How to lose 100,000 pesos in a cryptocurrency scam (PRDAE) [PS: Crypto arbitrage does NOT work]

Even if we’re usually good at avoiding scams, we can still fall victim to the social engineering of the scammers. The specific name of this scam is PRDAE or Pacific Rim Digital Assets Exchange. Learn what the red flags of a crypto scam are, and how to avoid getting scammed.

BTW if you’re hearing about crypto arbitrage as this hot new thing, STAY AWAY from the so-called gurus on YouTube! This is something that only highly skilled traders can do with lots of capital money and specialized fee arrangements. You cannot earn money trying arbitrage as an amateur with a few hundred bucks, and you will most definitely LOSE money.

Tags: Ponzi Investment Scheme, Pyramid Scheme, Crypto Fraud, Scam, Burning Money, Rug Pull, Cryptocurrency, Social Engineering, Crypto Arbitrage

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Chapters:
0:10 The Story
1:29 The Glitch
2:15 The Case

3:50 Lessons Learned
1. There’s no such thing as quick money.
2. If it sounds too good to be true, it probably is.
3. Trust, but verify.

4:26 Red Flags
1. 4:39 Aggressive marketing & recruitment.
2. 5:11 Golden goose-like attractive earnings.
3. 6:09 No clarity on how money is being made.
4. 6:40 Withdrawals require human approval and several days of waiting.
5. 7:21 Mobile application is side loaded — it’s not on official app stores.
6. 8:16 Dubious-looking website domains and unpolished sites.
7. 8:53 Very little information online about the company.

Видео How to lose 100,000 pesos in a cryptocurrency scam (PRDAE) [PS: Crypto arbitrage does NOT work] канала The YouTube Experiment by ADTC