Crypto Fraud Unveiled: How Singapore Investors Lost $1.1M To Phony Digital Currency Scheme

[[{“value”:”
Singaporean investors have recently experienced a notable crypto scheme that resulted in the siphoning of their assets, totaling roughly $1.1 million.
This scheme, which was a fraud all along, highlights the risks associated with investing in seemingly lucrative cryptocurrency ventures.
The Misuse OF Tech And Crypto Investor Loss
According to the latest report from Channel News Asia (CNA), the chief technology officer of a “notorious” cryptocurrency investment firm was sentenced to five years in prison for his role in orchestrating a fraudulent scheme that duped investors out of $1.1 million.
The company, founded by the “once-celebrated” Chinese entrepreneur Yang Bin, attracted considerable investment, amounting to $6.7 million, by falsely promising substantial returns through its “bespoke” cryptocurrency mining operation.
The company, A&A Blockchain Innovation, was established in April 2021, and it didn’t take long to unveil its Chain Mining Scheme. CNA

Czytaj więcej

We współpracy z: https://bitcoinist.com/crypto-fraud-unveiled-how-singapore-investors-lost/