@8:07 That's what I like to call the "take your money & run" clause. It's basically 1 of the biggest signs of a scam. It's also a good example of why you should read the White Paper of these things in-depth with a lawyer.
It amazes me what people will just sign without even looking. I've got several friends/acquaintances who intermitently ask me to look over employment contracts. I don't know how many times I've got halfway into the second page and said "this is a red flag, you need rid of this clause", and was then told they'd actually already signed it. So why ask for advice after you're committed? One contract was so bad I said to the guy "this must be a test, I wouldn't employ anyone who'd sign it." And they did stitch him up in exactly the way I predicted at 9.15 on his first Monday there.
read the white paper and do your due diligence before yoloing your life savings into a brand new crypto company headed by teenagers? sounds like FUD to me
@@mykal4779 Wasn't expecting Crypto Clown getting in on the action. But I guess I can't expect anything less when people like you are desperate to keep chasing the rugpulls, wanting to be the next idiot to lose all their money in a crypto scam. Here's a piece of advice you should learn to follow, don't follow the herd that fall for the "not-financial advice" of people invested in these scams. Not unless you desperately want to lose your money in the next rugpull. Also, by uttering the great battlecry of the Crypto Clowns, (FUD or FOMO) you have unconditionally agreed with everything I said & will say on the matter.
The moment I read that the CEO founded this whole business at the age of 13, it instantly triggers a redflag. Every entitlement of being an underage "prodigy" involving activities such as gambling, crypto or investment/stocks, that is always a warning for incoming scams, disasters and schemes.
69000 bitcoin? That probably would have only been enough to buy a couple of pizzas when BTC first appeared. Now that would be enough to buy a worldwide pizza chain.
You should check a case in Brazil where something very similar happened. My town was briefly known as Egypt because of a pyramid scheme exactly like this one and the dude was kown as the "Pharaoh of Bitcoin", the company was known as GAS. The operation moved around 7 billion dollars for over 10 years and when the police arrested them they got 591 bitcoins and around 46 million dollars.
@@troodon1096 And most getting into crypto aren't your honest, good-hearted individuals. They're looking for a get-rich-quick scheme as well. A VERY tiny percentage might be half-decent folks but many of them woupd fleece their investors too if the shoe were on the other foot. I never feel too bad about crypto investors who lose their money.
How do people hear 'guaranteed returns' and not immediately feel skeptical? That's like saying you bat 1000. It doesn't happen. No one ALWAYS makes money, not one only picks winners, it's just not possible.
These guys played everyone and lived to see another day. They're probably set for the rest of their lives so long as they stay under the radar and don't attract any attention.
Excuse me if my only reaction to crypto idiots losing millions of dollars in yet another crypto scam is that gif of JK Simmons laughing hysterically from Spider-Man 1.
tbf though almost everyone having some kind of crypto business is a criminal. even the mighty binance is now coming under scrutiny. i bet coinbase is dirty as well.
I'm certain there was no hack, that the brothers played it out, the payout would be at least $200M as they claimed, nobody will get arrested and people will keep falling for these scams
So many red flags that's impossible not to think the brothers did it again! The hacking clause was an alibi carefully premiditaded to get them off the hook once the money disappear. But ppl are quite gullible for investing that kind of money without reading the contract properly! Hope they will learn something with this bad experience!
i grew up in ye olde Yew York in the 1900s, if you owed people and they couldnt find you, theyd find ya family. siblings, cousins, your mother. someone knew where you were and people werent shy about going to ya grams house to get the money from her
If I invested 1 million dollars Into a company and it sent me a letter saying oh man here is 600,000 of it back buh bye you better believe I would be after them. The point is to make money not freely hand it out so some douche(s) can live debt free on my dime.
that's still stupid. if they would be like "you know what? you only get 65% of your money back." people would get furious. but if they first tell people that they will get "0%" back and then go to "well actually you could get 65% back but that means you'll never be able to claim the rest" then people are way more willing to accept this and just go on. that just some psycho-shit.
