Wow, it’s incredibly easy to find negative news about the crypto industry.
The warnings were there as far back as 2016, but an easy buck or FOMO has a way of fogging the eyes… and brain.
The very reason I do’t trade crypto currencies.
It’s a mugs game.
Cheers
Blackduck
This scam has been going since 2014 and is for such an enormous sum of money and the authorities are figuring it out just now. I don’t even know what to say, this shouldn’t be happening.
From the arrested men. Incredible!
From April 2014 through December 2019, the defendants operated BitClub Network, a fraudulent scheme that solicited money from investors in exchange for shares of purported cryptocurrency mining pools and rewarded investors for recruiting new investors. Goettsche, Weeks, and others conspired to solicit investments in BitClub Network by providing false and misleading figures that BitClub investors were told were “bitcoin mining earnings,” purportedly generated by BitClub Network’s bitcoin mining pool. Goettsche discussed with his conspirators that their target audience would be “dumb” investors, referred to them as “sheep,” and said he was “building this whole model on the backs of idiots.” Goettsche directed others to manipulate the figures displayed as “mining earnings” during the course of the conspiracy
https://www.justice.gov/usao-nj/pr/three-men-arrested-722-million-cryptocurrency-fraud-scheme
They even traveled around and marketed the network. That’s pretty brazen, at another level of criminality.
I have long held the opinion that scammers are individuals devoid of empathy - I hesitate to call them sociopaths because I am no doctor - but this just re-affirms that opinion. They don’t view their victims as human beings, nor do they care about the pain they cause.
They care about their wallet and not about people, that’s for certain.
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I agree. Even if the crime is not violent it’s still a crime and still has serious consequences for the victims.