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MyCoin Disappears With Up To $387 Million

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  • omega
    replied
    Calling it a "bitcoin exchange" and then going on to describe how it's clearly a ponzi scheme is baiting.

    It's like saying "millions stolen from High Street Bank accounts!", and then lower on in the article saying actually people invested their money with a chap in the local boozer who called himself "Barclay's Bill" who then surprisingly did a runner with all the cash

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  • andyn
    replied
    A lot of it is a numbers game. It's not necessarily that people are that much more gullible with the internet, it's that the scammers are hitting up 1 million people at a time, meaning their chance of finding an easy target is much higher than if they actually had to walk around knocking on doors. With these schemes it's all about the low hanging fruit.

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  • michaelkenward
    replied
    Originally posted by RandomPC View Post
    Presumably that depends on whether when he knocked on the door he said his name was "John" and that he worked for Microsoft...
    Indeed. You would clearly believe anyone who turned up and said that. Or that they came from the carpet makers.

    One sign of the times is that fraud, much of it of the e-variety, it seems, has now become a bigger moneymaker than robbery for criminals.

    This one is just a sign that Ponzi scams have gone online.

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  • RandomPC
    replied
    Originally posted by michaelkenward View Post
    As it says "Ponzi scheme suspected".

    There is something about e-stuff that causes people to lower their defences. They seem prepared to do things that they would never do in the real world.

    Over on another forum, someone was seeking help to get out of the hole they had dug by answering the phone and allowing a scamster to take over their PC and infect it with nasties. Would they let someone in the front door to pee on their carpets?
    Presumably that depends on whether when he knocked on the door he said his name was "John" and that he worked for Microsoft...

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  • andyn
    replied
    Originally posted by michaelkenward View Post
    Over on another forum, someone was seeking help to get out of the hole they had dug by answering the phone and allowing a scamster to take over their PC and infect it with nasties. Would they let someone in the front door to pee on their carpets?
    To be fair, using your analogy, they may actually let someone in to 'demo a service to remove the pee from their carpets', in fact people do this all the time. My point being that naivety is naivety really, the internet just brings scammers the same benefits as it brings to everyone else - convenience and 'reach'.

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  • michaelkenward
    replied
    As it says "Ponzi scheme suspected".

    There is something about e-stuff that causes people to lower their defences. They seem prepared to do things that they would never do in the real world.

    Over on another forum, someone was seeking help to get out of the hole they had dug by answering the phone and allowing a scamster to take over their PC and infect it with nasties. Would they let someone in the front door to pee on their carpets?

    Leave a comment:


  • El Wayneo
    replied
    Well having read it, its just a pyramid scheme.

    You pay in xxxx and then you find others to pay xxx and then we give you back xxxxxx.

    Its just using cryptocurrency as a selling point is all, very little to do with actual bitcoins and transactions.

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  • Jackster
    replied
    Why people keep putting their money in these things still boggles me....

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  • andyn
    replied
    Well basically the exchanges are the risk, not the currencies themselves. If you keep your bitcoins in a wallet you control/own, you're fine. If you use a wallet provided by someone else, you're asking for trouble if you don't have total confidence in that third party.

    Just the same as keeping cash under the mattress vs in a bank I guess, only the banks are a bit less anonymous and marginal and (hopefully) less likely to vanish.

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  • Gunslinger
    replied
    ouch, i guess this is the questionable thing with crypto currencies, how do you say "they closed their doors, taking xxxxx amount with them" when your money effectively exists only in the digital environment, therefore how is it said to be in any one place

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  • Ice Tea
    started a topic MyCoin Disappears With Up To $387 Million

    MyCoin Disappears With Up To $387 Million

    ------------------------
    Last edited by Ice Tea; 03-07-16, 10:21.
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