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If it seems too good to be true, it usually is.

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Belemo
@belemo
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3 min read

For a while now, I've been receiving Twitter messages from a particular account. I schemed through the account and noticed it had like 3 followers and only one Tweet.

It's not that I only interact with accounts with a lot of followers, but I generally won't interact with new accounts that approach my inbox because it always means they want something. Just as expected, this account wanted something and I ignored it the first time.

The first message on Twitter was after I published a meme video after Elon's hostile takeover of Twitter. The user enjoyed the video and enquired if I will be available to market their project on my page.

I get those kinds of requests from time to time but the real issue for me was that I don't trust new accounts. Secondly, the person sent me a Telegram number, which I thought was weird. So I ignored it the first time.

Yesterday, I was contacted again by the same person and I decided to respond this time. My Twitter privacy settings allows people that I'm not following to send me DMs but it comes as a request that I have to approve.

Anyway, I approved and then sent a telegram link to the person to contact me. I figured I might as well hear him out.

For what it's worth, I suspected something wasn't right from the beginning but I kept an open mind. I figured I'd see what the project actually had to offer before making my final decision.

Something fishy

I was sent a PDF file of the whitepaper of the project. It had nice images and stuff but the project itself was making ridiculous promises and sounded really fishy.

According to the Whitepaper, investors(victims?) that give (Coinpocket)the project their money will earn 30% profit every month. Not 30% APR, 30% of capital every single month and can compound it.

According to them, they have trading bots/AI that handles trading. You simply give them your money and they handle the rest while you sip wine at home. Here's a link to one of their Youtube channels.

https://www.youtube.com/watch?v=pmSUTOmUhx0

The whitepaper claimed they're based in California but this is obviously a company created by Rwandans. Here's another video of who I suspect brought this project to life, shilling it on Youtube.

https://www.youtube.com/watch?v=YGiQM5LYwSc

Ladies and gentlemen, if you've not heard this before, let me be the first to tell you that there's nothing like easy money. Getting money always requires serious mental, and/or physical exertion.

Anyway, I looked up their website with my phone and also found out that the website isn't secure. I mean, it literally says so at the top of the browser.

How do you want to manage people's funds when you have an unsecured website? After that, I decided to go a bit further to see reviews in Google playstore and stumbled into this gem of a comment.

Hmm, John thinks it's a scam. Well John, you're not alone.

You see, they tried to cover their tracks with some fake reviews of people claiming how awesome they are on their Youtube. If you check the comment section, you'll find a lot of obviously fake reviews of the project.

Oh, on top of all this, if you go through the whitepaper, you'll find it is riddled with grammatical errors. How the hell are you going to manage my money if you can't do the bare minimum of proofreading your whitepaper.

In summary

I can't have it on my conscience that I shilled a project like this, no matter how much I'll get paid. I'm trying to get rich but I won't be able to look myself in the mirror if I shill a project that could potentially be a scam and hurt people.

I respectfully declined the offer with a worded message highlighting why, but deep down, I wanted to reply "I won't do it because you're a scammer".

Bull and bear markets are perilous times because our emotions are all over the place. Opportunistic projects will come with High APRs that make ridiculous promises.

Don't get caught up in any messed up situation, only trade what you can afford to lose, never give strangers on the internet your coins to trade for you and be vigilant. Always remember that if something seems too good to be true, it usually is.

Posted Using LeoFinance Beta