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♪ ♪
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MARIANA: I've done
stories about scammers before.
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ANCHOR: Tax related scams.
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00:00:07,676 --> 00:00:09,219
REPORTER: Warning the
public about a new scam.
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MARIANA: Phone scammers.
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Binary options scammers.
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Romance scammers.
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Credit card scammers.
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Identity theft scammers.
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WOMAN: It's a scam.
MAN: It's a scam.
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MARIANA: But I've never
met anyone like these guys.
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They're all 20-somethings.
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And they all live like kings.
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♪ Just hurry in the water ♪
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♪ There's a price to pay ♪
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MARIANA: Mansions. Parties.
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Insane cars.
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Jewelry.
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Ak-47s that look like jewelry.
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It's a lifestyle that's made
possible by their mastery of
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cryptocurrency scam called...
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REPORTER: The rug pull scam.
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ANCHOR: The rug pull.
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MARIANA: The rug pull.
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If you haven't heard of
it, consider yourself lucky,
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because victims lost nearly
$3 billion in 2021 alone.
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This is a journey.
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To the dark side.
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Of the crypto craze.
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(cheering)
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MARIANA: Okay.
Let's do this.
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DIRECTOR: Okay.
You ready?
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MARIANA: Um-hmm.
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Before I started reporting
on crypto currency,
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I think I just thought
that it was something that
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everybody else was making money
on, but I was too lazy to get
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into it because I knew
very little about it.
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MAN: Crypto currency.
MAN: Crypto.
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WOMAN: Crypto.
MAN: Crypto.
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MAN: Crypto is a way of people
taking control of their money.
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MAN: It's a safe and easy
way to get into crypto.
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DAVID: And I'm never wrong
about this stuff. Never.
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DAMON: Fortune
favors the brave.
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MARIANA: Whenever there's
something out there that it
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seems like you can make so
much money fast, there is a
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lot of people out there that
are just willing to exploit
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those dreams or those hopes.
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XAVIER: Like, where do
I start with crypto?
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Crypto.
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MARIANA: Actually, let's
start from the beginning.
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So it started, so it
started with one person.
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One day I got a
message on Instagram
from a fan of the show.
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Who was such a fan, he lived in
LA, so I actually met this guy.
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And he showed up with a cheese
board that he had made himself
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that said "Trafficked
with Mariana Van Zeller"
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and he gives me the cheeseboard
and then he says, "Hey."
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XAVIER: Hey.
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MARIANA: "Hey, what do you
know about crypto scams?"
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XAVIER: What do you
know about crypto scams?
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MARIANA: Crypto scams. One of
which is called the "rug pull."
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XAVIER: Remember what I
told you about crypto?
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Crypto, crypto.
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Currencies, coins,
tokens, centralized financing,
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decentralized financing.
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But once you go defi,
it's the Wild West.
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MARIANA: You do realize
that half of the things you're
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saying I don't
understand right?
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Uh, um.
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MAN: Shall I say
what crypto is?
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MAN 2: It's a very...
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MAN 3: Um...
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MAN 2: A ver, a really.
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MAN 4: Uh...
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MAN: It's so hard, 'cause it's
not like a two sentence thing.
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It's like a two hour thing.
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XAVIER: I don't even
know where to start.
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I mean.
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MAN 2: And it's, uh, ah (bleep).
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HOST: Now, if you don't know
what crypto currencies are,
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we're not
entirely sure, either.
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It's okay.
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Experts say they are a digital
currency that's exchanged
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online, that's not
tied to a government.
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ANCHOR: Bitcoin is probably
the most common crypto
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currency on the market, but
there are many out there.
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MARIANA: So you have very little
money in an actual bank account?
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XAVIER: Yeah.
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MARIANA: All of
it is in crypto?
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XAVIER: Exactly.
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And I'm sure I'm
not the only one.
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MARIANA: When was the first
time you realized you'd been
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a victim of a scam?
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XAVIER: I think I've been in
maybe seven or eight rug pulls.
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MARIANA: That many?
XAVIER: Yes.
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The first time it was
just a $500 investment.
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Then the next
one, almost $10,000.
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MARIANA: And then what
happened to the bit?
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Just, you lost it?
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XAVIER: You just move on.
There's nothing you can do.
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Decentralized financing.
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So, there's no rules,
nothing applies.
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MARIANA: Right. Okay, so the
first time you lost $500.
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XAVIER: Right.
MARIANA: And it was a rug pull?
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XAVIER: Yes. Let me explain
how this rug pull works
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in the form of a margarita.
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MARIANA: Great,
love margaritas.
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XAVIER: When we launch the
token, the scam token,
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you have this amount of
your actual token.
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MARIANA: Okay.
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So before scammers start to
promote this new offering,
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they've already bought
a big chunk of it at
a very low price.
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XAVIER: As people are buying
in and it goes up and up and up,
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there's no stopping, just
keeps going up the charts.
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MARIANA: So that's the
money I'm putting in.
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XAVIER: Exactly. Exactly.
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MARIANA: Filling
up the coffers.
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XAVIER: Now you have
more investors coming in.
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More shillers
pushing the product.
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Nonstop, Twitter.
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Telegram, pushing it, getting
paid to promote a certain token.
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So your average newbie investor
sees that and is thinking,
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"Oh, I better get into it
right now, it looks great."
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Going, and going, and
going, people are buying in.
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MAN: Buy, buy, buy.
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XAVIER: Going, and going, and
going, thousands of people.
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MAN: Going and going.
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MARIANA: They're all
getting super excited.
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XAVIER: Correct.
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Next thing you know?
The scammer walks out.
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MARIANA: He walks out?
XAVIER: Yes.
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MARIANA: With all the money?
XAVIER: Exactly.
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MARIANA: That's right.
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Just when the excitement
around the token reaches a
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fever pitch, the scammer pulls
the rug, selling all of his
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holdings and sending
the price crashing.
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And that's a rug pull?
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XAVIER: That's a rug pull.
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It's amazing to me that so
many people can do this.
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MARIANA: Uh-hmm.
XAVIER: And get away with it.
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MARIANA: Uh-hmm.
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00:05:05,306 --> 00:05:06,432
XAVIER: Personally, I know
some people that have lost
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their life savings.
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MARIANA: Who are the scammers?
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Who are these people that are
making millions of dollars.
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XAVIER: Anybody.
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MARIANA: From other people.
XAVIER: Anybody.
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MARIANA: I can't quite believe
that these scams are as big
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and as common as
Xavier is telling me.
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XAVIER: Scams
everywhere, crypto?
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Scams everywhere.
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MARIANA: But it doesn't take
much research to see that
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he's absolutely right.
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ANCHOR: The FBI is warning
about an increase in
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crypto currency scams.
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ANCHOR: The rug pull
scam accounted for 37%
of the illicit revenue.
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REPORTER: A Denver man thought
he'd be able to retire early,
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after investing more
than $1 million.
