Crypto scammers

User Transferred $1.1M Worth of Bitcoins to Crypto Scammers Who Promised to Double It

The transfer of 26 BTC to the address of crypto scammers was recorded by the Whale Alert service. The scammers used the name of Microstrategy CEO Michael Saylor.

An unknown investor lost 26 BTC  by sending them to scammers who promised users to double their investment. This was observed by the tracking service Whale Alert. Fraudsters used the name of the head of Microstrategy Michael Saylor to attract victims.

Saylor reacted to the incident as well. He commented on the publication of Whale Alert and said that 489 such projects were launched by crypto scammers on YouTube last week. According to the head of Microstrategy, his team regularly monitors such projects and notifies the YouTube administration about them.

Microstrategy is the largest cryptocurrency holder among public companies. As of January 17, the company owns over 124,000 BTC.

Saylor is an ardent supporter of digital assets. He is confident that Bitcoin will definitely become the main store of value of the 21st century and called the tightening of regulation of mining and crypto trading in China “a trillion-dollar mistake.”

In early December 2021, Saylor also stated that Bitcoin is not a competitor to the US dollar. It is a global reserve asset, and the US dollar is the world currency. Saylor also predicted that Bitcoin would be the best way to hedge against inflation in the future.

In our LATOKEN reviews, we repeatedly write about how not to become a victim of a crypto scam. Do not participate in dubious projects and never send your Bitcoins to unknown addresses. It is essential to always do thorough research before making a transaction. Be extremely careful when dealing with crypto. Then you will not become a victim of a cryptocurrency scam.

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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.