NFTs and cryptos busted – A Ponzi-like casino shut down in the metaverse

Games are made NFT Scams, Scams and Other Scams Unfortunately they are very common in the blockchain world. ” Pharaoh Bitcoin ” and others ” Baby Al Caponee represent so many quasi-romantic facts that mark the news, often leaving many victims on the floor. This week, it’s the arrest of two casinos in the metaverse that’s getting the ink flowing. The latter hid his game almost well.

Poker tricks for the US regulator

USA’let’s learn on October 20, 2022 in an official press release from Texas authorities. The Texas securities regulator, along with Alabama and Kentucky, submission of enforcement measures against Slotie NFT, a crypto project on the Ethereum blockchain. The project aims to create casinos – suspected of fraud – in the metaverse.

of Flamingo Casino Club AND Sand Vegas CasinoClub find themselves caught by US justice, confirming the international financial police’s thirst for crypto-regulation:

“State securities regulators have taken the initiative to warn investors about new investment programs related to the metaverse. Although blockchain technology, digital assets and metaverses are attracting widespread public interest, bad actors are now using their interests to carry out fraudulent schemes.

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NFT and crypto: Slotie shows his cards

From the beginning, NFT Slotie Project did not warn well. Indeed, our cheaters were already in the eyes of American justice sales of NFTs that did not correspond to standards of laws applicable to securitiesthe famous one securities. In other words, Slotie was breaking the rules of the game.

The sale of NFTs made it possible to raise funds for casino building in the metaverse. Holding these NFTs allowed passive daily returns, determined by the shortfall of the NFT. 10,000 NFT slots were sold.

This whole little game doesn’t stop there. Slotie changes pleasures. Our brigands would also have released WATT, an ERC-721 token on the blockchain Ethereum. The game mechanics of our cheats then fall into place. A Slotie NFT allows you to get at least 10 WATT per day. In addition, it is possible to create a Junior NFT Slot for 1800 WATT and 2 NFT. Holding a Junior NFT doubles your daily passive income and allows land in the Slotie casino metaverse.

Fool game with US crypto regulation

Beyond the frequent lawsuits over the declaration of NFTs and other assets as securities, US justice appears to be scrutinizing Slotie’s finances. Concealment of funds and lack of transparency are at the meeting of this project.

“State securities regulators have discovered that Slotie is illegally and fraudulently trading Slotie NFT and Slotie Junior NFT. For example, they accused Slotie of concealing its assets and liabilities, the projected use of capital, the identities of partner casinos and the main risks of the casino metaverse. They also said Slotie violated state registration laws.. These are important laws designed to protect investors.”

A casino that looks like a Ponzi pyramid

Fraud, bad publicity, concealment of funds, identity of partners, misinformation about risks are all ingredients that are supposed to remind us all that it is essential to stay careful in our still new ecosystem.

So when we also look at Slotie’s website, some clues can tell us that the ground is mined:

  • On his LinkedIn profile CMO Tas Nicolaou the link on its website points to a domain name that does not exist;
  • The company developer’s LikedIn page is empty. It has exactly the same text as that of CMO Tas Nicolaou ;
  • More than half the team doesn’t mention Slotie on their social media;
  • There are no partners despite the existence of a tab on the project website.

And the list goes on…

This is not about getting rid of all the features of this dark project, but more underscore the importance of doing your own research.

Crypto regulators from all countries and even the G20 seem to be joining in an effort to regulate cryptocurrencies. from A coin IN Kim Kardashian, scams, crypto scams and other Ponzi schemes are common. In fact, the metaverse provides a perfect playground for cheaters 3.0. Interpol announced this night again the opening of its offices in a criticized and criticizing metaverse. Nothing is working anymore.

Stay away from spammers and scammers. Avoid too good to be true offers like the plague. On the other hand, also learn to have reasonable trust in respected and known players in the ecosystem. The FTX platform definitely falls into this second category. Come buy and trade your first bitcoins and other cryptocurrencies. Sign up to FTX. You will benefit from a lifetime discount on your transaction fees (commercial link).

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