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How a man lost a lot through Telegram scam!

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Over the past two years, we've heard of several cases of crypto social media scams, but this one has to be the most elaborate we've seen or heard of. It is true that Bitconnect was a big disappointment but this particular scam is granular and has led hundreds of unsuspecting investors in search of help, hoping they achieve this in a popular crypto analyst personality.

After checking several documents, and had conversations with investors through evaluated emails, telephone, exchange wallets, Telegram discussions/screenshots to tell their experiences, we've been taken aback with how large the assets that has been amassed through this scam. In crypto and fiat dollars, the value is above $2M.  



Short story

A middle-aged man in England tried to track down his "investment" into this scheme and was perplexed. He was very sure he has been scammed by Philakone himself of $10k in BTC. He said:


The deeper I get into this the more dumbfounded I am by the elaborate nature of this. I was convinced. 99% convinced that Philakone had made off with the money. Taking my almost $10k in BTC. Totally convinced. The language in our messages and emails sounded exactly like him. But as I spoke with you guys the gaps started to add up and now I am even further amazed at all of this. The accounts didn't match up when I went back and looked (Binance, BitFinex). And the lower number of members in the Telegram group that was pointed out. Honestly, it is embarrassing in a number of ways. Ultimately I wanted the story told because there are probably hundreds, if not thousands, of people falling for this type of stuff. I mean, I am an educated, middle-aged, business owner and I got taken on this one. And to be clear I have no interest in hurting anyone's reputation or their work. I just ultimately would like my BTC back. I doubt that ever happens. It is gone. I guess I am just as confused and dumbfounded by all of this today as the day I realized it happened. One point I would make about the idea of regulation – this is the sort of reason why regulation needs to happen now. This kind of episode needs to be stopped in some way.


A lot of conversation was had with this victim. He was sure he came across this group through Philakone's YouTube and Twitter feed. He even revealed screenshots of the assembled coursework by Philakone which came from the Telegram group. It is however surprising why Philakone would take $10k in crypto from one of its fans, when the user has above $2 million in it? It wasn’t just realistic. Also, the wallets used in paying for the service didn’t in any way match any of the wallets attached to Philakone's Steemit accounts and classes on Udemy and why will its telegram group have just 1356 members despite the fact that it looks so perfect and executed as a philakone endorsed or managed service.


This led to the conclusion that scammers were making use of media sites such as Telegram and Discord for impersonation thereby stealing large sums of money from unsuspecting investors.

It is obvious that, Philakone has no attachment of any sort to this Telegram group and other related groups that have been involved in this kind of activity. 


The most important point here is that scammers are making use of this method in crypto to steal lots of millions of dollars.

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