Greed and the Trap

Recently, social networks were abuzz with news that TikToker NNA (Happi Mommi, born in 1995) was accused of fraud when he called on the community to invest in a virtual currency project.

This person rose to prominence as a young mother sharing insights into life, business, and investing.

TikToker NNA (Happi Mommi, born in 1995) is accused of fraud for allegedly encouraging the community to invest in a cryptocurrency project.

However, instead of simply sharing inspirational content, Happi Mommi leveraged her personal fame to encourage hundreds of people to join the CSCJ cryptocurrency project.

As a result, many investors lost everything after pouring money into a "pie in the sky" project with unrealistic promises, while Happi Mommi disappeared and gradually reappeared in recent months.

The above story is not an isolated case. Recently, the trend of KOLs (influencers), and even famous entrepreneurs, promoting cryptocurrency projects has become increasingly common, creating numerous negative consequences.

Initially, they used their personal charisma to paint a promising picture, but when the project failed or disappeared, most chose to remain silent, leaving thousands of investors penniless.

One of the prominent names in this wave is streamer ViruSs - a figure with significant influence not only in the gaming field but also in technology and finance.

ViruSs previously promoted Zuki Moba, a GameFi project (a blockchain game combined with finance) with a "play-to-earn" model.

The appearance of ViruSs helped the project gain significant attention, attracting many investors to pour capital into it.

However, when the cryptocurrency market entered a difficult phase, the price of Zuki Moba's coin plummeted, losing almost all of its initial value.

And then, the project gradually disappeared from the market, taking with it the billions of dollars in investments from many people.

In fact, there have been many similar incidents around the world , showing that not only Vietnam, but the whole world is witnessing a wave of KOLs exploiting their fame to manipulate the market.

According to experts, the common pattern of individuals promoting virtual currencies is to take advantage of their personal image to build trust with the community, then introduce digital currency and virtual currency projects with promising words.

The difference is that not everyone plays the same role. Some people are actually involved in investing, even working behind the project development team.

However, there are also many cases where people simply receive payment to be the face of a brand or promote a project without fully understanding its true nature.

To avoid legal risks if the project collapses or they are accused of fraud, these individuals employ a very clever approach.

They rarely directly call for investment with specific words like "invest now" or "this is an opportunity not to be missed", instead they just stop at the level of introduction, sharing personal experiences or suggesting opportunities.

Some KOLs and entrepreneurs even took a cautious approach by emphasizing: "This is not investment advice" or "all investment decisions are made at the individual's own risk."

In theory, these statements could help them avoid legal liability if the project fails.

But in reality, the way it's presented can easily create a strong psychological effect, leading the public to mistakenly believe that this is a sure-fire opportunity to profit.

The eloquent words of celebrities have a huge influence, especially in a market where greed and FOMO (fear of missing out) often dominate the decisions of many investors.

In reality, these clever marketing tactics can lead thousands of people to invest in cryptocurrency projects without anticipating the risks.

When the market goes down or the founding team disappears, these investors realize they've been caught up in a pipe dream and are facing severe financial consequences.

Source: https://www.baogiaothong.vn/long-tham-va-cam-bay-192250327214002472.htm