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Another bizarre crypto scam
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Here we go again
Dear Reader,
Scammers always seem to find a sucker somehow.
Take the curious case of John DeSalvo.
The former corrections officer orchestrated a crypto scam for the ages.
Targeting the very people he worked with every day…
Police officers and first responders.
According to the SEC (which charged him with various crimes)...
DeSalvo took more than $600k from his investors.
By selling a token he called Blazar.
The "pitch" fooled people into believing this coin would…
"Replace traditional state pension systems."
Offering police, firefighters, and paramedics outsized gains.
What he allegedly did was take the money and pull a pump and dump on PancakeSwap.
DeSalvo went so far as to tell investors:
"Blazar Token is the first token or coin that is able to be purchased through payroll deduction every week. It will be taken out of one's weekly earnings pretax similar to payment into a pension, 401k, IRA, or any other retirement savings plans."
Except it isn't.
The token does exist, but apparently DeSalvo's intent was to defraud his investors while enriching himself.
Hey… there's nothing wrong with getting rich in crypto.