A crypto influencer collects US$100K for a fake scheme, then returns it

A crypto influencer named Fatman Terra pitched a fake investment scheme on Twitter, where he found willing investors instantly.

Fast facts

  • “I received over a hundred direct messages in two hours,” he tweeted, saying that 99% of crypto projects are scams.
  • The publisher reported that he had raised over US$100,000 using 3.45 BTC from Twitter and 2 BTC from Discord.
  • Despite receiving money from the company, he said he refunded it all.
  • “Cryptocurrencies make it far too easy for people to be scammed. “We need to change this,” he tweeted.
  • His fake investment scheme did not provide a name for the fund, nor did he describe the trade or where the yield came from. Despite this, people still invested.

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