FatManTerra is a well-known crypto influencer. However, the crypto influencer himself seems to have created a trap for the gullible investors. In fact, traps and scams in the crypto world are common things today. Numerous investors fall prey to fraudulent schemes every day. In fact, these fake investment schemes have drawn out huge amounts of money from gullible investors.
Therefore, in recent times, there is an increased attempt to stop these fake schemes from trapping people. Various crypto influencers are working hard to make people aware of fake schemes and frauds. Yet FatManTerra has recently shown that there is a lack of awareness among investors. If you wish to know what exactly the crypto influencer did, then this article is the perfect stop for you. Keep reading this article to know more about FatManTerra and his latest experiment.
FatManTerra And The Fake Scheme
Recently, FatManTerra has claimed that he used a fake investment scheme to gather more than $100,000 worth of Bitcoin from crypto investors. According to him, he created this fake scheme as a part of his experiment. The crypto researcher further added that he wanted to warn investors against blindly following any investment advice.
There are around 101,100 followers on his Twitter account. Moreover, he is best known as a former proponent of Terra. But after the $40 billion collapse in May, he started to speak against Terra and its founder, DO Kwon. From this very account, FatManTerra posted a tweet recently. In that tweet, he stated that he has gained “access to a high-yield BTC farm” via an unnamed fund. In addition, he stated that interested investors might contact him if they wished to grab the yielding opportunity.
It is true that most people made negative comments, calling it a scam. However, within just two hours of the tweet, he was able to raise more than $100,000 worth of BTC. The very next day, FatManTerra took to Twitter to announce that it was a fake scheme. He termed it an “awareness campaign”. He wanted to show people how easy it is to dupe them in the name of big investment returns. He further warned people against anyone who is promising to offer free money. Through his tweet, he wanted to make people aware of the scams that are going on in the crypto market.
Concluding Lines
FatManTerra claims that he has refunded all the collected funds. Therefore, this must be taken as an awareness drive to make people aware of the ongoing scams in the crypto market.
Also read: Crypto Skeptic Brad Sherman Speaks Against A Crypto Ban
