A new wave of crypto scam is ready to crash the market - Andreas Antonopoulos


  • Andreas Antonopoulos expects a new wave of scam cryptocurrency projects.
  • The situation is very similar to the one in 2017.

     A vocal bitcoin supporter Andreas Antonopoulos warned cryptocurrency investors that a new wave of scams and fraudulent projects might hit the market any time soon.

The mailbox and personal messages in social networks are flooded with letters and invitations from various ICOs and IEOs. They ask him to promote their projects as a leader of opinions, to make positive statements or become an adviser, Antonopoulos wrote recently in his Twitter account.

"Just FYI: The ICO, IEO, "influencer marketing," endorsement, "advisor" etc. emails and DMs have started flooding in again. People are offering me (and many others) $25k to $250k for endorsement, review, tweets, etc. I say no, many say yes. SCAMS are coming. Be careful," he tweeted.

This trend started about a month ago. And it is very similar to the pattern observed in the period from August to December 2017. Antonopoulos is sure that scammers dropped off the radars during the bears' market, but now they are back.

He senses FOMO (Fear Of Missing Out) in the air as newcomers have started entering the market. He urges his readers to educate their friends and relatives on possible forms of scams such as Ponzi schemes and pump-and-dumps.

In April, the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC) issued a joint warning about fraudulent websites that offer advisory, investment and trading services for cryptocurrencies.

Earlier this year, Andreas Antonopoulos wanted to cancel his participation in Blockchain Week 2019 in Hong Kong when he learned that Russian models, translators, and hostesses were invited to exert additional influence on the guests and attract men.

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