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ANCHOR: $1.6 million in total.
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MAN: They disappeared
with about $3 million.
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NEWS GUEST: I mean, the bad
guys all want crypto currency
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because it's not traceable.
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MARIANA: It seems like once
people are burnt, they either
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quietly drop out
of crypto entirely.
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REPORTER: It's not backed by
any banks, so consumers have
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no protections and no way
of getting their money back.
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MARIANA: Or, they pin their
hopes on making it back on the
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next hyped up token.
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NEWS GUEST: It's
really exciting.
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Maybe there are
celebrities involved.
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So you want to get in early.
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MAN: I missed out on Google,
I missed out on Apple, so I
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didn't wanna miss out on this.
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MAN: Oh, it went to zero.
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You've seen it live.
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A (bleep) rug pull, baby.
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MARIANA: If I'm looking into
scammers, what do you suggest?
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XAVIER: Conventions.
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The conventions.
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MARIANA: The
crypto conventions?
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00:06:19,005 --> 00:06:20,548
XAVIER: Oh, correct.
MARIANA: Uh-hmm.
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00:06:20,548 --> 00:06:22,383
XAVIER: Miami, Dubai, you're
bound to meet somebody that's
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00:06:22,383 --> 00:06:23,885
trying to show off.
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MARIANA: When's
the next convention?
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XAVIER: Dubai.
MARIANA: Dubai?
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XAVIER: Yes, next week.
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MARIANA: Really?
Next week already?
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XAVIER: Yes.
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00:06:31,225 --> 00:06:33,186
MARIANA: And you think for sure
there's gonna be scammers there?
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XAVIER: If you ask
the right questions,
you'll find somebody.
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MARIANA: Uh-hmm.
XAVIER: You'll find somebody.
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This is the Wild West,
decentralized financing
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is the Wild West.
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♪ ♪
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♪ Yeah ♪
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00:07:08,346 --> 00:07:11,057
♪ Put your hands up
if you in the building ♪
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00:07:11,057 --> 00:07:14,060
♪ Put your hands up
high to the ceiling ♪
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00:07:14,060 --> 00:07:16,521
MARIANA: Much like Dubai
itself, crypto currency
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00:07:16,521 --> 00:07:20,024
seemingly came out of nowhere
creating obscene towers of
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00:07:20,024 --> 00:07:23,152
wealth, a lot of
it built on sand.
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00:07:23,152 --> 00:07:25,279
♪ Party all day
I'mma get right ♪
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MARIANA: The good, the bad,
and the ugly of crypto come
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00:07:28,491 --> 00:07:30,243
to these conferences.
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00:07:30,243 --> 00:07:33,329
Everyone is vying for attention
for their latest token.
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00:07:33,746 --> 00:07:35,915
MAN: Crypto education...
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00:07:36,624 --> 00:07:38,793
MARIANA: This is the first
time that I've showed up
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00:07:38,793 --> 00:07:40,753
somewhere without a lead.
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00:07:40,753 --> 00:07:43,965
GIRL: With my heart
glasses, our hearts.
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00:07:43,965 --> 00:07:47,135
MARIANA: And without
knowing what a scammer
might even look like.
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00:07:50,138 --> 00:07:53,057
So my plan is to get the word
out that I'm looking for them
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00:07:53,057 --> 00:07:56,394
and hope that our cameras
will pique their interest.
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♪ Let's go ♪
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00:08:00,898 --> 00:08:04,152
MARIANA: Hi, why are you
dressed in a space suit?
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00:08:04,152 --> 00:08:06,487
MAN: Crypto doesn't have
any more "sky is the limits"
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00:08:06,487 --> 00:08:09,240
mentality, so it's
going to the moon.
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00:08:09,240 --> 00:08:10,533
♪ Get it ♪
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00:08:10,533 --> 00:08:12,452
♪ Out of nowhere
they start modeling ♪
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00:08:12,452 --> 00:08:15,413
MARIANA: Are you guys
in the crypto business?
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00:08:15,413 --> 00:08:16,497
MEN: Yes.
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00:08:16,497 --> 00:08:17,790
MARIANA: What do you do?
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00:08:19,667 --> 00:08:20,668
MARIANA: You invest in crypto?
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00:08:20,668 --> 00:08:22,295
MAN: Yeah.
MAN: Yeah.
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00:08:22,295 --> 00:08:23,796
MARIANA: So does your
company have a token
or how, what do you do?
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00:08:23,796 --> 00:08:26,382
MAN: No, my company is all
about fashion, crypto fashion.
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00:08:26,382 --> 00:08:28,509
CLIFF: Right now crypto's
not accepted for payment
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00:08:28,509 --> 00:08:31,053
everywhere, as that adopts
more, you're gonna see a whole
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00:08:31,053 --> 00:08:34,056
flood of more people come in
and these scammers are gonna
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00:08:34,056 --> 00:08:35,933
be sitting out there waiting.
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00:08:35,933 --> 00:08:38,186
MARIANA: There is a lot of
scamming in crypto, too.
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00:08:38,186 --> 00:08:39,562
Is that something
that worries you?
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00:08:39,562 --> 00:08:40,438
MAN: Yeah, but that's
where you got to do your own
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00:08:40,438 --> 00:08:41,898
research kind of thing.
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00:08:41,898 --> 00:08:43,733
People don't like to read,
people don't like to search,
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00:08:43,733 --> 00:08:45,693
they follow influencers.
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00:08:45,693 --> 00:08:47,653
MARIANA: I'm assuming there
are scammers in here too, right?
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00:08:47,653 --> 00:08:50,323
CLIFF: I would
absolutely bet that, yes.
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00:08:51,741 --> 00:08:53,326
MARIANA: Do you know
anyone who's doing rug pulls?
237
00:08:53,326 --> 00:08:54,535
Any scammers?
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00:08:54,535 --> 00:08:58,206
(laughing)
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00:08:58,664 --> 00:09:00,750
Good luck.
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00:09:04,087 --> 00:09:07,840
I leave the conference
with nothing to show for it.
241
00:09:17,183 --> 00:09:23,981
♪ ♪
242
00:09:24,440 --> 00:09:27,276
(phone ringing)
243
00:09:27,276 --> 00:09:29,195
But later, my luck changes.
244
00:09:29,195 --> 00:09:32,156
Hey, can you hear me?
245
00:09:32,156 --> 00:09:33,533
MAN (over phone): Yes.
246
00:09:33,533 --> 00:09:34,951
MARIANA: When I finally hear
from an elusive source
247
00:09:34,951 --> 00:09:36,619
I've been waiting on.
248
00:09:36,619 --> 00:09:38,788
Is there any way I can get his
phone number and meet him and
249
00:09:38,788 --> 00:09:41,249
talk to him directly?
250
00:09:41,249 --> 00:09:44,043
He confirms that there is a
notorious scam crew in town,
251
00:09:44,043 --> 00:09:48,381
headed up by someone he insists
on referring to as "Mr. X."
