What's worse?
(1) Being ripped off by another person and having a hunch it might happen, because the deal is too good to be true but your own greed can't keep you away from indulging?
OR
(2) Being ripped off by the fractional lending banking system and not even knowing it while it's happening?
I'd say it's the latter.
People have been getting scammed by other people for as long as there have been people. Scamming is human nature. Falling for scams is human nature. Bitcoin certainly isn't driving some nefarious activity, at least not more so than our national banking systems.
Topic: Cryptocurrency Scammers Are Making Fortunes By Ripping Off 'Greedy' Investors - page 3. (Read 499 times)
April 14, 2018, 12:33:13 AM
April 14, 2018, 12:24:02 AM
Better carefull with our private key and keep that safe. Beside that, always aware link sent on our email or suspicious link on website because that can stole our crytpo on our wallet.
April 14, 2018, 12:14:58 AM
It's quite pathetic to think that most of the victims are people who doesn't even have a clue on cryptocurrency.
Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
What's the funniest thing of all in that incident is that a single entity decided to invest 10 million Philippine peso where in fact they could easily buy a whole btc using that sum? Another funny thing there is how the ones who referred users there are being threatened by their downlines. They should have had done their research before investing, and bought Bitcoin themselves.Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
Yeah I heard that too. They(victims) had been notified that if they divest their money, they can no longer go back and re-join the program.
It's like fooling them and saying "okay it's your choice, you can't join anymore after this. It's the end for you and you can't receive future payments" WTH.
So far this is the simplest scam I've ever known using cryptocurrency. There's no website or any platform and payments are made manually. Moreover, it only spread with word of mouth and the use of SNS.
April 13, 2018, 08:58:10 PM
There's an addition to that sum for an almost $19M.
Anyone have heard of the now popular NewG scam in the Philippines?
It's quite pathetic to think that most of the victims are people who doesn't even have a clue on cryptocurrency.
Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
Anyone have heard of the now popular NewG scam in the Philippines?
It's quite pathetic to think that most of the victims are people who doesn't even have a clue on cryptocurrency.
Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
It was around 900 million Php. In our country, there is still a lot of greedy investors who want a lot of profit in short time. In my insight, one of the reason why that investment company went down because of the market crash. Last year, all coins are pumping so there's a chance that they're using it for trading (this is just my speculation about it
). Sad to say but this scam could be the reason why crypto will not be accepted here in the Philippines. April 13, 2018, 07:32:54 PM
There's an addition to that sum for an almost $19M.
Anyone have heard of the now popular NewG scam in the Philippines?
It's quite pathetic to think that most of the victims are people who doesn't even have a clue on cryptocurrency.
Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
Anyone have heard of the now popular NewG scam in the Philippines?
It's quite pathetic to think that most of the victims are people who doesn't even have a clue on cryptocurrency.
Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
This is where greed comes from, don’t invest if you know nothing because in the end of the day your money will lose. The problem with people is that, they are not making effort to fully understand cryptocurrency all they want is to earn money without doing anything which is really impossible.
April 13, 2018, 07:27:08 PM
It's quite pathetic to think that most of the victims are people who doesn't even have a clue on cryptocurrency.
Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
What's the funniest thing of all in that incident is that a single entity decided to invest 10 million Philippine peso where in fact they could easily buy a whole btc using that sum? Another funny thing there is how the ones who referred users there are being threatened by their downlines. They should have had done their research before investing, and bought Bitcoin themselves. Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
April 13, 2018, 06:55:50 PM
The market is not regulated and so expect more con artist to come over and take advantage of the situation, it is not a big secret to identify legitimate project from a scam one, the only thing you need to do before investment is to learn about the project and how competent the team is and are they transparent and clarify your doubts, if so you could avoid them.
April 13, 2018, 06:37:12 PM
There's an addition to that sum for an almost $19M.
Anyone have heard of the now popular NewG scam in the Philippines?
It's quite pathetic to think that most of the victims are people who doesn't even have a clue on cryptocurrency.
Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
Yeah I agree. No doubt they got fooled by these kind of scammers. These innocent people should learn, make their own due diligence or even asks to those who have knowledge already about cryptocurrency investments or educate themselves on how to play the market for them to understand how cryptocurrency works. That is why I myself teaches everyone here in my local community about crypto but seems only few are interested. Convincing these people is really hard but I will try my very best to educate them so that they will be aware of possible scam if ever there will be something this kind of modus operandi. Anyone have heard of the now popular NewG scam in the Philippines?
It's quite pathetic to think that most of the victims are people who doesn't even have a clue on cryptocurrency.
Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
April 13, 2018, 06:27:36 PM
That's pure greed here. Scammers are taking advantage of this and those unsuspecting victims really thinks that they can get easy money that's why scammers are really targeting them. I'm sure that no amount of advise if people are swayed by this 'sweet talkers" saying this and that, blah blah blah. As if people are hypnotized with $$$$ in their eyes. lol.
