Scams are far from unusual in the world of crypto, but seldom do they involve “mining” the world’s most popular meme coin: Dogecoin.
According to local media in Turkey, a scammer has managed to rip off $119 million from would-be investors by promising huge returns with Dogecoin mining.
The alleged scammer, identified as “Turgut V,” and his team told people in Turkey that they’d get 100% returns on an investment in Dogecoin mining technology, according to Turkish news channel, NTV.
Mining Dogecoin works much the same way as mining Bitcoin—through an energy-intensive process called “proof of work” in which high-powered computers race to solve complex math problems with the winner receiving a reward in the form of cryptocurrency.
Turgut V conned unsuspecting investors into buying Dogecoin and handing it over to him so he could invest it in mining technology, the report said, adding that the alleged victims’ lawyer filed a complaint with the Chief Public Prosecutor’s Office
Źródło: https://decrypt.co/79511/dogecoin-mining-scam-119-million-reports-turkey
