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.

[Zoomic]

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.

These victims are usually promised very good jobs, better working condition with a very good pay. The offers are often very enticing and it is very difficult for anyone who is swimming in poverty to say NO to such offer. It is quite unfortunate that they don't get to meet what they bargained for and they end up doing jobs and working for people they ordinarily wouldn't want to do or work for.

I do not blame these human trafficking victims because they just want a better standard of living just like everyone of us. Those that should be held accountable for their actions are those who would see obvious red flags and still jump into scam investments because of greed.

Perpetrators of scam investments of whatever form should be fished out and sanctioned accordingly. These set of people are causing more hardships on their victims.

[Coyster]

These victims are usually promised very good jobs, better working condition with a very good pay. The offers are often very enticing and it is very difficult for anyone who is swimming in poverty to say NO to such offer. It is quite unfortunate that they don't get to meet what they bargained for and they end up doing jobs and working for people they ordinarily wouldn't want to do or work for.

Many of these victims will most likely be immigrants as well, coming from third world countries where they have lost all hope of a good life, such people are quick to jump on employement offers in another country and they do not hesitate to sell everything they have back at home, in order to fund the trip, but they do not know that they are being shipped into forced labor for criminal organizations. It is up to the authorities to ensure that we see less of these things and also up to people to verify every nuance before taking up any job.

[Dewi Aries]

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.

Well that's it, like your opinion where most likely people like that are those who are in desperation in finding work, and this incident also happened in my country where not a few of my citizens were offered jobs that previously looked tempting but in the end it turned out to be nothing more than a trap, and usually this type of work requires them to migrate abroad with sweet promises such as big salaries but in the end when they are there they become slaves who are continuously told to work but do not get paid and this scenario happens for years because access to go home is limited by their employers, this is not much different from working for a syndicate to deceive others, but the difference is the risk is not involving other people as victims.

[BABY SHOES]

This news is on the rise... in my country there have been many victims of illegal human trafficking who were initially offered decent jobs but after getting there they were made slaves for various scams.

New in the local news... You can read and then translate it.

Where some young people were promised crypto admin jobs (I don't know what crypto admin is, it's not explained in detail) but when ordinary people don't know what they are interested in and follow the work there, then what happens he is locked up and only eats 1x a day this is really barbaric ... they are also used as slot admin scams in Myanmar.

[CryptopreneurBrainboss]

You think many people are as enlighten as they look? Listen to them speak and you'll see reasons why scammers are having an easy payday.

People are very easy to fool and they're ready to give you their money when you can make them believe that you don't need it. Altcoins are doing it everyday, new altcoins are stealing people money and more will still invest so is crypto scams all over the internet.

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.

Ignorance that's the excuse they'll be giving but why will someone join an industry and not do his findings to stay updated. The golden rule is, "if it's looking too good to be true, it usually is".

Why will you fall for someone promising you unrealistic profits, sometimes I just feel people getting scam deserve it because they're making the job of the scammers so easy. Scams comes in different approaches but they all have similar things which are unrealistic/high rewards. Stay away from those and you'll be safe from scams

[sunsilk]

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.

These scam hubs are increasing and each country that is involved in this should act on and place them in total judgment so that whoever is behind these scam hubs will be scared and punished.

But maybe like in the movies, the syndicate itself is part of the government or high-ranking officials that are receiving some benefits and commissions from this.

Well, that's just a thought, it could be possible or just a fiction from the movies that we watch.

[Qiubell5]

These victims are usually promised very good jobs, better working condition with a very good pay. The offers are often very enticing and it is very difficult for anyone who is swimming in poverty to say NO to such offer. It is quite unfortunate that they don't get to meet what they bargained for and they end up doing jobs and working for people they ordinarily wouldn't want to do or work for.

and that is a choice they make, by continuing to lie to their victims and that happens because someone wants to change their life to be more decent, without thinking about what will happen in the future, indeed in this case it is difficult to escape from the many unemployed, and that is used as an opportunity to deceive them.

