Quote from: 1C6fV5DtakfKANLJ8GUV7hCaA on April 11, 2018, 04:17:45 PM

So here are some of the guys putting a stain on Bitcoin's name.

Check out this link. They scammed almost a 1B Pesos.
http://news.abs-cbn.com/news/04/06/18/couple-arrested-for-alleged-bitcoin-investment-scam

What the hell is with that article , half in Filipino and half in English, who the hell writes this kind of garbage?

And what has bitcoin to do with that scam?
Scams like that have existed long before bitcoin and they are going to run for as long there are people letting stupidity and greed take over.

Quote from: Xester on April 12, 2018, 12:41:05 PM

This news have become viral in the Philippine television as well as in the social media. The so called company was named New G, I was once tempted to invest on that but I did change my mind and place my investment on a legit site with trusted reviews. There are many circulating news as to how their system collapse, some said it was because their system is a ponzi scheme and when nobody wants to invest they started to collapse and run with the money. The other reason was probably they went bankrupt when bitcoins value fell down from 20k$ to 6700$. Whatever the reason be the public is angry and wanted their investment back.

I really can't make anything from that article.

What was their "modus operandi" ?
Did they take fiat or bitcoin and promised a 120% or whatever in BTC terms ?