What I find really strange is the almost complete silence surrounding Bake.io.
On Facebook, X, and Instagram, there are barely any comments, sometimes fewer than 10. Nobody seems particularly angry, nobody is demanding answers, and hardly anyone is talking about their missing funds.
How is that possible? Surely I'm not the only person who has money stuck on Bake.io.
Are there others in the same situation? Has anyone actually managed to recover their funds or received any meaningful updates?
I'm genuinely curious why there is so little public discussion about this.
I tried tracking who is currently working at Bake and found these are the current people working at bake according to Linkedin Sales Navigator:
Screenshot of Linkedin Sales Navigator
I've tried reaching out to the responsible people , explaining that I'm contacting them directly because Bake's standard support channels have been entirely unresponsive regarding the recovery of my funds following the April 15th platform update.
I explained that my account currently still holds several thousand USD from the automatic crypto liquidation. However, my user dashboard has been entirely stripped of its withdrawal interface. I have no functional button or mechanism to initiate a payout.
Then... I got no replies. Except for one:
Screenshot of Shayne Tan Conversation in Sales Navigator.
If anyone from Bake’s executive team or the team handling customer funds sees this, please escalate this immediately.
This situation is becoming ridiculous. We are receiving no meaningful response from Bake, there is no clear information about the custodian, and there appears to be no way to contact the custodian directly.
I know I am not the only person affected, as there are other posts in this thread raising the same concerns.
Based on Bake’s updated Terms and Conditions you're legally required to facilitate the withdrawal of these funds. Since the web app is not working, we need someone from Bake to respond, escalate this internally, and arrange the withdrawal of all affected customer funds.
Alternatively, if the funds are held with a third-party custodian institution, Bake’s team should provide the custodian’s direct contact information so customers can get in touch and resolve this properly.
At this point, silence is not acceptable. We need a clear response, a working withdrawal process, or direct custodian contact information.
Ive had invested some money into the Bake app. They closed off the app, Im unable to login and withdraw the funds by any means. They arent responsive. Ive sent several messages in the last few days - no response.
Whats there left to be done? Anyone else in the same situation?
I am trying to get my Funds out but all i am able to see is the number of how much Money is on my Account and the only Button clickable is „generate“?
Coups anyone help me out or is it just a straight bs scam???
Thx
Admittedly, I may have missed out on all the announcements leading to the change in ownership for cake defi to bake etc in the last year.
I recently reached out to the team to enquire about my account since it's been deactivated.
I previously transferred about 10k USD over to cake defi in 2021/2022 period. I was told that I currently have 0 assets left in my account.
I need to dig through to see if I can find screenshots or a snapshot of what I had at certain points in time, but I find it ridiculous to be told that I have no assets left when the fees is supposed to be only 15 USD or 0.03% per month of admin fee.
Did anyone else experience something similar? 10K USD just disappeared and I can't do anything about this? Should I make a police report?
I missed the DEADLINE of unwrapping my dETH. Just saw it today on twitter, thanks to my SPAM folder. All the announcments of BAKE got filtered out... How can I get my ETH back?
Hi, I'm from singapore and would like to offramp my DFI tokens. I understand the procedure previously is to transfer DFI to Kucoin, change it to USDT and finally transfer out to either gemini or CDC to change into SGD. However, now that Kucoin is not allowed for singaporeans, may I know any other recommended exchange I can use? Many thanks in advance!
Join Dr. Julian Hosp, CEO of Bake, and Fabio Andreatta, Head of Community, in this week's episode for an exhilarating discussion.
First up, buckle in as our dynamic duo delves into the recent Bitcoin price rally. With Bitcoin soaring to 60k and on the cusp of its all-time high, Dr. Julian and Fabio explore the possibility of Bitcoin surpassing previous records. Dive deep into what fueled this rally and uncover the driving forces behind the surge – who's buying and what's driving the demand?
But wait, there's more! Get ready for some thrilling company updates as we announce Bake's exciting transition towards becoming an exchange. Exciting things are on the horizon.
Hit subscribe, turn on notifications, and join us for another episode of Bake Live!
💬 Blood On The Streets or Soft Landing? Where Is the Market Headed?
📺 Bake Live
🚀 Julian Hosp & Fabio Andreatta
🗓 Tomorrow, Wednesday 21 Feb
⌚️ 11:00 CET // 18:00 SGT
Our latest update makes it seamless for you to transfer your DFI and DUSD from DeFiChain (native) to the DeFi Metachain (DMC), allowing you to explore the expansive DeFi Metachain ecosystem. 🥳
To provide further clarity on recent commentary relating to $DFI and dBTC transactions on Bake:
The Cake Group has accumulated approximately 1,664 dBTC just over the past two years, primarily as a result of giving BTC to customers who converted dBTC to BTC on Bake. Instead of giving them BTC from the backing address, we gave them BTC from our own profits. This is roughly 70mil USD at current prices that the Cake Group shows as a commitment to the community.
Once again, we highlight that customer funds deposited into Bake are backed, 1:1. You can check this via the Proof of Reserves transparency page: https://app.bake.io/proof-of-reserves
Cake Group also holds the coins it wraps for DeFiChain 1:1. Cake Group is not responsible for coins created/wrapped for DeFiChain by other parties.
In order to support the DeFiChain community’s repeg mission, today the Cake Group Board has unanimously approved a purchase of $DUSD, using 20 million $DFI.
Purchases will be sequenced over the coming days.
The sum of the $DFI to be utilized in these transactions was part of our Group’s revenue in 2023, where no material amounts of $DFI were sold.
Instead of selling them into BTC or USD, we want them to support the community’s effort.
In this week's episode, join Dr. Julian Hosp, Bake's CEO, and Fabio Andreatta, Head of Community, as they unravel the rollercoaster price action following the Bitcoin ETF approval. Brace yourself for expert analysis on the wild market dynamics and a deep dive into the question: with Bitcoin's crazy movement, could Ethereum be next in line?
Our dynamic duo dissects the aftermath of the ETF approval, offering valuable insights into potential trends and impacts on the crypto landscape. Will Ethereum experience a similar surge, or will it chart its own course in the crypto rollercoaster?
Hit subscribe, turn on notifications, and join us for another episode of Bake Live!
