The Expert Podcast

Look for the past two years plus almost three now . We've received a lot of inquiries from people that were scammed by some fake . Crypto investment scheme or some online fraud or online scam And a lot of times it was just a made up company that made it look like they were an investment and they promised to put your money in Bitcoin or something else . And it turns out that even some of the major platforms that were more or less legitimate . Are . Creating the losses for investors Here's a company called 3AC (Three Arrows Capital) . They had $10 billion of investor money , $10 billion . They went bankrupt and . There . Executives are gone dirt . They're missing
This is not one of these online kind of fly by night scams that were taking people's money This was a legitimate big time company presumably . And who knows where the money went . The money's gone and the founders and the , executives are gone . This isn't like a Ponzi scheme . You know social media chain letter company This was a big time company that were , that was you know major in the marketplace So as these crypto Bitcoin type . Security start to reduce in value . It's turns out that some of these were leveraged so high . That unless the value stayed at that higher level , it didn't create the capitalization for these . to continue as an ongoing concern . So if you've been a victim , Of one of these companies if you have money in , let us know what happened . Did you have any warning signs ? Did you have any advanced notice Did they ask you to put more money in at the end ? Before they went bankrupt . Because these crypto . Scams are starting now to unwind . The other reason we know this is because the large volume of inquiries we got for online scams really happened between . you know the middle of the end of 2019 and the , and the end of 2021 . The end of last year beginning of this year , the volume started to decrease And that means there was less of these scams out there because the values of cryptocurrency was going down and less people were interested in doing it Now we're back to . You know , corporate fraud embezzlement asset checks that kind of thing . And even probate fraud . But the crypto scams are starting to slow down because this was a flash in the pan . This was the crypto investing and the frauds around it . was kind of a one-time event . That has seemed like it's past its prime .