Assuming this type of punishment have been used for some of the founders of the numerous shitcoins we have, that would have brought sanity to cryptocurrency. Those founders have gone rogue, moving from one project to another just to scam people after making empty promises. I have lost money to them before so I know how painful it is losing money to scam. I think this will serve as a deterrent to others who might be contemplating launching their scam of a project. 

You think they could have reduced? Aside from Trump and his family who launched their own shitcoin and their power in office helped build trust around the token which made investors invest in that trend and their money gets dumped there.

Many of these shitcoins' developers are known, and their projects have been confirmed to be pumped and dump also faces some criminals charges they are not allowed to go free as long as there are evidence to link the project to the identity of someone, but the major problem is that most of the shitcoins out their don't have any figure or face behind them that could be held accountable which is where the scammers are always getting away with their scheme.

It is common to us who has common knowledge about these ponzi schemes.

But for those people who don't know it yet, those are the targets of these scammers. Without personal knowledge about how their trick exists, they're the desired victims.

As long as there are greedy people who think money grows easily as promised by these ponzis, there will be victims falling for it.

Ponzi scams always work and bring money to scammers because people don't change human instinct even there are enough resources to learn about scams including Ponzi scams.

Investment Scams & Ponzi Schemes 🎩
Ponzi Scheme 101.
Cloudmining 101 (ponzi risk assessment).
MLM – a dangerous marketing strategy. The example in that topic is Bitconnect but you can search for another famous Ponzi scam: Onecoin.

When people are ignorant, they are easily deceived by technological development. I have seen some advert on social media that promises significant returns because the platform trades using artificial intelligence. Unsuspecting victims are easily convinced that using AI to trade guarantees returns. Ignorance and greed are the cardinal causes of becoming victims of scams.

He has not been sentenced yet, but he faces up to 280 years. He would be sentenced on November 30, 2026. He was found guilty of 11 counts and might not serve the full number of years if the jail term is concurrent.

I don't know if I will say is greed or ignorance that has caused this in this current generation?  Because I still can't help but wonder what the actual problem is. However, is Ponzi schemes scam is no longer a new thing since it has been a old format of scamming for sometimes now,  I wouldn't know why people are still falling victim for such cheap scam.  And again, I think people really needs to engage in more tangible and reliable activities that will earn them sure living not to always put hope on how to make fast money, I believe this is mostly the problem.

You can barely see someone that live up to that amount of age they just mentioned. I think you're right when you said it is equivalent to death penalty and that serves him right, maybe this will be a big lesson for those that are already in that same line of dirty business.

I won't say it's ignorance. I believe it's chiefly desperation that makes people fall for such. I said desperation because I've watched that pattern for a very long time and observed that most times those who fall for such aren't ignorant folks. They aren't people who are even in abject poverty either. They're simply people who are desperate to scale their finances or whatever position they're.

Recently, I've been monitoring a trading channel where the owner shows screenshots of his wins. There's room for monthly subscription and all that for those who want signals there too. Sometimes, the owner shows pictures of before and then later of how price went. I'm not convinced that they're actually taking those trades on a live account. It's simple. Owner could open two accounts on demo and take opposite trades on the same pair. Then display the one trade that wins to his unsuspecting followers.

That's ludicrous sentencing for me. Who lives 280 years now when we aren't talking nof biblical characters?

In this case, the problem isn’t cryptocurrencies themselves, but the method used and the people who believe in it. Normies buy cryptocurrencies whilst completely ignoring their potential and deeper meaning. This scoundrel has only been thinking about getting rich and will meet his fate; the fact that he used crypto rather than shares is simply down to the current trend. If seashells were the thing tomorrow, they’d start using those too.

I think you're right cause the ones that succeeded in scamming people in my locality where never punished, maybe it was done behind the seen but if authorities made if public, then it would help reduce the rate of ponzi schemes, but i blame the victims more cause they don't learn.

There are people that's become addicted to ponzi schemes, i know a dude that lost money to a particular ponzi scheme but still shared his referral link to people to join a new one. When i reminded him of his previous lose to ponzi he said he's among the early birds of the new one and would cash out before they crash, you could imagine the mentality of many victims out there.

That is about 2920 years too short.

He should have been sentenced to 3000 cycles of somatic reconditioning and banishment to the phantom zone.