Bitcoin ($BTC) – Crypto influencer launches fake investment scheme to ‘educate’ others, raising $100,000

Crypto influencer FatManTerra announced that he has scammed investors out of over $100,000 Bitcoin BTC/USD by an incorrect investment plan within two hours.

FatManTerra said the purpose of the fake investment plan is to experiment and raise awareness to show consumers the dangers of following influencers’ investment advice without prior understanding.

FatManTerra endorsed the Terra blockchain

The crypto influencer was a supporter of the Terra blockchain before speaking out against it and its founder Do kwon after its collapse in May that wiped out $40 billion in investor funds.

Almost 101,100 people follow him on Twitter.

After gaining access to a high-yield Bitcoin farm, FatManTerra gave others the opportunity to participate in the yield farming opportunity in a tweet.

It took 2 hours to raise $100,000 through a fake scheme

FatManTerra was nonetheless successful in raising more than $100,000 in Bitcoin through the first post on Twitter and Discord in a little under two hours, despite negative comments and claims that he was promoting a scam.

According to a second tweet from FatManTerra, who also said its sole purpose was to highlight how easily people can be misled by jargon and investment returns, the investment program was a complete scam.

No shortcuts to success

FatManTerra said he wants everyone in the crypto community to know that anyone claiming to be able to provide them with free money is lying and that influencers promoting golden investment opportunities or quick money trading guides are in fact scammers.

FatManTerra said his attempt at phony fundraising was inspired by the Lady of Crypto Twitter account, which has been accused of encouraging its 257,000 followers to engage in shady investment schemes.

On September 5th, the Lady of Crypto published a whitelist for a recently funded training company, stating that it can trade client funds on her behalf and share profits 80-20.

Photo via Shutterstock.

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