Just in the Philippines alone, millions worth of money has been taken away by the scammers but if you look at those suspects, no can't imagine how they pull it off. They easily convince them to put millions into it without really understand what crypto is and what risk it has.
Just in the Philippines alone, millions worth of money has been taken away by the scammers but if you look at those suspects, no can't imagine how they pull it off. They easily convince them to put millions into it without really understand what crypto is and what risk it has.
April 13, 2018, 06:07:07 PM
Greed is what is often targeted by the scammers. Take bitconnect for example, it was an obvious ponzi scheme but people still fell for it because they believed that they would make millions in such a little time. If you don't want to get scammed, don't be greedy.
Who does not want to have easy profits? imagine that someone tells you that you will have a profit of 300% per month, wow people are already falling in this blow and do not even investigate who the people behind this project and how it is possible that these people behind this project can offer 300 % of profit per month. just think why the hell would that person need other people's money, but few people think about it.
That's why you're correct. Greed makes people not see the obvious
Quote
Notable losses since the start of the year include the $400 million hack of Japanese cryptocurrency exchange Coincheck in January and a $170 million hack of cryptocurrency exchange BitGrail in February.
this is the exchange's fault
April 13, 2018, 06:06:19 PM
There's an addition to that sum for an almost $19M.
Anyone have heard of the now popular NewG scam in the Philippines?
It's quite pathetic to think that most of the victims are people who doesn't even have a clue on cryptocurrency.
Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
Anyone have heard of the now popular NewG scam in the Philippines?
It's quite pathetic to think that most of the victims are people who doesn't even have a clue on cryptocurrency.
Yeah, most of them have zero knowledge on crypto. If you'll ask them, all they can say is "bitcoin, a money on the internet". They've got sweet-talked like hell with endless promises.
April 13, 2018, 05:30:09 PM
where does the 'greedy' part come in when you're the innocent victim of an exchange's security incompetence?
as for the victims of ponzis, i don't have any sympathy. there've been so many and the red flags are so damn red then it's pure mindless greed that drives people into ignoring any good sense.
as for the victims of ponzis, i don't have any sympathy. there've been so many and the red flags are so damn red then it's pure mindless greed that drives people into ignoring any good sense.
True. It is unfair for people to combine the losses from cryptocurrency frauds, scams, and hacks. People who invest in ponzi schemes and fraudulent ICOs have only themselves to blame. People who fall prey to phishing scheme can be blamed for being naive and not technically sophisticated, but not greed. When exchanges go bust, people can only be blamed for being lazy (and not transferring bitcoins to their own wallets).
April 13, 2018, 05:08:55 PM
Greed is what is often targeted by the scammers. Take bitconnect for example, it was an obvious ponzi scheme but people still fell for it because they believed that they would make millions in such a little time. If you don't want to get scammed, don't be greedy.
I think it is not only the greediness of the people that pushed them to invest in scam, sometimes we can consider the needs, faith, trust and ignorance.1. Needs- we invest for our future needs, we secure ourselves in terms of disaster and emergency.
2. Faith- we have faith in product or investment. We are easily attach to the benefits that will bring to us by HYIP.
3. Trust- we always give our trust if we find something better with investment. Legal papers can easily blind other perspectives of the people.
4. Ignorance - if you are not ignorant, you will never lend your hand in scam.
There are always factor behind our failure but we need to rise up again for our future. Greed is always seen by the potential scammer to the investor. If you are greed, you will not let your dreams fly high.
April 13, 2018, 04:22:59 PM
where does the 'greedy' part come in when you're the innocent victim of an exchange's security incompetence?
as for the victims of ponzis, i don't have any sympathy. there've been so many and the red flags are so damn red then it's pure mindless greed that drives people into ignoring any good sense.
as for the victims of ponzis, i don't have any sympathy. there've been so many and the red flags are so damn red then it's pure mindless greed that drives people into ignoring any good sense.
April 13, 2018, 03:21:14 PM
Im really pissed off to this opportunistic scammers but in the first place why people easily believes in those easy money earning techniques. They are easily blinded by the promises so in general, the victims here are also liable why they are being scammed.
Recently here in our country, there are lots of people got fooled by crypto investment scheme (the scammers are now in jail). I look at the proposed terms and plans and all I can say is !@#$%. Double the money within a short time frame, wtf! Majority of those people who invest doesn't even know what bitcoin is so how the hell they just throw away their money easily in these kind of scheme. Because of that incident, another misleading title of headline about crypto was being shown by the media resulting in increase of negative views about bitcoin especially for those newcomers who are lazy to do research.
Sometimes what they think is "right" is actually a foolish thing to do in reality. Some people really have to experienced worst before changing their mindset.
