New way to cheat with Bitcoin! be careful

[Chrystora123]

snip..

The Ponzi scheme is not a new product, it has been around for a long time, it's just that the scammers took advantage of Bitcoin this time to launch their action.  During this "PANDEMIC" period, many people started to become interested in cryptocurrencies, especially Bitcoin.  I'm not worried about the members in this forum because it sure won't be easy to get into their trap, what I'm worried about are those out there, who are greedy and easily incited with "big profits and quick profits"..

[yayayo]

That's not cheating in my opinion. That's a pure scam. I think there's no way you would be able to gain 100% in a short term, many of us here already know this kind of scheme.
I'm surprised there's still some scammers who are still using trick to deceive other crypto investors.

ya.ya.yo!

[DrG]

When you visit youtube and read random comments about people having success with a Bitcoin "guru" who teaches people how to trade - that's your scammer right there. For all the great technical analysis that can be done on BTC nobody has shown consistent earnings other than whales moving the market themselves.

The scam listed in the OP is as old as time, all they did was add BTC and cypto buzzwords to attract younger naive people.

[jossiel]

Thanks for the warning. For experienced bitcoin people, we know this trick and it won't work for us. But good for newbies that are reading this, you've been warned. You buy bitcoin in exchanges and you don't need to invest it elsewhere.

Holding it is already a form of investing and you wait until the price goes up. Don't believe with those false high percentage profits, you're about to lose money if you believe them.

[Xinarae*]

Thank you so much for the warning there have been similar scams through Bitcoin before. The register scheme is really very deadly investors are at a disadvantage. That's why we need to review the sites well before trading in Bitcoin greed always brings harm many traders fall prey to this kind of scam after greed. Therefore, without greed you have to start with a small amount of capital and try to know the updated information of the market.

[bitbollo]

I guess that most of us are pretty aware that there is no way to earn 400% instantly from bitcoin... believe that some one or just a legit service can give for free an immediate profit of 400% it's a clear scam.
People that trust this opportunities normally are pretty aware of scam and other fake investments but they want try their luck (or just advertise the service to other people in order to gain referral %).
Another group of people that fall in these traps are totally naive. They don't know how bitcoin work and are easily deceived to "invest" in such type of scam program.

[AjithBtc]

As the market is turning to be bullish people are getting into cryptocurrency for the purpose of investment and trading needs. Even the people who are into stock market trading moving towards cryptocurrency. This might've made more cheaters, scammers to keep track of the people and scam them easily. People try different ways to cheat people, and with cryptocurrency if we aren't active and responsible in taking care of our holdings then it'll be under risk.

[witcher_sense]

thats new . i havent heard whatsapp and instagram being invaded by scammers but its the twitter , facebook and telegram are the ones

It is not surprising at all that scammers sometimes change their target audience. Twitter, Facebook, and Telegram have been used in the cryptocurrency community for years, literally since the inception of bitcoin. Most of the people there are already familiar with the common schemes scammers have employed to take away a piece of hard-earned money from inexperienced and careless newcomers. Whatsapp and Instagram, on the other hand, are rarely used to deceive people, especially when it comes to shady Ponzi-like cryptocurrency schemes. People on given platforms have no idea what bitcoin and crypto is, and how they work, they are thinking of them as magic money, that is why promises of high returns seem real for them. They fall victim because of a lack of understanding.

[The Cryptovator]

Nah, that isn't a new way to cheat with Bitcoin, this is a very old scam method. It has been a long time since this type of scam happening and peoples are spamming via personal messages from various social media. Obviously, those send such as message they are too much greedy and they just need financial gain, doesn't matter if other people lose funds.

Those fall into such a scam they are greedy as well. We always try to become quick rich which isn't possible really. We should remember there is no money-making machine that can multiply your assets. Just use your sense and save your assets.

[ultrloa]

thats new . i havent heard whatsapp and instagram being invaded by scammers but its the twitter , facebook and telegram are the ones

It is not surprising at all that scammers sometimes change their target audience. Twitter, Facebook, and Telegram have been used in the cryptocurrency community for years, literally since the inception of bitcoin. Most of the people there are already familiar with the common schemes scammers have employed to take away a piece of hard-earned money from inexperienced and careless newcomers. Whatsapp and Instagram, on the other hand, are rarely used to deceive people, especially when it comes to shady Ponzi-like cryptocurrency schemes. People on given platforms have no idea what bitcoin and crypto is, and how they work, they are thinking of them as magic money, that is why promises of high returns seem real for them. They fall victim because of a lack of understanding.

