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

[Ziskinberg]

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.

[ImThour]

There are still many who fall for these kinds of scams, it really comes down to a lack of knowledge.

Forget Crypto, People without knowledge are getting scammed in the old banking system every single day. Credit Card Scams, Loan Scams, and what not.
Crypto requires a little bit knowledge and safety of your coins which in the normal banking system, a bank does it for you.

It's exactly similar as securing your cash in your wallet or at home from thieves. That's what exactly you have to do for Crypto. Just keep it safe from these E-thieves.

[Rruchi man]

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.

There will always be people who fall for these sorts of scams, especially those who are looking for where and more information on how to invest. Many people are not as informed as you think, and these scams may be very well packaged in a sophisticated manner that it still fools someone who thinks that they know about it.

Even in this forum, someone can be scammed through PM's if they are not cautious about it, that is why newbies are always advised to be careful of the private messages they respond to, the forum is not a social media platform, it is a place for open learning, and for whatever concerns that you have, you could always ask openly for the best engagements. 

[Ziskinberg]

There are still many who fall for these kinds of scams, it really comes down to a lack of knowledge.

Forget Crypto, People without knowledge are getting scammed in the old banking system every single day. Credit Card Scams, Loan Scams, and what not.
Crypto requires a little bit knowledge and safety of your coins which in the normal banking system, a bank does it for you.

It's exactly similar as securing your cash in your wallet or at home from thieves. That's what exactly you have to do for Crypto. Just keep it safe from these E-thieves.

This is different since it’s very common in the crypto space for people without enough knowledge to easily fall for investments that seem too good to be true. Credit card scams and loan scams are another story, but if they also get scammed on those, it’s not shocking they’d get scammed in crypto too.

That’s why the government’s help is really needed to minimize risks by educating people. But that won't happen if the market isn’t fully regulated. In some poor countries, crypto is already regulated, but if people aren’t educated, I’m not sure if their greed is the problem--wanting instant returns --or if crypto is just hard for them to learn.

[Catenaccio]

It's exactly similar as securing your cash in your wallet or at home from thieves. That's what exactly you have to do for Crypto. Just keep it safe from these E-thieves.

Scammers always try to find victims for their scam jobs and their methods are similar but in different working spaces, scammers will adjust their methods a bit. There are basic guides, checklists to help newbies avoiding basic scams.

Cryptocurrency security checklist
Cryptocurrency Scam book
What to know about cryptocurrency and scams

[cryptoaddictchie]

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.

Maybe there are group or exclusive syndicate or kinda of mafia underground with this kind of business circulating along Asian Country. When you mentioned POGO that means youre from Phil. Theres a lot of that in Phil different areas and majority of it are related to some crypto investment fraudulent scam investment too.

Its quite hard for newbies who dont have knowledge with this since the potential reward is probably tempting for them.

[Ziskinberg]

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.

Maybe there are group or exclusive syndicate or kinda of mafia underground with this kind of business circulating along Asian Country. When you mentioned POGO that means youre from Phil. Theres a lot of that in Phil different areas and majority of it are related to some crypto investment fraudulent scam investment too.

Mmm.. that makes sense since this is happening in Asia and in poor countries. They prefer to operate in places where laws aren't strictly enforced, in short, corrupt countries. Sorry to speak badly about my own country, but that’s the reality-corrupt politicians let these kinds of syndicates slip through.

Its quite hard for newbies who dont have knowledge with this since the potential reward is probably tempting for them.

That's why the government needs to strengthen its efforts to educate people about potential investment scams. Without that, this will keep happening over and over because there are many syndicates out there, and they can change their business names anytime they want.

[maran.s]

  If you will allow me, there are serious problems in progress with Bitcoin regarding fraud, but everything is also going hand in hand with global politics. I see Bitcoin as an escape from political corruption. These are all scenarios. Asian scenarios, the Middle East, Europe, Africa, etc. I can give my example in Latin American-Portuguese-Iberian politics. There are really many problems piled up. One of them is a generation of politicians aged 50 to 65 who want everything as it is today. There is an urgent need to expand deeper and longer-lasting structures in Bitcoin and to stop simultaneous fraud processes, initially within favorable democracies. But how can this be stopped with a joint effort? 

