There’s a lot of money to be made in crypto — if you are a scammer

Ben Rothke
5 min readJun 7, 2024

Don’t invest in what you don’t understand

Warren Buffett understands a thing or so about making money. He nailed it on the head when he observed, “Investment must be rational; if you can’t understand it, don’t do it.”.

If someone is going to invest in a biotechnology company, for example, that doesn’t mean they need a Ph.D. in complex biological systems. Instead, they need to understand the core business model.

And that is why scammers have jumped on the cryptocurrency bandwagon to scam people. Many people are caught up in the notion that they can quickly make a lot of money in crypto, yet are oblivious to how it works and the risks.

Let me describe one of the many cryptocurrency and Bitcoin scams. A few times a week, I get unsolicited texts, Telegram, and WhatsApp messages like these:

The first red flag should be the 3 silly award stickers. But people are blinded to that with the promise that they can easily make millions.

Or consider this Karin, who says she is Professor Andrew’s assistant. She claims crypto…



Ben Rothke

I work in information security at Tapad. Write book reviews for the RSA blog, & a Founding member of the Cloud Security Alliance and Cybersecurity Canon.