OP 22 November, 2024 - 07:18 PM
12-Year-Old Crypto Scammer Deceived Investors Out of Thousands of Dollars, Lost Millions. Deceived Investors Snitched to His Mom
A 12-year-old schoolboy created his own cryptocurrency and received approval and support from the community for it. His token began to rise in price, but he decided to deceive everyone and sold all the coins for almost $30 thousand, which brought down its price. Investors who lost money inflated its value so much that its creator could have received $1.5 million by selling his coins. Along the way, they complained to his mother, telling her about his fraudulent schemes.
Fraud on live TV
A 12-year-old schoolboy deceived crypto investors for $29.6 thousand (2.96 million rubles at the Central Bank rate on November 21, 2024), selling all the tokens of the cryptocurrency he created at the moment when its price was highest. Investors did not turn the other cheek and decided to invest even more money in this coin so that its price would soar much higher. According to the specialized portal Coingape, as a result, the fraudster lost about one and a half million dollars.
A minor fraudster created his own cryptocurrency QUANT, which grew in price, but very slowly. When he managed to earn $2,000 (200 thousand rubles), he decided to brag about it on the social network X, which is blocked in Russia. Other crypto market participants saw his post and decided to support QUANT by starting to invest in this token.
At the moment when the price of QUANT was at its highest, the creator of the currency left the game, sold all the tokens he had, which brought down their value. The fraudster watched how the price of QUANT literally live - he was streaming, and right on the same stream, he got rid of the coins, not forgetting to show investors the middle finger, and "in Macedonian style", with both hands.
No need to anger the community
Those who invested in QUANT lost their money and decided to teach a 12-year-old schoolboy a lesson. After selling his coins, the currency itself continued to exist, and investors began to invest even more money in it. As a result, the price of QUANT has grown several times, writes CoinGape.
The capitalization of QUANT has grown from $4 million, which it was when the creator sold all his coins, to $85 million. Investors used a variety of ways to promote the cryptocurrency, including advertising on social networks, and this eventually bore fruit.
The result of this story in this case is intermediate, because QUANT is not the only token created by a 12-year-old schoolboy. But if he had not sold his coins so quickly, after the explosive growth of its price, he could have earned not $29.6 thousand, but $1.5 million on them.
I'll tell your mother everything!
Having received a profit of $30 thousand, the young scammer created two more tokens, calling them LUCY in honor of his dog and SORRY as sarcasm, writes Coingape. With their help and exactly the same scheme, he managed to earn another $24 thousand (2.4 million rubles).
Crypto market participants expressed a desire to take strict measures against the child. This is due to the fact that crypto fraud is growing exponentially in the market, and many have lost their savings due to such fraudulent schemes. For example, not long ago in South Korea, 215 people were arrested for stealing $232 million in cryptocurrency.
After conducting a thorough search, the crypto community tracked the location of the child and even contacted his parents. After that, comments appeared under one of his mother's posts on social networks, detailing her son's antics.
The further fate of QUANT
What punishment the mother of a high school fraudster gave her son after she was told about his schemes was not known at the time of publication. Details about QUANT, on the contrary, are in the public domain.
In a matter of hours, the cryptocurrency lost more than 50% of its value and continues to fall in price. Its market capitalization has fallen from $85 million to $28.4 million over the same period. But, according to Coingape, QUANT trading volume is still high at $317.5 million.
It is important to note that investors still managed to come out on top. Not only did they expose the scammer, but they also managed to sell their QUANT coins while they were in demand.
Coingape experts do not rule out that QUANT will be able to recoup the fall in the future. In addition, this cryptocurrency continues to be discussed on social networks, which may have a positive effect on its value.
video : https://www.cnews.ru/scripts/video.php?f....MP4&poste
A 12-year-old schoolboy created his own cryptocurrency and received approval and support from the community for it. His token began to rise in price, but he decided to deceive everyone and sold all the coins for almost $30 thousand, which brought down its price. Investors who lost money inflated its value so much that its creator could have received $1.5 million by selling his coins. Along the way, they complained to his mother, telling her about his fraudulent schemes.
Fraud on live TV
A 12-year-old schoolboy deceived crypto investors for $29.6 thousand (2.96 million rubles at the Central Bank rate on November 21, 2024), selling all the tokens of the cryptocurrency he created at the moment when its price was highest. Investors did not turn the other cheek and decided to invest even more money in this coin so that its price would soar much higher. According to the specialized portal Coingape, as a result, the fraudster lost about one and a half million dollars.
A minor fraudster created his own cryptocurrency QUANT, which grew in price, but very slowly. When he managed to earn $2,000 (200 thousand rubles), he decided to brag about it on the social network X, which is blocked in Russia. Other crypto market participants saw his post and decided to support QUANT by starting to invest in this token.
At the moment when the price of QUANT was at its highest, the creator of the currency left the game, sold all the tokens he had, which brought down their value. The fraudster watched how the price of QUANT literally live - he was streaming, and right on the same stream, he got rid of the coins, not forgetting to show investors the middle finger, and "in Macedonian style", with both hands.
No need to anger the community
Those who invested in QUANT lost their money and decided to teach a 12-year-old schoolboy a lesson. After selling his coins, the currency itself continued to exist, and investors began to invest even more money in it. As a result, the price of QUANT has grown several times, writes CoinGape.
The capitalization of QUANT has grown from $4 million, which it was when the creator sold all his coins, to $85 million. Investors used a variety of ways to promote the cryptocurrency, including advertising on social networks, and this eventually bore fruit.
The result of this story in this case is intermediate, because QUANT is not the only token created by a 12-year-old schoolboy. But if he had not sold his coins so quickly, after the explosive growth of its price, he could have earned not $29.6 thousand, but $1.5 million on them.
I'll tell your mother everything!
Having received a profit of $30 thousand, the young scammer created two more tokens, calling them LUCY in honor of his dog and SORRY as sarcasm, writes Coingape. With their help and exactly the same scheme, he managed to earn another $24 thousand (2.4 million rubles).
Crypto market participants expressed a desire to take strict measures against the child. This is due to the fact that crypto fraud is growing exponentially in the market, and many have lost their savings due to such fraudulent schemes. For example, not long ago in South Korea, 215 people were arrested for stealing $232 million in cryptocurrency.
After conducting a thorough search, the crypto community tracked the location of the child and even contacted his parents. After that, comments appeared under one of his mother's posts on social networks, detailing her son's antics.
The further fate of QUANT
What punishment the mother of a high school fraudster gave her son after she was told about his schemes was not known at the time of publication. Details about QUANT, on the contrary, are in the public domain.
In a matter of hours, the cryptocurrency lost more than 50% of its value and continues to fall in price. Its market capitalization has fallen from $85 million to $28.4 million over the same period. But, according to Coingape, QUANT trading volume is still high at $317.5 million.
It is important to note that investors still managed to come out on top. Not only did they expose the scammer, but they also managed to sell their QUANT coins while they were in demand.
Coingape experts do not rule out that QUANT will be able to recoup the fall in the future. In addition, this cryptocurrency continues to be discussed on social networks, which may have a positive effect on its value.
video : https://www.cnews.ru/scripts/video.php?f....MP4&poste
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