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(Futurism)   Pharma bro Martin Shkreli ends his new Web3 project with predictable results   (futurism.com) divider line
    More: Fail, Coin, Fraud, Token coin, Martin Shkreli, Money, Pharmacology, Confidence trick, Numismatics  
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1398 clicks; posted to Business » on 14 Aug 2022 at 10:15 AM (15 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



32 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-08-14 8:53:23 AM  
It's stories like this that make me sometimes wonder if maybe all of crypto is nothing but a scam. But no, that can't be.
 
2022-08-14 9:18:44 AM  
Ah, yes. Shkreli vs. fringe crytpo speculators. On the one hand, I cannot believe that anyone gave this guy money. On the other...crypto speculators.

Truly a "What happens when an irresistibly untrustworthy force meets an immovably gullible object?" scenario.
 
2022-08-14 10:25:33 AM  
Web 3 = grift
 
2022-08-14 10:28:27 AM  
Was it NFTs of your prescription that you can buy/sell/trade on Open Sea? Silk Road got you beat by 10 years, bud.
 
2022-08-14 10:40:27 AM  
i.imgflip.comView Full Size
 
2022-08-14 10:40:47 AM  

Pocket Ninja: It's stories like this that make me sometimes wonder if maybe all of crypto is nothing but a scam. But no, that can't be.


Fark user imageView Full Size
 
2022-08-14 10:55:58 AM  
Fark user image

/seems legit.
 
2022-08-14 11:14:02 AM  
Web3 developers are working on super-proprietary AI code named "TheRugPull5000" bot. It will be capable of running scams so advanced that the human brain couldn't even fathom the complexity.

It's a very exciting moment in history.
 
2022-08-14 11:21:02 AM  

nakmuay: /seems legit.


It's obviously a scam since the "hacker" wallet is connected to him but since this is the future of finance there are no regulations or safety measures/insurance of any kind and on paper he didn't break any laws.
It's amazing how people invested money in his project when he just got out of prison for fraud.

/code is law, not your keys not your crypto, etc
 
2022-08-14 11:40:39 AM  
Wow something that dbag was involved in seems shady? GTFO here! The thing I hate about aholes like this is they will probably never be on the street begging for change like they should. They might do a TV interview at their home that they are slumming in but it is still nicer than your place.
 
2022-08-14 11:43:38 AM  
At its height, the "Inu" was worth a little less than $0.000015.  So, while he certainly continues to be a scammer dbag, he has fallen far from his "raise the price of life-saving drugs by a few thousand percent" peak.
 
2022-08-14 12:14:48 PM  
This is why people like Bezos and Musk can't just dump all their stock at once.
 
2022-08-14 12:34:15 PM  
How has this guy survived?
 
2022-08-14 12:39:17 PM  
Scrolled down a bit to read the other stories.

Should I be concerned that "BYE BYE BABY
LAWYER FOR CRYPTO LAUNDERING RAPPER SAYS SHE WON'T FLEE BECAUSE OF HER FROZEN EMBRYOS" made perfect sense to me?
 
2022-08-14 12:40:17 PM  
DNRTA...

Did he scam people out of a bunch of money in a shady yet still technically legal way?

If so, the people he scammed got what they deserved. Everyone knows what Shkreli is.
 
2022-08-14 12:40:26 PM  
Lock him up!
Fark user imageView Full Size
 
2022-08-14 12:46:23 PM  

PA Lurker: At its height, the "Inu" was worth a little less than $0.000015.  So, while he certainly continues to be a scammer dbag, he has fallen far from his "raise the price of life-saving drugs by a few thousand percent" peak.


So he may have cleared low seven figures/high six figures. Not too bad.
 
2022-08-14 12:52:19 PM  

TappingTheVein: nakmuay: /seems legit.

It's obviously a scam since the "hacker" wallet is connected to him but since this is the future of finance there are no regulations or safety measures/insurance of any kind and on paper he didn't break any laws.
It's amazing how people invested money in his project when he just got out of prison for fraud.

/code is law, not your keys not your crypto, etc


THIS.
Pharma bros's crypto token was been dumped and immediately lost 90% value, upon which Pharma Bro tweeted "I've been hacked".

A Rug Pull expert looked into the wallet addresses involved, and chimed in: ""Bruh - why is the attacker's wallet funded by you then?"

SIDE NOTE:
Very disappointing that Pharma Bro is getting around a Twitter ban by posting under a different twitter name (."Enrique Hernandez"). He doesn't even try to hide it, which becomes apparent if you read some of Enrique's posts referring to himself as Martin, etc.
 
2022-08-14 1:03:11 PM  

Chief Superintendent Lookout: Web 3 = grift


It's short for "Web Three-Card Monte".
 
2022-08-14 1:57:00 PM  
As I said in the thread where his "venture" was first announced: If you hitch your wagon to anything related to this guy, you deserve the dump truck of manure that will be poured upon your head.
 
