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Thread: Is Bitcoin an imploding ponzi??...

  1. #101
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    Re: Is Bitcoin an imploding ponzi??...

    The recovery claims above in the case of General Sani Abacha are simply amazing. It appears eFundsRecovery was able to get the Swiss Government to return twice as much as what Nigeria was owed. While no time frame was mentioned, probably less than two weeks.

    Quote Originally Posted by Libby George
    He was never charged with corruption during his life and Nigeria has been fighting for years to recover the money.

    The Swiss government in 2017 said it would return to Nigeria about $321 million in assets seized from Abacha’s family via a deal signed with the World Bank.
    U.S., Jersey sign $300 million Abacha loot repatriation deal with Nigeria | Reuters
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  3. #102
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    Re: Is Bitcoin an imploding ponzi??...

    So far the wallet they gave me is empty.

    Address: 16PJ6W3MgGbgQBGE7MDygCHFQFqfuuM9qb | Blockchain Explorer

    If these folks were recovering Billion$ stolen by the worlds dictators what are the chances they have time for little old me?
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  5. #103
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    Re: Is Bitcoin an imploding ponzi??...

    I was hoping to get the bank account of a money mule - Google Search with this next question. There are no legit jobs where people use your bank account/crypto wallet to receive and forward money anymore than having packages randomly shipped to your house.

    Money Mules — FBI


    With all due respect to my dear mother a company allegedly based in New York doesn't have a bank account.

    Quote Originally Posted by Me
    to eFunds
    I have talked this over with my mother and it's a go.

    Due to the size of the transaction she thinks it best that I wire the funds into your bank account. Can you please provide me with wiring instructions so that we may get started.

    Blessings on you.

    Jack
    Quote Originally Posted by eFunds Recovery

    Hello Jack,
    With all due respect to your Mother. We have our structured way of doing things, considering the fact that we will have a 3 man team working on the forensic analysis and recovery, the payments to be made are not only going to the forensic team, the server would also be monitored by 2 technicians to ensure there is no interruption and overheating with adequate cooling system all through the process. There is no way the Bank Transfer would work for services like ours with the traditional bureaucratic processes which negates the swift arrangement for payment distribution to all the personnels involved. Traditionally, We have been a digital economy compliant firm and it is enshrined in our processes. kindly let us know if we can be of further assistance. I will have to hold the team back till we agree on a favorable payment option.
    I called the number which was being forwarded and some kid answered the phone with the worst NY accent I've ever heard.

    Quote Originally Posted by Mail Drop with call forwarding
    Bank Of America Tower. 1111 Avenue of the Americas, New York, NY 10036.
    +18159230458
    service@efundsrecovery.com
    Probably just don't send your money offshore hoping to score big.



    Quote Originally Posted by An advance fee scammer say what?
    what is the best way to recover your money from a bad binary options broker?

    People who have lost a lot of money trading binary options can recover their lost funds. The best choice for a victim of binary options fraud trying to get his money back is to hire a recovery company. It is estimated that a substantial percentage of binary options traders lose a lot or even all of their money.
    Binary Options Fraud | CFTC

    Binary Options Fraud | Investor.gov


    For the Lolz...

    Quote Originally Posted by An advance fee scammer say what?

    eFundsrecovery.com has helped In the past 21 years on debt recovery solutions more than US$1 billion of money, mostly from Switzerland, stolen by Ferdinand Marcos.
    By 2007 eFundsrecovery.com helped to recover over US$174 million, from jurisdictions such as Switzerland, Cayman Islands and the United States, stolen by Vladimiro Montesinos.
    To date, eFundsrecovery.com was the lead service provider in asset recovery of Over US$700 million of money stolen by Sani Abacha, by Swiss authorities and has been returned to Nigeria.
    In the recent past, eFundsrecovery.com Private investment asset recovery of US$17.7 million of the illicit gains obtained by a fraudster in Nigeria was recovered and returned within a period of 3 months.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  6. #104
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    Re: Is Bitcoin an imploding ponzi??...

    Some people don't want Crypto to be mainstream or the government in their business.

