Fake Ponzi Scheme Raises $100K in a Bid to Boost Scam Awareness:
Renowned cryptocurrency influencer, FatManTerra, revealed on Twitter that he deliberately created a fake Ponzi scheme to raise funds.
The initiative allegedly saw huge returns of $100,000 worth of BTC in investments.
The influencer disclosed:
In two hours, I received over one hundred DMs. I raised 3.45% BTC from Twitter and 2 BTC from Discord – over $100k, with more requests flooding in by the minute.
His original tweet of the fake scheme reads:
Received access to a high-yield BTC farm based on a private carry trade operated by an up-and-coming fund. I’ve maxed out what I could, so there’s some leftover allocation and I thought I’d pass it alonge – priority will be given to UST victims. DM for more details if interested.
FatManTerra said that immediately after his tweet, he started getting tons of messages and that it was “far too easy to scam people in crypto.”
However, he revealed that this was a fake scheme and that his goal was to raise awareness.
While I used plenty of buzzwords and put on a very convincing act on all platforms, I made sure to keep the investment details intentionally obscure – I didn’t name the fund and I didn’t describe the trade – no one knew where the yield was coming from. But people still invested.
Meanwhile, he also said that everyone who sent money has been fully refunded and that there hasn’t been any investment.
Risk-free high yields don’t exist.
Yet, some Tweeter users have reacted to his tweet, arguing that he had the intention of scamming people but got cold feet in trying to do so.
Scamming has been easy lately especially on crypto noobs.
This is the reason why scammers try to gain access to account of prominent crypto influencers to boost their scamming success.
The crypto community needs to understand that crypto is not a get-rich-quick scheme, and concentrate on learning first, before earning.