2022-08-14 2:35:11 PM  
i.redd.itView Full Size


Shkreli has been "banned" from Twitter. ZkEnrique7 is his burner.
 
2022-08-14 2:37:38 PM  

Pocket Ninja: It's stories like this that make me sometimes wonder if maybe all of crypto is nothing but a scam. But no, that can't be.


Not if you have a cold hardware wallet, bro.

Few understand.
 
2022-08-14 5:12:32 PM  

sirrerun: [i.redd.it image 850x927]

Shkreli has been "banned" from Twitter. ZkEnrique7 is his burner.


I don't buy it

And what's the point of downloading a torrent of the such generic-sounding porn, when there are countless mainstream online porn sites that stream that shiat for free?
 
2022-08-14 5:51:18 PM  
Martin Shkreli - the notorious "Pharma Bro" who was just released from prison in May after being sentenced to seven years because of securities fraud - just dumped a massive chunk of his own cryptocurrency, causing its value to tank.

In July, Shkreli launched a new
Web3 project called Druglike despite being banned from the pharmaceutical industry for life.

I love this guy. Not only is he the direct issuer violating securities law by issuing securities without the proper filings, assurance reports and/or disclaimers, he engaged in thinly veiled fraud aka the resulting pump and dump scheme.  It's like he doesn't know how to not commit securities fraud.

/and by "I love this guy" I mean I hope I die of schadenfreude while watching this POS go to prison again.
 
2022-08-14 7:26:57 PM  

Pocket Ninja: It's stories like this that make me sometimes wonder if maybe all of crypto is nothing but a scam. But no, that can't be.


It's only a scam if you're been told that the purpose of crypto is an investment, and obviously not always so.

For its original purpose, ie. BTC and ETH, its obviously not a scam.
 
2022-08-14 7:30:23 PM  

TappingTheVein: nakmuay: /seems legit.

It's obviously a scam since the "hacker" wallet is connected to him but since this is the future of finance there are no regulations or safety measures/insurance of any kind and on paper he didn't break any laws.
It's amazing how people invested money in his project when he just got out of prison for fraud.

/code is law, not your keys not your crypto, etc


Maybe there's trading bots that automatically trade all coins?

Otherwise someone was very stupid.

Though, noone mentions how much money was involved. Is this perhaps because Shrkeli didn't actually really earn anything? Maybe he lost money, if he initially had to create value himself?
 
2022-08-14 7:36:32 PM  

PA Lurker: At its height, the "Inu" was worth a little less than $0.000015.  So, while he certainly continues to be a scammer dbag, he has fallen far from his "raise the price of life-saving drugs by a few thousand percent" peak.


At that value the total value of the coins would be worth 15 Mill. USD, and he controlled 90% of them.

But, obviously the value drops as he sells them, so his take would more likely be the minimum value.
 
2022-08-14 8:00:42 PM  
Who would buy this shiat in the first place?
 
2022-08-14 11:47:20 PM  
Fark user imageView Full Size
 
2022-08-15 3:58:01 AM  

Ketchuponsteak: Maybe there's trading bots that automatically trade all coins?

Otherwise someone was very stupid.


Why are you avoiding the obvious answer? the hacker's wallet was funded by Martin himself, a convicted fraudster. The most likely explanation is: he is the hacker. He probably also "hacked" his social media as an alibi.

Ketchuponsteak: Though, noone mentions how much money was involved. Is this perhaps because Shrkeli didn't actually really earn anything? Maybe he lost money, if he initially had to create value himself?


The "hacker" sold off 160 billion tokens worth at least a couple of million dollars.
What he did is a variation of a 'rug pull'. A common scam in the crypto-sphere. This is the most reasonable explanation.
 
2022-08-15 4:01:06 AM  
I don't even know anymore. If you can't trust Martin Shkreli, who can you trust?
 
2022-08-15 9:27:06 AM  

TappingTheVein: Ketchuponsteak: Maybe there's trading bots that automatically trade all coins?

Otherwise someone was very stupid.

Why are you avoiding the obvious answer? the hacker's wallet was funded by Martin himself, a convicted fraudster. The most likely explanation is: he is the hacker. He probably also "hacked" his social media as an alibi.

Ketchuponsteak: Though, noone mentions how much money was involved. Is this perhaps because Shrkeli didn't actually really earn anything? Maybe he lost money, if he initially had to create value himself?

The "hacker" sold off 160 billion tokens worth at least a couple of million dollars.
What he did is a variation of a 'rug pull'. A common scam in the crypto-sphere. This is the most reasonable explanation.


I didn't talk about his claim of a hacker. Of course it was him.

I answered the question as to why anyone was stupid enough to purchase his coin, and my guess was that some automatic trading bots trade coins as they become available.

For him to have done the rug pull, he relied on someone purchasing it as well. Bots? Or are there trading platforms that allows people to trade between currencies without a buyer being present? The latter wouldn't surprise me, given how a lot of those websites compete on being the most attractive, and lose money as a result.
 
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