    Quote Originally Posted by Ian Allison
    Coinbase also cited anti-money laundering (AML) rules being imposed on crypto exchanges by the Financial Action Task Force, namely the so-called “travel rule” that is being skirted by certain firms in far-flung jurisdictions.

    Coinbase Calls Out Binance as It Bemoans Compliance Burden


    Although it's hard to imagine when stuff like this happens governments won't be involved.

    Quote Originally Posted by Dan Mangan

    Federal authorities said that three North Korean computer programmers have been indicted for conducting a series of cyberattacks to steal and extort more than $1.3 billion in cash and cryptocurrency from financial institutions and companies.

    North Korean hackers charged in cryptocurrency theft scheme

    From a scam perspective, if you send your money offshore to unlicensed actors you'd better expect to drown while you're swimming to recover it. Many firms don't accept US investors, wink wink. In these pages we've seen Ponzi Pimps telling people to use VPNs to skirt IP blocks. File that under a fool and his money.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  7. #105
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    Re: Is Bitcoin an imploding ponzi??...

    A lot of people in the crypto space use vpn's to be able to go to exchanges offshore because they can't get the products and services they need due to stifling US regulations. While those regulations are supposedly set up to protect US consumers, they also throttle many opportunities available to non-US speculators. (Face the fact that mucking around in the crypto space is speculation, as is a lot of stock/bond/future/commodity "investing")
    It seems like in this "industry" common sense is not all that common!

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  9. #106
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    Re: Is Bitcoin an imploding ponzi??...

    Quote Originally Posted by laidback View Post
    (Face the fact that mucking around in the crypto space is speculation, as is a lot of stock/bond/future/commodity "investing")
    I found quotes in this story rather timely.

    Quote Originally Posted by Jason Zweig

    Nobody wants to be told that the best strategy is simply to save more and spend less.

    The same pattern of purportedly low-risk strategies leading to a jolt heartbreak has often repeated over the years, especially among investors who should know better

    Investors Piled Into This Magical Money Machine. Now They’re Stuck. - WSJ
    Investment Firm Halts Redemptions on $1.8 Billion Fund - WSJ
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  10. #107
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    Re: Is Bitcoin an imploding ponzi??...

    Much of this reminds me of offshore gambling and trading sites. Most people end up losing on their own so one way pockets seldom matter.

    Quote Originally Posted by Business Matters

    Only invest an amount you are willing to lose

    Are Crypto Trading Brokers Scam?

    Quote Originally Posted by Anton Tarasov
    Furucombo’s hack is another reminder for DeFi users to seriously consider contract security and not use money in new protocols that they can’t afford to lose.

    DeFi Transaction Bundler Furucombo Hacked for $14 Million | Crypto Briefing
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  12. #108
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    Re: Is Bitcoin an imploding ponzi??...

    Quote Originally Posted by Nick Marninoff

    From there, the suspect posing as the landlord said that he would not need to meet them face to face. He also would not need any background information, nor would he have to engage in a credit check of any kind. All he would need was a $2,000 bitcoin payment. This would be enough to get them into the house quickly.

    Bitcoin Scam Leads to a Family's False Relocation | Live Bitcoin News
    Rental Scams: How to Spot Them & What To Do | Avail

    Keys to avoiding home rental scams | FTC Consumer Information
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  14. #109
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    Re: Is Bitcoin an imploding ponzi??...

    Quote Originally Posted by laidback View Post
    A lot of people in the crypto space use vpn's to be able to go to exchanges offshore because they can't get the products and services they need due to stifling US regulations. While those regulations are supposedly set up to protect US consumers, they also throttle many opportunities available to non-US speculators.
    I'm wonder sometimes what it would look like if the SEC only served in an educational capacity rather than a regulatory one. It's safe to say that if an investment is mass marketed to US citizens is not registered it is being offered illegally; but just because it is registered doesn't mean it's hanky panky free. The SEC missed Madoff for better than a decade, and plenty of scammers claim the SEC would have shut them down if they were breaking the law. Even public accounting firms seldom do more than resign after a scam has become painfully apparent.

