Pat Wright
π€ SpeakerAppearances Over Time
Podcast Appearances
And then when there was 20 grand there, they just disappeared.
This account was deleted.
It's all done in Bitcoin.
There's no like chargeback.
You can go for credit cards and stuff.
You know, they went to the police.
There's nothing they can really do.
And, yeah, that's gone.
And for that guy, I guess what's most upsetting for him is the money, I guess, can be recovered.
But he's lost friends and some people just don't talk to him again.
And, you know, his family.
You know, he's had family members who lost a lot of money and he's just lost all trust from those people.
And I felt really, you know, really sad for him.
But at the same time, it's like, you know, I guess there's a thing there which is around if something does seem a bit too good to be true,
you need to be particularly cautious.
And it's not just like Instagram, it's not just crypto.
There's a lot of variations on this, that kind of theme where someone promises you huge returns, you know, I ask you to hand over money and then suddenly they disappear or it becomes like a Ponzi type scheme, which is in this case basically what it was.
Yeah.
And I guess that's, I guess something I would say to your listeners as well is like, think about that kind of compound interest as well.
Like, I guess if you think about that situation through this person's promising 50% returns a year, a month, sorry.