The New York Times - Millions for Crypto Start-Ups, No Real Names Necessary

in blockchain •  3 years ago 

https://www.nytimes.com/2022/03/02/technology/cryptocurrency-anonymity-alarm.html
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More and more crypto entrepreneurs are doing business through mysterious Internet avatars, many of them managing hundreds of millions of dollars in investor funds.

Last year, in just a few hours, some $60 million was raised by the anonymous founder of the crypto collective AnubisDAO. But less than a day later, the funds were disbursed in the second largest rug pull of the year.

Brian Nguyen, a crypto entrepreneur who used a pseudonym last year, said that things with these pseudonyms are very dangerous. He once lost more than $400,000 in such a crypto rug pull scam:

  • An anonymous developer set up a project,
  • Requested funds from investors, then
  • They disappeared with the money.

Beware of anonymous crypto investments, are you sure it is not a rug pull scam?

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