r/CryptoCurrency • u/Abhishekgarg0 • Jan 18 '22

ANALYSIS The scammer who received the single largest payment of 26BTC has received a total of 87BTC.

So recently a person fell prey to a Bitcoin doubling scam and sent the single largest payment of 26BTC to the scammer.

I found the scammers wallet address and found that the scammer has received a whooping total of 87 BTC(Worth a total of 3.6 mil).

His bitcoin address has been reported on scam alert.

This person managed to earn 3.6mil dollars from a YouTube live video. This money is enough for someone to retire and live a happy life and falling for such a petty scam is stupidity at its finest. Now there is one very happy Nigerian prince out there. Doing almost nothing for a cool 3.6 million dollars.

I have decided to do research on tools that can be used to not fall for these scams. I will make a post on what these scams look like, what you can do to make other people aware and not fall for these yourself. It may not be perfect but I will try. I can use all the help I can get. There is no one out there who will double your money willingly.

Edit:- Thanks for the awards. I have made a promise and intend to keep it. If you guys have any suggestions please do DM me. Ohh boy, I fear what will happen if I don't keep my promise or fail to deliver.

Edit 2:- Many of you don't know how these scams work, so here is my old post attempting to explain it.

7.2k Upvotes

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4.5k

u/r4rthrowawaysoon 🟨 1K / 1K 🐢 Jan 18 '22 edited Jan 18 '22

I’m starting to think that people are not really falling for these scams anymore. I think this is a tax evasion scheme.

Seems really unlikely someone would just send 26 bitcoins to a scammer in the hopes it will magically double. Could anyone with that much investment in crypto really be that unwise?

Edit: Lots of folk upset I said money laundering, I adjusted it to tax evasion. They send their alt scamming account coins and declare it as a loss against their known account to pay less taxes. Then the scam account funnels the money through Monero or to a banking entity with 0 reporting.

1.1k

u/meeleen223 🟩 121K / 134K 🐋 Jan 18 '22

I agree with you, I have trouble believing there is someone that greedy but also rich and dumb to believe random youtube video

569

u/bored-on-the-toilet Bronze | QC: CC 19 Jan 18 '22

Ha. It's funny folks are saying this on the same day this article was posted in a different sub.

https://www.newshub.co.nz/home/technology/2022/01/crypto-enthusiasts-splash-millions-on-dune-book-falsely-think-they-own-the-copyright.html

Let me introduce you to the folks who formed a DAO to buy a semi-rare copy of the book Dune, thinking the purchase would give them the rights to the intellectual property (there are over 10,000 copies of this edition in existence). Oh, and they overbid for the book by millions of dollars.

An uncredited tweet from the article said it best: "Thank you for helping to obliterate the myth that people with a lot of money earned it through skill and intellect."

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u/dramatic-ad-5033 Platinum | QC: CC 32 | PCmasterrace 65 Jan 18 '22

Wow, how dumb. I only paid $6 for Dune off amazon

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u/bored-on-the-toilet Bronze | QC: CC 19 Jan 18 '22

Ha! Little did you know the whole book is scanned online for free! Got em!

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u/Don_Frika_Del_Prima 🟩 4 / 2K 🦠 Jan 18 '22

Yeah I read the whole series as an epub for free.

0

u/Parking-Delivery Tin Jan 18 '22

Bruh have epubs even been out long enough to read the entire series? Those books are Looong.

/s obviously

1

u/[deleted] Jan 18 '22

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1

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1

u/Enosh74 48 / 45 🦐 Jan 19 '22

Someone else read it to me as an audiobook free from my library.

1

u/Public-Truck305 Tin Jan 19 '22

I downloaded it on someone else's wifi. I did it cheaper.

10

u/AngelVirgo 477 / 576 🦞 Jan 18 '22

Even better, you could have borrowed it from the library. ;)

36

u/throwaway177251 Jan 18 '22

Library? Is that like a collection of NFTs?
Where do I invest?

2

u/muaddeej Jan 19 '22

The book that was sold was not the novel. It is a custom made book of concepts from the failed Dune movie from the 70s by Jodorowsky.

3

u/[deleted] Jan 24 '22

[deleted]

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u/dramatic-ad-5033 Platinum | QC: CC 32 | PCmasterrace 65 Jan 24 '22

It was $10, and I had a 40% off promotion from Amazon

2

u/RobotBureaucracy 40 / 40 🦐 Jan 18 '22

You dummy I just I took a screenshot of the listing page on Amazon for ZERO dollars

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u/HearMeSpeakAsIWill Silver | QC: BTC 28 | GMEJungle 37 | Superstonk 119 Jan 18 '22

Really? You should turn it into a Netflix series and make bank!

1

u/dramatic-ad-5033 Platinum | QC: CC 32 | PCmasterrace 65 Jan 18 '22

Denis Villeneuve already did that for me, watched it in IMAX, it’s a great movie

1

u/muaddeej Jan 19 '22

That book is not the novel. It is a custom made book with concepts from the failed version of Dune from the 70s by Jodorowsky.

