• Two crypto influencers took advantage of users‘ FOMO, bagging over $1.8 million in a week in crypto scams.
• One influencer offered nothing but still took in $1.5 million, while another impersonator promised unrealistic returns and made away with the rest.
• Crypto scams are on the rise and users need to be aware of the risks associated with them.
Crypto Scams on the Rise
Crypto scams are becoming increasingly common, as crypto influencers use their influence to entice users into investing in fraudulent projects or schemes. Such was the case recently when two crypto influencers made off with a combined total of over $1.8 million in just one week by taking advantage of user’s FOMO and lack of due diligence.
Pauly0x Offers Nothing But Makes Millions
On May 30th, Crypto influencer Pauly0x, founder of NotLarvaLabs, shared his Ethereum address and domain on Twitter asking users to send ETH without offering anything in return for it. Despite explicitly stating that he would not provide any form of compensation for sending funds, many users sent ETH anyway out of fear they’d miss out on an opportunity due to their FOMO. In just seven minutes, Pauly0x bagged $76 worth of ETH and continued to receive assets up until June 4th when he’d amassed over $1.5 million from unsuspecting users who thought they were buying into something special that he wasn’t openly offering them.
Jaredfromsubway Impersonator Promises Unrealistic Returns
On May 30th an imposter pretending to be legendary anonymous MEV bot trader “Jaredfromsubway” announced releasing a token that would share profits made by his bot which had allegedly earned USD 3 billion through Uniswap within one month alone. The scammer promised unrealistically high returns if investors bought into this scheme and unfortunately many people fell for it leading to him making off with more than $300k from naive buyers looking to get rich quickly without doing proper research beforehand.
Conclusion: Be Aware Of Scam Risks
As these events demonstrate, it is important for all cryptocurrency traders and investors to remain vigilant when dealing with any kind of investment opportunities – especially those proposed by crypto influencers – as scammers are always lurking around trying take advantage of people’s lack of knowledge or carelessness when trading online assets like cryptocurrencies or NFTs.
Stay Safe!
It is essential that you do your own research before investing in any sort of asset online – be it tokens or NFTs – and never trust someone else blindly as there might be sly individuals waiting behind the scenes trying to make a quick buck at your expense!