Prominent trader John Bollinger has issued a warning regarding fraudulent schemes associated with cryptocurrencies that exploit his name to deceive investors.
Scammers' Scheme
Fraudsters act under the guise of Bollinger, using counterfeit copies of his book "Bollinger on Bollinger Bands," originally published in 2001. These fake traders operate under the name Diamond Ridge Asset Management, which appears to be a fictitious company.
Victim Losses
Bollinger reported that one victim lost as much as $60,000 by trusting these scammers who offered bogus investment opportunities.
Bollinger's Warning
In his warning on Twitter, Bollinger emphasized, "Never, never accept solicitations on 'my' behalf! It is also copyright infringement, but that is another story."
Fraud in the cryptocurrency sector continues to pose a significant threat to investors. Traders should be particularly vigilant and avoid trusting offers based on the names of reputable specialists.