    There's been a decades long push by the US Government to perpetuate moral hazard using tax dollars and unlimited debt to back stop losses. The S&L Crisis of the late 80s and the Housing Crisis of the 2000s come to mind. It's hard to conclude this coupled with ZIRP hasn't created endless scams and shady investments that the SEC is ill equipped to pursue.

    It's easy enough to say if you send your money offshore you can expect to lose it, and we aint helping. Probably wouldn't cost the taxpayer more than a few million for the government to pay some contractor to post that on a website somewhere. Onshore it's a bit more nuanced, and I'm mixed other than to say the current model of light for owners and no sentences for promoters doesn't seem to make a dent.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  16. #110
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    Re: Is Bitcoin an imploding ponzi??...

    Democracy is the theory that the common people know what they want, and deserve to get it good and hard.

    H. L. Mencken - Democracy is the theory that the common...

    Quote Originally Posted by Sebastian Sinclair

    The draft plan had suggested new crypto investors should have a 1 million baht ($33,000) minimum annual income, a minimum age limit and proven trading experience. However, the proposal was heavily criticized for effectively barring investors with low or middle incomes and those wanting to get involved in trading, per the report.

    Thai SEC Backtracks on Unpopular Proposal for New Crypto Investor Qualifications
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  18. #111
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    Re: Is Bitcoin an imploding ponzi??...

    This sounds like the kind of crap Simon Stepsys peddles.

    Quote Originally Posted by Mark Pygas

    British Bitcoin Profits appears to run under multiple different names. Websites for British Bitcoin Winners and Bitcoin Revolution are identical to the British Bitcoin Profits website, with slightly adjusted logos.

    British Bitcoin Profit isn't authorized to operate in the U.K.

    In 2020, the FCA (Financial Conduct Authority) in the U.K. warned investors against using British Bitcoin Profit. The FCA stated that the company was providing financial services without authorization. "Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us," the FCA wrote. "This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation."

    Investors who use unauthorized firms don't have access to compensation schemes designed to protect consumers. "If you use an unauthorised firm, you won’t have access to the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) so you’re unlikely to get your money back if things go wrong," the FCA explains.

    Is British Bitcoin Profit a Scam? The Company Has Run Fake News Ads
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  20. #112
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    Re: Is Bitcoin an imploding ponzi??...

    Such a pleasant and reassuring lad.

    Quote Originally Posted by Me
    Could you please provide me ID of members on my team
    Quote Originally Posted by efundsrecovery101@gmail.com
    Hi Jack,
    This is a kind of confusion because the last conversation I could recall you needed the company's Bank details earlier and now you need members I.D ? I believe we have diligently walked you through the process as much as possible. When and if you decide to proceed kindly let us know, Otherwise I wish you all the best of luck.
    Quote Originally Posted by Me
    Piss off scammer.
    Quote Originally Posted by efundsrecovery101@gmail.com
    Highly disappointed in your remarks.
    Quote Originally Posted by efundsrecovery101@gmail.com
    Your attitude might not lead to a speedy recovery of the funds. Are you aware that the longer it takes the more difficult it is to retrieve BTC ? Simply because the BTC might have been sent to several other addresses and the process takes a few more hectic issues.
    Quote Originally Posted by efundsrecovery101@gmail.com
    Our company and it's mother company FIS eAccess have unprecedented integrity in this line of work and we deliver as promised
    Hackers shifting from exchanges to DeFi projects
    Cryptocurrency theft on the rise
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  22. #113
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    Re: Is Bitcoin an imploding ponzi??...

    Why bother working?

    Quote Originally Posted by This week in Twitter Hacks
    Cryptocurrency scammers have made at least $145,000 this week by promoting fake giveaways through hacked verified Twitter accounts

    Twitter scammers earned over $145k this week in Bitcoin, Ethereum, Doge
    https://twitter.com/ripple/status/13...091201?lang=en
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  24. #114
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    Re: Is Bitcoin an imploding ponzi??...

    I'm not sure why this has to be a "greater challenge" for the government/taxpayer to undertake. People want a free market solution and should be allowed to create one. There is no reason private insurance couldn't cover the cost of crypto losses.
    If people willingly wire crypto to Cameroon what do they suppose will happen?

