Australian financial educator Scott Pape pretends to "join the game" to fight crypto scammers who stole his image

Odaily reports that Australian financial educator Scott Pape (also known as the "Barefoot Investor") has publicly described how he is fighting against cryptocurrency scammers who are impersonating him to defraud his fans. Pape stated that he and his team have been reporting hundreds of fake Facebook groups that mimic his image in an attempt to lure people into scams. Pape did not wait for Facebook to delete these groups (which could have led to a surge in fraudulent activities during this period), but instead decided to reach out to the scammers and explain in detail the process of their fraud. He added that further research has shown that many US regulatory and financial supervisory authorities have previously warned that some fake "wealth institutions" promise to provide cryptocurrency trading courses through WhatsApp. In such scams, a "professor" provides fake trading signals to the gang members, encouraging them to invest funds, while an assistant communicates with the investors. Once enough funds are raised, the gang disappears with all the money, changes their identity, and targets new victims.