The funds lost to cryptocurrency scams globally have tripled in 2019 compared to 2018, revealed a report by Chainalysis. According to the same report, investors world-wide have lost a shocking 4,3 billion US dollars and that includes the losses to the now infamous PlusToken and OneCoin cryptocurrency scams. There is, apparently, a steady increase of such scams run on Facebook, Twitter, Instagram and social media in general. Recently there was even a fake twitter ICO for Facebook’s stable coin project Libra, but the most prominent scams remain the PlusToken and OneCoin Ponzi schemes. “Over 2.4 million individual transfers were made to Ponzi schemes, a number that becomes even more incredible when you realize that the data above reflects just six individual Ponzi schemes in 2019,” the report also states. The size of these scams is just mind-boggling, as is the fact that they went for so long and grew this much before authorities finally went after them. And I still see people defending OneCoin, I just don't get it.
Simple, when someone becomes a cultist, all logic goes out of the window. Forget about scams, BTC alone is a scam due to tethers being used to manipulate its price. if BTC was traded only with real $, it would be significantly lower.
Easy come, easy go. Take a look at Youtube livestreams and how easily people drop money for nothing. I figure BTC users are in the same cultural class. Middle classes in western countries like to complain but most still have ridiculous amounts of disposable income.
I keep thinking that with the OneCoin people the reason for that reaction is simple pride. They're too proud to admit they got scammed like everyone else.
it can be traced just not worth the time and effort for police as people willingly and knowingling transferred money. you buying an intangible product. these people knew what they were buying. hot air. bitcoin are not stocks, not currency, not options, it's like anything it's hot air you are buying. and no refunds.
Investors of the notorious OneCoin crypto scam, which attracted more than 4 billion USD between April 2014 and March 2018, have reached a settlement with Konstantin Ignatov, brother of Ruja Ignatova, dubbed the “Cryptoqueen” - alleged mastermind of to scheme.