    A common trope is that Bitcoin is an alternative to the fiat currency printed by governments around the world. Bitcoin Is Trading at a 46% Premium on Luno Nigeria - CoinDesk Some percentage of crypto investors seem not want Uncle Sam's brand of help.

    Quote Originally Posted by Gary Gensler
    President Joe Biden’s pick to head the Securities and Exchange Commission (SEC), told Congress Tuesday that the “greater challenge” in bitcoin and cryptocurrencies is protecting investors.

    “Some markets have been really rife with fraud and scams,” Gensler told the Senate Banking Committee in his nomination hearing.

    Elmo.jpg

    Biden’s SEC pick: Some crypto markets ‘rife with fraud and scams’
    Personally I like the risk mitigation of trading on regulated exchanges, protection paying with a credit card, and having insurance against being hacked. Certainly they come with a price, but my only risk is that of making stupid purchases/investments of which there are many.



    Quote Originally Posted by Tokenpost
    A separate report by the blockchain investigations firm Chainalysis revealed that cybercriminals concentrate their cryptocurrency money laundering activities on a few online services. The company revealed that 55 percent of money laundering activating involving cryptocurrencies was coursed through only 270 crypto addresses in 2020. Cybercriminals usually use online gambling platforms, high-risk (low-reputation) digital currency exchanges, financial services located in high-risk jurisdictions, and cryptocurrency mixing services for money laundering purposes.
    More than two-thirds of crypto crimes in 2020 come from scams and frauds - TokenPost
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  26. #115
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    Re: Is Bitcoin an imploding ponzi??...

    Greater Challenge = Impossible Boondoggle.

    Quote Originally Posted by Jeff Benson
    On March 1, a Bitcoin address sent 5 BTC to a verified scam address. The address, 1EMuskYdgB3BtwxpEP46txN5EAN8KnA7dE, is associated with a fake Elon Musk website, Tesla Promotion that promises to return double any amount of Bitcoin it receives between 0.1 and 10 BTC.

    While it’s unclear whether the sender is a victim of the scammer or in cahoots with them (e.g., the scammer transferring money between wallets), it’s a gentle reminder that the Tesla CEO isn’t here to make you rich.

    Someone Sent $243K in Bitcoin to an '''Elon Musk''' Scam Wallet Address - Decrypt

    Quote Originally Posted by '''Elon Musk''' Scam Wallet Address
    Transactions 19
    Total Received 9.07427213 BTC
    Total Sent 9.07427213 BTC
    Final Balance 0.00000000 BTC

    Address: 1EMuskYdgB3BtwxpEP46txN5EAN8KnA7dE | Blockchain Explorer
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  28. #116
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    Re: Is Bitcoin an imploding ponzi??...

    Much of this quote is taken from Ponzi Scheme | Investor.gov. Unfortunately too many people wrongly assume that because they are being paid that the deal is legit. By the time difficultly receiving payments come to pass you've been had.

    Quote Originally Posted by Kingsley Napley

    Scam firms are known to suddenly close consumers’ online accounts and refuse to transfer the funds to them or ask for more money to cover ‘fees’ or ‘taxes’ before the funds can be transferred.

    Ponzi schemes continue to make up a high proportion of crypto asset scams. They are a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. There are several markers which can be used to identify a potential Ponzi scheme, including:

    High returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any “guaranteed” investment opportunity.

    Overly consistent returns. Investments tend to go up and down over time. Be sceptical about an investment that regularly generates positive returns regardless of overall market conditions.

    Unregistered investments. Ponzi schemes typically involve financial services firms and individuals not authorised by the FCA (or respective regulator in the country in which they are based).

    Secretive, complex strategies. Avoid investments if you don’t understand them or can’t get complete information about them.

    Issues with paperwork. Account statement errors may be a sign that funds are not being invested as promised.

    Difficulty receiving payments.

    Another common scam is to present a new crypto asset as an alternative to Bitcoin. The idea is that it’s too late to cash in on Bitcoin and that you need to invest in one of these up-and-coming crypto assets.

    Current trends in fraud: Crypto scams - Lexology
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  29. #117
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    Re: Is Bitcoin an imploding ponzi??...

