Crypto influencer FatManTerra states have collected over $100,000 price of Bitcoin (BTC) from crypto investors within an investment plan which was later revealed as fake.
The crypto investigator stated he produced the fake investment plan being an experiment and also to educate people a lesson about blindly following a investment recommendations of influencers.
The account on Twitter has around 101,100 supporters and it is mostly noted for as being a former Terra proponent that now positively speaks out from the project and founder Do Kwon following its $40 billion collapse in May.
Inside a Sept. 5 tweet, FatManTerra told his supporters he’d “received use of a higher-yield BTC farm” by an unnamed fund, and stated that individuals could message him when they wanted-in around the yield farming chance.
“I’ve at their maximum things i could, so there’s some leftover allocation and I decided to pass it along — priority will be presented to UST victims. DM for more information if interested,” he authored.
As the publish received a lot of negative responses from people calling it like a scam, FatMan stated he still were able to raise greater than $100,000 price of BTC in the initial publish on Twitter as well as on Discord inside a length of two hrs.
Inside a Sept. 6 tweet, FatManTerra revealed an investment plan was fake all along, describing it as being an “awareness campaign” to exhibit how easy it’s to dupe individuals crypto by utilizing simple buzzwords and promising big investment returns.
“While I made use of lots of buzzwords and set on the very convincing act upon all platforms, I ensured to help keep an investment details intentionally obscure — I did not name the fund & I did not describe the trade — nobody understood in which the yield was originating from. But people still invested.”
“I wish to send a obvious, strong message to everybody within the crypto world — anybody offering to hands you free cash is laying. It really does not exist. Your preferred influencer selling you quick cash buying and selling coaching or supplying a golden investment chance is scamming you,” he added.
It’s way too simple to scam individuals crypto.
Which must change.
If you do not understand in which the yield is originating from, you’re the yield.
Listen carefully towards the vocal critics associated with a project or investment prior to getting involved. *Really* listen.
— FatMan (@FatManTerra) September 5, 2022
FatManTerra states have finally refunded all the money and reiterated that “free lunches don’t exist.”
The idea of influencers allegedly promoting scams has developed in the news recently, with YouTuber Ben Lance armstrong (BitBoy Crypto) taking law suit against content creator Atozy recently for accusing him of advertising dubious tokens to his audiences, although he’s since withdrawn the suit.
Related: Do Kwon breaking silence triggers responses in the community
FatManTerra also mentioned that his fake fund publish was inspired through the Lady of Crypto Twitter account that has been accused of shilling questionable investment schemes to the 257,500 supporters.
