Pipcoin creater Ref Wayne resurfaced recently — again promising returns that are too good to be true.
Readers may remember the two exposés on Ref Wayne and Pipcoin published in 2016. Touting Pipcoin as Africa’s first cryptocurrency, Ref Wayne sold units at R100, promising monthly returns of 35% while he was pocketing the money. (See goo. gl/47C3b3 and goo.gl/Zb5bpw for articles on Pipcoin.)
It did eventually become a cryptocurrency called SAcoin, but the vast majority of investors never got their coins, losing 100% of the money they gave him. A few did get their cryptos, but its value has been trading at only a few cents.
Now Ref Wayne is back. He popped up on my Twitter stream punting a multi-level marketing (MLM) scam before being challenged about the Pipcoin failure, which prompted him to delete his account. This time, however, he is a mere foot soldier in a broader global scam which claims that we can all become rich from foreign exchange (FX) copy trading.
Denne historien er fra 7 June 2018-utgaven av Finweek English.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra 7 June 2018-utgaven av Finweek English.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
THE HEALTH OF SA'S MEDICAL SCHEMES
As the Covid-19 pandemic abates, finweek takes a look at the financial performance of some of the largest players.
The effect of Gilbertson's departure
With Ntsimbintle Holdings now the major shareholder of Jupiter Mines, it could change SA’s manganese industry.
Making money from music
Why investors are increasingly drawn to the music industry.
Conviction is key
Sandy Rheeder plays a critical role in Mukuru’s mission to open up financial services to the emerging consumer market in Africa through tailor-made technology solutions and platforms.
The post-pandemic toolkit
How CFOs can use technology to support growth.
Big city living exodus
Mini cities like Waterfall City and Steyn City are redefining city-style apartment living.
Big compact, big value
Handsome, with a hefty level of standard specification, the roomy Haval Jolion compact crossover is a great value proposition.
On barriers to entry
There are various ways in which a company or sector can achieve competitive dominance. They usually make for good investments.
Fear and greed in one index
To buck the trend, when markets are hot or cold, is a tough thing to do. However, it can deliver solid returns.
Africa's largest data centre facility coming soon
Vantage Data Centers plans to invest over R15bn for its first African data centre facility in Attacq’s Waterfall City.
