Today's Hard|Forum Post
Today's Hard|Forum Post

Wednesday August 29, 2012

"Pirateat40" Makes Off $5.6M USD in BitCoins

If you had a Bitcoin deposit in the National Bank of Pirateat40, you no longer have to worry about your deposit: it’s gone. The scheme’s originator, known as ‘Pirateat40’, has pretty much evaporated from the scene leaving a large amount of investors wondering how to recoup their losses.

And of course, the onus for these losses largely rests on those who sent someone named "pirateat40" actual money, and failing to recognize the classic signs of a Ponzi scheme -- inflated interest rates, shadowy management, and unrealistic promises.