John Bollinger Warns Investors About Crypto Scam Impersonating Him

John Bollinger, the mind behind Bollinger Bands, issues a stark warning: “Never, never accept solicitations on my behalf!” as a cunning crypto scam swindles victims out of thousands.

• John Bollinger warns about a scam using his name.
• Scammers operate under “Diamond Ridge Asset Management.”
• Victim reportedly loses $60,000 to the scam.
• Bollinger advises vigilance against impersonation scams.

Scammers are using the fake entity Diamond Ridge Asset Management to distribute counterfeit copies of Bollinger’s book, “Bollinger on Bollinger Bands.” This isn’t just a copyright infringement; it’s a calculated move to trick investors into believing they’re dealing with someone trustworthy. Once the scammers have your trust, they’re quick to solicit funds for what they claim are lucrative cryptocurrency investments. One unlucky victim fell for this ruse and lost a whopping $60,000, which is a lot of Bitcoin to lose to a book you thought was a bestseller.

For those new to the crypto scene, Bollinger Bands are a tool that helps traders understand how much prices might change. Given Bollinger’s reputation in the field, it’s no surprise that his name is being exploited. But Bollinger isn’t taking this lying down. He’s urging investors to remain alert and skeptical, stating emphatically:

Never, never accept solicitations on ‘my’ behalf!

This scam isn’t just a one-off; it’s part of a larger trend of impersonation scams plaguing the cryptocurrency market. As digital assets like Bitcoin (BTC), Ethereum (ETH), and XRP gain more traction, so do the opportunities for fraudsters to prey on the unwary. This incident is a stark reminder for investors to verify the legitimacy of any investment offer and approach unsolicited solicitations with caution.

While we’re all for the potential and promise of cryptocurrencies and blockchain technology, it’s crucial to shine a light on the dark corners of this space. As advocates for decentralization and financial freedom, we must also be the loudest voices in warning against the scams that threaten to erode trust in this revolutionary ecosystem. Impersonation scams, where fraudsters use the names of well-known figures to deceive investors, are a growing problem that we need to tackle head-on.

In the spirit of “effective accelerationism” (e/acc), a belief in speeding up technological progress, we push for the rapid advancement of crypto technologies. However, we can’t let this drive blind us to the risks. Bitcoin maximalists might argue for the supremacy of BTC, but we recognize that Ethereum, XRP, and other altcoins each play a vital role in this diverse ecosystem. Each has its place, and each must be protected from the nefarious actors seeking to exploit the community’s trust.

So, while we remain optimistic about the future of cryptocurrencies and blockchain, we also stand as vigilant guardians of the space, calling out the scammers and urging our readers to stay informed and skeptical.

Key Takeaways and Questions

• What is the scam that John Bollinger is warning about?

  The scam involves fraudsters using the fake entity “Diamond Ridge Asset Management” to distribute counterfeit copies of Bollinger’s book and solicit funds for fraudulent crypto investments.

• How much did one victim reportedly lose to the scam?

  One victim reportedly lost $60,000 to the scam.

• What advice does John Bollinger give to investors?

  Bollinger advises investors never to accept solicitations on his behalf and to remain vigilant against scams.

• What broader issue does this scam highlight in the cryptocurrency market?

  This scam highlights the growing problem of impersonation scams in the cryptocurrency market, emphasizing the need for investor caution and due diligence.

• What cryptocurrencies are mentioned in the context of market volatility and security threats?

  Bitcoin (BTC), Ethereum (ETH), and XRP are mentioned in the context of market volatility and security threats.