252
00:09:48,381 --> 00:09:50,508
Okay, but he's
definitely in Dubai right?
253
00:09:50,508 --> 00:09:52,927
It's rare for them to be in
the same place at the same
254
00:09:52,927 --> 00:09:55,721
time, so I can't
miss meeting them.
255
00:09:55,721 --> 00:09:58,432
Okay. Any idea on
where he's staying?
256
00:09:58,432 --> 00:10:00,726
I mean if we have an address,
if you're willing to share
257
00:10:00,726 --> 00:10:03,062
that address with me?
258
00:10:03,062 --> 00:10:04,438
Awesome, okay.
259
00:10:04,438 --> 00:10:05,690
Thank you.
260
00:10:05,690 --> 00:10:07,650
Talk to you in a bit, bye-bye.
261
00:10:21,706 --> 00:10:23,374
Hello?
262
00:10:24,208 --> 00:10:25,793
MARIANA: Mr. X?
263
00:10:28,045 --> 00:10:30,047
MARIANA: Hi, Mariana
here, how are you doing?
264
00:10:32,341 --> 00:10:35,344
MARIANA: I am so happy we can
finally talk to you directly.
265
00:10:37,305 --> 00:10:38,848
MARIANA: Yes, ma'am. Okay.
266
00:10:38,848 --> 00:10:40,683
So we're on our way, I think
we should be there in the next
267
00:10:40,683 --> 00:10:42,351
15, 20 minutes.
268
00:10:44,145 --> 00:10:45,646
MARIANA: Great, okay.
I'll see you soon.
269
00:10:48,274 --> 00:10:50,776
MARIANA: So, apparently
he's staying in this big villa
270
00:10:50,776 --> 00:10:53,154
right on the water, sort of,
one of the most expensive
271
00:10:53,154 --> 00:10:57,241
areas in Dubai and, uh, heard
that he's driving around in
272
00:10:57,241 --> 00:11:01,746
all sorts of luxury cars
and I guess we're gonna see.
273
00:11:10,880 --> 00:11:12,006
Okay.
274
00:11:12,006 --> 00:11:14,884
This is it guys,
this is the house.
275
00:11:15,843 --> 00:11:17,720
We have a G, Mercedes G Wagon
276
00:11:17,720 --> 00:11:20,097
and a Rolls Royce
parked out front.
277
00:11:28,356 --> 00:11:34,570
♪ ♪
278
00:11:42,578 --> 00:11:48,334
♪ ♪
279
00:11:48,960 --> 00:11:51,504
MARIANA: So we came all the
way to Dubai, we got here and
280
00:11:51,504 --> 00:11:54,590
we started a
hunt for a scammer.
281
00:11:56,342 --> 00:11:59,387
We went to parties, we went
to this crypto conference,
282
00:11:59,387 --> 00:12:01,722
telling everybody that I was
looking for a scammer
283
00:12:01,722 --> 00:12:05,017
which isn't the best
way to go about this,
284
00:12:06,644 --> 00:12:09,772
but eventually we got a call.
285
00:12:09,772 --> 00:12:12,775
The scammer, he's here right now
and he's willing to talk to us.
286
00:12:16,737 --> 00:12:19,991
The scammers are fairly
paranoid about us identifying
287
00:12:19,991 --> 00:12:22,535
where they're staying,
so it's cameras down
288
00:12:22,535 --> 00:12:24,996
until we're inside.
289
00:12:30,918 --> 00:12:35,006
♪ ♪
290
00:12:35,006 --> 00:12:37,049
(mumbling)
291
00:12:37,049 --> 00:12:38,217
MR. X: (bleep).
292
00:12:38,217 --> 00:12:40,219
You're not from here, bro.
293
00:12:44,265 --> 00:12:46,559
MARIANA: How many rug
pulls have you done?
294
00:12:48,686 --> 00:12:50,604
MARIANA: But more than 10?
295
00:12:51,814 --> 00:12:53,065
MARIANA: More than 100?
296
00:12:54,066 --> 00:12:56,235
MARIANA: No. Have you been
a victim of a rug pull?
297
00:13:02,950 --> 00:13:04,702
MARIANA: Oh, is that
one of the reasons you
got interested in it?
298
00:13:07,288 --> 00:13:09,582
MARIANA: Do you know a lot
of other people rug pulling?
299
00:13:16,213 --> 00:13:17,882
MARIANA: So, setting the
stage, where are we and
300
00:13:17,882 --> 00:13:19,091
why are you guys here?
301
00:13:25,806 --> 00:13:27,725
MARIANA: So you come here
and they're going to tell you
302
00:13:27,725 --> 00:13:30,227
everything at these conferences
about what they're doing,
303
00:13:30,227 --> 00:13:33,439
in terms of security, and you
can always be a step ahead?
304
00:13:34,982 --> 00:13:36,859
MARIANA: You wanna be
called Mr. X, right?
305
00:13:41,072 --> 00:13:42,698
MARIANA: What is
it that you do?
306
00:13:47,453 --> 00:13:48,913
MARIANA: And you're the boss?
307
00:13:51,457 --> 00:13:52,875
MARIANA: All right. Can you tell
me what each of you guys do?
308
00:13:58,130 --> 00:13:59,131
MARIANA: You're sort
of the PR side of it?
309
00:14:05,429 --> 00:14:06,430
MARIANA: Is it easy?
310
00:14:08,390 --> 00:14:09,934
MARIANA: And what
about you, what do you do?
311
00:14:24,323 --> 00:14:27,076
MARIANA: What's the most
amount of money you've ever
made on a rug pull?
312
00:14:35,417 --> 00:14:36,001
MARIANA: How much?
313
00:14:37,253 --> 00:14:37,962
MARIANA: Six zero?
314
00:14:39,463 --> 00:14:40,714
MARIANA: $60 million?
315
00:14:42,758 --> 00:14:44,802
MARIANA: You know I've
interviewed many, many, many,
316
00:14:44,802 --> 00:14:48,347
many people that work in black
markets, but I've never heard
317
00:14:48,347 --> 00:14:53,102
of anyone making this amount
of money with one operation.
318
00:14:56,856 --> 00:15:02,778
MARIANA: So you guys, you
guys are in your 20s, right?
319
00:15:02,778 --> 00:15:04,280
MARIANA: So then what
do you do with the cash?
320
00:15:04,280 --> 00:15:06,115
I mean, if you're having, if
you have millions of dollars
321
00:15:06,115 --> 00:15:07,867
in cash how do you,
what do you do with it?
322
00:15:18,669 --> 00:15:20,671
MARIANA: How much does
that chain cost do you think?
The one you have.
323
00:15:22,882 --> 00:15:24,341
MARIANA: 75,000.
324
00:15:24,341 --> 00:15:26,552
And on a regular basis how
much money worth of jewelry
325
00:15:26,552 --> 00:15:27,887
do you carry on you?
