There are more than enough scams in the digital asset industry, and some of them require weeks or even months of work. We’re talking about so-called “pig slaughtering” tactics that involve adding a romantic touch to a divorce. As a result, scammer victims are forced to invest in some suspicious project or use a fake site – and this can earn them millions of dollars. Read more about the scheme in a separate article.

Crypto-asset theft

How to cheat on cryptocurrency

FatManTerra has over 100,000 followers on Twitter. He gained such fame by promoting the infamous Terra project, which lost all of its value in May 2022. However, after the collapse of the blockchain ecosystem, the crypto-enthusiast has drastically changed his stance and now speaks out against the startup, trying to find the culprits and including recovering the losses. As a reminder, Terra’s collapse led to billions of dollars in losses for investors.

FatManTerra’s Twitter account

Earlier this week, FatManTerra posted the following message on its page.

I got access to a highly profitable Bitcoin farm based on a private trading system run by a promising fund. I made the most of what I could, so there are few investment opportunities left and I have decided to pass them on to others, priority will be given to the victims of the UST Stablecoin crash. Contact me in private messages for more details if interested.

That is, in essence, he emphasised in his own address the "exclusivity" of the investment offer, which will supposedly only be available to some subscribers. It should be noted that fraudsters often use this trick by adding mentions of a limited number of places for their "project" or a countdown of the time remaining. In this way, they force potential victims to rush, not to investigate the details of what is going on and at the same time not to think about where the income in the scheme comes from. And as cryptocurrency wisdom has it, if you don't know where the earnings interest comes from, you are most likely the source.

FatManTerra’s “investment scheme” announcement

According to Cointelegraph sources, just two hours after publication, the cryptocurrency enthusiast claimed that his ‘investment scheme’ was fake. He allegedly received hundreds of messages and 5.45 BTC from his Twitter and Discord followers. All this despite the fact that the first announcement garnered a lot of negative comments, in which FatManTerra was immediately rebuked for cheating.

In other words, users saw criticism of the idea among other things. However, this did not stop them, but only spurred them on. After all, in such circumstances, it seems that not everyone understands the prospects of the scheme, which supposedly makes it even more promising.

Be that as it may, the story ended with a happy ending. Here’s another message from the “prankster”.

I returned the money to everyone who sent it to me. There was no investment. There is no such thing as high profits without risk. It’s too easy to cheat people in crypto. And that needs to change. If you don’t understand where the returns are coming from, you are the returns.

So essentially a Twitter user has set up this scheme just to teach subscribers from experience not to trust anyone in the online environment. Of course, the fact that there are returns can interfere with the effective learning of the lesson, but such an option is also a good one.

Overall, what’s happening is an interesting way to draw attention to the problem of widespread crypto fraud advertising. Speaking of advertising: streaming service Netflix announced the launch of advertising campaigns on its platform the day before, but so far the new feature has only been tested for Australian users. At the same time is already known that the advertising integration Netflix certainly will not be cryptocurrencies, because it is not in line with company policy, according to CryptoPotato.

Netflix

Promoting crypto through advertising was a very popular topic during the last Super Bowl, one of the most popular sporting events in the US. However, investments by cryptocurrency companies in the form of various commercials did not result in a noticeable influx of new users of digital assets. This is all due to the bear market – that is, the collapse phase of the cryptocurrency industry, which has been going on since late 2021.


We believe that this situation will really make new cryptocurrency enthusiasts aware of the workings of fraudulent schemes in the digital asset niche. Whoever tweets about the possibility of making good money on coins in a short period of time, such a thing is not worthy of attention and even less worth investing your own money. In most cases, such initiatives end up in financial losses with no possibility to recover funds. So it is better not to contact with them initially.


There is interesting news in our millionaires’ cryptochat. There we talk about other options for making money from digital assets.