Beware crypto scams: iEarn Bot

[Retro]

This one's nailed thousands of people in various countries and is still operating. Another classic get rich quick scam.

Thousands of people are believed to have lost their savings after investing in a cryptocurrency trading app called iEarn Bot.

Experts who have investigated the company say it could be one of the largest crypto scandals to date.

Trading in cryptocurrencies has become popular, with people often promised large rewards over short periods.

But law enforcement agencies warn of a growing number of scams and recommend investors conduct "due diligence".

Best to remember the motto: if it looks too good to be true, it probably is.

Thousands may have lost out to crypto trading app

Experts who investigated iEarn Bot say it could be part of one of the biggest-ever crypto scandals.

www.bbc.co.uk

 

[CyberGeek]

Is anyone here a crypto investor?
The number of firms going into liquidation or are just scammers is nuts !!!

I actually did an online course on blockchain a while ago as I read a news article suggesting we reduce blockchain usage to reduce environmental impacts, and I was keen to understand why.

While I am eager to get involved in crypto investments I fear the above so was hoping a buddy could offer me some advice

 

[Retro]

I've never touched crypto, not trusting it ever since it was invented in, I think, 2009.

It's all that computing power involved which uses a lot of energy and hence has an environmental impact.

 

[CyberGeek]

It's all that computing power involved which uses a lot of energy and hence has an environmental impact.

Yeah I get that, I was confused about why though. It's a creative solution although intensive to combat fraud though.

 

[Crims]

Yeah I get that, I was confused about why though. It's a creative solution although intensive to combat fraud though.

Blockchain seems to be one of those techniques that many tech conscious people knew would be a short-term investment. Very interested, its like catnip the way they mimic these things.

 

[CyberGeek]

Blockchain seems to be one of those techniques that many tech conscious people knew would be a short-term investment.

...that could possibly result in huge losses.
I think you meant to say:

Blockchain seems to be one of those techniques that many tech conscious people knew may result in huge losses.

Very interested, its like catnip the way they mimic these things.

Have you or do you intend to read up or study these things? I really enjoyed the online course but if I am to be honest, I was a little overwhelmed by all the maths , lol. But the complexities are what makes it so interesting! As a software dev I’m very much a details person, lol

 

[Crims]

It's been ages since I learned about block chain. I have several people who have a lot of time who invest in this tech. The essence of it is that people aren't going to decrypt the messages

...that could possibly result in huge losses.
I think you meant to say:




Have you or do you intend to read up or study these things? I really enjoyed the online course but if I am to be honest, I was a little overwhelmed by all the maths , lol. But the complexities are what makes it so interesting! As a software dev I’m very much a details person, lol

I don't. Believing the financial market seems... impractical.

 

[CyberGeek]

The essence of it is that people aren't going to decrypt the messages

The essence of it id that people won’t be able to manipulate the voting system as to whether or not a transaction is legitimate or not.

 

[CyberGeek]

I don't. Believing the financial market seems... impractical.

Don’t get me wrong. I’m incredibly reluctant to invest in crypto, lol

But it may not be a bad idea to sell a piece of art or trading cards and make a few hundred thousand quid, lol

People on crypto are willing to offer “U mad Bro?” amounts of money for what you’d call trivial things

 

[Crims]

Don’t get me wrong. I’m incredibly reluctant to invest in crypto, lol

But it may not be a bad idea to sell a piece of art or trading cards and make a few hundred thousand quid, lol

People on crypto are willing to offer “U mad Bro?” amounts of money for what you’d call trivial things

Depressing state of affairs. All of it. if money was decentralised, no one would bother. Less truthfully, it is novel and unique.

 

[Crims]

Don’t get me wrong. I’m incredibly reluctant to invest in crypto, lol

But it may not be a bad idea to sell a piece of art or trading cards and make a few hundred thousand quid, lol

People on crypto are willing to offer “U mad Bro?” amounts of money for what you’d call trivial things

I have always felt block chain and it's voting system usually seems like a good plan but... the end result is lacking in most cases.

 

[CyberGeek]

the end result is lacking in most cases.

You don’t know that the owner of the system is legit or a fraud when there’s no FSCS to verify that (and protect your money)

 

[Crims]

You don’t know that the owner of the system is legit or a fraud when there’s no FSCS to verify that (and protect your money)

Exactly. Anonymous throughout.

 

[CyberGeek]

Depressing state of affairs. All of it. if money was decentralised, no one would bother. Less truthfully, it is novel and unique.

The crypto money IS decentralised. Did you mean centralised?

 

[Crims]

The crypto money IS decentralised. Did you mean centralised?

I mean decentralised naturally. Money spent on local area businesses.

Edit: a lot of people who live in an area where there's anything else creates a situation for decentralised growth.

 

[CyberGeek]

I mean decentralised naturally. Money spent on local area businesses.

No one would take that risk.
The very few who take the risk on crypto are nerds It’s not quite mainstream

 

[Retro]

Scan Computers took Bitcoin for a while a few years ago, but then dropped it. I can only think it must be due to all that volatility.

 

[Tiffany]

No crypto or blockchain for me as it seems too volatile, though I have friends that do Bitcoin and they tried to talk me into several ago. I prefer more traditional and secure investments.