Topic: Another Bitcoin scampany got rekt! - page 3. (Read 513 times)

These type of scams are the updated version of HYIP schemes, where the company would offer high amount of interest and initially pay it’s investors and then suddenly disappear one day along with their funds. After loosing in these type of schemes I have made sure never to invest in online schemes, and I’m glad you too used your mind and stayed away from such Ponzi schemes.

The biggest problem with all Ponzi schemes is our greed, we let our greed take over our mind and we end up loosing our funds hence I would suggest you all to not be greedy, and avoid any scheme that provides interest or doubles your money unless it’s coming from a reputed brand.

Indeed, they have to suffer the consequences of their actions. Well, what can we expect these days? scammers think that everything is possible when it comes to money and that is the reason why they keep on deceiving people because they wanted to take advantage of them particularly on those people who does not have enough understanding when it comes to these things. They will hide their true intention by making you believe on their words and promises. It is the reason why many of us have some trust issues and we don't have to feel bad about it because of our past experiences, I agree with you that they should learn from it to avoid doing the same mistakes. It will guide them and make them wiser, only if they open their mind for new learning and experiences.

Seriously i don't know how some folks get swayed by these silly tactics. I bet is greed for more, darn..a bitcoin mining pool in this day and age . Ahh, well it's good these culprits have been found and brought to be book. I hope they are able to fish all the guys that purported this crime. People should also learn some lessons out of these experiences and stop falling for these cheap schemes every now and then.

Its so sad that there are a lot of ponzi scams in the bitcoin ecosystem. But only people with the nature of greed in the crypto space will always be victims scams seen in the bitcoin ecosystem. The greedy nature of majority of people in the crypto space will always make ponzi scheme and scams to exist in this ecosystem. People are always looking for quick ways of making money in the crypto space without understanding that cryptocurrenies are just the digital presentation of fiat currency. If the greed nature of people don't leave the crypto space, scams will always exist.

Let me tell you what's happening with little dose of history!

Traditional ponzi is almost dead now after three big crackdowns by FBI. First crackdown was on a payment processor called Liberty Reserve which was closed down by FBI on mid 2013. Liberty Reserve was the biggest payment processor in the ponzi world where no one needs to be KYC compliant to keep thousands of dollars, so it quickly became the main source for money laundering and ponzi admins. Few years later, two biggest forums of the ponzi world namely, money makers group and Talkgold faced the similar action from FBI in August 2017 when the bitcoin market was on rise. So the paying ground of ponzi admins became even narrower because these are the two main places for ponzi promotion. So ponzi admins quickly found their next area of continuing the business which is cloud mining and ICO while the modus operandi remains same as before!

The rise of cloud mining and ICO market in 2017 was actually fueled by the former ponzi scammers and that's why more than 95% of the ICOs that were started in 2017 and 2018 turned down to dust! Because these ICO companies were never meant to bring a disruptive product in the market. They came here to siphon money out of your pocket to theirs'. The result you can see today was plotted long back with the death of traditional ponzi market!

It's in operation since 2015, probably they got a lot of Bitcoin and then when it went crazy so they got a higher valuation than intended.


Maybe it's you who don't know how the world react to this. Literally, every once in a while there is news where government crackdown scammers using Bitcoin or other cryptos.

the worst part of the ponzi schemes is that the company that is scamming people doesn't really have to do much! they just start things up and do a little initial advertisement to get the primary victims, then their victims do the rest like a virus that infects the host and the host keeps spreading it everywhere it goes. because that is how the victim can survive himself and get his money out by infecting others.

looks like only US government is in the act of moving against this scammers?if US can do this why not the whole world can't?
there are too many cases almost every day here that they are being victims but yet nothing happens,how i wish that all of these scammers will be punished and put behind bars so they wont victimized innocent people again and take their money just like that.
thats only one area and cloudmining has been derailed now,but there are other ways to scam people and in this field those scammers are experts.

fraud with the Ponzi Scheme has been around for a long time, Ponzi schemes always innovate according to the circumstances of the times, Ponzi schemes currently use crypto popularity, usually under the guise of cloud mining, I have often joined cloud mining, most end in scams.

Don't be surprised, people will always be stupid when it comes to money because we aren't taught how to handle it properly in our school days. We really can't blame them though. They've probably met them in person to make it more believable. Most of the investors are probably new too.

I can't believe that on this year that most of ponzi scheme was already exposed, There is still many people that falling for that scheme and that whoooping 722M$ is an insane
amount. I'm too lazy to read the article but it's hard to believe that they still collected 722M for a cloud mining investment compared on many legit ICO run during 2018 to 2019.
What's really happening in crypto world? 

Matthew Goettsche, Jobadiah Weeks, and Joseph Abel have all been charged with fraud by US District Court prosecutors regarding their cryptocurrency company, BitClub Network. The three men allegedly used the company as a Ponzi scheme to defraud investors of $722 million.

The company purported to run a Bitcoin mining pool, taking funds from investors for ‘shares’ in the mining profits. Investors’ funds were to be used to purchase mining hardware. Returns to investors were to be based on customary miner rewards and transaction fees earned.

Source link here

Well, well, well. Down goes another ponzi scam!

I remembered last year that someone sent me a message that I should join the Bitclub network. I refused.

He really insisted me that time to join because he was "paid" as promised. He wanted to help me change my life.

Yeah, but deep inside, he wanted me to get "victimized" in another Bitcoin scampany!

Why would I need to join a ponzi like that? Now that these filthy founders got charged for running a Bitcoin ponzi scam, I guess that the guy who sent me a message back then is now "crying" because of his lost money in that scampany.

I just feel sorry for those who have fell for that Bitcoin scampany back then. Lesson learned for you guys.