Cryptocurrency Scam Network Exposed: And $275M Lost.

[DiMarxist]

35,000 Investors Lost their coins worth $275M

I'm posting this here also foe newbies to know that not all the cryptocurrency investment platforms they see in the internet is genuine. You have to verify the platform before you proceed to invest in it. If you don't know the platform and it promising you heaven and earth with good bonuses. Avoid it and only use self custodial wallets for your investment if it is foe long term.

I stumbled on this this today on a telegram news channel.

An international investigation uncovered a large-scale fraud scheme in the crypto industry. Two interconnected networks, operating from Ukraine and Georgia, scammed thousands by promising guaranteed returns on fake investments. Some firms were found to be linked to Israeli business figures.

This was what I have said in one of the thread in reputation that someone you barely knew online can create and develop trust for you and use that avenue to scam you and this was what happened to those cryptocurrency investors. The scammers would first create trust for good communication and even gift you cash for you to believe that he is a good man but he has other bad motive. I will not advise investors to use any of the following platforms. Ice Crypto Trading App, ABC Trading, Capital Handel System etc.
Source: Here

[Charles-Tim]

Do you know what is really funny about such investment? We always see them on this forum and we easily know that they are scam. But what is really funny about the scam investment sites is the investment APR. I think the last I saw that I reported has 900% APR. That can easily be known as scam but inexperienced people are so ignorant about it and think someone can easily make money like that. Even no need to trust unknown investment site of low APR, not to talk of those with high APR that are definitely scams.

[DiMarxist]

Do you know what is really funny about such investment? We always see them on this forum and we easily know that they are scam. But what is really funny about the scam investment sites is the investment APR. I think the last I saw that I reported has 900% APR. That can easily be known as scam but inexperienced people are so ignorant about it and think someone can easily make money like that. Even no need to trust unknown investment site of low APR, not to talk of those with high APR that are definitely scams.

The need of quick money is the compelling force making people to invest so when they saw those advertisements in those platforms with high profit placement, they don't think twice and all what they wanted is the money and not the out of the investment. They wouldn't think if there money is saved or not.
Those scammers present high APR/ROI to  the victims and get their attention to be scammed. As you said once APR is high, avoid them. Last 4 years, a friend of mine was scammed from one India trading campany.

[Churchillvv]

Red flags are easily noticed on this platforms but most of the guys who fall victim are always not ignorant of the red flags but are controlled by some push factors that are very tempting like the ROI that are promised and of course having the impression of making quick money is the first step to failing victim to this scams.

However this big scams doesn't just prevail in private they are always legal backups to the scams but such connections are always terminated before it gets to the worlds hearing. countries where such scams are found are either aware of it or are likely to be the head of administration of the scam but won't be discussed in the news.

[Sanitough]

The biggest red flag is "guaranteed returns" - that’s classic Ponzi.

I’m honestly surprised that people still fall for these scams. And an investment platform? Are they kidding? They’re just riding on crypto’s popularity and throwing around the word trading to lure in investors. But like any Ponzi scheme, once they collect enough money, they’ll pull an exit scam and disappear, only to resurface later with a different name, repeating the same cycle.

[Kemarit]

Do you know what is really funny about such investment? We always see them on this forum and we easily know that they are scam. But what is really funny about the scam investment sites is the investment APR. I think the last I saw that I reported has 900% APR. That can easily be known as scam but inexperienced people are so ignorant about it and think someone can easily make money like that. Even no need to trust unknown investment site of low APR, not to talk of those with high APR that are definitely scams.

The need of quick money is the compelling force making people to invest so when they saw those advertisements in those platforms with high profit placement, they don't think twice and all what they wanted is the money and not the out of the investment. They wouldn't think if there money is saved or not.
Those scammers present high APR/ROI to  the victims and get their attention to be scammed. As you said once APR is high, avoid them. Last 4 years, a friend of mine was scammed from one India trading campany.

And one of the weapons that we can have against this scammer is to really educate ourselves, self-awareness, maybe reading from this community or any other source that give us information on how this scam works and how not to fall for it.

As the saying goes, if it's too good to be true, then probably is, so we should already learn for this. I know that scammers really knows how to play with our emotions and psychology. But I think we are more intelligent from them and we should see red flags from this kind of offers.

[Hazink]

When the offer is too good to be true, you flee and don't even wait to get convinced. Those who get victimised by such scams are now those who cover themselves with greed and means of getting quick wealth without stress.

Avoid it and only use self custodial wallets for your investment if it is foe long term.

Are self-custodial wallets used for investment? Or are they where we store our coins? As far as I know, there is no investment that's done under a self-custodial wallet, unless in a situation where the wallet will have to partner with a third party in order to provide a buying option for their customers.

[DPHOR]

The scammers would first create trust for good communication and even gift you cash for you to believe that he is a good man but he has other bad motive. I will not advise investors to use any of the following platforms. Ice Crypto Trading App, ABC Trading, Capital Handel System etc.
Source: Here

Any platform that promises a higher returns of investment should be thread with caution, In fact it's something to entirely avoided because when something is too real to be true is not where we should go make investment from the origins. People may fall victim because they failed to make proper investigation for these if they do they wouldn't get involved to these scam sites, also they should control their greed level to reduced being scammed.

[boyptc]

Sadly, many are still ignorant with the fact on how a real investment works. There are real ones that guarantees return but with so very low interest or profit.

