that idea that one can earn a lot of money by just doing nothing, just give them your money and wait for your profits to come to you with no hassles whatsoever until the scheme collapse and nobody will be paid anymore.these people must be so desperate or stupid or both to still believe that in today's time you can earn easy money it is high time that people stop believing we can earn without having to work hard for it money does not grow on trees!!!! nor does it fall from the sky stop hoping for it
I hate it when the media describes something like this as a "crypto scam" when in fact the scam is just using crypto for pay for exchange of funds...hey we don't call a scam as a "dollar scam" when similar schemes are using the dollar, right?probably they are just including it because many are not familiar with crypto and they want to specify and discuss what is crypto and how was it used for a scam however the negative side of specifying this as a crypto scam is since many people do not read actual articles and just depend on headlines, they will now associate crypto with scams and specifically ponzi schemes it used to be worse back then where every crypto project was classified as a ponzi scheme
The court’s decision follows an earlier consent order from August 2023, which permanently banned Ichioka from trading in markets regulated by the CFTC and prohibited him from registering with the commission in the future.
I hate it when the media describes something like this as a "crypto scam" when in fact the scam is just using crypto for pay for exchange of funds...hey we don't call a scam as a "dollar scam" when similar schemes are using the dollar, right?
~snip~
In my own opinion, there is a need to revisit the laws against scams and increase the penalties x10 to serve as one of the best warnings to perpetrators to think x100 before victimizing people and their hard-earned money. On the other hand, I am just wondering...does the USA has an effective education program for people to understand well how to avoid these scams and not lose their money?
I hate it when the media describes something like this as a "crypto scam" when in fact the scam is just using crypto for pay for exchange of funds...hey we don't call a scam as a "dollar scam" when similar schemes are using the dollar, right?Currently, crypto market information is readily available on the internet. Investors can easily read up on it or participate in crypto forums to receive valuable advice from experienced investors. However, their greed remains unchanged, and they easily fall prey to Ponzi schemes.
In my own opinion, there is a need to revisit the laws against scams and increase the penalties x10 to serve as one of the best warnings to perpetrators to think x100 before victimizing people and their hard-earned money. On the other hand, I am just wondering...does the USA has an effective education program for people to understand well how to avoid these scams and not lose their money?
---It's the media, remember. ;) I mean they've been using the term "crypto scams" for quite some time already, and as much as I want to say there's no negative effects of it, it seems like there's no negative effects of it in reality. I mean adoption is increasing, investors now are more intelligent than ever, and I believe people can make a simple research about it as well.
This is the case of the case of William Koo Ichioka, a New York resident, who has been fined over $36 million plus another $5 million and 48 months of jail time (https://cryptonews.com/news/federal-court-fined-new-york-man-36-million-for-crypto-fraud/) for orchestrating a fraudulent cryptocurrency and forex investment scheme that promised unrealistic returns.
I hate it when the media describes something like this as a "crypto scam" when in fact the scam is just using crypto for pay for exchange of funds...hey we don't call a scam as a "dollar scam" when similar schemes are using the dollar, right?
---
does the USA has an effective education program for people to understand well how to avoid these scams and not lose their money?
This paints a bad image on cryptocurrency. I think its time to have a law against media that gives false information about cryptocurrency. its very prevalent here in our country, which is why so many people are ignorant on what Cryptocurrency because of the bad image these media are putting on Cryptocurrency.
I hate it when the media describes something like this as a "crypto scam" when in fact the scam is just using crypto for pay for exchange of funds...hey we don't call a scam as a "dollar scam" when similar schemes are using the dollar, right?
In my own opinion, there is a need to revisit the laws against scams and increase the penalties x10 to serve as one of the best warnings to perpetrators to think x100 before victimizing people and their hard-earned money. On the other hand, I am just wondering...does the USA has an effective education program for people to understand well how to avoid these scams and not lose their money?
They need to do a better job looking for these scams and taking action since it is very often that they are posted publicly.I don't think the government is going to go around looking for these ponzi criminals, even if they eventually get them, it will be after they must have scammed people. The victims should also do better and stop allowing their greed to get the better of them, these criminals are having a field day out there because they know that there are gullible people who will fall for their schemes.
but the state should be the one to prosecute these scammers even if the complainants retract their complaints.I think some people would argue that the risk of such a method being abused is higher. Are there cases of scammers getting away because a victim stops their complaints though? If we're talking about ponzi scheme or something similar I'm sure there'll be tons of victims ready to file other complaints against the scammers. I'm all for stopping scammers from getting away due to sloppy laws, so I'd like to see a better approach to take them down if getting a report is such a huge issue.
The victims should also do better and stop allowing their greed to get the better of them, these criminals are having a field day out there because they know that there are gullible people who will fall for their schemes.While the governments can't guarantee anything, they should at least provide abundant educational resources so people can learn how people scam and avoid them.
I hate it when the media describes something like this as a "crypto scam" when in fact the scam is just using crypto for pay for exchange of funds...hey we don't call a scam as a "dollar scam" when similar schemes are using the dollar, right?Using the word crypto scam is not an issue in my opinion it's also the marketing of crypto, even if in a negative way. I know we don't need such marketing of crypto, but there are scams been happening in crypto and we can't deny that. But if the Ponzi Scam happened in forex currency and the exchange was only happening in crypto, then calling it a crypto scam is wrong and it should be called as forex scam instead.