I'm much aware about this and mostly I see them up on big social media pages where they can possibly target newbies who's not aware about this and have an idea regarding on forex trading's but doesn't know how to deal with it by themselves. But unfortunately many still get fooled since they think that they can earn with it without doing nothing. Sometimes I blame the saying about let your money work for you since sometimes this mindset came out from the minds of newbies and think about those Ponzi schemes as solution to earn decent money for just waiting their pay outs.

[Boov]

I guess that most of us are pretty aware that there is no way to earn 400% instantly from bitcoin... believe that some one or just a legit service can give for free an immediate profit of 400% it's a clear scam.
People that trust this opportunities normally are pretty aware of scam and other fake investments but they want try their luck (or just advertise the service to other people in order to gain referral %).
Another group of people that fall in these traps are totally naive. They don't know how bitcoin work and are easily deceived to "invest" in such type of scam program.

From the sweet words of immediate profit of 400% there you can already doubt why is that such a big profit offer. From here you can come up on your mind that this might be a scam, that this might be a way of a scammer to attract its victim to fall on their trap. We should be responsible on everything that we do especially if it would cost you. Scammers were scattered out there, just waiting for a victim to trap.

[bakasabo]

This summer I got phone calls from abroad numbers (but people spoke on my native language) with an offer to buy bitcoin mining powers.
That is perhaps a new way to cheat as cheaters went beyond the Internet. Anyone got calls like that?

I did not spoke for a long with them, as I got tired hearing all that numbers of profit and calculations. But now would gladly hear what kind of payment methods they will accept Will they just send me an address via message for deposit or ask for my email?

[error08]

Obviously not a new way.
Even newbies in bitcoin community should aware of this kind of fraud, it's not a matter of newbie or not but how people think rationally.
if something is too good to be true and people have to pay something upfront with the lure of multiple returns, then it's more likely a scam.
Many people fall for another way of fraudulent, such as a scammer impersonate as someone or a website, people who don't check it carefully will be deceived.

[acroman08]

-snip

these HYIP scams are rampant this days on Facebook's comment sections. I even got messaged by three of them saying the same thing. the sad part about it(other than knowing in my country there are still falling for this and even encouraging their relatives to do the same) is that Facebook seems to be slow when dealing with this kind of scam messages on the comment section. I've reported a bunch of them but I still keep seeing them on the same comment section.

[fishbonez11]

What's worst about this scheme is that, an investment agent use this to take advantage of people who are not educated about this activity. This kind of investment scheme is now so rampant in our community, and a large amount of money is being taken from them. For sure, it will come into an end. By the way, this scheme is now running for 3 months by now and still not busted.

Let this be a warning to all of us to not get easily swayed by too good to be true investment.

[budi691]

What I'm worried about is that new people find out about crypto, they will be easily swayed when there is a big gift that makes get rich quick from messages sent, they don't realize it's a scam, surely they will be attracted when there is a 400% profit in Bitcoin, but for people who have known about crypto for a long time, everyone thinks this is nothing new.

[Lucius]

This is not new. This modus is very old, most probably older than Bitcoin itself.

Old methods that target something relatively new such as cryptocurrencies, and completely shift the whole thing into the digital age - which just means that anyone can be a target, whether using a PC, smartphone or smart TV. I just don't see any effective way to fight it except to learn about such things already in primary school as part of mastering basic information skills.

The human mind is pretty naive, because if you ask a person who has been deceived in this way why they agreed to something like that, the answer will mostly be in the sense of something like "the thing seemed legal because it was on the internet", which as a tool is very powerful, but also very dangerous, and unfortunately is taken for granted by most so it becomes a paradise for the whole army of people who have no scruples and who are ready to deceive anyone, even if it was one who will be left without everything he has.

[Yamifoud]

What I'm worried about is that new people find out about crypto, they will be easily swayed when there is a big gift that makes get rich quick from messages sent, they don't realize it's a scam, surely they will be attracted when there is a 400% profit in Bitcoin, but for people who have known about crypto for a long time, everyone thinks this is nothing new.

That their big regrets for sure.
What OP had said isn't new to us, people are aware of this kind of scheme, however, many were still remain ignorant because of money. That is really disappointing to see that still be scammed despite the awareness we brought to the community. if we could see a 400% profit, that is really enticing but wondering what will be the outcomes.

As the number of scammers keeps growing, we should be careful in dealing with someone, especially to strangers. It is a need to make thorough research before investing.

[supine]

No and even as a newbie if you would think about it thoroughly you would know that it is a scam,
400% profit in just a short term? How would that even be possible and how would they pull it off?
Just thinking about it is insane already would you believe in such promise ?
The only reason why people fall for it is due to their greediness and lack of knowledge.

[Jendral Istimewa]

it is an old scam trick, but unfortunately, it works very well and a lot of people are being deceived. the first time I got into bitcoin was because of that promotion, but thank goodness I didn't join them.