[martinex]

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.

Quite a lot and they do it systematically, Yes. there are so many victims, not to mention the investment mode with the lure of quick profits in just a few weeks, whether in crypto using bots, gold investments or others made by irresponsible companies by marketing their products, active count 1 year and once they have made enough profit, the website channel and others disappear and who knows where.

I think the important point here is why it is difficult to disappear and easy to be fooled where the level of public awareness is still weak and they do not do further checks only trusting the words of friends, close relatives who entered first and have made a profit at the beginning and choosing the type and investment company that has a clear track record before.

[libert19]

One can simply not run out of fools in this world. They are everywhere. That’s why we see many Ponzi schemes popping up one after another. People can’t have enough of them. You know a wise man once said:

“There is a sucker born every minute.

It is probably happening every second now.

Some people get smarter but for one person that does, there are 10 more fools coming in new fresh.

Are there lots of fools in crypto?

The supply is infinite bruh

People are born, they know nothing, they learn lessons from experiences, often this lessons can be costly, then they learn dos/don'ts but can you really blame them?

A good parenting can help to some extent but world is ever changing, there is no know all defence that can protect you all times.

[Unknown Op]

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.

Well that's it, like your opinion where most likely people like that are those who are in desperation in finding work, and this incident also happened in my country where not a few of my citizens were offered jobs that previously looked tempting but in the end it turned out to be nothing more than a trap, and usually this type of work requires them to migrate abroad with sweet promises such as big salaries but in the end when they are there they become slaves who are continuously told to work but do not get paid and this scenario happens for years because access to go home is limited by their employers, this is not much different from working for a syndicate to deceive others, but the difference is the risk is not involving other people as victims.

Yes, many foreign countries agent scam with people. They took extra money, deceived them, and exaggerated the truth. But when a person reaches to the other country, he realizes the  his foolness and after he tries to quit that country. So persona should be aware from that kind of scammers and always do the work with legally and if you will work illegally, he will be in the goal ultimately. But the topic is you should get knowledge of everything and you judge after taking any decision because it will impact on you family also. Take decisions which are in the favour of you mr family and do not take any step that will cause suffer  to your family.

[reagansimms]

The schemes used by fraudsters are very convincing, in some cases they dare to spend capital to attract more victims by giving multiples of what they invest, when in a situation like this sometimes smart people will look stupid because they are obsessed with wanting to get rich the easy way. Being alert and always careful in any investment will reduce the level of greater risk, fraudsters always have a way to introduce their methods that can convince their victims. When it comes to the huge rewards offered, it is not only the stupid people who fall victim, many smart people are also attracted to the offers due to greed and neglect learning.

[Jody.Drummer]

The schemes used by fraudsters are very convincing, in some cases they dare to spend capital to attract more victims by giving multiples of what they invest, when in a situation like this sometimes smart people will look stupid because they are obsessed with wanting to get rich the easy way. Being alert and always careful in any investment will reduce the level of greater risk, fraudsters always have a way to introduce their methods that can convince their victims. When it comes to the huge rewards offered, it is not only the stupid people who fall victim, many smart people are also attracted to the offers due to greed and neglect learning.

Fraudsters will do anything to find their victims, including daring to spend money first before carrying out their evil plans. They must have also considered the benefits they will get, so they will not hesitate to spend money like that. Don't think that fraudsters are stupid people, they are smart people, it's just that they use their intelligence to harm others. Even I myself am sure they are much smarter in this matter. Just imagine when they think about smoothing their plans, it will definitely require a strategy, and they must also know what they have to do in order to attract the interest of the people they will deceive. Moreover, in this crypto space it is more complicated, because they must really understand something related to crypto.