    I'm shocked.

    Quote Originally Posted by Arnab Shome
    Most of these scams are originating on the popular social media platform Instagram, where the scammers create a persona of luxurious life achieved from the wealth created with cryptocurrency investments. These profiles try to emulate profiles in the United States or Europe, but in reality, they were created in Nigeria.

    Crypto Scams Are Going Rampant in Nigeria | Finance Magnates

    The social media platforms are at a minimum morally complicit in allowing these scams to flourish. You can report posts violating TOS until your fingers bleed with no results, but let a scammer whine about someone using their image under "Fair Use" and all of these platforms piss on themselves like scared puppies to scrub those posts.

    Quote Originally Posted by Alyssa Hertig

    Instagram's role

    Altogether these scams are raking in tens of thousands of dollars’ worth of crypto a month, Whitestream determined.

    “The Instagram platform creates fake reality for young investors who are bored during the COVID-19 situation, and they are losing their savings because of these fake, imaginary accounts,” Levy told CoinDesk.
    Read more: ‘Crypto Instagram’ Is Becoming a Thing, Scams and All

    Whitestream CEO Itsik Levy argues that Instagram and its parent company, Facebook, have a duty to stop these scams. The accounts have already been flagged as scams – but there’s nowhere to turn to get them taken down.

    Whitestream Identifies Multiple Crypto Scams in Nigeria - CoinDesk
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  31. #118
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    Re: Is Bitcoin an imploding ponzi??...

    Hard to Pin Down= Your $$$ has flown the coup.

    Quote Originally Posted by Andrew Burnett

    What follows is a story in which Beaumont claims she invested “almost $40k” with Brown in 2019 for cryptocurrency trading,after meeting him several times at the Vegas poker tables.

    However, a few months later, Brown became hard to pin down, and with her investment having fallen to $27k Beaumont tried to cash out, and that’s where the problems began.

    Poker Pro Accused of $170,000 Bitcoin Scam - PokerTube
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  33. #119
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    Re: Is Bitcoin an imploding ponzi??...

    Advertorials for advance fee scams offer such a quaint touch to losing twice.

    101 Reviews How to Recover Lost Bitcoin [Scammed/Stolen Funds]: The Most Effective & Exclusive Lost Funds Recovery Agency. -

    Quote Originally Posted by info@fundsrecoverysociete.com

    All our services are available based on an a retainer model. When we onboard you as a new client, we charge an initial retainer, which is almost always sufficient for a successful resolution of the case.
    In addition to a retainer, we charge a percentage contingency fee on funds recovered.
    Our Services- Lost Money Recovery Services | Recover Money Lost to Binary Options
    Quote Originally Posted by info@fundsrecoverysociete.com

    Address

    17 Cours Valmy, 92987 Puteaux, France.


    We have fought against Binary Options and cryptocurrency giants in federal courts using orthodox and unorthodox solely to be able to help crypto, binary options and forex scam victims like you.

    About Us- Fund Recovery Services | Find Lost Money | Lost Funds
    Quote Originally Posted by Negative highlights from ScamAdvisor

    The website's owner is hiding his identity on WHOIS using a paid service

    This website has only been registered recently.

    This website does not have many visitors
    We found many low rated websites on the same server
    We detected cryptocurrency services which can be high risk

    We detected services around money recovery which are often scams

    https://www.scamadviser.com/check-we...erysociete.com

    How to Avoid Being Scammed by Asset Recovery Companies
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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    Re: Is Bitcoin an imploding ponzi??...

    If I was going to trade Crypto it would be Polkadot, the name makes me giggle. Market orders in all but the most liquid vehicles...

    Quote Originally Posted by coindesk

    A user, who held a large position, put a single stop market order in the market, which triggered this needle,” a Binance representative told CoinDesk in an email

    Binance Pledges New Controls After 99% ‘Flash Crash’ in Polkadot Futures
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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    Re: Is Bitcoin an imploding ponzi??...

