Here’s the main thing I want you all to consider:
Why don’t investors do their homework to check if their money is actually backed by a surety bond, insured by the FDIC, and covered by professional liability insurance? If they had, maybe they would’ve caught this scammer, Nathan Fuller, before it was too late.
And come on, this guy claimed investors could earn 100% returns in just 21 days, or at least 40% to 50% in 30 to 45 days. Isn’t that a huge red flag?
Seriously, what’s up with people throwing their money into these traps?
For someone who understands crypto investment but still decided to risk on it, the decision was lead by greed but for someone who doesn't then I'll say it's ignorance, they were not specific on the particular coin but lets say it's Bitcoin and you're guaranteed 21 days return with huge percentage, it would be silly for a Bitcoin investor to fall for such, which is why I think it's greed.
However ignorant people would believe most of the things they come across, someone that's not good at fact checking things would gladly give it a trial thinking they've seen a sure means of getting more money through crypto investment. Those are the set of people scammers prey on, greedy and ignorant people.
Yeah, people get greedy and skip the basic checks. 40% in 30 days? Thats screaming scam. But I get ithope makes you blind sometimes. Just gotta remember: if it sounds too good to be true, it probably is. Always Google the person and the claims first.
Beginner investors today should at least gain advanced insight into the techniques used by scammer to claim collaboration with XYZ authorities, ABC companies, etc., even if they present evidence that appears genuine. The problem is, all of this can be fabricated in seconds with super-sophisticated resources.
A basic warning: there are no fixed investment returns, even if the president offers them.
I have always had my reservation about trading bots because most of them are scam. If a trading bot is genuine and profitable, the owner will not release it to the public instead he will guard it jealously because that is money printing machine. I have falling into scam of someone pretending to be a trading with a profitable bot and he showed fake screenshot bearing huge profits every other day. I ignored the red flags, which were obvious, and the rest is history. I will not recommending subscribing to trading bots for the safety of the investor.
I remember having discussion about why there are still victims of a well known or obvious scams and NotATether said because people are foolish and this is another aspect of foolish people but this time foolish investors.
In a world where scams are common believing things that are too good to be trur shoe for a fact such individuals are having a sense of foolishness. I wonder how some individuals see Ai's?
Greed is snother factor, nothing should be believed or accepted until research as been made and this is from a trusted source and criticism or comments should never be ignored.
40% in 30days is very possible in this crypto space, people make more than this via crypto trading normally but they are not guaranteed to win in anyway, because trading can eat up your money pretty fast, if anything or any platform is promising a guaranteed return of any amount, that's your first sign that it's not a reliable company.
This days I've given up on anything that's going to generate money for me without me giving up my own service in return, they don't always end well, it's better to handle things your own way, learn trading and investment, so many things are still possible in crypto space but you have to do it all yourself.
Their fantasy to get easy richest is actually the main reason why those people continue to fall from scam. Also its really foolish action to believe that there's easy investment programs also bots that can give them passive profits. Unfortunately only few learn their lessons once they got scam, since there are still continue for hoping that next investment might became better. This decisions of those fools give scammers full motivation to create another scams.
This is why we have seen no ending scams because there are still people fall on their new schemes.
I've seen this many times. The flamboyant lifestyle is the bait to make you think these persons are good traders and are actually doing well.
If you can't trade yourself, don't give anyone money to trade for you. They would eat your money and show you a fake trading account with fake history. If you press them about your money, they will return a small percent and keep the rest. They would use other persons' money to pay you, which is where the ponzi comes in. I hope this will serve as a deterrent to others.
Before now, I was even believing their fake lifestyle, even if it will not move me to invest with them. But after watching a certain documentary that exposed how they do this, I understood that every was faked, exaggerated and rented.
Showing you trading history is not enough, don't believe it. They are just looking for your money to continue funding their lifestyle.
There are honestly successfully traders, but they don't flaunt wealth in that matter and they won't persuade or trick you to join them because they make enough for themselves.
Many people believe what they want to hear. This is how marketing, politics, and persuasion in general work, and it's as old as the black thread. Although the credulity of the people has decreased as civilisation has advanced, new ways of scamming have appeared, and for those who do not have much knowledge in the field, just hearing the name of these official bodies seems to be enough to trust the credibility of the words of the charlatan of the day.
When it sounds too good to be true, they run away from such a type of investment, but investors are so blind by their greed to make a fast profit from the platform.
This type of offer is not different from what Ponzi also offers, which is also supposed to raise more concern to investors. But as long as they can read some testimony from those who have invested before, even if it is fabricated and scripted testimony, they will be willing to risk their money, only few people have the time and access to try to verify license and some claim regulatory information made available on some of these sites.
Because they are guilible, stupid, greedy, or lazy, any sane person with working brain cells would realise how suspicious it is that an investment has a "promised" return of 40% to 50% or a guaranteed profit exceeding 100%. In this day and age, people should really make it a habit to search things before investing money on it, especially with the amount of investment scams being reported on the news.
That's because that sounds assuring when they have firstly heard of it that there's insurance from the FDIC. But as an investor, we have to be responsible and always need to verify things out when we invest.
That is an obvious scam, an HYIP.
It is too good to be true and anyone who believes that they can earn that much in that specific period tells a lie.
Desperation and lack of investing knowledge.
A typical ponzi scheme, that man deserved to be imprisoned and that amount of charges especially if the collected/invested amount of the victims are way higher than that, or well even just lower. Scammers should always be held like this snd get imprisoned for how many years.
It can be something like due diligent research and some people don't have necessary skills for doing such investigations. So I recommend people to do your second step first.
I would like to move this one to a first order in my action list. When I read such "too good to be true offers", honestly I would like to immediately stop at this, and see it's the first step. I even don't mind to spend my time, waste it for doing the second step that is the investigation and is a first step in your post.
It's not foolish investing but in fact it is greedy and foolish gambling.
The cryptocurrency scambook with "Common types of Investment and Ponzi schemes" for learning about this scam type and avoid it for your interest.
Yes, it is. It would be if it promised that return on an annual basis; if it promises it for such a short period of time, its clear that its aimed at naive people who dont know much about investments or returns.
This reminds me of the Trading Robot in my country in 2022 and then many people were trapped and suffered large losses, in the end the trading robot was a scam with the initial sweet promise where it gave profit every fund deposited into the robot in question.
I'm sure these investors see the profit not how big the risk is, it could be that Fuller is quite adept at marketing so that many fools are attracted to use this fake AI boi trading, or there is positive feedback that makes the victims interested.
Never bet money on anyone including AI bots that are said to be sophisticated in guessing the market, it's better to trade yourself, whether it's profit or loss we get valuable experience there.
You are correct it's an obvious scam but news flash people that are greedy will believe it and see it as a chance that they should not miss got anything in their lives.
The people are investing because the profit is large and the time to get the profit is short but they could careless about what is actually going to bring forth that amount of profit.
This has reminded me about the message I was trying to pass on in this thread Do your proper investigation before investing on any firm or assets and I believe if beginners would treat this kind of message crucial, they'll be safe from so many strange strategies of scammers who may claim to be genuine despites how much they may pose.
Of course we've seen bots claimed to be legitimate for trading which non had been trust worthy because they never performed that which the developers claims.
This one of Nathan Fuller claiming to have 100% profit returns in a specific duration comes at it dimension which an experience enthusiast in the space can even be skeptic about. Indeed lack of research is what's hindering most people to fall this kind of investment victims.