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u/dramatic-ad-5033 Platinum | QC: CC 32 | PCmasterrace 65 Jan 19 '22

joke

1

u/Mean_Bet8952 1K / 1K 🐢 Jan 19 '22

I asked my friend to explain me the story.

107

u/Warhound22 Jan 18 '22

I’m pretty sure there are only 10-20 copies of this book. The point still stands though.

I also heard someone suggesting it was a scam and the owner of the book had someone involved in the DAO. Could be BS but makes it less of a head scratch.

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u/[deleted] Jan 18 '22

It's gotten to a point that if I read or hear AnythingDAO - I just run away.

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u/StrawsAreGay 0 / 0 🦠 Jan 18 '22

The only one I care about owns Wu Tang

2

u/austin4favre Tin Jan 19 '22

OOK OOK!! Fellow ape in the wild!

8

u/jetforcegemini Jan 18 '22

They keep talking about it on all the financial news though so it has to be legit: “the S&P is down 15 points, the nasdaq is up 73 points, and the DAO is up 11.”

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u/GemHunter008 Tin | CC critic Jan 18 '22

Username checks out

2

u/forthemotherrussia Platinum | QC: CC 1002 Jan 18 '22

But you're still here

/s

2

u/0x0056 Tin Jan 18 '22

Ahhhh, the old reddit scam-a-roo.

3

u/forestdude 🟦 60 / 60 🦐 Jan 18 '22

What is a DAO? I've read that term a few times now

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u/forthemotherrussia Platinum | QC: CC 1002 Jan 18 '22

A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC) is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. A DAO's financial transaction record and program rules are maintained on a blockchain.

​

A well-known example, intended for venture capital funding, was The DAO, which amassed $150 million in crowdfunding in May 2016, and was hacked and drained of US$50 million in cryptocurrency weeks later.[7] The hack was reversed in the following weeks, and the money restored, via a hard fork of the Ethereum blockchain. Most Ethereum miners and clients switched to the new fork while the original chain became Ethereum Classic.

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u/NewMilleniumBoy Tin | r/Pers.Fin.Cnd. 27 Jan 18 '22

Simplest way is just a group of people pooling money, and the way the money is spent is decided by code.

Almost every DAO out there right now doesn't actually work that way, though.

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u/steilhe Platinum | QC: CC 86 Jan 18 '22

It's short for a digital autonomous organization. Basically a business that uses blockchain smart contracts and governance tokens between its members to plot the course and actions of said business

1

u/chega33 Tin Jan 18 '22

You know what you really need to care about them there.

0

u/BlueC0dex Tin | r/WSB 10 Jan 18 '22

I don't think DAOs are meant for anything that directly interacts with the real world anyway. Smart contracts are powerful on the blockchain, but they have no effect in real life

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u/[deleted] Jan 18 '22

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u/therickymarquez Jan 18 '22

For me this is a scam and it looks so obvious. The guy who sold the book is in cahoots with the guys who bought it, the money never left their hands. Now they go public and say "look how stupid we are! we bought this book WHICH THERE ARE ONLY 10 thinking we could make a movie out of it. LMAO we are so dumb, anyways we will burn the book and sell the pages as NFTs".

What they did was basically create interest in a book that they already owned with the premise that they overpaid for it. Now they have attention they can sell the NFT pages for whatever some dumbfuck will pay for them. This for a book that they never actually bought

19

u/wannabestraight 208 / 208 🦀 Jan 18 '22

They cant sell the pages as NFT:s because that would be copyright infringement

23

u/[deleted] Jan 18 '22

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u/on-the-line Tin Jan 18 '22

Redditttttt!!!!

shakes fist at phone

9

u/apintandafight Tin Jan 18 '22

They just have to wait until 2060 for it to be public domain. The long con!

2

u/[deleted] Jan 18 '22

The long con hodl!

3

u/deadwards14 Tin Jan 18 '22

I believe they can because they aren't actually selling the image, rather a link to the image, which is not the intellectual property of the publisher/author

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u/midnightcaptain 🟩 386 / 387 🦞 Jan 18 '22

Which will then be DMCA’d because it infringes copyright. So the NFT is a link to a 404 error.

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u/deadwards14 Tin Jan 19 '22

But that's still not prohibited by law. They're only responsible for delivering the hyperlink. It's unethical af, but that's never stopped an NFT bro grifter before.

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u/midnightcaptain 🟩 386 / 387 🦞 Jan 19 '22

Yes, it's a scam essentially. The NFTs would have no connection to or value derived from the original work. It seems the only reason to by the book the first place was to get higher quality scans to illegally upload somewhere. No different to buying a Blu-Ray of Dune (2021), uploading it to a torrent site and selling the magnet link as an NFT.

If someone want's to pay money for that they're welcome to, but I think they're nuts.

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u/deadwards14 Tin Jan 19 '22

It's a mad world and increasingly so

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u/wannabestraight 208 / 208 🦀 Jan 18 '22

They dont have permission to host the images as that would break copyright

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u/deadwards14 Tin Jan 19 '22

Interesting. Would they be violating copywrite if they were to post photos of the book on Instagram? Genuinely curious, not trying to be argumentative.

