Fake Ponzi scheme launched by FatMan on Twitter kills hundreds – BeinCrypto

A fake Ponzi scheme, set up for experimental purposes, demonstrated how vulnerable the crypto sphere still was.

The crypto sphere returns to its ways

In the midst of emerging from the crisis, crypto scams are finding a new lease of life. Although not having ceased their activity, the criminals suffered a certain slowdown. The month of August seems to have been an opportunity to replenish the coffers. However, despite the abundance of scams in the industry, many victims continue to be identified. An experiment has, once again, demonstrated the vulnerability of the public in the face of these.

FatMan, whistleblower and famous detractor of Terra Labs, launched a fake Ponzi scheme. Thanks to a simple proposal, the latter was able to attract several hundred potential victims. In a Twitter post, he announced that he had access to a very profitable BTC farm and that he would pay a part of it to the victims of the Terra project.

Source: FatMan’s Twitter account

FatMan would then have received several hundred private messages from interested Internet users. He would also have collected several Bitcoins that users would have paid him in order to invest in the farm in question. The latter would also have made the news travel and recruited from their entourage in order to maximize their returns.

The whistleblower nevertheless returned to the public a few hours later to admit that the whole story was false and that the proposal was only an experiment.

Source: FatMan’s Twitter account

All victims who paid money will be fully reimbursed. By embarking on this experiment, FatMan simply wanted to prove how gullible some users could be. Some of them would have invested without even inquiring beforehand. Enough to prove that the crypto sphere is still driven by the love of profit.

The Ponzi instigator ended his approach with a lesson, recommending users not to make the same mistake again, and announced his intention to hunt scams in the future.

Mistrust regarding an anti-Ponzi scheme on Do Kwon

If, in his publication, FatMan qualified Do Kwon of scammer and recalls all the Ponzi charges directed against him, another project joins the movement. Entitled JailKwon, this one would surf on the consequences of the fall of Terra. Indeed, JailKwon would base its activities on the education of the crypto sphere by allowing users to warn others of a possible scam.

The whistleblower would thus receive a few tokens of the same name. However, it could be that this project is only a fad. Indeed, the JKWON coin is seeing its price skyrocket and is still only two days old.

Enough to speculate on a possible downtrend to come, once the Do Kwon case is closed. The opportunity to remember that each investment must be carefully considered and that only a minority of projects that have proven themselves over time can be considered reliable.


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Fake Ponzi scheme launched by FatMan on Twitter kills hundreds – BeinCrypto

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