Hosp is being accused of scam because of DeFiChain and lawsuits are looming.
DeFiChain (DFI) plummets into the abyss: DFI is currently trading around USD 0.10, an all-time low. DeFiChain owed its earlier successes largely to the advertising of Julian Hosp, who continues to work as CEO of Bake (formerly Cake). The crypto company co-founded by Hosp launched DeFiChain in 2020 and promised investors rosy profit opportunities. On X, critic Lorena B. regularly scrutinizes the events surrounding DeFiChain, Bake and Julian Hosp. Her assessment: Hosp is a scammer – and she provides new evidence of this.
In her weekly review of DeFiChain, Lorena B. points out that trading volumes rose noticeably last week before a price-relevant news item on DFI. Specifically, it is about the withdrawal of Jellyverse, a planned launch on DeFiChain was canceled by the DeFi project. Lorena B. recognizes insider trading in the increased trading shortly before with DFI and the linked alleged stablecoin DUSD and quotes investors who also felt cheated.
There is also news of the legal disputes between Julian Hosp and John Rost. Rost was one of the first investors in what was then Cake, now Bake, and has also announced a class action lawsuit against Julian Hosp and his cronies in the US because of DeFiChain. At the same time, however, Hosp has sued his former friend Rost in Singapore. There was an initial hearing in these proceedings, which also dealt with intimate details (sex and drugs) from Hosp’s life. Rost has since deleted his posts on X about the hearing, but Lorena B. provides a well-informed summary: Not much has happened in court in Singapore so far. Hosp is probably pushing for non-public proceedings and the next hearing is scheduled for April or May.
This is why Julian Hosp is not trusted by DeFiChain either
Hosp would probably also like to remain silent with regard to his previous involvement in the Lyoness pyramid scheme. Lorena B. shows how Julian Hosp tries to delete information about this on the Internet and how he optimized his talents as a salesman at Lyoness. This is in line with our research on Hosp and Lyoness from 2018. Comments about Hosp as a scammer are piling up on social media, partly because of his past at Lyoness and the equally questionable TenX project. The tenor: Hosp is a serial offender and DeFiChain or Bake is the next case.
Conclusion: DeFiChain and DUSD are facing the abyss – Hosp remains silent
Julian Hosp has been the target of harsh criticism for weeks, but the 38-year-old has taken a voluntary break from X and is also keeping quiet on other channels. Meanwhile, investors have had to watch their investments in DeFiChain and DUSD develop towards total loss. It’s good that there are critical observers like Lorena B. who are putting their fingers in the wounds. We ourselves have been following Julian Hosp’s activities in various projects for years and have repeatedly warned against DeFiChain, for example here a year and a half ago.
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