An obscure exchange with connections to Justin Sun, WhiteBIT, has sparked concerns after advertising a staggering Annual Percentage Yield (APY) of 24.8% to users depositing Tether (USDT) for a year on its lending platform, Protos reported. 
This rate is five times higher than the average USD money market rate, a glaring red flag for potential investors.
WhiteBIT’s association with Justin Sun, a well-known figure in the cryptocurrency industry, raises further suspicion. …
Read More: Crypto Billionaire Justin Sun’s Huobi-Linked Exchange WhiteBIT Raises Concerns Over Its Lending Platform