Every time money is involved in any business model or project, there is a good chance an exit scam will occur sooner or later. In the cryptocurrency industry, such exit scams are a lot more common than one might think. The following examples show how one should never trust another person on the internet, no matter the business model involved.
Influencer Crypto Brahma’s Moon Club
It is not uncommon to see “cryptocurrency influencers” pop up on social media these days. More often than not, these self-professed financial gurus offer trading advice for a fee. In the case of Crypto Brahma, things got sour pretty quickly. Despite successfully running the Moon Club group – which yielded a fair income – he eventually disappeared after pulling what many claim to be an exit scam.
It appears he used a lot of funds for margin trading and made some bad calls down the line. Interestingly enough, he promised investors to return the money eventually, but it is unclear if he ever met his self-set deadline. It is a great example…