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this post was submitted on 18 Aug 2023
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Did the average person/average internet user fall for it? No.
Did the people who fell for it get sucked into what was basically a cult that sucked the money out of a decent amount of people? Yeah.
The numbers for some of these scam projects were honestly insane.
Ah, probably my filter bubble then.
I'd like to read more about this, do you know of any specific cases?
If you have time, I would suggest CoffeeZilla on YouTube. He basically just get into crypto scam, which isn't hard to find these days. One specific case I would look at is the influencers taking on pretty much any scam projects to get money. The series is with Oompaville. A great watch.
I don't think it's even possible to calculate how much real money was lost to this stuff.
Huh…so does web3 actually mean anything then?
Yeah, I have only a little sympathy for the people who got pulled into the get rich quick scheme, particularly younger people who hit some money only to get caught in what was basically a gambling addiction.
I have way more sympathy for their friends and family who either tried to financially support them when they hit rock bottom, or those who got scammed or stolen from just to pump more money into this bubble.