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BREAKING: CFTC Sues Scammers Who Made $3.6 MILLION in 5 Minutes by Targeting Asian Americans With Fake Crypto Scheme – Because What Could Possibly Go Wrong?

Crypto NewsNewsRegulation/Negotiation 1 Sam Rogers October 4, 2024

A illustration depicting a group of Asian Americans holding briefcases, surrounded by falling moneybags and scattered dollar signs, while in the background a fake trading platform's logo is being torn down like a giant spider web.

Crypto, where do I even begin? It’s like shooting fish in a barrel – or rather, scammers preying on gullible idiots who think they can get rich quick (spoiler alert: you won’t). The latest ‘exciting’ news is that the CFTC has sued some fake trading platform and its associates for defrauding Asian Americans out of $3.6 million. Because what’s a few hundred grand among friends, right? This scheme involved soliciting funds in fiat and digital assets (because who needs actual value when you can just make up numbers on a computer?) with false promises of trading commodity futures. The funds were then misappropriated and diverted offshore – because that’s exactly how crypto ‘investments’ work: take your money, run away, repeat ad infinitum.

Source: bitcoin.com

CFTC Sues Over $3.6M Digital Asset Fraud Targeting Asian Americans
https://news.bitcoin.com/cftc-sues-over-3-6m-digital-asset-fraud-targeting-asian-americans
The U.S. Commodity Futures Trading Commission (CFTC) has initiated legal action against a fake trading platform and its associates for defrauding investors out of $3.6 million. The scheme, which targeted Asian Americans, involved soliciting funds in fiat and digital assets, with false promises of trading in commodity futures. Instead, the funds were misappropriated and diverted offshore. The U.S. Commodity Futures Trading Commission (CFTC) has filed fraud and misappropriation charges against […]

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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