[arwin100]

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.


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.

Greed for money push them to decide quickly and they didn't bother to think about if what they are trying to do or spend their money with is a scam. This is why lots of people still got victimized even if we know the actions or methods used are recycled attempts. If people would just stick on their god feel then have this thoughts to verify first on what they see seems appealing to them especially when talking about money for sure that they will not participate on any clear scams.

Scams are widely done globally so I expect that there's a running syndicate operating this schemes so we need to be aware and avoid any possible scams since its important for us not to avail those crazy huge returns they offer to their potential victims so we will not fall in their hands.

[Kelward]

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.

There will always be people who fall for these sorts of scams, especially those who are looking for where and more information on how to invest. Many people are not as informed as you think, and these scams may be very well packaged in a sophisticated manner that it still fools someone who thinks that they know about it.

Even in this forum, someone can be scammed through PM's if they are not cautious about it, that is why newbies are always advised to be careful of the private messages they respond to, the forum is not a social media platform, it is a place for open learning, and for whatever concerns that you have, you could always ask openly for the best engagements. 

Scams have always been part of human history, people try to outsmart and cheat others, now it has become more sophisticated because of the internet. Ignorant people will always fall for scams that is why the act can not stop, as they're becoming more greedy to listen to unrealistic promises to get rich quick they'll always become victims. So to avoid being scammed people must try and be more informed about how the modern scammers operates, don't expect free money from anybody and don't click on links that you're not familiar with. DYOR properly before engaging into business with anybody or entity whether it's online or offline.

[Baofeng]

It happens all the time though, but since crypto has been the latest that criminals have been using, yeah the numbers have been growing in years and there are still individuals that are gullible enough to believe what scammers have been saying and that they are very convince that they will make a lot of money.

But the thing is that in this news, the tycoon has built so much wealth that encompasses crypto.

And who knows, with this bulletin, sooner or later he will get caught and punished by the Cambodian government. Their government is very strict as far as I know so he might not get away with it despite having a lot of money.

[yudi09]

Crypto is vulnerable to fraud if you don't have enough knowledge about it. Therefore, it is better to forget crypto and choose Bitcoin if you want to invest.
Crypto can easily be created by those who have expertise in the field. The number of each crypto created can be infinite. Bitcoin is not like that. The amount cannot be reduced or added from the initial amount.

Bitcoin is a multi-functional digital currency in my opinion. It can be used as a transaction tool and can be used as an investment asset to hedge against fiat currencies.

[shield132]

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.

Workers forced into labour for online scam centres focused on cryptocurrency fraud? No way they are forced to work there. There was a big accident of scam call centres in my country. They were calling to European and American people and were trying to get money from them. They were calling and saying that they were an investment company and were promising very high ROI to people. Sadly, many people become victim of these scams, mostly pensioners. It's a very shameful act and people who were in such call centres have no shame. They might pretend they are forced to work to protect themselves but they actually start work here because they get paid a lot. Imagine thousand of dollars in a poor country, that's how they are paid for scamming people.

[Cryptomultiplier]

Crypto is vulnerable to fraud if you don't have enough knowledge about it. Therefore, it is better to forget crypto and choose Bitcoin if you want to invest.
Crypto can easily be created by those who have expertise in the field. The number of each crypto created can be infinite. Bitcoin is not like that. The amount cannot be reduced or added from the initial amount.

Bitcoin is a multi-functional digital currency in my opinion. It can be used as a transaction tool and can be used as an investment asset to hedge against fiat currencies.

Still, I think knowledge and experience makes one the more wiser when it comes to cryptocurrency and although Bitcoin is the oldest and safest crypto currency by far reaching till date, there are still other cryptos developed for various reasons and the right knowledge will help one take profit during a pump or dump as long as there's enough cash to take the risk.

One can be a fool for long because of the absence of resources to gain the right expertise and that's one reason why Bitcoin being more publicized and more invested in remains the easiest crypto currency option to invest in with much guidance coming from this forum and from those who understand the investment strategies to apply for long term profit.

