First she documented the alt-right. Now she's coming for crypto.

[swag]

https://wapo.st/3mhiSLm

By Gerrit De Vynck

In a strange, animated YouTube video, Cryptoland paints itself as the ultimate utopia, featuring luxurious villas, a casino and a private club, all located on a pristine island in Fiji. Built by and for cryptocurrency enthusiasts, it was looking for investors.

To Molly White, the project wasn’t just cringeworthy bluster, it was promotional material for yet another potential scam — one that was targeting the money of real people. Digging into Cryptoland’s organizing documents, she found a business plan full of contradictions and other red flags, like an address in the Seychelles islands, a tax haven that has hosted previous high-profile crypto scams.

White unpacked the project in a dashed-off Twitter thread, which went viral, kicking off a wave of criticism and ridicule and spawning copycat videos that boast millions of views. Now, Cryptoland’s website appears inactive, and supporters have abandoned it. Requests for comment to its founders were not answered.

A 28-year-old software engineer who writes Wikipedia articles for fun, White is an odd figure to make the crypto industry cower. On her website, Web3 is Going Just Great, White documents case after case of crypto malfeasance: investments that turn out to be scams, poorly-run projects that collapse under mismanagement and hacks that drain supporters’ money.

. . . more

https://wapo.st/3mhiSLm

[stopdiggin]

1. maybe it's about time for regulators (i.e. those nasty, nasty banks and governments)

(and probably more importantly, the consumer as well) - to move off the fence from a skeptical but grudging 'acceptance' - to a much more robust, "Oh, HELL No!"

How many more 'pieces of the puzzle' are really necessary .. ?
A Ponzi scheme - is a Ponzi scheme - is a ..