I took out a loan with cryptocurrency, sent 30% of the loan amount as collateral and didnt sign a thing

Hey everyone, its been a while i posted here, but something happened to me recently and i felt like i should share it here.

Last year december, someone messaged me on telegram and after a brief conversation, he told me that he wanted ne to collect a fiat loan from a DEFI lending software on telegram which used eth smartcontracts to facilitate all transaction on the platform. He offered to handover 50% of the loan amount to me.

Apparently, he was in the business of defrauding this Lending Software due to the fact that the users of the software do not need to sign anything and also because the software asks for only 30% of the loan amount you wish to borrow.

Although i didnt believe him because what lending platform would grant you a loan of $5000 and ask for only $1500 as collateral. Also wont its investors lose money due to the fact that some people may not want to repay the loan.

Although i collected a $16000 loan, the question now is will i repay?