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ARTICLE · 01 NOVEMBER 2023

Don't Promote If You Don't Know: The Cryptocurrency Fairytale

Global Advertising Lawyers Alliance (GALA)
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Cryptocurrency is definitely a risk as its intangible nature aids unscrupulous people to carry out scams.

United StatesTechnology
Triana Uribe & Michelsen Ltda
Triana Uribe & Michelsen Ltda
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Cryptocurrency is definitely a risk as its intangible nature aids unscrupulous people to carry out scams.

In 2020, a group of highly recognized Colombian influencers, - most of them have over 4.5 million followers - Yefferson Cossio, Mateo Carvajal, Elizabeth Loaiza, and Alejandra Serje, started promoting a cryptocoin called Daily Cop. Allegedly, the first Colombian cryptocurrency.

However, it was a scam that collected funds from over 200,000 people and collected over USD$25,000,000.

The influencers posted in their social networks, that they were earning profits of 0.5% per day or 12% a month, inviting others to invest. Now, said influencers are claiming to be victims themselves.

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