Recently here in our country, there are lots of people got fooled by crypto investment scheme (the scammers are now in jail). I look at the proposed terms and plans and all I can say is !@#$%. Double the money within a short time frame, wtf! Majority of those people who invest doesn't even know what bitcoin is so how the hell they just throw away their money easily in these kind of scheme. Because of that incident, another misleading title of headline about crypto was being shown by the media resulting in increase of negative views about bitcoin especially for those newcomers who are lazy to do research.
It is our individuality that decide our fate,, do what is right and be secured..
Sometimes what they think is "right" is actually a foolish thing to do in reality. Some people really have to experienced worst before changing their mindset.
April 13, 2018, 03:03:51 PM
Most of the time, those who got burned are those ones who are too lazy to do proper research in investing whereas those who did their homeworks don't tend to get victimized by these amateur schemes. The stats are just a fine example on how gullible people can be if they were presented with sparkling words that promises fortunes they never had before in an instant. Bitcoin or any other cryptocurrency don't offer that; those who managed to get rich due to their investments on cryptocurrency was around when no one else was paying attention. They think they can replicate the success these pioneers made by joining into a new ICO/investment scheme and thinking they have outsmarted others, but little do they know that they're just being lured into the hands of scammers who've been doing this for so long.
April 13, 2018, 01:56:27 PM
This is why crypto related ads are getting banned left and right. It's just easier to ban them all. Also You really cant blame those "greedy" investors. Investors have to be opportunistic and because the technology is new, they probably dont fully understand it.
This is true too. You cant blame fiat the same way you cant blame cryptos for scams.
If we look at that figures that is even small than the reality of fiat investment scammed and corruption happening in our world every year.. What I mean is our greediness as a people who thirst money is beyond what currency we have either bitcoin,, fiat or even metals like gold and silvers.. Can we stop it?? Yes by living in the forest with no electricity,, no internet and isolated..
It is our individuality that decide our fate,, do what is right and be secured..
It is our individuality that decide our fate,, do what is right and be secured..
This is true too. You cant blame fiat the same way you cant blame cryptos for scams.
April 13, 2018, 01:52:38 PM
Are we really surprised by this? I just learned about the biggest scam in crypto history today and it was off the amount you mention by itself. Clearly it was a ponzi scheme because they offered guaranteed returns but honestly I don't feel bad for those who get fleeced. When a project asks you for money or guarantees you income some red flags should go off. If not, hopefully you can learn after getting scammed once.
https://decentralpost.com/2018/04/12/biggest-ico-exit-scam-to-date-in-vietnam-660-million-raised-and-disappeared/
https://decentralpost.com/2018/04/12/biggest-ico-exit-scam-to-date-in-vietnam-660-million-raised-and-disappeared/
Oh, wait a minute!!!
They did manage to raise 660 millions?
In one newspaper I read that the 660 millions was their target not how much they managed to get!!
All that I can say it's ...WOW!!!
I've checked the forum and it does seem they have run a couple of bounty + signature campaigns.
180 pages of promoting a scam
How did they take the money, via ETH only?
32 000 people investing in Vietnam alone seems to much, did they accept any other kind of payments?
If we look at that figures that is even small than the reality of fiat investment scammed and corruption happening in our world every year.. What I mean is our greediness as a people who thirst money is beyond what currency we have,, either bitcoin,, fiat or even metals like gold and silvers.. Can we stop it?? Yes by living in the forest with no electricity,, no internet and isolated..
It is our individuality that decide our fate,, do what is right and be secured..
It is our individuality that decide our fate,, do what is right and be secured..
Compare those numbers to the numbers of people that use fiat to have a true sight of the deal.
The largest ponzi scheme ever was at around 65 billions, if we compare with Bitconnect is 30:1 and with this Vietnamese scam 100:1.
But cryptos never come close to the derivatives market for example, and their 1.2 quadriloin.
April 13, 2018, 01:35:15 PM
Are we really surprised by this? I just learned about the biggest scam in crypto history today and it was off the amount you mention by itself. Clearly it was a ponzi scheme because they offered guaranteed returns but honestly I don't feel bad for those who get fleeced. When a project asks you for money or guarantees you income some red flags should go off. If not, hopefully you can learn after getting scammed once.
https://decentralpost.com/2018/04/12/biggest-ico-exit-scam-to-date-in-vietnam-660-million-raised-and-disappeared/
https://decentralpost.com/2018/04/12/biggest-ico-exit-scam-to-date-in-vietnam-660-million-raised-and-disappeared/
April 13, 2018, 01:22:00 PM
If we look at that figures that is even small than the reality of fiat investment scammed and corruption happening in our world every year.. What I mean is our greediness as a people who thirst money is beyond what currency we have either bitcoin,, fiat or even metals like gold and silvers.. Can we stop it?? Yes by living in the forest with no electricity,, no internet and isolated..
It is our individuality that decide our fate,, do what is right and be secured..
It is our individuality that decide our fate,, do what is right and be secured..
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