Has Cryptocurrency Become The Scam Of The 21st Century: $1.18 Billion In Losses!

SAN FRANCISCO - Sept. 9, 2022 - PRLog -- By: Mooka Da'knowledge Public Relations For So Seductive Kiss Fans

"I blew through all my money, and made some very bad decisions. I had this scam artist scam me real bad, and was embezzled over $175,000." -Diego Sanchez Welterweight UFC Division

At a time of great need many are scrambling for scraps to survive. They were given hope by way of an American Dream; not promised, but reassured that it could be attained. The economy stumbled along the way: 1970 savings, and loan crisis; 1980 recession, 1990 the gulf war, 1999 Y2K, 2001, the twin towers incident, 2008 financial crisis, and 2022 hyperinflation. There have been scandals through the years like the Bernard Lawrence Madoff scheme of $64.8 billion, but in 2011 cryptocurrency started to make its mark in the financial economy; by 2013 there were 10 digital cryptocurrencies on the market. Then the scams began in June 2016, when a woman by the name of Dr. Ruja Ignatova, now called the Cryptoqueen; presented Onecoin to the world. She raved that it will be better than the rising Bitcoin. She was reported to have stolen $4 billion. In April 2021, a man named Hanad Hassan, made a charity token called Orfano. Mr. Hassan scammed investors not once, but twice out of millions of hard currency. This new executive administration has signed into law protections for cryptocurrency investments. According to the data of the Inflation-Rate company, the rate in the United States is at 8.5%. Will inflation cause more scams within this uncertain economy? The federal payment protection loan program to help businesses during the Covid-19 emergency has caused scammers to fraud the government. According to Ken Dilanian of the NBC News Media Network, the program was scammed out of $80 billion.

"Greed is a bottomless pit which exhausts the person in an endless effort to satisfy the need without ever reaching satisfaction." -Erich Fromm

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