His opensource VTOL project may be one the most delusional crypto projects out there.
Social engineering scam that nearly cost me all of my ETH
101–110 of 423 posts
Re: Social engineering scam that nearly cost me all of my ETH
#102Earlier quoted context omitted.
Hacker sends NFT to Thomas. Since NFT's are subject to heavy criticism of their existence, a lot of people are developing extra things you actually can do with them. The market is interested in that being done right, so its interesting to be a part of projects that are trying. This extra thing required Thomas sending the NFT to another service they developed. Smart contracts in Ethereum Virtual Machine environments (…
> a lot of people are developing extra things you actually can do with them To be clear, the “thing” in this instance is NFT staking: a ponzi upon a ponzi where you buy a NFT and then lend it to a platform, which pays you fees. Platforms can advertise ridiculous yields (200% APY) because deposits go right out the door again as fees to people higher up in the pyramid. https://learn.bybit.com/defi/what-is-nft-staking/
I have a feeling that it's all going to end really bad.
Re: Social engineering scam that nearly cost me all of my ETH
#103News flash: you were social engineered into buying ETH in the first place.
I paid off all my student loan debt and bought a house last summer because I got scammed into buying ETH about 2 years ago. Thanks for your insight though.
Re: Social engineering scam that nearly cost me all of my ETH
#104Earlier quoted context omitted.
Eth is a premine scam sure, but the dude has $130M Of it, so I don’t think he is crying over that part
How much purchasing power does that afford? If he wanted to buy an island, pay for it to have infrastructure added, and then also hire security and business payroll, could he actually exchange the Eth to the applicable currencies? I know the numbers line up, but is that amount of liquidity in the system?
> could he actually exchange the Eth to the applicable currencies? I know the numbers line up, but is that amount of liquidity in the system?
Yes, Coinbase, Binance and other big exchanges offer OTC trading where you can trade pretty large amounts without impacting the market at large.
Re: Social engineering scam that nearly cost me all of my ETH
#105I am curious why is all of Thomas 100M+ in a single wallet ?
Also it seems strange to hold most of it in aETH, wouldn't you want to diversify a bit?
Re: Social engineering scam that nearly cost me all of my ETH
#106News flash: you were social engineered into buying ETH in the first place.
I paid off all my student loan debt and bought a house last summer because I got scammed into buying ETH about 2 years ago. Thanks for your insight though.
That just means that you were part of the scam. Hell; somebody approvingly reading this comment might be the bagholder of the future, shooting himself after all of his savings have evaporated into some ETH tycoon's pocket who dumped before the market locked up.
Re: Social engineering scam that nearly cost me all of my ETH
#107Earlier quoted context omitted.
> a lot of people are developing extra things you actually can do with them To be clear, the “thing” in this instance is NFT staking: a ponzi upon a ponzi where you buy a NFT and then lend it to a platform, which pays you fees. Platforms can advertise ridiculous yields (200% APY) because deposits go right out the door again as fees to people higher up in the pyramid. https://learn.bybit.com/defi/what-is-nft-staking/
I have a feeling that it's all going to end really bad.
That often happens, yes.
Imagine if they got his $100m! That would be an article for a whole half of a week!
Re: Social engineering scam that nearly cost me all of my ETH
#108Earlier quoted context omitted.
There’s no advantage, just laziness. A wallet like that shouldn’t be easy to access and should never be used for for anything other than funding their other hot wallets.
Concentration of funds is a great advantage for borrowing.
Why would someone borrow when they already have funds? For example I heard of one guy locking up $600k collateral to borrow $300k. Makes no sense.
Re: Social engineering scam that nearly cost me all of my ETH
#109[deleted]
Re: Social engineering scam that nearly cost me all of my ETH
#110Earlier quoted context omitted.
I don't see it that way at all. The NFT vector is arbitrary. The point was to drain his accounts and nothing more. If a less suspicious method was available, I'm sure the scammers would have taken that one.
Is there any case of NFT that is not some combination of get-rich-quick scheme, Ponzi scheme, search for a bigger fool, FOMO-powered stupidity, extracting money from naive people or satire of NFT? And NFT part adds anything substantial and is not replaceable by regular transfer (either transfer of money or BTC-like)?
NFTs could be used to manage domain names, which might be a helpful replacement for ICANN.