[Ryu_Ar1]

So in this case it is not too strange when a lot of ordinary people make statements that crypto is something negative and always deals with criminals because in the end this kind of thing always exists.
But it needs to be underlined that in the end this is also not the fault of crypto but the fault of the intentions of some people who are not very good and there are so many ordinary people who want to be in crypto but do not understand what they are doing that in the end this is very easy to trick which makes fraudulent schemes like this actually an old way but always successful because there are so many naive people who just want to join the hype but do not understand and do not want to learn what they are doing because the focus is only on the benefits they will have later.

It is quite difficult when changing the view of ordinary people towards commodity assets like this because apart from the situation of people who sometimes don't want to get out of their comfort zone, they also don't want to change their mindset, especially when talking about crypto coupled with some people who justify the means for personal gain, crypto will still be viewed badly by some people, especially for those who are laymen.

[serjent05]

This news is on the rise... in my country there have been many victims of illegal human trafficking who were initially offered decent jobs but after getting there they were made slaves for various scams.

I feel sorry for these people but it was their fault of not validating the claims of the recruiter.  Most of these victims are probably from poor environment.  Since they wanted to get a job without spending to much money for the requirement, they are deceived in taking the offer from these scammers. 

New in the local news... You can read and then translate it.

Where some young people were promised crypto admin jobs (I don't know what crypto admin is, it's not explained in detail) but when ordinary people don't know what they are interested in and follow the work there, then what happens he is locked up and only eats 1x a day this is really barbaric ... they are also used as slot admin scams in Myanmar.

Probably they are informed that they will be managing some services related to crypto.  These scammers are really exploiting the "being naive" of young people, not knowing much about scams and fraud.  I really feel sorry for them (the young people).

So in this case it is not too strange when a lot of ordinary people make statements that crypto is something negative and always deals with criminals because in the end this kind of thing always exists.

It would be biased for them in blaming cryptocurrency, it is the fraudulent people that scammed them, not the Bitcoin or the Ethereum.  Blaming cryptocurrency for the fraudulent action of people who really does not have anything to do with cryptocurrency is like barking at the wrong tree.

But it needs to be underlined that in the end this is also not the fault of crypto but the fault of the intentions of some people who are not very good and there are so many ordinary people who want to be in crypto but do not understand what they are doing that in the end this is very easy to trick which makes fraudulent schemes like this actually an old way but always successful because there are so many naive people who just want to join the hype but do not understand and do not want to learn what they are doing because the focus is only on the benefits they will have later.

I agree  it is not the fault of the cryptocurrency but people who have evil intentions.

[goldkingcoiner]

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.

If something is too good to be true then it's definitely going to be a scam. I don't know why people don't follow this simple saying. Some scams are more intricate and complex than others, but they can easily be spotted, as well.

Trust your gut feeling if it tells you that something is wrong. That really is the best scam detector.

[Alpha Marine]

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.

I don't think I'll call them "fools", but greed is a very big part of what these scammers thrive on. They thrive on the fact people are always looking for ways to make money and get better lives for themselves. They know that when people see these "too good to be true" offers they'll be interested and from there they'll fall for it.
I think a lot of education and awareness still needs to be done in this because it's not looking good at all. I believe if they have this education in general, it will be easier to use it in crypto and be safe, but then again, I don't think it will help much because if you look at the amount of people that invest in memecoins, you'll be surprised. These are educated people who are not gullible but because they believe they can get rich from the next coin, they won't stop and they keep losing money to scammers.


Scammers take different forms these days, not just crime syndicates in the Philippines and Cambodia.  Scammers come in celebrities, YouTubers, and influencers.
We can clearly see how people feel about the celebrity meme coins and lost so much money. I don't think moe that one per cent of the investors made a profit from them, but they still go on.

[Nothingtodo]

Of course, most people act like fools when it comes to investing in cryptocurrencies, especially those who invest all funds together at the same time. Moreover, before investing, one must know well about the various pre-conditions of investment and then invest. But most of the investors invest without knowing the pre-conditions well and thus get the result of investing like a fool.