Fake Ponzi Scheme Reportedly Raises $100K in a Bid to Boost Awareness

Popular cryptocurrency influencer and a well-known member of the community – FatManTerra – took it to Twitter to reveal that he deliberately created a fake Ponzi scheme to raise funds.

The initiative supposedly saw upwards of $100,000 worth of BTC in investments.

The influencer said:

In two hours, I received over one hundred DMs. I raised 3.45% BTC from Twitter and 2 BTC from Discord – over $100k, with more requests flooding in by the minute.

The original tweet that promoted the fake scheme read:

Received access to a high-yield BTC farm based on a private carry trade operated by an up-and-coming fund. I’ve maxed out what I could, so there’s some leftover allocation and I thought I’d pass it alonge – priority will be given to UST victims. DM for more details if interested.

FatManTerra said that he is getting tons of messages and that it was “far too easy to scam people in crypto.”
Ultimately, he revealed that this was a fake scheme and that his goal was to raise awareness.

While I used plenty of buzzwords and put on a very convincing act on all platforms, I made sure to keep the investment details intentionally obscure – I didn’t name the fund and I didn’t describe the trade – no one knew where the yield was coming from. But people still invested.

The influencer also said that everyone who sent money has been fully refunded and that there hasn’t been any investment.

Risk-free high yields don’t exist.

Yet, some are calling him out for his tweets, arguing that he was actually trying to scam people and that he got cold feet in trying to do so.

The post Fake Ponzi Scheme Reportedly Raises $100K in a Bid to Boost Awareness appeared first on CryptoPotato.

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