Recently, there was news about the ICHCoin crypto scam, which has scammed around $30 million from users across the US. The scammers primarily use Facebook and Instagram to find potential victims, pretending to be crypto experts offering advice to lure them in. Eventually, they move to WhatsApp to finalize their pitch and convince the victims to invest.
I expected them to use a more complex technique than this to seiize $30 million, as the amount seems really huge, and even most of the scam operations that happened in the past were the same story as what happened with the victims of the Ichcoin trading platform, which I am hearing about for the first time now.
The key factor in the success of this unprofessional and outdated scheme was the lack of experience among the targeted individuals. They didn’t even bother to research the legitimacy of this unliicensed trading platform to which they were sending their assests. I believe that if they had searched for reviews, details, and enough information through search engines, they wouldn't have fallen victim and lost their funds. I see that when excessive trust is given to the wrong person, the consequences can be disastrous, as these scammers are trying to show the public that they are experts, analysts, course creators, and the like, but their purpose is nothing but stealing innocent beginners in cold blood.