@@azinyefantasy4445maybe it's time to look into the mirror. Your money is going to be gone anyway. It's either all is gone or 'just' a part gone. If you were so stupid to invest into something like this in the first place, you better give them a tip for even returning some money....
Love these videos, not the crypto side just the format and interesting stories are so great! Quick note, the math for 4:10 or so - "10% each month" would work out to be 3 times the investment in a year, 1.1^12
thats 0.1 gain per month, not 1.1, so 0.1*12=1.2 so bit more than double on original investment, or maybe cumulatively month by month, that 10% is added and next month goes up from this 110% damn I suck at maths haha
@@tetrisgonzo37you're adding 0.1, he's multiplying by 1.1. And it's compound interest so you multiply the total by 1.1 every month. It ends up being a lot more than just adding 10% of the original value.
@@jeanvaljean6433 more wishful thinking than anything. However, it’s not like their money is making money like every other billionaire. It’s on a flash drive slowly dwindling away
ahaha yeah almost like nobody forced them ahaha and it was entirely their own choice ahaha and they were dumb enough to fall for get rich schemes ahaha @@glanced
@@glanced My sympathy only goes so far; I find it difficult to be sympathetic to people who fall for ridiculously obvious scams. The scammers still did a bad thing, but... if people quit falling for obvious scams, they'd have to find victims elsewhere.
I'm no expert, but I thought bitcoin transactions were completely transparent, and there is no way you could sell a stolen bitcoin without being caught.
I can hear the bitter laughter from South Africans. We were probably late to the Crypto game because of load shedding. You can't depend on a digital wallet if theres no power half the time. 😂
I've seen a lot of posts and comments about middle east scammers. I realize this is south Africa in location. But originally they appear middle eastern. Why is this a prevailing thought in crypto?
If you’re stupid enough to fall for that pitch, then you deserve to lose your money. These greedy crypto bros fall for every scam because their greed cloud what little judgement they have.
The whole part about “Bitcoin being untraceable” reminds me of something funny: back in 2017, a Mexican RU-vidr was found guilty of kidnapping and sentenced to 50 years in jail. He and his buddies were notorious because they demanded the ransom to be paid in BTC, supposedly because they didn’t want to be caught. Clearly not understanding how a blockchain works, and that their ass would be traced the moment they turned that BTC into pesos at any exchange. The funniest part is that this RU-vidr was your typical entrepreneur/hustleporn/grindset guru, whose channel consisted of the most basic “millionaire mindset” speeches and content. Rented limo and everything. And he was arrested and sentenced so quickly that his videos are still up. And people are just destroying that fucker in the comments 😂
The more I hear these kind of stories about cryptocurrency and bitcoin, the more I am surprised why people still invest in these mediums despite the history of scams and theft. I guess people are so desperate to get rich quick they'll try anything once.
Good thing the customers signed that no responsibility for hacks clause so the brothers can get the stolen BTC back to them after their sleuths chase down the bad guys. Go African Brothers, Go !!! Great customer service rt there folks. They are even shutting down work to go find their customers cheddar. Now that's selfless people. Where can I invest? Lmk whenever they start a new company.
Ahahahahaha the mysterious company coming out and like heyyyyy mannnnnnnnnnn..... noooo reason but you think you can drop those charges if I give you a little over half of what I stole from y... I mean... money....
Ahhh they were Indian. Makes sense. I knew they were not native South Africans 🙊. A lot of the IT scam stuff comes out of India 🤔💭. Blacks Africans we are not the best in IT. I am South African. Kudos to them for being smart. Sorry the investors lost their funds.
What are they thinking, like they're DB Cooper or something? The Interpol clearly knows their name, what they look like, and will slowly but surely bring them to justice. Why do this in the first place bruh, lol.
Yeah but thats you get with digital money!!! DM shouldnt be taken that seriously... of course its not safe!!! We should kinda move away from it. Not to it...
