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  • Why are these scams being ignored?
Why are these scams being ignored?

Cryptocurrency has exploded as of lately, giving opportunities to invest in and make a little money on the side. But unfortunately there are many people who use scams prey on others who aren’t educated enough about the internet.

On the 5th of June 2021, a group of influences created a crypto coin named “save the kids (KIDS)” which was a scam known as a “pump and dump scheme,” this scheme is actually illegal when used in the stock market, but not with cryptocurrencies due to there not being proper laws for cryptocurrency.

Back to the scam itself, there are a couple people who are a part of this; notably Ricegum, Faze Jarvis, Joel Morris and Sommer Ray, who all have a large following. They abused their fame to advertise a scam. At a first glance this token seems mostly harmless, rather good for people. The creators proclaim that save the kids is to help children in need, but in reality they were just using it to take advantage of peoples sympathy.

Scams like this should not be tolerated and there needs to be more rules to prevent this from happening again.

For a more in-depth look at this check out the youtubers someordinarygamers and coffeezilla.
For more of the latest news click here https://dailymanchester.co.uk/2021/10/

-Dylan Case

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