"Way Too Easy" - Crypto Researcher's Fake Ponzi Raises $100,000 in Hours
Crypto Twitter user FatManTerra explained that the fake investing scheme was being used to teach people a lesson about blind investing in crypto programs shilled by influencers.
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Crypto influencer FatManTerra claims to have raised over $100,000 worth of Bitcoin (BTC) from crypto investors as part of an investment scheme that was later revealed to be fake.
The crypto researcher said he created the fake investment plan as an experiment and to teach people to blindly follow the investment advice of influencers.
The Twitter account has around 101,100 followers and is best known for being a former Terra developer who is now actively speaking out against the project and founder Do Kwon after its $40 billion collapse in May.
In a Sept. 5 tweet, FatManTerra told his followers that he was "gained access to a high yielding BTC farm" by an unnamed fund, and said people can message him if they wanted to participate in the yield farming opportunity.
"I've reached the maximum of what I could, so there's still a remaining allowance and I thought I'd pass it on - priority will be given to UST victims. DM for more details if you are interested," he wrote.
While the post received a ton of negative responses from people calling it a scam, FatMan said he still managed to raise over $100,000 in BTC from the post initial on Twitter and Discord within two hours.
In a September 6 tweet, FatManTerra revealed that the investment scheme was fake from the start, describing it as an "awareness campaign" to show how easy it is to fool people into crypto by using simple buzzwords and promising big returns on investment. /p>
"While I used a lot of buzzwords and was very co...
Crypto Twitter user FatManTerra explained that the fake investing scheme was being used to teach people a lesson about blind investing in crypto programs shilled by influencers.
New
Crypto influencer FatManTerra claims to have raised over $100,000 worth of Bitcoin (BTC) from crypto investors as part of an investment scheme that was later revealed to be fake.
The crypto researcher said he created the fake investment plan as an experiment and to teach people to blindly follow the investment advice of influencers.
The Twitter account has around 101,100 followers and is best known for being a former Terra developer who is now actively speaking out against the project and founder Do Kwon after its $40 billion collapse in May.
In a Sept. 5 tweet, FatManTerra told his followers that he was "gained access to a high yielding BTC farm" by an unnamed fund, and said people can message him if they wanted to participate in the yield farming opportunity.
"I've reached the maximum of what I could, so there's still a remaining allowance and I thought I'd pass it on - priority will be given to UST victims. DM for more details if you are interested," he wrote.
While the post received a ton of negative responses from people calling it a scam, FatMan said he still managed to raise over $100,000 in BTC from the post initial on Twitter and Discord within two hours.
In a September 6 tweet, FatManTerra revealed that the investment scheme was fake from the start, describing it as an "awareness campaign" to show how easy it is to fool people into crypto by using simple buzzwords and promising big returns on investment. /p>
"While I used a lot of buzzwords and was very co...
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