The crypto world is filled with scammers trying to exploit people's ignorance. One such scheme was pitched by Fatman Terra on Twitter, and he found keen investors instantly!
This crypto influencer and educator found that he could enlighten people about industry scams by launching his fake investment scheme. He projected it as an opportunity for those who want to get into investing but don't know where or how yet -and immediately had willing investors waiting.
"In two hours, I got over one hundred DMs," he said on Twitter, adding that 99% of crypto projects are frauds designed to benefit their founders.
He declared to have raised over $100,000 using 3.45 BTC from Twitter and 2 BTC from Discord. He also claimed to have refunded all of the money he had received.
"It is far too easy to defraud people in cryptocurrency." And this must change," he wrote on Twitter.
He did not provide the name of the fund, nor did he characterize the trade or explain where the yield was coming from while promoting his fake investment scheme. People, however, continued to invest.
"I want to deliver a clear, strong message to the entire cryptocurrency community: anyone offering you free money is lying." "It simply does not exist," he explained.
Would you fall for this kind of scheme, or have you experienced being scammed too? It’s time to read this article to boost your knowledge about cryptocurrency and avoid fake investments.