Crypto Influencer FatManTerra refunded over $100,000 received from crypto users looking to buy into his “made-up” investment scheme that was a cover for sending an educational message to the community on crypto scams.
FatMan took to Twitter to trick his followers by pitching a fake investment scheme. He wanted to gauge their response to crypto investment scams.
Received access to a high-yield BTC farm based on a private carry trade operated by an up-and-coming fund. I’ve maxed out what I could, so there’s some leftover allocation and I thought I’d pass it along – priority will be given to UST victims. DM for more details if interested.
— FatMan (@FatManTerra) September 5, 2022
In less than 2 hours of sharing the opportunity, he had received over $100,000 from users who fell for the trick. He raised 3.45 BTC from users on Twitter and 2 BTC from his Discord community.
Inspired by Lady of Crypto, a while ago I pitched my own investment scheme to Twitter…
In two hours, I received over one hundred DMs. I raised 3.45 BTC from Twitter and 2 BTC from Discord – over $100k, with more requests flooding in by the minute.
But there’s a little twist.
— FatMan (@FatManTerra) September 5, 2022
FatMan has refunded the money and noted that his intention was to teach the crypto community to be wary of influencers promising opportunities that are too good to be true.
I have refunded every person who sent money in full.
There was no investment.
Risk-free high yields don’t exist.
Free lunches don’t exist.
Influencers have started scamming on Twitter, and before more of them crop up, I want them to know:
We will work to take you down.
— FatMan (@FatManTerra) September 5, 2022
FatMan’s approach to campaign against investment scams reiterates the age-long warning to crypto investors:
“There is no free launch in crypto,if you don’t understand where the yield is coming from, you are the yield”
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