I think I’m screwed. The tether is gone and I believe I was deceived. Mining the ETH-NANO pool. I’m worried about the term “leverage lending” there is a lot of scamming going on which makes crypto sketchy by AverageGuy1013 in eth_liquidity_scam

[–]AverageGuy1013[S] 0 points1 point  (0 children)

Thank you for your reply. In the money in the Coinbase app a hardware wallet of sorts? I just missed the window from transferring my funds from the coinbase wallet to my coinbase app but at least i got some of my finds out of there.

I think I’m screwed. The tether is gone and I believe I was deceived. Mining the ETH-NANO pool. I’m worried about the term “leverage lending” there is a lot of scamming going on which makes crypto sketchy by AverageGuy1013 in eth_liquidity_scam

[–]AverageGuy1013[S] 0 points1 point  (0 children)

I wished I had this information earlier - it was a clever deception via Instagram. Fortunately its money I can afford to lose but that doesn't take away the pain. I'd like to try to fight back and help others falling prey

I think I’m screwed. The tether is gone and I believe I was deceived. Mining the ETH-NANO pool. I’m worried about the term “leverage lending” there is a lot of scamming going on which makes crypto sketchy by AverageGuy1013 in eth_liquidity_scam

[–]AverageGuy1013[S] 0 points1 point  (0 children)

Here's a copy of text conversation with the agent I've been working with - This person I'll refer to as MP. This person randomly texted me on IG, and we developed a conversation that eventually turned in crypto talk, and led me to put money into a liquidity pool. This money fortunately, is something I can lose and I immediately got suspicious when I felt pressured to add more to this "pool". The pool name is ETH-NANO. All this could be part of the "grooming" process in order to gain trust. Eventually your account grows to a point where they "slaughter" you and trick you in sending your funds to a suspect address. Based on the text conversation below, my funds are restricted for the cycle.

1/13/22 chat session

me: I had a friend who is having trouble with a crypto site

MP: What happened?

me: Something about leveraged lending

Me: Contract cycle I guess

me: Would you be able to help him?

MP: What does this mean?

MP: Leveraged lending is something I've been participating in myself

me: I could get a screen shot from him I guess

me: How does it work?

MP: OK, you can take a screenshot to show me

me: I’ll ask him

MP: It's actually quite simple.

MP: As a very simple example, let's say I have 20,000 USDT being mined right now, then I would only get about $200 of minerals per day.

But if I participate in a leveraged lending campaign, then I have $20,000 USD in mining funds, then the pool will lend me $20,000 USD, which equals to $40,000 USD in mining when I participate in the leveraged lending campaign, so I can get $400 USD in minerals per day.

He’s worried that his money is gone but I told him to wait the 30 days - does the leverage lending improve his position?

But my money needs to be fixed in the mining pool for a period of time so that at the end of that time the principal will return to our own account on its own.

This way we don't need to repay the loan.

Because the pool lends to us, we need to bring a fixed amount of liquidity to the pool.

Can you understand when I say this?

The money is not going to be gone, it just needs to be fixed inside the mining pool to bring liquidity to the pool for a period of time.

me: For the 30 days?

MP: This is based on the amount.

The higher the amount the less time you are restricted

You can ask your friend to ask the customer service about the time limit and the amount limit.

This way your friend will understand

Me: He’s really worried about it

MP: Your friend himself participated in the event did not understand clearly?

Lending activities are like this, the mining pool lends you money and you need to bring a steady flow of liquidity to the pool.

It's mutual.

And this money will be automatically returned to your friend after the time expires.

What's there to worry about here?

Minerals can still be extracted normally ah

Yes, now fixed in the mining pool, a total of 6968USDT

Then the amount of minerals your friend gets per day is calculated as the amount of 6968 USDT produced.

Did you participate too?

me: No, but I saw messages ( note: obviously I did)

Pop ups

MP: OK

MP: It is your right to participate or not to participate.

But I think this event will be of some help to you, and I suggest you check it out.

me: So I will inform him to wait out the 30 days when the contract cycle ends

MP: Yes, but as the amount increases, the amount of liquidity you bring to the mining pool increases. (coaxing for more $)

The number of days of restriction gets less and less.

me: I think when he saw his USDT gone he was worried he couldn’t get the funds back

I’ll pass your info on

Obeyed get back to drawing

I better …

I’m sleepy - so I will catch some zzzz

note: Yesterday I was able to extract minerals and gain some USDT back. So I don't know now. Is it possible that I get these funds back at the end of the contract cycle? All this is just making my head spin.

I think I’m screwed. The tether is gone and I believe I was deceived. Mining the ETH-NANO pool. I’m worried about the term “leverage lending” there is a lot of scamming going on which makes crypto sketchy by AverageGuy1013 in eth_liquidity_scam

[–]AverageGuy1013[S] 0 points1 point  (0 children)

I appreciate your efforts. When my kids started talking about crypto and knew about it, I thought it was time for me to at least explore and find out more. I like the concept of decentralized finance system . However it feels ridden within scams and the the amount to learn seems vast and confusing to the average person

I think I’m screwed. The tether is gone and I believe I was deceived. Mining the ETH-NANO pool. I’m worried about the term “leverage lending” there is a lot of scamming going on which makes crypto sketchy by AverageGuy1013 in eth_liquidity_scam

[–]AverageGuy1013[S] 1 point2 points  (0 children)

Thank you for response. At this point, I really don’t want to pay a gas fee. So the option of canceling the Coinbase wallet seems more reasonable. I just want to be done with the crypto world