[Crypt0Gore]

Every crypto experts today are once a fool to crypto, if you know less about crypto you are still considered a fool, even if you don't accept this I am sure you will accept later because every experts have made few mistakes before they get to where they are today.

I have not seen any crypto investors and traders that haven't make some mistakes in this crypto space, if you are one who haven't make any mistakes before then you are not in crypto, you are just starting out as a beginner.

We still have a lot of people that are not into crypto investment yet and these people will make a lot of those foolish mistakes, either they try to learn or not because it is near impossible not to make mistakes with crypto.

Those who seek knowledge have less mistakes to make compare to those who believe that they can handle everything. It is left for beginners to pick a side.

[Despairo]

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.

Nothing new, Cambodia and Philippines now are popular with human trafficking, but not all of them are bad though. Some of my friends do work in Cambodia and Philippines as gambling employees, now their life changes, they can afford to buy expensive thing, sometime I envy to see their life lol.

Am just wondering, does the police and authority in Philippines is weak? means they don't want to catch the criminals because the criminals bribed the police?

[Hewlet]

If you will allow me, there are serious problems in progress with Bitcoin regarding fraud, but everything is also going hand in hand with global politics. I see Bitcoin as an escape from political corruption. These are all scenarios. Asian scenarios, the Middle East, Europe, Africa, etc. I can give my example in Latin American-Portuguese-Iberian politics. There are really many problems piled up. One of them is a generation of politicians aged 50 to 65 who want everything as it is today. There is an urgent need to expand deeper and longer-lasting structures in Bitcoin and to stop simultaneous fraud processes, initially within favorable democracies. But how can this be stopped with a joint effort? 

it's not just in the crypto space. A lot of people easily fall for scams and schemes with promises of good returns in the future because they lack basic knowledge of the industry and just assume they can become suddenly smart and benefit from a new and promising investment. The methord that's now more rampant that's used to convince victim to invest in a project is majorly the use of celebrity or public figures to promote certain project and vaulnaurable people will ignorantly buy those coin because of who is projected as the pioneer of the project.

It's no longer easy to trust any new crypto project that's created  at this range of time because most of them lack authenticity and are basically created to just last for few moment after which it dumps and all those that invested In it looses thier money automatically. Apart from Bitcoin, any other crypto you're for any reason interested in investing into should be followed with caution and proper research is to be done prio to the execution of the investment or else, you end up investing and losing all your money.

[Hamza2424]

There are still many who fall for these kinds of scams, it really comes down to a lack of knowledge.

Forget Crypto, People without knowledge are getting scammed in the old banking system every single day. Credit Card Scams, Loan Scams, and what not.

Hmm, TBH in such cases most of the time information is obfuscated. Still, these days when we go the banks or any other financial institute while availing any service they provide a 5 to 6 pages manual with some information written in this kind of format and honestly 99% people don't read the full manual as who cares. They actually hide information in between that complex text.

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.

[dificanovi]

The fraud was clearly carried out by someone who was very good at talking so that everyone who listened would believe the liar's words. At this time, fraud has often occurred and is also often shown on television, we should often watch the news so that we gain knowledge about all kinds of fraud that often occur, one of which is trading and investing in cryptocurrencies. If someone invites you to trade or invest in one of the cryptocurrencies but you don't know the person, it would be better for you to immediately avoid them. If we invest or trade in cryptocurrencies, it is better for us to explore and learn about the cryptocurrency so that we avoid unofficial cryptocurrencies or cryptocurrencies that have no value in the future.

[KiaKia]

Poverty is a big disease in the sense that it can easily blind anyone, once you are poor you will be opened to any thing, you will want to get out of your current situation by all means, either through scam or shady business, if it pays then nothing else matters..

For someone who has eaten breakfast today, they won't have the same mindset as someone who hasn't eaten anything today, HYIP can be very much confusing for someone who is suffering, I've been there and i know how it feels, not a pleasant position to be.

Still, all we can keep doing is advising vulnerable people, it is always the poor people that fall for HYIP the most, when an offer is too good to be true then do not patronize it, the poor will have a hard time getting over this, but I am sure that the wise ones will learn from their mistakes.