326
00:15:27,887 --> 00:15:29,763
P: Um...
327
00:15:31,765 --> 00:15:32,600
MARIANA: $250,000?
328
00:15:38,564 --> 00:15:41,609
♪ ♪
329
00:15:43,068 --> 00:15:45,821
MARIANA: I'm along for the
ride with them today, to see
330
00:15:45,821 --> 00:15:49,700
where those millions end up
once the rug has been pulled.
331
00:15:49,700 --> 00:15:51,702
This car alone cost,
like, half a million dollars?
332
00:15:53,162 --> 00:15:55,164
MARIANA: How much do you think
these houses are worth here?
333
00:16:01,295 --> 00:16:02,338
MARIANA: And you
guys have six?
334
00:16:03,380 --> 00:16:05,674
MARIANA: They tell us they've
rented six different villas,
335
00:16:05,674 --> 00:16:10,346
on Palm Jumeirah, a
luxury development built
on man-made islands.
336
00:16:10,638 --> 00:16:11,805
All of these are on
the water then right?
337
00:16:13,515 --> 00:16:15,226
MARIANA: How many people
did you guys travel with?
338
00:16:17,937 --> 00:16:19,355
MARIANA: Is this your
first time in Dubai?
339
00:16:25,027 --> 00:16:26,737
MARIANA: And by
utility you mean cash?
340
00:16:33,535 --> 00:16:35,120
MARIANA: Oh, so the people
that you know are in
341
00:16:35,120 --> 00:16:36,622
high places here,
so they're not.
342
00:16:38,540 --> 00:16:39,291
MARIANA: Get away with a lot?
343
00:16:47,508 --> 00:16:53,847
♪ ♪
344
00:17:10,698 --> 00:17:12,992
♪ Gonna take myself
out on a date ♪
345
00:17:12,992 --> 00:17:15,119
♪ Limousine of
diamonds on the plate ♪
346
00:17:20,624 --> 00:17:21,917
♪ 'Cause you had ♪
347
00:17:21,917 --> 00:17:23,127
MARIANA: Woo-hoo.
348
00:17:23,127 --> 00:17:24,420
♪ Don't need no
damn sugar daddy ♪
349
00:17:28,549 --> 00:17:30,551
MARIANA: Do your friends
and family know you're
in this business?
350
00:17:31,593 --> 00:17:33,554
MARIANA: They know
that you're doing.
351
00:17:33,554 --> 00:17:34,430
MARIANA: That you're stealing?
352
00:17:38,100 --> 00:17:39,476
MR. X: How do you, how do you...
353
00:17:39,476 --> 00:17:40,728
MARIANA: I mean, all these
people are buying tokens
354
00:17:40,728 --> 00:17:41,520
thinking it's
something and it's not right?
355
00:17:42,605 --> 00:17:45,691
MARIANA: So, you're selling
them something that's
actually not real.
356
00:17:49,611 --> 00:17:50,446
MARIANA: Yeah, but it's worth
nothing. That's the point.
357
00:17:55,743 --> 00:17:57,202
MARIANA: But the people that are
investing and buying the tokens
358
00:17:58,704 --> 00:17:59,621
MARIANA: Don't know that
their money is going to
disappear right?
359
00:17:59,621 --> 00:18:00,122
They're going to lose money.
360
00:18:07,963 --> 00:18:10,424
MARIANA: So, but if it is
not illegal, why are you guys
361
00:18:10,424 --> 00:18:12,760
wearing masks, why not
just be openly doing it?
362
00:18:27,316 --> 00:18:28,400
MARIANA: Right, it would.
363
00:18:29,276 --> 00:18:30,402
MARIANA: Basically put a
stop to your lifestyle.
364
00:18:40,663 --> 00:18:42,247
MARIANA: Do you ever feel
bad about the people that are
365
00:18:42,247 --> 00:18:43,707
losing all this money?
366
00:18:43,707 --> 00:18:45,793
You know we hear stories about
people who've invested,
367
00:18:45,793 --> 00:18:48,504
you know, all their retirement,
or sold their dream house or
368
00:18:48,504 --> 00:18:50,673
whatever, how do
you feel about that?
369
00:18:52,758 --> 00:18:53,467
MARIANA: You don't care?
370
00:19:06,438 --> 00:19:08,399
MARIANA: It's pretty chilling
how quickly these guys can
371
00:19:08,399 --> 00:19:12,027
flip between being almost
likable and almost completely
372
00:19:12,027 --> 00:19:13,487
void of empathy.
373
00:19:19,743 --> 00:19:21,203
MARIANA: We heard that
there was somebody who killed
374
00:19:21,203 --> 00:19:22,955
themselves after a rug pull,
after being a victim of a
375
00:19:22,955 --> 00:19:24,456
rug pull, have you
guys heard of that?
376
00:19:29,962 --> 00:19:31,463
MARIANA: But, I think there's
a certain, it's also because
377
00:19:31,463 --> 00:19:33,424
you never meet
your victims, right?
378
00:19:33,424 --> 00:19:35,801
I think that if you were to
sit down in front of somebody
379
00:19:35,801 --> 00:19:38,721
who's lost a lot of money and
is crying in front of you, and
380
00:19:38,721 --> 00:19:40,889
is telling you that they can't
send their kid to college,
or whatever it is.
381
00:19:56,113 --> 00:19:58,365
MARIANA: They can couch
it however they want, but
382
00:19:58,365 --> 00:20:00,951
essentially, they're scamming
people out of their hard
383
00:20:00,951 --> 00:20:06,165
earned money and they have
absolutely no qualms about it.
384
00:20:06,874 --> 00:20:09,626
♪ Baby, I'mma get you to stay ♪
385
00:20:12,379 --> 00:20:14,882
MARIANA: I'm treading a fine
line between challenging them
386
00:20:14,882 --> 00:20:17,759
and maintaining
access to this world.
387
00:20:17,759 --> 00:20:20,554
It feels like they trust me
now, but I still need the
388
00:20:20,554 --> 00:20:23,765
invite to the main event.
389
00:20:24,767 --> 00:20:27,936
This is really beautiful though,
this is really beautiful.
390
00:20:29,521 --> 00:20:33,942
MARIANA: So, when you
do your next operation,
could we be with you?
391
00:20:37,905 --> 00:20:40,449
MARIANA: Did you ever
think you'd be living
a life like this?
392
00:20:43,619 --> 00:20:46,205
MARIANA: What is it that you
most like about this life?
393
00:20:47,456 --> 00:20:48,916
MARIANA: You can do whatever?
394
00:20:50,209 --> 00:20:52,252
MARIANA: And you don't
think this is going to end?
395
00:21:02,721 --> 00:21:06,016
ROBERT: A couple of years ago
I had cancer and it kind of
396
00:21:06,016 --> 00:21:07,935
slowed me down a little bit,
and so I spent more time with
397
00:21:07,935 --> 00:21:09,561
investments, and
things of that nature.
