It still boggles my mind that you can build a fortune of several million, but then be naive enough to download a random crypto app off the app store, and expect it to be all sunshine and rainbows. Even several massive legalish crypto empires fell over due to fraud. Using a random one off the app store is a recipe for disaster.
People who got wealthy in real estate are typically quite naive, the money came too easily for the past 15+ years and they aren't aware of how hard most businesses are.
Turns out if you never actually earned the money you tend to think you are untouchable.
I've worked with CEOs who were born into money, and those who have earned it, you can tell the difference immediately.
I had some bitcoin from long time ago that I never touched and decided to do something with it and I had to take a look at the "current state of crypto" from a practical standpoint. I was (not very) surprised at how many scams and pitfalls there are doing even the most basic stuff, how much trying to learn and search information points you to the scams, and how difficult and shaky it all is, even when you do the right thing. And this is BTC, it's probably 100 times worse in other coins. In the end I sold everything and I don't want to touch that world ever again.
Are those the ones where the Republicans are ranting about all teachers being pedophiles because they let their children know gay people exist or whatever?
It was honestly less Republicans (capital-R) and more just disgustingly entitled people drastically overestimating their own importance relative to the communities they live in.
One consequence of Trump pulling a lot of newcomers into politics was their naivety at how political processes actually work.
As in, if you don't get everything you want, you aren't immediately justified to escalate and go nuclear.
It's really bad but in my mind there's a dollar amount where I stop feeling bad for the victim for losing. Like if someone's grandpa gets taken for his life savings for $1 million by bank scammers that's horrible but like someone losing $5 million that they were trying to invest in crypto just makes me think they didn't deserve that money in the first place.
It's quite possible that the victims were convinced to try the app by the attacker outside of the Play Store and the app existing on the store was just an attempt to give it additional credibility when they were directed to download it.
The article states it comes from real-estate. That implies some amount of buying and selling. Unless they just happened to have a single 5M mansion sitting around.
Speaking as a millennial, you don't just "get into real estate", usually it's seeded by a large amount of generational wealth/inheritance.
Someone struggling to put a deposit together for their own home isn't going to make bank out of flipping houses and contributing to the shit housing sector. It really is true that all it takes to make money is money, it's almost effortless.
Yobit is an long standing exchange, not one I would use
Yobit Pro was a scam app pretending to be related to that exchange
Crypto returns can be quite fast. If you have $4 million and its not really absurd to take that an order of magnitude higher, and be used to the volatility of it going lower.
There are plenty of “random crypto apps” that work fine for any amount of money
Don't let your own paranoia get in the way
“Not your keys, not your coin” remains true for “Yobit Pro”, FTX and established players like Coinbase
Plenty of random crypto apps are self custody apps that work fine
The people running Yobit Pro are probably using similar levels of OPSEC, and just have a lot more crypto now. This PvP aspect of crypto keeps it going.
Okay, but this woman didn’t own crypto, she owned an app that says she owned crypto in an exchange/brokerage
That has nothing to do with crypto and everything to do with this fake exchange scam, and even with a real exchange it has to do with consumer education on using non custodial apps
It’s downright weird that you have this other mental category for things that say crypto where your mental processing power throttled to the conclusion is “its crypto so let me blame the victim instead and ignore who chose to create a victim while they sent her death threats on whatsapp”
It’s more that the closer you get to crypto, the closer you get to something being a scam. If you are close enough to it that you think to invest 5M in it, I expect you to be aware of that. People do more due due dilligence when buying a washing machine.
Obviously it sucks for the lady, but to some extend it certainly deserves a financial darwin award.
Your lack of nuance about “crypto” and predilection of blaming victims is toxic.
That sector has plenty of things that follow the expected social contract of all parties, which can and does support balances of $4 million and far higher.
Your unwillingness to see that is not really a productive conversation here, although you’re in like company right now on this forum, you shouldn't be.
