The BRICS are making global headlines for challenging the US dollar and planning to usher in a new era in the global financial order. The BRICS alliance aims to end the traditional financial system and create a new world order dominated by developing countries. Taking advantage of global financial news, scammers recently launched a decentralized fake cryptocurrency called BRICS.
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The fake BRICS cryptocurrency was in its early stages when scammers offered an Initial Coin Offering (ICO) to promote the currency, reported Security issues. The cryptocurrency hit Telegram and other social media channels, attracting investors from the developing world.
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In addition to scamming investors, developers also spread false information about new countries planning to join the alliance. The fraudsters made use of geopolitical narratives to weave their own chronicles of a new world order dominated by the BRICS. The false narratives profited from investments made by developing country holders.
Fake BRICS cryptocurrency carpet removed on day 1 of its launch
After attracting investments during the ICO days, scammers launched the fake BRICS cryptocurrency into the markets. To attract new investors, scammers promised fake airdrops of XLM tokens and refunds worth thousands of dollars.
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No wonder the developers removed the fake cryptocurrency and took the money of gullible investors. Your Telegram channel and other social networks are deleted and no one can access them. The only thing investors own now are screenshots of their chats, charts and nothing else.
The scammers disappeared without a trace simply by making use of a global development called BRICS. There are hundreds more stories like this where innocent investors are lured into investing their money for incredible returns.
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It is recommended to remain alert and cautious and not invest in obscure cryptocurrencies out of thin air. Remember, it is easier for scammers to get your money today than at any other time.