398
00:21:09,561 --> 00:21:11,355
And my son came
over and he said,
399
00:21:11,355 --> 00:21:12,731
"Hey dad, have you
looked at crypto?"
400
00:21:12,731 --> 00:21:15,275
And I said, "Crypto?
You mean that Bitcoin stuff?"
401
00:21:15,275 --> 00:21:16,777
ANCHOR: Cryptocurrencies.
ANCHOR: Cryptocurrencies.
402
00:21:16,777 --> 00:21:17,945
ANCHOR: Cryptocurrencies.
403
00:21:17,945 --> 00:21:19,238
NEWS GUEST: This is
pretty confusing stuff.
404
00:21:19,238 --> 00:21:20,697
REPORTER: So no
Bitcoin investments for you?
405
00:21:20,697 --> 00:21:22,282
LL COOL J: I don't know
nothing about that stuff.
406
00:21:22,282 --> 00:21:23,492
ROBERT: So I
started looking, right?
407
00:21:23,492 --> 00:21:26,703
And so I got on the
SHIB and did very well,
408
00:21:26,703 --> 00:21:28,121
and then you're ruined, right?
409
00:21:28,121 --> 00:21:29,456
You're kind of wrecked.
410
00:21:29,456 --> 00:21:31,166
'Cause I went from
saying things, like,
411
00:21:31,166 --> 00:21:34,837
"Hey, I made $29 today
trading blue chip stocks."
412
00:21:34,837 --> 00:21:38,048
And it went to, "Hey, I made
$6,000 today with crypto."
413
00:21:38,465 --> 00:21:40,634
And I thought, even then, man,
this could be dangerous for
414
00:21:40,634 --> 00:21:43,303
people because of
that FOMO, that lure.
415
00:21:43,303 --> 00:21:44,555
You know?
416
00:21:44,555 --> 00:21:46,098
HOST: Everyone's
trying to get in this game.
417
00:21:46,098 --> 00:21:49,518
REPORTER: Investing in crypto
currency is the buzz right now.
418
00:21:50,185 --> 00:21:52,145
ROBERT: The day
started normally.
419
00:21:52,145 --> 00:21:54,064
It was a launch day.
420
00:21:54,064 --> 00:21:56,316
Altex was the name of the
token and I had been involved
421
00:21:56,316 --> 00:21:58,068
with this project.
422
00:21:58,068 --> 00:21:59,736
It had been
delayed a couple times.
423
00:21:59,736 --> 00:22:01,196
The devs were young.
424
00:22:01,196 --> 00:22:02,698
Not fully doxxed.
425
00:22:02,698 --> 00:22:05,367
I knew who they were and about
where they live, but they
426
00:22:05,367 --> 00:22:08,912
still kept their last names
kind of, you know, secretive.
427
00:22:09,663 --> 00:22:12,165
MARIANA: Despite the risk,
Robert pressed his luck
428
00:22:12,165 --> 00:22:13,959
investing thousands in
429
00:22:13,959 --> 00:22:16,837
what he thought
was a promising new token.
430
00:22:17,963 --> 00:22:20,340
ROBERT: At launch, the devs
sold their entire bag, which
431
00:22:20,340 --> 00:22:22,801
looked like this
huge rug pull.
432
00:22:22,801 --> 00:22:27,014
And that left all of the
investors, including myself,
433
00:22:27,014 --> 00:22:29,600
you know, holding the bag.
434
00:22:30,475 --> 00:22:34,062
When all the smoke
cleared, I had $86 left.
435
00:22:36,481 --> 00:22:38,483
I just, I was
wrecked, wrecked.
436
00:22:38,483 --> 00:22:39,735
It's hard to describe.
437
00:22:39,735 --> 00:22:42,362
Emotionally, it's devastating.
438
00:22:42,613 --> 00:22:45,657
Knowing how that felt
and that others were
going through that,
439
00:22:45,657 --> 00:22:47,951
that's the point that I decided
that something had to be done.
440
00:22:47,951 --> 00:22:49,411
Something had to be done.
441
00:22:49,411 --> 00:22:51,330
And it was gonna
start with me.
442
00:22:54,875 --> 00:22:59,087
♪ ♪
443
00:23:04,718 --> 00:23:06,386
ROBERT: These are just new
tokens that have launched.
444
00:23:06,386 --> 00:23:08,639
MARIANA: Just when?
Oh, just today?
445
00:23:08,639 --> 00:23:10,265
ROBERT: Just, well, it shows
today, over here at the last.
446
00:23:10,265 --> 00:23:11,725
MARIANA: Just today, yeah.
ROBERT: Yeah.
447
00:23:11,725 --> 00:23:13,644
Here's a good indication
that this is probably a scam.
448
00:23:13,644 --> 00:23:15,312
You see 3% down
in the last hour?
449
00:23:15,312 --> 00:23:16,521
MARIANA: Yeah.
450
00:23:16,521 --> 00:23:17,898
ROBERT: But 85% in
the last 24 hours.
451
00:23:17,898 --> 00:23:19,524
MARIANA: Which means
that they're dumping?
452
00:23:19,524 --> 00:23:20,984
ROBERT: Something's going on.
453
00:23:20,984 --> 00:23:22,694
MARIANA: But then you see
these actually, you know,
454
00:23:22,694 --> 00:23:25,280
up by 6%, up by 16%.
455
00:23:25,280 --> 00:23:28,200
ROBERT: But that's what
they do, they hope that,
just like you just did,
456
00:23:28,200 --> 00:23:30,035
you say, "Hey, some of
these are up really big."
457
00:23:30,035 --> 00:23:32,204
They hope that you'll
see that and go buy it.
458
00:23:32,204 --> 00:23:36,541
MARIANA: Robert Browning is a
scam victim turned vigilante.
459
00:23:36,959 --> 00:23:39,544
After being taken in a by a
rug pull, he now spends his
460
00:23:39,544 --> 00:23:42,756
time hunting down
and exposing scammers.
461
00:23:43,298 --> 00:23:44,299
So explain what this is.
462
00:23:44,299 --> 00:23:45,384
What are these AM?
463
00:23:45,384 --> 00:23:46,426
ROBERT: This is an AMA.
464
00:23:46,426 --> 00:23:48,303
Now, AMA means
"Ask Me Anything."
465
00:23:48,303 --> 00:23:50,931
MARIANA: And these guys use
these AMA platforms, what for?
466
00:23:50,931 --> 00:23:52,224
ROBERT: To bump their token.
467
00:23:52,224 --> 00:23:53,558
MARIANA: To sell it?
468
00:23:53,558 --> 00:23:55,477
ROBERT: All the hype, all the
garbage. All the..
469
00:23:55,477 --> 00:23:57,020
CREATOR: We're here, we're
here in chat, if people have
470
00:23:57,020 --> 00:23:58,522
any questions or anything.
