Lately, celebrities including Johnny Dang, Khoa Pug, and streamer ViruSs have become “hot” names in the crypto community.
There was a time when scam organizations misused celebrities, such as star movies, football players, or hot girls, for crypto projects advertisements to attract investors.
However, the most common trick is showing off wealth on social media by posting images of a young, successful businessman, wearing branded clothes, driving a luxury car, rolling in money, etc. It is the trick that most people fall into.
This action is also one kind of misleading investors, especially crypto traders.
How does this scam really work?
First, the developers create a particular coin/token. Then they boast about the investment projects and unrealistic profits to mislead investors.
After gaining the suitable profit amount, the developer will disappear or be no longer responsible or related to that coin. The purpose of this scam is to take advantage of greed to mislead and scam investors.
To attract investors, scammers will often show off bank accounts with a great amount and boast information that they have earned this money by investing in certain coins/tokens. These guys also promise to help other investors earn enormous profits by investing in their projects.
These guys will link with many other investors to create a wealthy organization. These people are responsible for inviting people who want to quickly gain a lot of profit.
Although there are countless scams, the core of these scams is still taking advantage of people’s greed.
Why do Johnny Dang, Khoa Pug, ViruSs allegedly mislead investors?
The friendship of Khoa Pug and Johnny Dang has been broken now. However, the comments and actions have been allegedly misleading investors for Diamond Boyz Coin (DBZ) – the crypto developed by the “golden king”.
Above all, from June to October, Khoa Pug was very close to Johnny Dang. In the (now deleted) videos, Johnny Dang and Khoa Pug have repeatedly mentioned the DBZ coin. Even in one video, Khoa Pug “showed off” that he owned 10 million VND of DBZ with a value of billions of VND. After Khoa Pug’s videos were posted, the value of the DBZ coin reached a new high peak of 0.14 USD on Sep 29. After that, the coin gradually fell and sometimes bottomed at 0.06 USD on Oct 10.
Consequently, Khoa Pug was criticized for misleading investors to join Johnny Dang’s cryptocurrency project. Thus, in the post on Oct 7, Khoa Pug explained that he only supported Johnny Dang. He said that it was not a problem to lose 10 billion VND (nearly 45,000 USD) to maintain the relationship.
Khoa Pug also repeatedly emphasized that he does not support, call or convince people to invest in cryptocurrencies in general and DBZ in particular. “I am responsible for what I invest in. All profits and losses are mines,” Khoa Pug affirmed.
According to many investors, Diamond Boyz Coin is still a risky token and easily acquired by investors. Moreover, you can only buy and sell it on exchanges, including DeFi, Bibox, Pancake Swap, etc. The transaction is also a complex process.
On the project homepage, the DBZ coin also claims to be a risky project and users are solely responsible for their own financial investment decisions.
Another recent celebrity who allegedly misled investors is ViruSs streamer. A few days ago, businessman Zet Under – an experienced and well-known investor in Vietnam, once left a comment under ViruSs’ video: “With less than 3 months of experience trading in the market but he has mislead others”
This comment was made by businessman Zet Under when ViruSs actively shares his experiences on crypto investment on his TikTok channel with more than 1.6 million followers.
In response to this comment, ViruSs posted a video to say that he respects Zet Under because of his in-depth financial and investment knowledge. However, the businessman’s behavior made him upset.
VirusSs advises Zet Under to rethink and change. In addition, the male streamer also affirmed that he does not have to prove when and how long he has joined the cryptocurrency market before the businessman.
Recently, I.P – a blockchain project that has been introduced and promoted by ViruSs on live stream, has been warned by Lawyer Ha. This lawyer, who has more than 2.1 million followers on TikTok, warns that the project is a gambling game in disguise.
After all, all investment decisions are up to individual investors. Use your own skills and knowledge to make the right investment decisions.
In Vietnam, information about cryptocurrencies (coins) has not been recognized by law. The information in the article is for reference only and not investment recommendations.
GameFi (short for Game + Finance) is a portmanteau of “game” and “finance” runs on blockchain networks designed to merge the fun of games with financialization. The information in the article is for reference only and not investment recommendations.