By CCN Markets: Cryptocurrency evangelist and educator Andreas Antonopoulos has warned that the bull run the bitcoin price has been enjoying has revived fraudulent activities in the crypto space.
Bitcoin price has tripled and scammers want to ride the wave
In a series of tweets, Antonopoulos indicated that the prolonged crypto winter had driven scammers away. But now with the bitcoin price having nearly tripled from its 2018 low, bad actors are back with a bang.
Antonopoulos likened the current wave of scams as reminiscent of the period between August and December 2017. This was when the bitcoin price from below $3,000 to a record high of nearly $20,000.
Per Antonopoulos, the new wave of scams has been running for about a month now.
The cryptocurrency evangelist also disclosed he was receiving between 10 and 15 requests daily to conduct ‘influencer marketing’ to ride the rising bitcoin price wave. Antonopoulos, who has turned down the requests, says the pay ranges between $25,000 and $250,000. This is for the purposes of either endorsing, reviewing or promoting a project on social media.
Antonopoulos hits out at ICOs
In what could amount to a blow to the ICO sector, Antonopoulos claimed that a whopping 99.99 percent of initial coin offerings/initial exchange offerings were pump-and-dump schemes:
Please educate your friends and family:
– Promises of profit are 100% ponzi
– Request to “recruit”, “affiliate” etc are 100% pyramid schemes
– ICO/IEO are 99.99% pump-and-dump
Antonopoulos attributed the growing scams to a new wave of FOMO – Fear of Missing Out.