471
00:23:58,522 --> 00:24:00,107
MARIANA: And so you go into
these chat rooms, into these
472
00:24:00,107 --> 00:24:01,566
AMAs, what for?
473
00:24:01,566 --> 00:24:03,860
ROBERT: Because
they're very suspicious.
474
00:24:03,860 --> 00:24:05,404
MARIANA: Yeah. Why do you
think they're suspicious?
475
00:24:05,404 --> 00:24:08,031
ROBERT: Because Carl sent me
a copy of a wallet that was
476
00:24:08,031 --> 00:24:09,533
involved in a scam.
477
00:24:09,533 --> 00:24:11,159
MARIANA: One of your guys?
ROBERT: Yeah.
478
00:24:11,159 --> 00:24:12,869
And it holds this token.
479
00:24:12,869 --> 00:24:14,246
MARIANA: So they've been
involved in another scam?
480
00:24:14,246 --> 00:24:16,331
ROBERT: Somebody has been
a bad actor on the team.
481
00:24:16,331 --> 00:24:18,834
MARIANA: When he finds a
suspicious token launch,
482
00:24:18,834 --> 00:24:22,421
he questions the developers in
public forums in front of
483
00:24:22,421 --> 00:24:26,216
possible
investors and victims.
484
00:24:26,591 --> 00:24:27,801
ROBERT: Hey, what's up guys?
485
00:24:27,801 --> 00:24:29,094
CREATOR (over phone):
What's up, man?
486
00:24:29,094 --> 00:24:30,679
ROBERT: Ah, nothing, man.
487
00:24:30,679 --> 00:24:32,139
Just checking it out.
488
00:24:32,139 --> 00:24:33,140
CREATOR (over phone): You're
just new to the group?
489
00:24:33,140 --> 00:24:34,558
ROBERT: Yeah,
yeah, yeah, yeah.
490
00:24:34,558 --> 00:24:36,768
Are y'all, is this, I
mean, am I reading this right?
491
00:24:36,768 --> 00:24:39,813
I mean, visually, right, it
looks an awful lot like aNrug.
492
00:24:39,813 --> 00:24:40,856
You know?
493
00:24:40,856 --> 00:24:42,816
I mean, you can see that.
494
00:24:42,816 --> 00:24:45,569
I mean, the way, you know,
the chart crashing out
and then the liquidity.
495
00:24:45,569 --> 00:24:47,320
CREATOR (over phone): You know,
that's not nice to say, because
496
00:24:47,320 --> 00:24:49,031
everything is in
the pinned messages.
497
00:24:49,031 --> 00:24:51,700
Anyone who does, they can
just read the pinned messages.
498
00:24:51,700 --> 00:24:52,701
ROBERT: Listen, I'm not.
499
00:24:52,701 --> 00:24:54,035
I'm just saying,
I'm telling you.
500
00:24:54,035 --> 00:24:55,829
CREATOR (over phone): Visually.
ROBERT: Visually.
501
00:24:55,829 --> 00:24:57,330
CREATOR (over phone): I
understand, but please
don't mention those
502
00:24:57,330 --> 00:24:59,166
things in the VC, because
it's absolutely not true.
503
00:24:59,166 --> 00:25:00,751
ROBERT: Well, I understand
that, but I mean if you could
504
00:25:00,751 --> 00:25:02,627
put yourself in an investor's
position for a second, I mean,
505
00:25:02,627 --> 00:25:04,129
you would want, you would want
somebody to ask that on your
506
00:25:04,129 --> 00:25:05,505
behalf, wouldn't you?
507
00:25:05,505 --> 00:25:07,215
I don't understand why
you're getting so defensive.
508
00:25:07,215 --> 00:25:08,967
CREATOR (over phone):
Rob, I apologize.
509
00:25:08,967 --> 00:25:10,844
ROBERT: You should lasso,
you should pull your boy
in there, man.
510
00:25:10,844 --> 00:25:14,055
If you're legitimate, he's
making you look very, very bad.
511
00:25:14,055 --> 00:25:15,474
CREATOR (over phone): Who is
looking, who is making.
512
00:25:15,474 --> 00:25:18,685
ROBERT: You! You are.
You are, sir! You are.
513
00:25:18,685 --> 00:25:21,438
An investor sent me here who's
got money in your project and
514
00:25:21,438 --> 00:25:24,399
asked me right
because that's what we do.
515
00:25:24,858 --> 00:25:26,568
MARIANA: What happened?
516
00:25:26,568 --> 00:25:28,862
ROBERT: Now I'm banned.
MARIANA: Oh, he banned you?
517
00:25:28,862 --> 00:25:30,197
ROBERT: Yeah.
518
00:25:30,197 --> 00:25:31,198
MARIANA: They kicked
you out and banned you?
519
00:25:31,198 --> 00:25:33,200
ROBERT: Yup.
That's it, I'm out.
520
00:25:33,200 --> 00:25:34,367
MARIANA: So what do you think?
What do you think?
521
00:25:34,367 --> 00:25:35,619
ROBERT: Scam, total scam.
522
00:25:35,619 --> 00:25:37,120
MARIANA: 100% scam?
ROBERT: 100% scam.
523
00:25:37,120 --> 00:25:38,538
MARIANA: How do you know?
524
00:25:38,538 --> 00:25:41,374
ROBERT: I mean, who, why
would, if I came to you, right?
525
00:25:41,374 --> 00:25:43,877
And you had a legitimate
thing going, and I said,
526
00:25:43,877 --> 00:25:46,963
"Hey, my guy's got some money in
your project, can you explain to
527
00:25:46,963 --> 00:25:49,257
me why it's not
working out this way?"
528
00:25:49,257 --> 00:25:51,134
I would do anything
and everything, right?
529
00:25:51,134 --> 00:25:54,095
To make sure that you understood
that your money's safe.
530
00:25:54,095 --> 00:25:57,182
You know $14 billion last year,
that's a lot of money, you know.
531
00:25:57,182 --> 00:25:58,600
MARIANA: Is that the
amount that was lost?
532
00:25:58,600 --> 00:26:00,685
ROBERT: 14 billion, yeah.
MARIANA: $14 billion?
533
00:26:00,685 --> 00:26:02,062
ROBERT: $14 billion.
534
00:26:02,062 --> 00:26:03,396
MARIANA: To scammers, to
rug pulls, and honey pots.
535
00:26:03,396 --> 00:26:04,815
ROBERT: To scam. Yeah.
MARIANA: Whoa.
536
00:26:04,815 --> 00:26:07,442
To be clear, the
$14 billion in crypto that
537
00:26:07,442 --> 00:26:11,530
scammers stole in 2021
includes a variety of schemes.
538
00:26:11,988 --> 00:26:14,699
REPORTER: The biggest
Bitcoin bust in US history, in
539
00:26:14,699 --> 00:26:18,203
connection with a 2016 hack of
a virtual currency exchange.
