Fraudsters Launch Fake ‘BRICS Coin’ Cryptocurrency, Scam Investors Out of Money
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Scammers recently launched a fake cryptocurrency named BRICS to take advantage of news around the BRICS alliance challenging the US dollar.
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The fake BRICS cryptocurrency offered an ICO and spread misinformation to attract investments from developing countries.
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After the ICO, the developers launched the fake token, promised airdrops and cashbacks to further lure investors.
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Shortly after launch, the developers pulled the rug on the scheme, disappearing with investors' money.
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The scam shows how fraudsters can easily take advantage of major global developments like BRICS to lure innocent investors into dubious cryptocurrency schemes.