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Satish Kumbhani, who is accused of scamming people out of $2.4bn in a cryptocurrency Ponzi scheme, has disappeared while evading an American watchdog, a court was told this week. The BitConnect founder fled his home nation of India and went to ground in another country as the US Securities and Exchange Commission sought to …
Mr T Mangrove, of this parish, posted this a few weeks back - so good, I'm repeating it here in case you missed it:
The "amount defrauded" counter in the bottom right is... well, priceless I suppose.
Absolutely! Everyone with any sense knows to use Angie’s List. That way your hitman has been properly peer-reviewed. “⭐️⭐️⭐️⭐️⭐️ : quick, efficient, even cleaned up afterwards and cancelled the newspaper delivery so as to delay suspicion. Takes most major credit cards. Would use again.”
And this isn't cryptocurrency, it's a straightforward fraud. Had this guy said he had a bot that would trade on the stock market, it would have gone the same way.
I've said this before too, but a Ponzi scheme is a very specific kind of fraud. Cryptocurrency has seen a lot of fraudsters, often not doing a Ponzi-style fraud. Continually saying that it's a Ponzi scheme when it's a different one only makes it seem like you don't understand what Ponzi schemes are or what cryptocurrency is. It's as if I started calling all crimes burglaries; they would still be crimes and I'd still be correct that they're bad, but I wouldn't convince people because I'm continually using incorrect terms.
How coincidental- Today I received a package containing two sets of (licensed) fantasy coins, which were purchased at a not insignificant expense. One set is a gift, the other is joining my display of other fantasy coins that I've been collecting for a year or so. :)