540
00:26:18,495 --> 00:26:20,622
REPORTER: Delhi Police has
busted a cyber fraud module
541
00:26:20,622 --> 00:26:22,874
transferring cryptocurrency.
542
00:26:22,874 --> 00:26:26,253
MARIANA: It's estimated that
rug pulls account for nearly
543
00:26:26,253 --> 00:26:28,505
3 billion of that total.
544
00:26:28,964 --> 00:26:31,383
ROBERT: And we calculate that
we probably saved thousands of
545
00:26:31,383 --> 00:26:33,176
people, millions of dollars.
546
00:26:33,176 --> 00:26:34,386
Just us.
547
00:26:34,386 --> 00:26:36,638
MARIANA: But busting
scammers isn't easy.
548
00:26:36,638 --> 00:26:39,391
The flow of crypto
can be hard to track.
549
00:26:39,391 --> 00:26:42,060
MAN: It's virtually impossible
to detect where they are and
550
00:26:42,060 --> 00:26:43,562
how to track them down.
551
00:26:43,562 --> 00:26:46,106
MARIANA: There's a lack of
specific laws around rug pulls
552
00:26:46,106 --> 00:26:50,527
and a decent likelihood that
scammers are operating overseas.
553
00:26:50,527 --> 00:26:53,113
REPORTER: One common complaint
is that police aren't doing
554
00:26:53,113 --> 00:26:55,699
enough to track
down these scammers.
555
00:26:55,699 --> 00:26:58,076
MARIANA: That's a big reason
why vigilante groups,
556
00:26:58,076 --> 00:27:00,453
like Robert's, have taken off.
557
00:27:00,453 --> 00:27:02,539
ROBERT: We pay for
bounties, and so we can.
558
00:27:02,539 --> 00:27:04,749
MARIANA: And bounties, you're
basically paying people to
559
00:27:04,749 --> 00:27:07,586
tell you if they see
some suspicious activity?
560
00:27:07,586 --> 00:27:10,005
ROBERT: It could be a dev,
it could be an influencer.
561
00:27:10,005 --> 00:27:11,089
MARIANA: Uh-hmm.
562
00:27:11,089 --> 00:27:12,507
How much do you
pay for these tips?
563
00:27:12,507 --> 00:27:15,552
ROBERT: Well, in the last 30
days of its existence,
564
00:27:15,552 --> 00:27:18,638
we paid about $17,500.
565
00:27:18,638 --> 00:27:20,348
MARIANA: Wow.
That's a lot of money.
566
00:27:20,348 --> 00:27:21,558
ROBERT: It's a
lot of money, yeah.
567
00:27:21,558 --> 00:27:22,434
MARIANA: Where does
that money come from?
568
00:27:22,434 --> 00:27:23,852
ROBERT: Well, we have a token.
569
00:27:23,852 --> 00:27:27,772
SEEK Token and it's really
there to fund our mission.
570
00:27:27,772 --> 00:27:29,274
MARIANA: Yup.
571
00:27:29,274 --> 00:27:31,735
Even the vigilantes who have
been burned by crypto have
572
00:27:31,735 --> 00:27:33,695
their own crypto token.
573
00:27:33,695 --> 00:27:35,947
ROBERT: We have had
death threats, and
all the good things.
574
00:27:35,947 --> 00:27:37,532
MARIANA: You've
gotten death threats?
575
00:27:37,532 --> 00:27:39,242
ROBERT: Oh absolutely.
Yeah, constant.
576
00:27:39,242 --> 00:27:40,869
MARIANA: And they know
who you are and they
know where you live?
577
00:27:40,869 --> 00:27:42,203
ROBERT: Oh, absolutely.
578
00:27:42,203 --> 00:27:44,748
Yeah, my coordinates were
in a previous article,
579
00:27:44,748 --> 00:27:46,249
my GPS coordinates.
580
00:27:46,249 --> 00:27:47,500
MARIANA: So, how do
you feel about that?
581
00:27:47,500 --> 00:27:49,669
ROBERT: I mean, I keep
my team safe, you know?
582
00:27:49,669 --> 00:27:52,130
I've taken security
precautions at my home.
583
00:27:52,130 --> 00:27:53,632
MARIANA: You have?
ROBERT: Yeah, oh yeah.
584
00:27:53,632 --> 00:27:54,925
MARIANA: Such as?
585
00:27:54,925 --> 00:27:57,052
ROBERT: Such as
private stuff, yeah.
586
00:27:57,052 --> 00:27:58,303
I'm American, we
have firearms.
587
00:27:58,303 --> 00:27:59,930
You know, so.
588
00:27:59,930 --> 00:28:02,682
MARIANA: Does your wife
worry about the security
aspect of this?
589
00:28:02,682 --> 00:28:04,434
ROBERT: You know, it concerns
her, but at the same time, too,
590
00:28:04,434 --> 00:28:07,646
I don't, I don't tell my
wife every time that somebody
591
00:28:07,646 --> 00:28:11,816
named the Buttcorn
Bandit threatens to kill me.
592
00:28:11,816 --> 00:28:13,318
MARIANA: Is that the
name that they use?
593
00:28:13,318 --> 00:28:15,654
ROBERT: That was one of my
first death threats ever, was
594
00:28:15,654 --> 00:28:16,821
the Buttcorn Bandit.
595
00:28:16,821 --> 00:28:18,323
Yeah.
596
00:28:18,323 --> 00:28:19,991
If you want me to be afraid
I'm okay with that, but you
597
00:28:19,991 --> 00:28:23,036
gotta be something a
little stronger than
the Buttcorn Bandit.
598
00:28:23,036 --> 00:28:25,789
MARIANA: So, what would you
say to the rug pullers and the
599
00:28:25,789 --> 00:28:29,793
scammers out there who
claim that what they're
doing is not illegal
600
00:28:29,793 --> 00:28:33,046
and, to some extent, they say
it's not even morally wrong,
because people are investing...
601
00:28:37,717 --> 00:28:39,719
ROBERT: You know you can't
take something that doesn't
belong to you and call that
602
00:28:39,719 --> 00:28:41,262
a bad investment,
that's stealing.
603
00:28:41,262 --> 00:28:42,806
They put people
in jail for that.
604
00:28:42,806 --> 00:28:44,349
In some places they cut your
hands off, but in crypto, they
605
00:28:44,349 --> 00:28:46,685
think they get a free pass.
606
00:28:47,102 --> 00:28:49,729
AGENT: The FBI have seen a
number of crypto currency scams.
607
00:28:49,729 --> 00:28:52,691
We certainly do hear a lot of
tales of how crypto currency
608
00:28:52,691 --> 00:28:55,443
has a lot of gray areas and
undefined areas that this
609
00:28:55,443 --> 00:28:57,821
isn't money, so money
rules shouldn't apply.
