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Hong Kong Court Brings Down Hammer on Crypto Bros Who Thought They Could Get Away With Making Up Fake Companies and Laundering Their Bitcoin in a Ponzi Scheme

Crypto NewsHackNFTs 1 Sam Rogers August 16, 2024

An illustration of an old-fashioned, ornate hammer smashing a pile of fake company logos and bitcoin coins in mid-air. The background shows Hong Kong's skyline with skyscrapers crumbling into dust as if affected by the impact. A faint image of a Ponzi scheme diagram is visible among the debris at the bottom left corner. In the foreground, two figures are shown being dragged away from the scene while looking back at it, one holding a briefcase and the other clutching an OM token.

Oh boy, do I love it when these crypto bros think they can just create their own rules and make up fake companies. Mantra Chain? More like a chain of lies! So now we have another case where some shady characters are trying to scam each other with cryptocurrency. It’s almost as if the whole concept is designed for crooks

Source: cointelegraph

Hong Kong court orders financial disclosures in Mantra Chain dispute
https://cointelegraph.com/news/hong-kong-court-mantra-dao-rio-defi-dispute
The High Court of Hong Kong ordered the disclosure of financial details of the operation of Mantra Chain in the dispute between Mantra DAO, Inc. and RioDeFi — its infrastructure host — and former RioDeFi employees who allegedly misappropriated funds and business from Mantra. RioDeFi and Mantra took legal action against defendants John Patrick Mullin, William Corkin, Jayant Ramanand and Rodrigo Quan Miranda in early 2022, RioDeFi and Mantra co-founder […]

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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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