Crypto really does need to be outlawed. Just another way to prey on the elderly.
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Despite all those warnings, the chain’s owner this year re-upped its deal with crypto ATM firm Bitcoin Depot. That arrangement pays Circle K rent, which can generate thousands in revenue at each store annually.
Money is the only language they know how to speak.
Just saying For an elderly person today (ofc these were victims ~3-4 years ago now), it's not all that surprising to (a) have amassed $300k net worth, and (b) give it away to scammer because people crave human connection
Thank you for sharing that. This is the answer I was looking for. I don't do crypto myself so this is a fascinating peek into that world.
Everything is relative. Top salaries you're referring to are a very small fraction of workers today. For many $300k is indeed a life savings.
There are two popular ways to launder bitcoin that this article doesn't really cover.
- Use a non KYC bridge to convert bitcoin to a privacy chain like monero, then when they want to use it, convert it to another currency like USDC. This effectively erases where the money came from and looks like clean money.
- Use a mixer which is a giant wallet shared by many people. Then the person laundering can send the cash directly from the wallet in small amounts when they want to use it.
TBH $300k isn't that much for a lifetime of savings. That's a nice house and maybe 1 year of top salary.
It's not like a million or two
be elderly
If by saying "be elderly" you mean "being cognitively compromised by natural aging", then sure I can see that, but usually those that have massed that level of wealth have people to shield them from these kind of scams. Still, on this list this one I agree is the most likely.
have no human contact
I seems like a very rare use case for someone to have $300,000 in liquid assets/cash that would not have human contact. I'm not saying its impossible, but it seems like the confluence of those two things would be extremely rare.
someone acts like they really love you
I would think someone asking you for $300,000 would be a sign they don't really love you.
- be elderly
- have no human contact
- someone acts like they really love you
Don't judge people at their weakest being preyed on by the most cynical
From your link:
Victims testified to the financial impact of the scams. One victim claimed that she lost her life savings after a man she met on a dating site told her to send $300,000 to Ian Freeman, while another took out three loans and sold her husband's truck to send money to the scammer in a similar scheme.
I will always be shocked how someone could come by $300,000 (through legitimate or illegitimate means) and simply pass that whole sum to someone else without understanding the enormous risk they take on themselves.
Oh, the usual way: with a pedophile grifter running churches and romance scams
co-conspirators opened and operated accounts at financial institutions in the names of various churches including the Shire Free Church, the Church of the Invisible Hand, the Crypto Church of New Hampshire, and the NH Peace Church
Honest question, How exactly does one "launder" Bitcoin?
Is it just a regular exercise of making purchases with Bitcoin into other physical assets or possibly straight cash for those wanting Bitcoin when they already have cash?
I was about to mention AI before I read the title
it would me a shame if the school did sports and events that make lots of dust.
Storage zoning means they don't have to go through noise assessments. It's a legal loop-hole.
I have no idea what “storage” zoning means, but how does zoning allow industrial uses right next to a school? This is clearing not similar to a self-storage facility, but more like a small manufacturer
I think it's funny that even "trusted" sites are not to be trusted.
Remember when the president couldn't conduct business whilst serving their term... Something something Jimmy Carter peanut farm
I hurting myself trying to think of something more lame.
We went away from company money ages ago. We don't need it to come back.
Poor guy doesn't realize that the price is constantly going down. The amout he is going to get at the end of the year is less than the estimate.
Check this movie: https://youtu.be/in5g0iTnYe8
It is long, after the introduction you can skip to 12:30 where he talks about the profits and also goes into on-grid and off-grid.
Only a matter of time before there is some sabotage attempt by desperate residents
The more I learn about living in Texas , the happier I am with the town I live in…. In massachusetts