A fake crypto pyramid scheme raised $100,000 in a few hours

Famous user FatManTerra, claims to have raised more than $100,000 in bitcoins from a fraudulent scheme, but it's not that simple.

FatManTerra said in a tweet Tuesday that his investment scheme was bogus all along, calling it an "awareness campaign." To show how easy it is to scam people into cryptocurrency using simple words and promising significant investment returns.

And here, even the most ardent hetero of easy money cannot deny that Fatman played on the basest desire - the desire for free money :D.

In general, this scheme is no different from the same fiat schemes. The only difference is that Mavrodi didn't cover himself with high-yield Yield Farming (read more here).

"Although I used a lot of words and played a compelling scene on all the platforms, I made sure that the investment details were intentionally vague - I didn't name the fund or describe the deal - no one knew where the income was coming from. But people invested anyway."

FatManTerra also said his post about the fake fund was inspired by the Lady of Crypto's Twitter account, who was accused of spreading questionable investment schemes to its 257,500 followers.