Crypto scams and no end... ???



Everybody in the crypto "space" knows about them and even newbs pick up quickly on the dark side of crypto because especially the newcomers are especially targeted by big scams as well as small time crooks on social media.

But every now and then the sheer humongous dimension of some of these baffle even the more seasoned cryptonauts.

One of these examples surely is the "OneCoin" international scam that broke the worldwide records in staggering numbers at around 3,7 billion US dollars.

Compared to other dark sider's in the space this is a number that isn't topped easily.

The so called "next Bitcoin" or "Bitcoin killer" put 18 of their responsible people in jail so far with their most colorful personality Dr Ruja Ignatova still on the run.

Source BBC: Dr Ruja Ignatova persuaded millions to join her financial revolution. Then she disappeared. Why? Jamie Bartlett presents a story of greed, deceit and herd madness

Check out the latest conviction in this drama right here via

Size matters... hahaha!

Tbh... I played around with a few of the obvious big scams in 2017. Never did that multilevel marketing stuff or shill link thing. Got out of them early enough to get my money back tho... but now profit. It was as simple as that, if you weren't willing to make extra $$$ by affiliate link shilling you made significant less than the big guns in that game.

Nevertheless I believe this had to happen in this crazy market to weed out at least some some of the worst actors in there!

So what do you think about this monster of a scam?
Did you fall prey to any crypto scams?

Let me know down in the comments!


Comments 9

I have never really personally been a victim but I certainly heard a lot of btc scams here.The most famous is a couple who invested their whole retirement fund on a btc venture.

I feel so sorry for them.The husband needed to go back to work after.

26.11.2019 10:38

Dear @doifeellucky

Another yet interesting publication. It kind of reminded me of "bitconnect".

One of these examples surely is the "OneCoin" international scam that broke the worldwide records in staggering numbers at around 3,7 billion US dollars.

I'm not familiar with this project. I wonder if OneCoin has been "planned" from the beginning to scam money out of it's investors. Or perhaps they had good intentions and half way they figured out that their promises cannot be delivered and money has been already spent.

Please consider joining our "project hope" telegram channel and sharing your publications with us. It would always be much easier to reach out to our audience if you do that.

Topics related to blockchain and AI are very close to our interests.

Solid upvotes on the way :)
Yours, Piotr

26.11.2019 10:52

Hello Piotr,

well as far as my research into OneCoin had shown me... yes there was a clear intention of scamming right of the bat and there have been many proofs unearthed meanwhile to document this quite impressively.

In my book there's of course always a fine line between good intentions and good and honest execution.

The good and the bad divide clearly at the point were the amount of stupidity that you would have to assume in favor of an bad actor becomes unreasonable. There might be some that realize to late that their good intention goes south... but there are always chances to pull a plug before to many get hurt badly.

Sadly we had and we still have a lot of reckless characters in crypto.

Addressing some of the most nasty and impactful bad projects and crooks in the ICO wave of 2017 and before by looking at these though the securities viewing glass was a good start imho.

Bitconnect surely being the most prominent scam project I also was surprised to learn that the total damage of OneCoin with 3.7 billion was much more than the assumed losses for bitconnect "investors" with about 2.6 billion in total loss.

Yep Piotr, I'll take the time to look into the telegram server you guys have set up when I get to it! Sooo much on my plate rn.! ;-)))


26.11.2019 20:35

It's because of this kind of "people" that cryptocurrencies are so unreliable. With the promise that you will become a millionaire overnight everyone is dazzled and falls for the scam. Many people lose their savings.

I also have been a victim of the scams and it is not that I invest a lot of money in blockchain projects, I barely have enough to survive, but like everyone else, I also fell for that kind of deception. I bought 2 million BAT tokens for only $1.75. An amazing deal. They turned out to be BASS Tokens, whose value is zero.

I still have them... 😝

26.11.2019 11:07

Awe... sorry to read of your misfortune with those BASS tokens. Yep, even seasoned cryptonauts can get caught up in scams, data breaches and hacks.

It's wild out there!

But I'm afraid the possibilities for getting screwed aren't going to be lesser in the future!

  • So, it always stays true imo... DYOR and do it thoroughly!
  • If you can't invest the time to be sure that something is kosher than don't invest.
  • If it looks too good to be true... well... walks like a duck talks like a duck... it's probably a scam!
  • ...also, think a little about OpSec on a regular basis.
  • Secure your wallets and keys,
  • make sure your equipment is up for the tasks at hand
  • and try to stay up to date with your stuff (mobiles, desktops, laptops, tablets, smart tv's and so on).
  • Try to stay informed which old and new threats and vulnerabilities are out there and that you are safe from them (again updates or other means of mitigation like firewalls and so on)

...quite frankly when I look at this list that is on no level complete tbh... that's a lot! Especially for n00bs.


26.11.2019 19:37

That's a great list!


28.11.2019 09:50

Your very welcome!

28.11.2019 11:48

Hello my dear @doifeellucky

However I believe this had to happen in this crazy market to weed out at least some of the worst actors in there!

Wooo friend, amazing all this. There is a passage in the Bible that says: "All things help those who love the Lord well" or as they say, that is a necessary evil.

All this shows how these types of scammers act and took advantage of the inexperience in this market to scam the seized or inexperienced people, and helps us to be more careful when investing.

Thanks friend!

27.11.2019 13:04