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Crypto Con Artists Hijack Legit Tokens in Multi-Million Dollar Telegram Ponzi Scheme
Crypto Con Artists Hijack Legit Tokens in Multi-Million Dollar Telegram Ponzi Scheme
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Scammers are upping their game—ditching shady meme coins for blue-chip crypto to fleece victims.
How the scam works:
Fraudsters lure investors with promises of unsustainable returns, using authentic tokens as bait. Once funds pour in, the operation collapses—leaving bagholders with worthless assets.
The twist? This Ponzi doesn’t bother minting junk tokens. It rides the credibility of established projects while draining wallets through Telegram’s unregulated channels.
Another day, another ‘innovative financial product’ in crypto. At least they’re keeping bankruptcy lawyers employed.
A large-scale over-the-counter (OTC) cryptocurrency fraud has been uncovered which took place through a telegram group, exposing a network of fraud that targeted high-value investors. Read More
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