Thousands may have lost out to iEarn crypto trading app (artificial intelligence was used as a lure)

[muriel_volestrangler]

Yeah, this would have looked sketchy as shit. But people are lured by "free money! AI works for you!"

Thousands of people are believed to have lost their savings after investing in a cryptocurrency trading app called iEarn Bot.
...
Customers buying the bots - like Roxana - were told their investment would be handled by the company's artificial intelligence programme, guaranteeing high returns.
...
"It looked quite professional until, at some point, they announced maintenance." At that point, for some time, withdrawals from the app were frozen.

"Some people started to say 'I cannot withdraw... what is happening'," explains Roxana. "I made the request to withdraw and the money just disappeared. The portfolio became zero - but I was never credited on my wallet with any money."

https://www.bbc.co.uk/news/technology-64939146

The article describes how the scammers move from country to country for their marks - at first, word of mouth/social media helps people sign up, but as people get fleeced, that works against the scam. So they move on to a new country, where the promise of AI getting you something for nothing hasn't been exposed yet.

[NewHendoLib]

1. We just watched the Netflix Madoff series the other night.

It astounds me how many get fooled by a promise of something obviously too good to be true.

[keithbvadu2]

2. The big money return in crypto is:::

The big money return in crypto is:::
1. Starting it, hyping it, and getting out, leaving the
suckers holding the bag.
2. Handling/storing it for others.
...a. Not your own money/crypto. Someone else's money/crypto.
...b. Lots of fraud/money manipulation/theft/lack of regulation.
3. Backed by trust/faith/great promises/optimism... but no
real assets.
4. It can literally disappear and good luck with lawsuits.
------------------
A few have profited by 'investing' but not the majority.