Days back one of the exchange in the country came up with a proposal to regulate cryptocurrencies and avoid complete ban of cryptocurrencies usage within the country. When such good news pops out people go positive on using cryptocurrency. By the same time there is a news about an exchange scamming people with more than $60 million.
if there is a good thing surely there will be a bad,this is the nature of everything most specially in online business.
. It is a new kind of trap, because with the people who doesn't have much knowledge about cryptocurrency they've mentioned about creating their own cryptocurrency and assured of 30% - 40% return monthly. This has made more users to invest and finally ended as a trap, and the office have got relocated to Dubai closing the office in India.
This comes surely one thing,that People in your country are GREED and Selfish thinking and believing that 30-40% of profit is legit and truthful .
there is no such thing that gives 40% in a month,that is a sure 1% profit without doing nothing?how stupid people to believe this.
Similar such incidents will be mentioned as a reason by the government when applied for regulated usage of cryptocurrencies. More Scams in the name of cryptocurrency is truly destroying the true quality of cryptocurrency and it's features. Hope the change happens soon creating positivity among common people about cryptocurrency.
Source :
bitcoin.comactually this is same strategy used by scammers all the time,promising good percent of profit while what you only do is entrust them your money.