Scammers Pose as Government Agency in $13M Crypto Ponzi Scheme—Here’s How They Did It

Another day, another crypto scam—but this one had a bureaucratic twist.

Fraudsters impersonated a federal agency to swindle investors out of $13 million, proving that even 'official' stamps can't always be trusted in the Wild West of digital assets.

How the Scheme Worked

The operation mimicked regulatory legitimacy, luring victims with promises of government-backed returns. Spoiler: There was no FDIC for this 'investment opportunity.'

Why It Matters

Scams like this give regulators more ammunition—while reminding us that if a deal sounds too good to be true, it probably is (especially when it involves a 'government guarantee').

Stay skeptical, folks. The only thing growing faster than crypto adoption? The creativity of its grifters.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the shiba inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.