There are still really a lot of fools when it comes to crypto investment?

[Hamza2424]

As far as cybercrime is concerned such kinds of groups target innocent users in the name of easy money and needy people get trapped and then they trap them into such systems and then use blackmailing to promote and work for them otherwise they threaten their social life.

As they say, there’s no scammer if there are no victims. If people can’t educate themselves, then government intervention is needed, and that should be possible if the government weren’t so corrupt but in the case of poor countries, most of them, we know corruption is rampant like it has become a normal thing.

Yup agreed.

I won't dare to comment anything in the favour of any under-develop country about the corruption, Here in my own country the AML, and Anti-corruption Department's heads are super duper corrupt people, there's no merit-based selection favoritism and nepotism are just normalized that there's no accountability for anyone, on top of that TBH people, dont care about it, they are living in their own zome.

In every instance there's the same case study, everything is just ****** up

[Coyster]

Maybe these people were probably offered a different job at first, but when they got to the actual work, it turned out to be a scam. They probably can’t leave anymore because there’s a big syndicate behind it. The pattern seems familiar, kind of like the scenario with POGO here in the Philippines.

It is crazy to think about it, that there are people who are forced to work for a syndicate and scam people online through cryptocurrencies, i don't know if these people knew about this job from the beginning or if they were coaxed into it with no way out for them. I think people who are forced into labor like this are usually desperate people, and it is easy for the bad guys to take advantage of desperation. I hope the law takes its full course on criminals like these and people should learn about these scam tricks and avoid falling for it.

[rhodelmabanal]

Another news again about crypto scams or fraud. According to the report:

US Treasury Sanctions Cambodian Tycoon Over Crypto Fraud and Trafficking Links

I’ll just take the key notes from the news, something like this.

In many cases, this involves convincing victims to invest in virtual currency, or in some cases, over-the-counter foreign exchange schemes, all with the intent of defrauding them of their funds. These scams are largely perpetrated by criminal organizations based in Southeast Asia.

There are still many who fall for these kinds of scams, it really comes down to a lack of knowledge. As they say, it's just easy money or HYIP. Even though regulations are getting tighter, some still manage to slip through, and most of these scams happen in poor countries.

And here's more.

The U.S. Department of the Treasury announced on Thursday that it is sanctioning a “Cambodian tycoon and businesses linked to human trafficking and forced labor in furtherance of cyber and virtual currency scams.” Cambodian businessman Ly Yong Phat, his conglomerate L.Y.P. Group, and several properties, including O-Smach Resort, have been linked to extensive human rights abuses involving trafficked workers forced into labor for online scam centers focused on cryptocurrency fraud.

Maybe these people were probably offered a different job at first, but when they got to the actual work, it turned out to be a scam. They probably can’t leave anymore because there’s a big syndicate behind it. The pattern seems familiar, kind of like the scenario with POGO here in the Philippines.

This is very alarming i hope that the government will take some actions against this kind of scam specially when it is backed by a big syndicate, many innocent people will suffer if this will continue. I believe that there a lot of scam like this in the Philippines i hear it in the news that there are pogo hub there and even some government officials are involved.