As promoters of zugacoin — a Nigerian cryptocurrency ostensibly created to end poverty in Africa — continue to tout the token as a legitimate digital currency, there are growing reports on social media of merchants and holders of the coin who have failed to withdraw. These reports have sparked allegations that the project is yet another scam which is cleverly disguised as a complex cryptocurrency project.
“The only challenge is lack of knowledge from the users. Anyone can withdraw conveniently if the people that are withdrawing are less than the people who are depositing. No system can survive if what is going out is more than what is coming in. One of the players, Ophi Rume, aka “Cryptopreacher,” told Bitcoin.com News that unless the Zugacoin founder reveals the rest of the team behind the project it will be difficult to make a judgment about the project’s legitimacy. Noting that scammers often exploit people’s desperation and ignorance, Rume, a blockchain analyst and educator, said ordinary Nigerians should only consider investing in this project after doing some basic due diligence.
Meanwhile, another expert who wished to remain anonymous lamented scammers’ growing use of religious titles when marketing their projects to unsuspecting victims. According to the expert, when a dubious cryptocurrency project is fronted by a religious leader, people will refrain from criticizing it. The expert explained:
It's incredible, but $TRIDENT is a bsc token that rewards its owners with automatic passive interest payments every 15 minutes for 13.5 years until the maximum supply volume of 3.25 billion tokens is reached. TridentProtocol DeFi bscgem YieldFarming
No comment 😇
What comes to my mind is the song 'Winchester cathedral' by Crosby, stills and Nash... 'too many people have lied in the name of christ'... This is the actual scam
I only feel sorry for those victims.
🚀 Thnks a millon.
HEX.COM users unaffected
Its probably another shitcoin that is ready to be rugpulled once enough people has invested into it.
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Now I will be happy afterrrr I sawwww this video?
Awesome man, keep doing this creativity, God willing
This is a useful video, I finally got it, thank you
All thanks to my brother for this video, the situation and the real one
Oh my God it works great and really useful I am shocked by this video
Thankss 🚀
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