    Random Musing Post

    I most closely align myself with the Libertarian philosophy, although some of the extreme thinking I find a tad whimsical. The free market is the best system for allocation of investment capital, meting out justice maybe not so much.
    Bitcoin (technology aside) is a throwback to a less efficient time as a means of exchange. Bank Runs effectively no longer exist, although the FDIC program is a mess. Stock Manipulation still occurs, but some practices like watering stock are virtually non-existent.

    Anyhow, some interesting points in this article...

    Bitcoin could prevent society from functioning and is an ‘extreme form of libertarian anarchism,’ warns this fund manager - MarketWatch


    Who could see this coming?

    Quote Originally Posted by Jonathan Stempel and Chris Prentice
    McAfee and Watson allegedly engaged in a scheme to exploit the "broad reach" of McAfee's Twitter account by buying cryptocurrency assets, concealing a plan to liquidate them and then selling most quickly after his endorsements boosted prices, the CFTC said in a court document filed on Friday. Antivirus software pioneer John McAfee indicted for cryptocurrency fraud - U.S. officials
    Or this?

    Quote Originally Posted by Chris Dolmetsch
    The 29-year-old founder of a defunct Florida cryptocurrency firm will spend eight years behind bars for duping investors out of more than $36 million with the help of celebrities including boxer Floyd Mayweather and music producer DJ Khaled, whom he paid to promote the business.Bloomberg - Are you a robot?
    A reversed pension is your greeter job at Walmart?

    Quote Originally Posted by Charlie Osborne
    Haven't heard this before.

    Quote Originally Posted by ai-cio
    According to the new indictment, Start Options claimed to provide cryptocurrency mining and digital-asset trading services, including trading in cryptocurrencies, commodities, stocks, and indexes.
    Cryptocurrency Firm Founder Indicted in Alleged Multimillion Dollar Scam | Chief Investment Officer
    All of the above are mostly consenting adults making poor choices.


    Here not so much...

    Quote Originally Posted by Ian Allison

    However, in the case of CSEM-(child sexual exploitation material)related crypto, Sanders is conducting his investigation on a pro bono basis, that is to say, not on anyone’s behalf.

    In regards to this investigation, he’s publicly calling out Huobi, OKEx, both high-ranking exchanges, and a smaller outfit called MorphToken for being unresponsive and unhelpful when presented with evidence of CSEM flowing in from the dark web.
    https://finance.yahoo.com/news/block...195505482.html
    A cogent argument can be made governments around the world have failed miserably to protect children. Has the free market proved any better, what would a free market solution look like? A free market solution might be for people to stop dealing with these exchanges, although with people like Jeffery Epstein it's hard to think a regulated Wall Street is any less complicit.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  38. #122
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    Re: Is Bitcoin an imploding ponzi??...

    I mean why not?

    Quote Originally Posted by coindesk

    There are signs the hack was in fact an exit scam, according to reports.
    DeFi Project Meerkat Raises Eyebrows With Claimed $31M Hack a Day After Launch - CoinDesk
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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    Re: Is Bitcoin an imploding ponzi??...

    Conflicting information from the IRS, say it isn't so.

    Quote Originally Posted by Daniel Kuhn

    The IRS has sent conflicting messages to U.S. crypto holders several times in the past. Most recently, an updated FAQ page indicated that investors who simply bought “virtual currency with real currency” would not have to report that transaction on this year’s tax returns.

    Still, cashing out crypto or making every-day purchases is typically seen as a taxable event. Operation Hidden Treasure is designed to find, trace, and attribute such transactions to taxpayers, Schenck said.

    IRS Initiates ‘Operation Hidden Treasure’ to Root Out Unreported Crypto Income
    Quote Originally Posted by Alessandra Malito
    The IRS won’t call or email you

    Keep in mind, the IRS will only notify a taxpayer of any issues via U.S. mail after Tax Day (April 17) and never by email or phone. If someone receives an email or call from someone claiming they owe more in taxes, that person is likely a scammer, but don’t hang up on them. You’ll want to try to find out if they have sensitive information about you, like your Social Security number.

    In that case, the taxpayer should alert the IRS that he or she is a victim of identity theft. They should never follow through with instructions by phone or email to wire money to another bank account. This year, taxpayers should be extra vigilant because last year’s Equifax EFX, 2.77% security breach revealed sensitive information of more than 145 million U.S. adults, which could be used to file returns and siphon refunds.

