Another Bitcoin scampany got rekt!

[Sanugarid]

I can't believe that on this year that most of ponzi scheme was already exposed, There is still many people that falling for that scheme and that whoooping 722M$ is an insane
amount. I'm too lazy to read the article but it's hard to believe that they still collected 722M for a cloud mining investment compared on many legit ICO run during 2018 to 2019.
What's really happening in crypto world? 

Don't be surprised, people will always be stupid when it comes to money because we aren't taught how to handle it properly in our school days. We really can't blame them though. They've probably met them in person to make it more believable. Most of the investors are probably new too.

That's why we need more strategies and practice for more safety handling of money. Money is very valuable and important. Most of the people are dying just to have money. It is so powerful that it can control someone's action and personality.

So those scammers are doing bad thing just to earn money.

Nothing is impossible with those people, imagine 722M is a huge amount of money. Probably they are so excited of the outcome so they trust easily.

Excitement can also be the cause of loss, so be patient and learn more about money.

[Ailmand]

There had been a lot of mining ponzi scheme and still a lot of people are getting scammed through thia scheme. I hope people will learn how to do their research before investing in any means. If it too good to be true, have a doubt if it is legitimate. I hope more and more of this scam investment aite or company will close down.

[SummerBliss]

Matthew Goettsche, Jobadiah Weeks, and Joseph Abel have all been charged with fraud by US District Court prosecutors regarding their cryptocurrency company, BitClub Network. The three men allegedly used the company as a Ponzi scheme to defraud investors of $722 million.

The company purported to run a Bitcoin mining pool, taking funds from investors for ‘shares’ in the mining profits. Investors’ funds were to be used to purchase mining hardware. Returns to investors were to be based on customary miner rewards and transaction fees earned.

Source link here

Well, well, well. Down goes another ponzi scam!

I remembered last year that someone sent me a message that I should join the Bitclub network. I refused.

He really insisted me that time to join because he was "paid" as promised. He wanted to help me change my life.

Yeah, but deep inside, he wanted me to get "victimized" in another Bitcoin scampany!

Why would I need to join a ponzi like that? Now that these filthy founders got charged for running a Bitcoin ponzi scam, I guess that the guy who sent me a message back then is now "crying" because of his lost money in that scampany.

I just feel sorry for those who have fell for that Bitcoin scampany back then. Lesson learned for you guys.

When will people realize that all the cloud mining pools are nothing but scam. When they don't seem to get the desired results they just flee away with the investor's money. We have seen enough examples of such things. But I liked that new acronym "Scampany" lol. This should be used for any ponzi promoting company. Moreover the way these networks persuade people to join them makes them even more dubious.

[andycarrol]

I can't believe that on this year that most of ponzi scheme was already exposed, There is still many people that falling for that scheme and that whoooping 722M$ is an insane
amount. I'm too lazy to read the article but it's hard to believe that they still collected 722M for a cloud mining investment compared on many legit ICO run during 2018 to 2019.
What's really happening in crypto world? 

Don't be surprised, people will always be stupid when it comes to money because we aren't taught how to handle it properly in our school days. We really can't blame them though. They've probably met them in person to make it more believable. Most of the investors are probably new too.

damn I think after a few years ago lost and not heard again in this forum about Ponzi, but?
I think those who are lazy and do not have the expertise in growing money will be easily trapped by the Ponzi scheme because for them it looks easy to grow money just by placing it there.

[airdnasxela]

Ponzi scheme has been around since before, it's just a good thing that the US Government is taking actions on  things like this. They're arresting ponzi. It's good for cryptocurrency users, the government is preventing them to scam more people. Though it's a pity for those who already got scammed... At least they were able to get arrested. We can't really stop people like this, unless they got busted. That's why should also learn to avoid and not to fall with schemes.

[Reatim]

seems like there are more active movement against this scammers huh?this thread from Africa is contributing good deeds to help victims and to stop scamming in crypto world in their continent

https://bitcointalk.org/index.php?topic=5208657.0

i wish to see many of this kind in following days because scamming is very alarming and victims are losing their hard earned money just because they trust others to have even small profits.

[iram3130]

The problem with crypto ponzi scheme is that there is a higher chance in getting away, we have seen at least 4-5 multi million ponzi schemes this year from different countries and these things are getting crazy every year. If you see something on investing and making referrals then it is definitely a ponzi scheme in the making. Never invest in such things.

[ragavancoin]

This is not first ponzi scam in crypto world there are so many ponzi projects are still active and more will come in the future also we can't stop but we can avoid that ponzi projects with our knowledge before going to invest and I know that the pain if we lose our hard money in ponzi scam because when I lose my first investment in ponzi.


Really you are lucky man not invest in that ponzi scam 😀😀😀😀

[vintages]

Joining Bitcoin mining pools: how much I hated this method of scamming.
Funny enough they don't call it ponzi scheme but mining pools. If people that joined it where not blind enough, they should have seen that they pay old members with the money that new members bring in. There is no mining equipment in any where doing those work. It's always a scam.
I hope those that was scammed learnt their lesson, and help spread the word.

[xZork]

These ponzi projects hit investors' FOMO mentality. Many people have a lot of money but no knowledge of cryptocurrencies, they can easily trust a project when introduced by friends or relatives.
The fraudulent ponzi projects only need to pay for a few people, and then these people will spread the word about the project in their community.
Phishing never disappears in life in general and in the cryptocurrency market in particular, so people should be cautious before making investment decisions.

[DreamStage]

The domain website is still up even tought they got arrested.
Do not know if that information is really legitm or just a fuzz to shut it down anymore.

But if that is really a possibility and a happening i am glad for other scam pronzi company to become shutdown.
As there will be more people getting alerted on such type of scams as well as for the judicial departments.