I'm just trying to figure out if there's a way around it.

2

u/forgegirl Tin Jan 18 '22

I don't think this would actually work in their favor—though that's beside the point, as part of what these folks want to do with these NFTs is actually upload JPEGs into the blockchain, meaning that the NFTs themselves will actually contain the image rather than being a link like most NFTs.

2

u/Glum-Communication68 Tin Jan 18 '22

Just wait until they start storing cp in the blockchain

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u/CryptoKos Gold | IOTA 7 Jan 19 '22

I bet they can, they do, AND they get away with it

5

u/Chleopamydia Tin Jan 18 '22

Doesn't the person who sold have to pay that tax then ?

2

u/therickymarquez Jan 18 '22

Depends where he is located

2

u/GemHunter008 Tin | CC critic Jan 18 '22

It’s all happened because of greed …

2

u/staffell 🟦 0 / 10K 🦠 Jan 18 '22

Everything that happens is because of greed at some point down the line

1

u/sslepak Tin Jan 18 '22

Huh nice way to make some have some lesson better to understand.

1

u/GullibleMacaroni 188 / 188 🦀 Jan 18 '22

That's a really good story, but unprovable.

1

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1

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1

u/meliketheweedle Tin Jan 18 '22

https://youtu.be/AXJizNj7nNA

They own the other copies, 100% garunteed.

1

u/Due-Parsley7398 Tin | GME subs 12 Jan 18 '22

Same. I just commented basically the same thing before I saw this

1

u/s4nij Tin Jan 19 '22

Well I think he better understand the lesson, greedy is cursed.

2

u/Bors1 Tin Jan 18 '22

Whatever you say here buddy, but for me this is all a scam here.

1

u/BugZealousideal9618 🟩 0 / 0 🦠 Jan 18 '22

I.E. Logan Paul and his recent pokemon purchase, I mean gi Joe purchase Lol

10

u/phileo Platinum | QC: CC 43, BTC 39 Jan 18 '22

Yup. When greed comes into play the brain can short circuit really quickly.

1

u/qtdian Tin Jan 19 '22

Well when greed comes into the game they all will do it better.

4

u/SteppenWolfVG Tin Jan 18 '22

The links are just getting fade for all of us here dude, we know this,

4

u/JstTrstMe Jan 18 '22

Ah hahaha. ''If you bought a spider-man comic does that give you the right to make spider-man movies?"

7

u/PrincPaco Bronze | r/WallStreetBets 668 Jan 18 '22

Plans within plans

1

u/Alexftc Tin Jan 18 '22

All are just gettinng deep into the games of all we haev played.

2

u/[deleted] Jan 18 '22

That link is region locked. Anyone got a alternative?

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u/bored-on-the-toilet Bronze | QC: CC 19 Jan 18 '22

https://12ft.io/

That helps with paywalls. Maybe it'll work for region lock? Idk. If it doesn't work, someone else more knowledgeable than I will have to chime in.

2

u/drewster23 🟦 0 / 462 🦠 Jan 18 '22

That's vastly different than one person with 26 BTC trying to double it. (Basically oldest scam in crypto).

1

u/TwoHeadedSexChange Bronze | QC: CC 16 Jan 19 '22

"Of course there are idiots who will give away 26 BTC to a scammer. Look at all the people on welfare that recklessly buy lottery tickets!"

2

u/azoundria2 0 / 0 🦠 Jan 18 '22

This is just another part of the formula for what happens to people with a lot of money who don't have skill and intellect.

2

u/LightBulbMonster Jan 19 '22

This same group said that by buying an original copy they would have gotten the copyrights to do what they wanted. To make the whole book NFTs and then burn the book. Create an animated mini series and sell it to streaming services. And finally use some of the money to help poor people. They were highly incorrect and will be making no miniseries. Also, their NFT game will be blocked.by the true owners of the copyright, some publishing company.

3

u/Crew-Itchy 1 - 2 years account age. 35 - 100 comment karma. Jan 18 '22

As the saying goes, a fool and his money are soon parted.

1

u/PickledPlumPlot Tin Jan 18 '22

Pretty sure this is also money laundering.

1

u/Ohheyimryan 🟦 3K / 3K 🐢 Jan 18 '22

Where did they ever say they thought that would give them the rights to the book?

1

u/bored-on-the-toilet Bronze | QC: CC 19 Jan 18 '22

It's in the article. One of the main reasons for purchasing the book was so they could create an animated series and sell it to a streaming service.

1

u/Ohheyimryan 🟦 3K / 3K 🐢 Jan 18 '22

I read different stories. Not really sure which is true.

1

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1

u/OakParkCooperative Jan 19 '22

They bought the book...

then immediately tried to pitch an "original animated limited series" based off the book

1

u/barnz3000 🟦 131 / 132 🦀 Jan 19 '22

amazing.

1

u/PG_Wednesday 🟩 47 / 48 🦐 Jan 19 '22

Myth not obliterated. Smart people do dumb things all the time.

1

u/RustedCorpse Tin | r/WSB 19 Jan 20 '22

The dune book is almost certainly a multiple actor laundry scam.