There are too many investment schemes involving cryptocurrencies and it is just sad that many are still being victimized by those High Yield Investment Programs. It is obvious that there is something going on when the return is just too good to be true so people should already be skeptic as to why the returns are so high when in fact we are in a bear market now.
I also observed that even if the people knew that the people behind the HYIP may just run away with their money, they would still invest hoping for a return. Some even stated that it is new so they most likely would pay so they do not care about other people who would invest later on. I'm glad that the fraudsters were caught but someone would just appear again if people wouldn't change this kind of attitude.
Its going to be cyclical in my opinion. As long as there are people who are willing to invest in those so called HYIP, there will still be scammers born every minutes to try and swindle as many unsuspecting victims as they can.
I can attribute to people really wanted to make easy money because this fraudster will sweet talk you with a promise of 10%-30% returns, who wouldn't be entice on that?
Sadly though, those scammers really put a bad name on crypto in general. The greater public is again warn by the government, but I wouldn't be surprise if another scammers pull off a stunt more daring than the previous one.