I don't want to put some bad input to the victims but there is a part of them that needs to improve on how they look into matters of investing.

It's not just all about being in a network of people that they know but, they need to have personal knowledge on how typical scam works. DYOR is a simple word but it's meaningful and could save lives.

[Catenaccio]

I stumbled on this this today on a telegram news channel.

An international investigation uncovered a large-scale fraud scheme in the crypto industry.

Scams are everywhere and have existed in long history. Scammers have been adaptive and changed their scam methods, channels and tools from traditional ones to blockchain and cryptocurrency ones but basically their scam methods and schemes have basic patterns. If you can learn about most common scam methods, you can have more knowledge and perhaps better ability to avoid scams.

Telegram is a paradise for scammers.
Cryptocurrency scambook.

[hugeblack]

Usually guaranteed returns on fake investments from well-known platforms and highly regulated entities are suspicious, let alone from unknown platforms or accounts who no one knows about. It is difficult to end scam, but at least let's make it less and let these scammers get the minimum.

[BlackBoss_]

Usually guaranteed returns on fake investments from well-known platforms and highly regulated entities are suspicious, let alone from unknown platforms or accounts who no one knows about. It is difficult to end scam, but at least let's make it less and let these scammers get the minimum.

Bitcoin can be added to scam networks, Ponzi projects but Bitcoin is not scam, those projects and networks are scam and they abuse Bitcoin for their scam activities.

With altcoins, this can be more severe as altcoin projects can be planned and created as scam initially. I mean altcoins projects and networks related to altcoins have more probability to be scam than ones related to Bitcoin. Related to Bitcoin because those scammers know that they can add Bitcoin to their scams and get higher chance of success. It's not because Bitcoin is scam.

[cryptoaddictchie]

not to talk of those with high APR that are definitely scams.

People should be wary of the platform proposing high APR% from staking. If its unknown platform then it could be scam. Though this kind of APR is achievable during 1st launch of staking pool but it will decrease as more people joining it and taking up the high amount of staking rewards since it cant be consistently given out rewards since the pool has increased too.

[lovesmayfamilis]

How many years has this been going on? We can say that it will continue for as long as naive people—those who believe in drawn pictures of profit—invest their money. Nothing really changes. In our time, scammers use AI to create more sophisticated and colorful promises. If a few years ago we taught new investors to be careful and not to believe those promises that look fabulous, today's advice can be absolutely unchanged.
The problem is in people, and as long as they fall into the trap of such "entrepreneurs," we will see many more stories about losing large sums.

[Strongkored]

This is nothing new, and as long as there are people who believe in high returns, we will always hear news of fraud, this is what can be called greed, because they want to get a lot of money, believing that just by placing their assets on one digital platform will give them high profits without having to do anything, how can they believe this.

[btcltcdigger]

These scams are a dime a dozen. A day doesn't go by where someone doesn't PM me offering a lucrative platform that pay out daily %. They even spam me with screenshots of their withdrawals.
I play along for a while when i'm bored, just to mess with them

[Doan9269]

I'm posting this here also foe newbies to know that not all the cryptocurrency investment platforms they see in the internet is genuine. You have to verify the platform before you proceed to invest in it. If you don't know the platform and it promising you heaven and earth with good bonuses. Avoid it and only use self custodial wallets for your investment if it is foe long term.

Bybit recent hack should be a lesson to some of these users, because the moment one understand the difference between a custodial wallet and non custodial wallet, then I don't think there is much need to use in engaging people for the awareness of what they have already been told, that is why learning is important and being careful should also be considered a vital approach to secure what belongs to us by adequate adherence, there have been series of scam events that led to massive lost of assets and yet it seems some are taking all these for joke because they have not for once been a victim of any before.

[Alpha Marine]

The need of quick money is the compelling force making people to invest so when they saw those advertisements in those platforms with high profit placement, they don't think twice and all what they wanted is the money and not the out of the investment. They wouldn't think if there money is saved or not.

This is exactly what the scammer feeds on. They feed on the greed of their victims. Greed, coupled with ignorance makes one an easy target to be scammed. When I see any investment that has a a ridiculous ROI in a short period of time, it should be obvious it's a scam but somehow people still fall for it.
They don't ask questions like "what investment are they going to d with my money that will give me such amount of interest in this period and also make enough interest for them to get profit out of it. They don't control the market, they're just traders.

Then the fact that these people usually use "risk-free or no-risk investment" should be the first red flag. Even bitcoin investment has risk so what kind of investment do they do that has no risk?

[yudi09]

Yes. Something like this should be a serious message before getting involved in the investment world. Choosing an honest and clear platform is something that needs to be considered seriously so as not to lose money.
They can do any mode for any reason to registered users and those who have it.
It takes a very careful attitude before ending in regret.

[BlackBoss_]

You have to verify the platform before you proceed to invest in it. If you don't know the platform and it promising you heaven and earth with good bonuses. Avoid it and only use self custodial wallets for your investment if it is foe long term.

You need to verify the platform first, and products they provide like if they give you offer of investment in a token, let's check and verify quality of that token.

Whether that token is a scam token.
Check honeypot scam tokens

A platform that is created purposely for scam will try to mix among good and scam cryptocurrencies with "too good to be true" offers from scam tokens. People are greedy and are easily attractive by scam offers.