Whereas April 1st is well behind us, cryptocurrency fraudsters continue to celebrate “Fool’s day” over and over again.
Would you like to invest in a watch you’ll never get, help the green economy and easily support 22 countries? Then you should be ready to bid goodbye to your money as the above-mentioned opportunities are claims made by some of the recently busted cryptocurrency scams.
FinanceFeeds’ managing editor who goes through regulatory complaints against such fraudulent schemes on a daily basis handpicked some of the most unbelievable and startling claims made by fraudulent cryptocurrency fraudsters. And, yes, I am aware that you have heard of all the new cryptos that promise to be better than Bitcoin, claim they are all “endorsed” by celebrities, and pledge high returns… Well, the claims in the “Top 5” (anti-ranking) that follows go the extra mile to defraud people, reminding us of the importance of sanity and healthy reasoning when it comes to investing.
- 5. The fifth position is for ZZZ Coin, which aims to combat volatility (via the power of sleep, apparently). Here is what the ZZZ Coin website says:
“A coin designed to fight against volatility on the cryptocurrency markets. A so called BurnTrust system will be implemented to reward burners, stakers and buyers as complex mathematical calculations being used to determine each user’s reserved rewards in conjunction with his actual SmartRanking. In addition ZZZ will be first token to offer as an option cryptographic trustless autonomous tumbling using linkable ring signatures into smart contracts to protect users privacy”.
- 4. The fourth position is taken by LeadInvest – an offshore entity that claims it is advised by Supreme Court Justice Ruth Bader Ginsburg and three former U.S. Solicitors General. Moreover, this cryptocurrency firm purports to be helping investors to support the green economy. One program offers investments tied to what LeadInvest calls its “own Green energy Bitcoin Mining Farm build out in Iceland.”
- 3. The third position is taken by cryptocurrency trading scheme 911MoneyStore, which offers its investors to (not) get a gold watch: “You will get an invoice stating you bought a gold Seiko watch that you’ll never get. And that’s your protection in the event somebody runs away.”
- 2. The runner-up is a cryptocurrency firm that reinvents the concept of geography. The CFTC warned earlier this month about virtual currency firm Bitsblockchain, offering investors to invest in a new virtual currency, ATM Coin (“ATMC”). On top of all of its aggressively promoted advantages, ATMC also claimed to have become a “supranational legal tender currency” for a purported sovereignty called the “Principality of Saint Stephen.”
- 1. The (anti-)winner is My Big Coin, which claims to be doing more for world peace and stability than all diplomats and politicians. Here is what My Big Coin’s managers say:
“I know you’ve heard of “Bitcoin” – after news gets out on MBC, you won’t hear of them again… We are in negotiations in 22 countries to stabilize their currencies and economies…”.
“I am on the phone with the prime minister of finance of Venezuela and 17 lawyers regarding the use of My Big Coin by the Venezuela government”.
The FinanceFeeds’ team advises readers to stay cautious with regard to all investment offers involving cryptocurrencies and to check with regulators whether an investment firm is authorized to offer the product it promotes.