- FatManTerra revealed that he ran a fake crypto investment scheme.
- The goal of the investment scheme was to raise awareness of crypto scams.
- The Twitter user concluded that he refunded everyone that invested in his scheme.
The crypto Twitter user @FatManTerra revealed details regarding his awareness campaign that was in the form of a scam in a Twitter post yesterday evening.
Inspired by Lady of Crypto, a while ago I pitched my own investment scheme to Twitter…
In two hours, I received over one hundred DMs. I raised 3.45 BTC from Twitter and 2 BTC from Discord – over $100k, with more requests flooding in by the minute.
But there’s a little twist.
— FatMan (@FatManTerra) September 5, 2022
According to the Twitter post, the investment scheme pitched by the Twitter user was inspired by “Lady of Crypto”. In this custom investment scheme, certain investment details relating to the scheme such as the name of the fund and where the yield advertised was being generated from were “intentionally” obscured.
The Twitter thread revealed that the fake investment scheme was able to raise over $100,000 worth of Bitcoin (BTC), with 3.45 BTC raised on Twitter and 2 BTC raised from Discord. The Twitter user went on to add that the number of requests kept “flooding in” by the minute.
FatMan attributed the success of the fake investment scheme to the use of plenty of industry buzzwords and convincing displays on various crypto platforms and said that the main motive behind the fake investment scheme was to raise awareness of how easy it is to scam people in the crypto realm.
Crypto influencers such as BitBoy and Ran Neuner were also called out for selling “ads to scammers” and dumping on their own followers. The recently disgraced Terra Luna founder, Do Kwon, was also mentioned as FatMan said that he and a lot of other founders “run next-level scams to create generational wealth.”
The Twitter influencer concluded the Twitter thread by mentioning that he refunded everyone that invested in his fake investment scheme in full.