The Crypto Room – Another crypto scam in the making? Fraudster runs misleading YouTube channel

Tl;DR Breakdown The Crypto Room is turning out to be another crypto scamMikey follows typical ‘Pump-and-Dump’ scam pattern Crypto scams are nothing new. As the crypto industry goes through puberty, the scams are hard to identify and even harder to prosecute. The crypto-related rules and policies are still under construction which makes the scammers more brazen in their attempts to defraud the investors. From Telegram channels that artificially inflate any crypto’s price to slick scammers masquerading as YouTube crypto experts, the crypto scams are getting elaborate every day. And they are not at all shy about it. So much so that crypto scams peaked in 2021 and involved serious crimes including money laundering. However, it’s the pesky low-key cryptocurrency scams that often go unnoticed till they balloon into something awful. Here at CP, we believe it’s crucial to identify scams before they snowball into an industry-wide fraud. Unearthing The Crypto Room One such crypto fraudster roaming under the garb of YouTube channel ‘The Crypto Room’ is Mikey. Typical of any other scam, the guy makes random crypto-related videos discussing superfluous topics featuring crypto jargon. Mikey pretends to be a crypto guru and uses click-bait laden videos to attract a gullible audience. On the face of it, his channel aims to offer insight into the crypto realm with daily news, industry updates, and investment advice. Mikey wa...