    What to do if the IRS makes a mistake - MarketWatch
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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  42. #124
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    Re: Is Bitcoin an imploding ponzi??...

    Somewhere in these two sites is a guy that lost his entire life savings. Unfortunately both seem more interested in explaining their cookie policy than educating the public.

    Gardai warn of 120% increase in investment fraud scams during pandemic

    Cork victim of €30k Bitcoin scam as Gardai issue warning on Lockdown fraud boom - Cork Beo



    Quote Originally Posted by KitchenerToday Staff

    While several scams involve the use of Bitcoin, the following examples involve fraudsters making telephone calls and posing as agencies like Service Canada, Service Ontario, Canada Revenue Agency (CRA), and/or law enforcement agencies. In recent reports, fraudsters posed as the Canadian Immigration Office.

    In several instances, victims reported that the fraudster requested they provide a local police Service number so they could share details of the investigation. Victims then reported that they received a call from what appeared to be the Waterloo Regional Police non-emergency phone number (519-570-9777). This is a form of spoofing- fraudsters will attempt to disguise a phone number from an unknown source as being from a known, trusted source, in efforts to make a financial gain.

    Police issue warning about Bitcoin scams - KitchenerToday.com
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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    Re: Is Bitcoin an imploding ponzi??...

    I'll reiterate this isn't an investment site and my focus has always been to crap on people's dreams with a little wit for my enjoyment.

    With that said if you are going to speculate; options(at a legitimate broker) can be a way to limit the risk of ruin. Especially if you're trading on borrow money. If nothing else options are slightly less dumb than trusting your life savings to someone telling you they're a genius trader/miner.

    If someone was going to buy 1 BTC for $50,000 with BORROWED MONEY they could instead buy a single Call or Call spread matching their time frame for a fraction of the price. This would limit their risk and depending on structure of the trade their potential gain. If BTC went to 0 they would only lose the cost of the option. If someone were to take $50,000 and load up on options consider the Vanuatu spread. This is a gigantic one way bet coupled with a ticket to Vanuatu. If you win stay and collect, if you lose go catch your flight.

    There are of course drawbacks to options, namely the cost of the premiums eat into any gains, the spreads to buy and sell can be very wide, and they expire on a set date.



    Quote Originally Posted by Ollie Leech and Lawrence Lewitinn
    The world’s largest crypto options platform, Deribit, settles crypto options contracts in cash, while the second-largest crypto options exchange, OKEx, physically delivers crypto assets to investors upon exiting a trade. For example, when a trader successfully exits a bitcoin option trade on OKEx, they receive their profits in bitcoin at settlement.

    Crypto Options Trading, Explained
    Quote Originally Posted by Yogita Khatri
    Deribit appears to be taking extra caution with its upcoming mandatory verification plan, although the Panama-based exchange does not allow U.S. residents to trade on its platform.

    "Over the years, we have been quite vigilant in blocking account openings by U.S. persons," Jansen told The Block. "We perform IP access checks on a regular basis, and, actually, we continue to do this as we speak."

    Indeed, earlier today, some users highlighted that they received a notice from Deribit, saying that they could be located in the U.S., and thus aren't allowed to access the platform. "These users could be from the U.S., or at least from an IP known to us as a U.S. IP," said Jansen.Deribit to mandate ID verification for all traders before the end of the year
    Quote Originally Posted by OKEx

    does not offer its services to citizens of the United States.

    Cryptocurrency Exchange | Buy Bitcoin | Bitcoin Exchange | Crypto Exchange | OKEx

    Back to your regularly scheduled scam warnings.

    Broker Scams: The '3 Rs' To Follow Before Departing With Your Cash - Commodity.com

    Options and trading in general (along with gambling sites) set up the perfect scam. Most people will lose on their own and if they do win too much simply refuse to pay long enough to set up a new website.
    Of course most speculators lose even in legitimate ventures because their timing is wrong and/or they lever up and are forced to sell at the worst possible time. Again, I'm in no way telling anyone what they should do with their money. Although one can surmise there are plenty of things they shouldn't be doing with it.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

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