Ponzi scheme scammer uses BTC to cover tracks - page 4.

WeThePe0ple

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Quote from: Lucius on December 02, 2022, 05:48:28 AM

They can cover their tracks as much as they want, but they can't hide if one of those powerful agencies wants to find them - or in other words, if the scam turns into a multimillion-dollar fraud. There are numerous stories that speak in favor of this, although there are certainly those scammers who manage to stay under the radar.

That patient of yours took the bait very well, because he reinvests almost everything he allegedly earned, and at some point everything will collapse and he will be left with nothing. Even what he is telling you may not even be true, maybe he is just one of those who throw the bait and wait for someone like you to be caught on the hook. 600% investment return in just a few months is certainly nothing legal, you shouldn't have any doubts about that.

I've known the patient for 4 years now. We are friends.
She logged into her account and showed me the transaction history.
She started with a hundred bucks, to test the waters. Then she 10x'ed because the withdrawal worked, and now she has done it again.

She and her husband are both in it for 10k at this point. They are even making accounts for their children.
They realize it may be a scam, but they only invest previous profits so they can't lose their own money.
If people succeed in taking out $10k or $50k to test the waters, and the scammer allows this because he expects them to re invest, they have scammed the scammer.

Although I do not believe the scammer will let them take out this kind of money.
I considered entering the scheme because the scammer is likely to let people take out profits under 10k.

But I do have to register with my passport, and I don't feel comfortable uploading this to a scammer's website

hugeblack

legendary

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Excuse me, but will you give your money to someone who will invest it without knowing this person?
When a person invests your money and gives you a return, there must be a commercial, investment, lending or any income-generating activity. Ask that person about this data and if it is practically impossible to achieve that profit, why you invest in the first place?

Ponzi schemes are investments that appear to be profitable, and the average person cannot verify that it is a scam except after it has occurred, but after scrutiny from investment institutions and companies, and after careful examination, it can be revealed.

Therefore, the model that offers 600% profits without mentioning a logical mechanism for generating those profits is a scam and you would be stupid if you gave them your money.

Coin_trader

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YES. There’s a news about this last October that a ponzi operator during 2012 just got arrested this October for committing such criminal offense even a long time ago. You read the news on this Bitcoin Ponzi Operator Ordered Imprisoned for Civil Contempt although his case is already in court many years ago. The ruling still a guilty against him because all the illegal transactions that proof on the offense is recorded in the blockchain.

There’s also chain analysis services nowadays that can track all the transactions even with a mixer. This criminals ponzi operator might not be caught today but they will soon once victims file a case against them.

hatshepsut93

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Quote from: WeThePe0ple on December 02, 2022, 05:35:18 AM

Can his BTC address somehow lead to an arrest?
Ponzi schemes don't last long. And historically these people are arrested because the source of the money is easily identified.
Now with BTC I think it is much harder to identify the scammer and to stop the scheme. I think it's harder for any government to prove that there is a Ponzi scheme in the first place

If the scammer is dumb enough to not use mixing or similar tools, and then send the coins to a centralized exchange that does KYC, and this exchange would cooperate with police, the scammer could get caught. Otherwise there's very low chance of this happening. Though you should still remember that Bitcoin transaction is not the only activity - a scammer could use their name, adddress, their photo to establish trust, and this could help police catch them.

Accardo

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Ponzi scheme is similar to fishing, you use a bait to catch a fish that's why nobody is to be blamed. Most often, why these Ponzi admins go Scott free is because some people profited on the initial stage. Like your patient whose profits is around $9000 she won't have the guts to chase after the admins when they're gone, same with other victims. Apparently, only a few that didn't make a dime; those that their funds were used to close the scheme would blow the whistle and it may not sound too loud for the Government to hear them.

Lucius

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They can cover their tracks as much as they want, but they can't hide if one of those powerful agencies wants to find them - or in other words, if the scam turns into a multimillion-dollar fraud. There are numerous stories that speak in favor of this, although there are certainly those scammers who manage to stay under the radar.

That patient of yours took the bait very well, because he reinvests almost everything he allegedly earned, and at some point everything will collapse and he will be left with nothing. Even what he is telling you may not even be true, maybe he is just one of those who throw the bait and wait for someone like you to be caught on the hook. 600% investment return in just a few months is certainly nothing legal, you shouldn't have any doubts about that.

WeThePe0ple

member

Activity: 202

Merit: 22

I work in healthcare and one of my patients offered an investment opportunity to me.
Leaving any amount of money higher than 100 bucks untouched for 9 months, would result in a 600% return on investment.
Of course this is fraud, but I had to figure it out. It is a pyramid system in which withdrawals of people at the top, are funded by money from new "investors" at the bottom of the pyramid. My patient had made 2 previous withdrawals with success ($2500 profit and $9000 profit), and has now invested $10 000 expecting 60 000 in a few months.

When no new money enters the system, the bottom line of the pyramid loses their money and the creator of the scam takes it all.
The scammer asks to get paid in BTC, not in fiat currency.

Can his BTC address somehow lead to an arrest?
Ponzi schemes don't last long. And historically these people are arrested because the source of the money is easily identified.
Now with BTC I think it is much harder to identify the scammer and to stop the scheme. I think it's harder for any government to prove that there is a Ponzi scheme in the first place

Topic: Ponzi scheme scammer uses BTC to cover tracks - page 4. (Read 553 times)