Boiler Room Conspiracy
As we all are aware , the world of cryptocurrencies is full of Conspiracies and Scams. In fact, there is a conspiracy happening on a daily basis in crypto space, some of them get revealed & become popular while some remains a mystery. Reason being the popularity of Cryptocurrency and the potential earning comes with it. People see crypto space as a means of overnight success and everyone is trying to get their hands on major cryptocurrencies or some ICO's which can later become next big thing in crypto space.
At the time of writing this, Coin market capitalization stands at a whopping $162 Billion and rising like a star. Majority of cryptocurrencies are rising and investor's money in them also growing. This is the success of Cryptocurrencies but this success also attracts many conspiracies and scams.
Let's talk about the Latest Boiler Room Conspiracy which woke up many sleeping heads in the name of blind investment in crypto space.
Few days back, a group of crypto developers were trying to scam people in the name of cryptocurrency which never existed. This conspiracy or more like a scam was conducting in the Day light streets of London, U.K.
The thing was a group of people made some fake cryptocurrency project and whitepaper and they always tried to bug investors with their over the above profitable Crypto Schemes. Their power of persuasion was so strong that a large group of investors already invested in that project without even looking at the real project or the fundamentals of it. A whopping $205,000 had already been raised through that fake crypto currency model and more can also be detected once police investigate the situation further.A few years back a Boiler Room Scam also raised another $85 Million in the name of fake cryptocurrency.
British police arrested one of the members of the group which were running the fake crypto scam and he told police that he was just a junior member of that group. Although it hasn't been officially revealed but the senior members of that group are some popular faces in crypto space. That's what triggered the thought of conspiracy. In many cryptocurrencies social chat rooms or websites, it is also being speculated that the people involved in Boiler Room Scam were trying to raise fund through unfair means for a major crypto currency project which already exists in real world.
Now, there has already been so much speculation for the name of cryptocurrency for which Boiler Room Scam was conducting, but still in the end, they are all speculations and no confirmation hasn't released by London Police.
London Police Advice To U.K. Citizens
Although, London Police stated that the person arrested was already linked with various other scams and conspiracy to fraud in many crypto currency projects. London Police also advised all the U.K. citizens to be aware of these kinds of conspiracy and scams in the name of Cryptocurrency and always invest after inquiring enough about the crypto projects and it's genuity & fundamentals. There are a large group of fraudsters operating through shadows in London who are masters in the work of raising money in the name of next best cryptocurrency project.
Let's hope this Conspiracy gets revealed soon enough and this mystery gets resolved once and for all.
Thanks for reading !
Author @cryptonet
I think there are updates to control. Corp. Technology is complicated, and many basically it also does not know how to check basically anything about it. If we want freedom, I think we get bad with good. Good advice in this post, thank you.....
Thank you for sharing will resteem
this post hope you can do the same for me
you have my upvote
Keep smiling, reading, writing and voting!!!
@mannyfig1956
Informative 👍post thanks👌 to share💐
There are upsides to regulation I suppose. Crypto technology is complicated, and many get into it with little or no knowledge of even how to check fundamentals. If we want the freedom I guess we take the bad with the good. Good advice in this post, Thanks.
Certainly regulation, like most anything, has benefits and costs. Any regulation reduces freedom while (hopefully) reducing risk. One of the best things about the crypto space is that it can exist on both within and without legal systems. For those that are comfortable assuming risk without any legal protection or resource, there are a wealth of ways to take such anonymous risk. For the more risk averse or unsavvy, there are a growing number of regulated options.
the info is nice ... thank
as the main attraction of the criptomonedas is the anonymity is very possible to be used to launder money or for scams, but when there are so many new projects all the time, you have to be very careful where you invest the money to not fall into scammers, I think that along will be a problem when you can not know which project is real and which Scam, thanks for sharing, very good post!
Exercising prudence is a must @bitconspiracies in the new emerging world of crypto currency and your report proves just that, however speculative the information you're receiving might be. The arrests and investigations prove that there are some that will entice the unwitting into what could turn out to be a pretty raw deal. Following for more leaks and informative articles.