this post was submitted on 04 Jul 2023
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is masscoin.vip a scam? (lemmy.world)
submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]
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Hey there.

All my scam-alarmbells are ringing, but I'd like to have a little perspective because I never got into trading with crypto at all.

A friend of mine apparently put about $70k in different crypto into masscoin.vip Then there seem to have been some hijinx with mistyped adresses, and talks with support later, masscoin.vip representatives tell my friend, that they need to fork over another 10% of their holdings, so another $7k, to validate their account or something.

This has to be a scam, right? The Money is gone, and since it was put in via crypto there is no way to recover it?

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[–] [email protected] 6 points 1 year ago* (last edited 1 year ago) (1 children)

Without even checking:

YES. YES IT IS.

Edit: any time you see a crypto project:

  • prioritizing funding before they even have a plan

  • no working/novel technology,

  • is simply an ERC-20 or Binance token

THEY ARE A SCAM.

[–] [email protected] -2 points 1 year ago (1 children)

I mean from my glancing it seemed that masscoins exist and there was technological foundation behind that bit.
I just thought that that broker was a scam, because of, extremely weird business practices

[–] [email protected] 6 points 1 year ago (1 children)

I looked them up just now. Red flags EVERYWHERE. Trust me: It is a scam.

[–] [email protected] 3 points 1 year ago (1 children)

thanks for being a second set of eyes.
I came to the same conclusion with basically 0 experience in trading crypto.

I just do feel bad about the insane loss, even though it was due to insane stupidity.

[–] [email protected] 5 points 1 year ago

No problem.

I don’t feel bad. There are SO many good, legitimate projects with actual, verifiable tech stacks that haven’t popped yet. The projects that target degenerate gamblers are easy to spot and this one has all of those red flags.