[boyptc]

I pity the victims here. They never learn from the experience of others telling that never join ponzi or cloud mining investment schemes.

How many times did we ever warned them about it? but only few listened.

[hermawan9416]

No wonder scammers will always be in the crypto industry because there is a lot of money here.

[Eugenar]

I pity the victims here. They never learn from the experience of others telling that never join ponzi or cloud mining investment schemes.

How many times did we ever warned them about it? but only few listened.

I should not be racist here, but I do really think that if we are to attract people to invest in cryptocurrency, we should prioritize young and those that are already used to computers and internet. Because for me, inviting old people or those that aren't really a into computers but with just the mindset of earning profit will just probably end up losing their money to frauds and scams. In this regard, I do really see that young people have the instinct of being observant and aware of their surroundings.

[nicecrypto]

Wow! $722 million is huge some of money this guys have manage to squeeze out of the pocket of innocent people who thought they are investing in a project that can uplift them financially, this is the kind of behavior that makes people to have negative thoughts about crypto,  what terrible thing to do.

[boyptc]

I pity the victims here. They never learn from the experience of others telling that never join ponzi or cloud mining investment schemes.

How many times did we ever warned them about it? but only few listened.

I should not be racist here, but I do really think that if we are to attract people to invest in cryptocurrency, we should prioritize young and those that are already used to computers and internet. Because for me, inviting old people or those that aren't really a into computers but with just the mindset of earning profit will just probably end up losing their money to frauds and scams. In this regard, I do really see that young people have the instinct of being observant and aware of their surroundings.

There are young folks that can also be fooled by these scammers. It's not about the age but it's about the literacy and awareness that they lack. Everyone can be a victim of them but as for us who have experienced it before and listening to the advice of the people who've been in crypto earlier made us flee from those.

Young guys have less experience so they can also be a target of these scammers.

[finaleshot2016]

I pity the victims here. They never learn from the experience of others telling that never join ponzi or cloud mining investment schemes.

How many times did we ever warned them about it? but only few listened.

I should not be racist here, but I do really think that if we are to attract people to invest in cryptocurrency, we should prioritize young and those that are already used to computers and internet. Because for me, inviting old people or those that aren't really a into computers but with just the mindset of earning profit will just probably end up losing their money to frauds and scams. In this regard, I do really see that young people have the instinct of being observant and aware of their surroundings.

There are young folks that can also be fooled by these scammers. It's not about the age but it's about the literacy and awareness that they lack. Everyone can be a victim of them but as for us who have experienced it before and listening to the advice of the people who've been in crypto earlier made us flee from those.

Young guys have less experience so they can also be a target of these scammers.

But most people who are being scammed are the old ones who want to find good profit. I think it's normal for young guys for being scammed since they're on the stage of learnings and most of them are afraid to try things since they're new to technology.

The old ones are often the target of these scammers because they knew that those people have money to be scammed. They will just take advantage of those people who lacks about bitcoin that's why it's better to have an additional course for the new generations to study modern technology. It'll make them aware about it. 

[Mahanton]

I pity the victims here. They never learn from the experience of others telling that never join ponzi or cloud mining investment schemes.

How many times did we ever warned them about it? but only few listened.

I should not be racist here, but I do really think that if we are to attract people to invest in cryptocurrency, we should prioritize young and those that are already used to computers and internet. Because for me, inviting old people or those that aren't really a into computers but with just the mindset of earning profit will just probably end up losing their money to frauds and scams. In this regard, I do really see that young people have the instinct of being observant and aware of their surroundings.

There are young folks that can also be fooled by these scammers. It's not about the age but it's about the literacy and awareness that they lack. Everyone can be a victim of them but as for us who have experienced it before and listening to the advice of the people who've been in crypto earlier made us flee from those.

Young guys have less experience so they can also be a target of these scammers.

But most people who are being scammed are the old ones who want to find good profit. I think it's normal for young guys for being scammed since they're on the stage of learnings and most of them are afraid to try things since they're new to technology.

The old ones are often the target of these scammers because they knew that those people have money to be scammed. They will just take advantage of those people who lacks about bitcoin that's why it's better to have an additional course for the new generations to study modern technology. It'll make them aware about it. 

Integrating it on casual school curriculum then it would still takes time to have some consideration because it will all vary in talks of adoption so we cant still depend on it.
I  can say that its all random when we do talk about age of people who got victimized.I can say that young minds is much more prone to this yet we know that
they are adventurous enough to try up things out of curiosity and been part of a newbie then that carelessness thing is part of it which would result to these kind of common scammed outcomes.

[ene1980]

Why would I need to join a ponzi like that? Now that these filthy founders got charged for running a Bitcoin ponzi scam, I guess that the guy who sent me a message back then is now "crying" because of his lost money in that scampany.

I just feel sorry for those who have fell for that Bitcoin scampany back then. Lesson learned for you guys.

The amount of time they were able to run the scam is mind boggling and no one was able to expose them completely, when ever there was an article against them they would come out and throw some responses and i bet there are many victims in this forum and they are not coming forward right now as i have seen some members vouching for them in the past. Hopefully they get sentenced for life and hopefully all their loot confiscated.

[Slow death]

These ponzi schemes will always continue to exist because they promise what people want most: "make a lot of money in a short time." When a person buys 1 btc, holds it for a long time, the price goes up a lot and then it goes down a lot and that person realizes that the time has passed a lot but the price is still the same as she bought it, and then she looks at an ad that says " invest X bitcoins today and in 30 days you will get a 2X return ". this person will think" if I invest 1 BTC in 30 days I will have 2 BTC, then I will invest 1 BTC again and I will have 2 BTC + 1 BTC of first investment profit I will get 3 BTC in 60 days "