Peak Crypto Craze .. Monkey something...

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  1. #1

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    Peak Crypto Craze .. Monkey something...

    And if you thought the Squid Games crypto scam was bad .. here's a new one. $300K for a few days worth of work.

    Cute that the media still insists on calling these folks "investors" ... makes my Mark Six gambles look very Warren Buffetesque ..

    Monkey Jizz’s scam was a rug pull, in which a project attracts investors, promises to release a bunch of products, and then suddenly makes off with investor funds while crashing the value of the underlying token.
    "Are you ready to enter the jungle," the honeypot's website, monkeyjizz.life, and its Twitter account read before going offline. The project promised “improved jizzing speeds,” noted that every investor would get a cut of transactions sent directly to their wallets, and promised to one day develop a game called “Monkey Business.” The scam featured a Telegram group to help boost the coin ahead of the rug pull. "$MJIZZ is here to take over the DeFi Jungle with Monkey Business, Collectible NFTs, Jizz Swap + Banana Wallet, JizzPad and much more!" its Telegram group reads.
    https://www.vice.com/en/article/n7nw...t-to-be-a-scam

  2. #2

    Surely the name would have told one that something was off?

    I've not put any money in one of these things, so take my uninformed view with a big grain of salt. Surely at some point the exchanges have to act to prevent these sorts of scams occurring, otherwise the regulators will come in with a battering ram. Then again, who do you go after in this DeFi world.


  3. #3

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    'Squid Game' token cost one Shanghai investor his life savings of $28,000

    https://www.cnbc.com/2021/11/02/squi...ndroidappshare


  4. #4

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    Makes real estate investment look really good. Price plunge? You still get to live in it.


  5. #5

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    Using "investor" in this context is completely out of whack. Some chump dumped in his life savings into a single asset. He obviously doesn't deserve it but you've gotta consider risk management!


  6. #6

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    Well the kid does not know that I've invested his tuition money in the mark six draw tomorrow.