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New Zealand Latest Destination for Crypto Scammers

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New Zealand Latest Destination for Crypto Scammers

A famous face in New Zealand is the latest person to be dragged into a crypto scam. After being made aware of it, the TV host took to the airwaves to clear the air.

If fraudsters worked as hard at a real job as they did at their scams, they’d probably make more money. The amount of time and effort that scammers put into their schemes must be exhausting. In our fast-moving world, they probably always have to be ready to think out of the box and develop new ways to swindle unsuspecting victims.

Some fraudsters tend to rely on the creation of an air of legitimacy to get people to part with their cash or crypto. Even when hacking well-known Twitter accounts, they make sure that some equally hacked famous people tweet positive comments. Live bitcoin News recently reported on a Facebook scam that used a fake Sir Richard Branson to advertise their product.

New zealand latest destination for crypto scammers

Fraudsters Target New Zealand

Now, according to Television New Zealand (TVNZ), another well-known face has been roped into a scam. A presenter on the show, Daniel Faitaua, has taken to the platform to advise the public that he has not endorsed any cryptocurrency in the wake of news of a fictitious interview that he apparently conducted.

A few fake news websites have reportedly been circulating an article based on the interview targeting those with “absolutely no investing and technology experience”. Faitaua is said to have invested $250 in bitcoin while interviewing an investor.

Fake Faitaua then nearly doubled his profits within a few minutes, prompting the reporter covering the story to also invest and score enough money for a vacation abroad. If you’ve even been skimming legitimate bitcoin articles, you’ll know that returns on investment of that magnitude are just not possible with today’s prices.

Potential victims are then lured to the dodgy investor’s website where they too can be a part of this magical rainbow party by parting with their cash.

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Faitaua Issues Scam Alert

After being made aware of the scam, Faitaua addressed the New Zealand public. According to The Next Web, he said:

I just want you to stop for a second. Wherever you are, just stop. A number of websites have been posting a story saying this show, Breakfast, had a young bitcoin investor on for a chat, and during the chat, he helped me invest money, which I made a huge profit on straight away. Well, that’s a lie. It is fake news, and whatever you call it – it’s not true. It is a scam. The interview they say we did never happened. I have never invested in bitcoin, and therefore I never made the profit they say I did.

It is unclear if these fraudsters were successful in their shady endeavor or even who they are. One thing is certain though and that’s that these scammers will try anything to make a quick buck and it’s up to people to use their common sense when it comes to parting with their money, be it virtual or fiat.

Have you ever been the victim of a crypto scam? Let us know in the comments below!

Images courtesy of Shutterstock

The post New Zealand Latest Destination for Crypto Scammers appeared first on Live Bitcoin News.

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CORION Announces ICO Details for its Revolutionary Platform & Stable-Rate CryptoCurrency

CORION (https://www.corion.io) full-service blockchain platform powered by a revolutionary new stable-rate token, today announced final details for their public crowdsale to begin on June 18th and end July 30th, 2017.

[Note: This is a press release.]


CORION Platform Offers the Easiest Way to Enter the Crypto World

Built on Ethereum Classic, the CORION stable-price token eliminates the guesswork that comes with fluctuating prices. Its algorithm enables special automated inflation-deflation control, assuring the stability of the CORION token as a stable means of payment worldwide. CORION’s white papers can be found here.

Participants in the CORION crowdsale will gain access to the CORION Platform, and have stable-price digital tokens deposited in their multifunctional CORION Wallets immediately, allowing instant, low-cost payments. Early investors will receive a 25 percent bonus the very first day, 20 percent bonus during the first week, a 15 percent bonus the second week, and progressively lower bonuses throughout the campaign. Investors will also be incentivized by CORION’s affiliate reward of 1-5 percent.

Funds raised through CORION’s  crowdsale will be distributed to further developments and investments managed by the CORION Foundation (50 percent), to the Stability Fund managed by the Foundation (25 percent), to the team members for their two year of work (16 percent), future developers and associates working on the CORION Platform (4 percent), and marketing, promotions, and growth (5 percent).

CORION’s Marketplace allows anyone with a minimum purchase of 3,000 CORION tokens (a $2,400 investment) to join the community as a Service Provider and start their own business and start acquiring customers. The marketplace provides an excellent tool to promote any business online or offline anywhere in the world. From there, the mainstream crowd is engaged through affiliate programs and shopping communities that generate demand for usage of the platform. As business grows, so does the token supply, thus fuelling the system  and allowing users to earn daily rewards from staying active within the community.

The CORION Platform also features a built-in automated inflation and deflation control system that ensures the stable price of the coin to carry out transactions. If the price of CORION rises above $1 on the main exchanges, (i.e. there is a demand for more tokens), the system will release a maximum 2.5 percent additional tokens daily. On the other hand, if the price of CORION drops below $1 on the main exchanges, (i.e. there are more tokens in circulation then the system needs), no tokens will be emitted. To make sure the system works, set fees are calculated after each transaction and later burned to make sure they never appear in the system again.

Miklos Denkler, CEO of CORION, explains:

One of the biggest deterrents for new cryptocurrency users is the hassle of monitoring the hugely fluctuating prices of cryptocurrencies. With CORION, the price of the token remains stable, giving community users all the freedom to buy and sell in the marketplace without a major financial risk. We look forward to introducing CORION to a larger audience through this token crowdsale and putting investments towards funding this truly revolutionary platform.

For more information on CORION and its upcoming crowdsale, please visit: https://www.corion.io

About CORION

CORION is a multifunctional platform for businesses and individuals to join and build a worldwide decentralized network based on mutual benefits, simplicity, security, cost-effectiveness and speed. The Platform provides and hosts secure, convenient, and instant financial transactions using CORION, the stable means of payment. CORION encourages users to build businesses and services on it and it is ideal for beginners and anyone looking to enter into the crypto world. For more information, visit https://www.corion.io

The post CORION Announces ICO Details for its Revolutionary Platform & Stable-Rate CryptoCurrency appeared first on Bitcoinist.com.