Re:Things cryptocurrency enthusiasts probably won't tell you
by Animats on Saturday September 23, 2017 @01:39PM
(#15320774)
"You didn't know that was a scam? Don't you subscribe to Offshore Alert?"
There are still people putting money into MMM, which is a long-running scam with its own Wikipedia article.[1]
The binary option industry, run out of Ramat Gan in Israel, was a whole industry of bucket shops pretending to be brokers. It got so big it was 40% of Israel's financial sector. About 95% of binary option investors lose their entire investment. Turns out it's legal in Israel to scam non-Israelis. Once that came out, it became a political embarrassment.[2] “Binary options is causing anti-Semitism around the world.” - a member of the Knesset.
There are still people putting money into MMM, which is a long-running scam with its own Wikipedia article.[1]
The binary option industry, run out of Ramat Gan in Israel, was a whole industry of bucket shops pretending to be brokers. It got so big it was 40% of Israel's financial sector. About 95% of binary option investors lose their entire investment. Turns out it's legal in Israel to scam non-Israelis. Once that came out, it became a political embarrassment.[2] “Binary options is causing anti-Semitism around the world.” - a member of the Knesset.
[1] https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company) [2] https://www.timesofisrael.com/unhappy-with-bill-israels-coal...