610
00:28:57,821 --> 00:29:00,490
When individuals are under the
understanding, or assumption
611
00:29:00,490 --> 00:29:03,326
of a particular promise, and
then that's not delivered,
612
00:29:03,326 --> 00:29:04,911
that is fraud.
613
00:29:04,911 --> 00:29:06,329
Fraud is fraud.
614
00:29:06,329 --> 00:29:07,956
MARIANA: Aren't you afraid
that you might get caught?
615
00:29:14,170 --> 00:29:16,131
MARIANA: There's not a lot of
laws out there right now to
616
00:29:16,131 --> 00:29:17,757
sort of regulate
what you guys do.
617
00:29:18,675 --> 00:29:20,677
MARIANA: Are you afraid
that the law will catch up?
618
00:29:27,934 --> 00:29:30,395
AGENT: What we often find
is that new technology is
619
00:29:30,395 --> 00:29:33,898
first adopted by predatory
individuals and in the last
620
00:29:33,898 --> 00:29:35,859
year we've seen an
exponential growth of
621
00:29:35,859 --> 00:29:38,111
crypto currency related fraud.
622
00:29:38,111 --> 00:29:39,738
♪ I be playing with the
money like, whoa ♪
623
00:29:39,738 --> 00:29:41,614
♪ Still got a lot more to go ♪
624
00:29:41,614 --> 00:29:44,659
AGENT: Fraudsters who are
engaged in rug pulls have to
625
00:29:44,659 --> 00:29:46,870
have an internal justification
for the type of actions that
626
00:29:46,870 --> 00:29:48,204
they're taking.
627
00:29:48,204 --> 00:29:50,331
It can be that the victims
should know better and
628
00:29:50,331 --> 00:29:51,833
not be victimized.
629
00:29:51,833 --> 00:29:55,045
It should be that, "Well this
technology works this way,
630
00:29:55,045 --> 00:29:56,296
it's their problem.
631
00:29:56,296 --> 00:29:58,089
Their problem, that they
weren't aware of that."
632
00:29:58,089 --> 00:30:00,425
The same argument would say
that, "Well, because I can get
633
00:30:00,425 --> 00:30:02,510
into your house,
I can rob you."
634
00:30:02,510 --> 00:30:05,597
They are a criminal
enterprise, trying to remove
635
00:30:05,597 --> 00:30:08,058
folks from their
hard earned money.
636
00:30:08,058 --> 00:30:09,809
♪ Man with the
money like a toddler ♪
637
00:30:09,809 --> 00:30:12,562
AGENT: We'll make sure
that those actors will
be held to justice.
638
00:30:12,979 --> 00:30:14,939
♪ Yeah
Pull up on the scene ♪
639
00:30:14,939 --> 00:30:16,775
MARIANA: Despite the best
efforts of vigilantes and the
640
00:30:16,775 --> 00:30:20,862
FBI, Mr. X and his crew are
still free to launch scams
641
00:30:20,862 --> 00:30:23,656
with very little
effort or risk.
642
00:30:23,656 --> 00:30:27,202
ROBERT: We get about 1,500
tips in a 30-day period.
643
00:30:27,202 --> 00:30:28,453
MARIANA: Wow.
That's a lot.
644
00:30:28,453 --> 00:30:29,996
ROBERT: Yeah, it's a lot.
645
00:30:29,996 --> 00:30:32,165
MARIANA: But there is one thing
that can stop these scammers.
646
00:30:32,165 --> 00:30:34,584
The markets themselves.
647
00:30:34,584 --> 00:30:36,920
COLBERT: It's been a bit
of a bumpy ride recently
for crypto currency.
648
00:30:36,920 --> 00:30:38,880
REPORTER: Major crypto
currencies have seen some
649
00:30:38,880 --> 00:30:40,965
steep losses.
650
00:30:40,965 --> 00:30:43,510
MARIANA: It was
called the crypto winter.
651
00:30:43,885 --> 00:30:48,848
By mid-2022, cryptocurrencies
had lost more than $2 trillion
652
00:30:48,848 --> 00:30:51,017
from their highs
the year before.
653
00:30:51,017 --> 00:30:54,020
REPORTER: The crypto selloff
has left investors scrambling.
654
00:30:54,020 --> 00:30:55,688
MAN: People lost
their shirts in this crash.
655
00:30:55,688 --> 00:30:58,316
MARIANA: Predictably,
investors were spooked, which
656
00:30:58,316 --> 00:31:01,319
meant that rug pulls were
much harder to pull off.
657
00:31:01,736 --> 00:31:06,449
WOMAN: I lost over 450,000 USD,
I cannot pay the bank.
658
00:31:06,449 --> 00:31:07,992
I will lose my home soon.
659
00:31:07,992 --> 00:31:10,954
MARIANA: Seemingly overnight,
our access to Mr. X and his
660
00:31:10,954 --> 00:31:12,664
team had vanished.
661
00:31:12,664 --> 00:31:17,127
And I wasn't sure when or
if we'd ever get it back.
662
00:31:26,344 --> 00:31:33,143
♪ ♪
663
00:31:45,655 --> 00:31:52,370
♪ ♪
664
00:31:58,376 --> 00:32:00,837
MARIANA: Mr. X and his crew
ghosted us for a while after
665
00:32:00,837 --> 00:32:02,755
we met them in Dubai,
666
00:32:02,755 --> 00:32:06,551
but now they've resurfaced
in Houston, Texas.
667
00:32:07,385 --> 00:32:09,971
We're here to meet Mr. X.
668
00:32:09,971 --> 00:32:11,931
He sort of disappeared
on us for a while,
669
00:32:11,931 --> 00:32:14,267
but he finally came through.
670
00:32:14,267 --> 00:32:16,978
We started
talking to him again.
671
00:32:17,896 --> 00:32:23,359
♪ You took my day,
you stole my life ♪
672
00:32:23,776 --> 00:32:27,155
♪ Two million, two million,
two million, two million, uh ♪
673
00:32:27,739 --> 00:32:30,408
MARIANA: It's definitely an
interesting time to be with him,
674
00:32:30,408 --> 00:32:34,621
because crypto has
crashed dramatically since
675
00:32:34,621 --> 00:32:37,123
the last time we were
with him in Dubai.
676
00:32:37,123 --> 00:32:38,625
♪ The way they
think is minimal ♪
677
00:32:38,625 --> 00:32:40,043
♪ We got hot when
the wind is cold ♪
678
00:32:40,043 --> 00:32:41,669
♪ I'm just down for
the inner soul ♪
679
00:32:41,669 --> 00:32:43,213
♪ Dream more water, mineral ♪
680
00:32:43,213 --> 00:32:46,466
MARIANA: My first stop with
Mr. X though, has nothing to
681
00:32:46,466 --> 00:32:49,761
do with how he's making money,
and everything to do with
682
00:32:49,761 --> 00:32:52,347
how he's spending it.
683
00:32:52,347 --> 00:32:55,308
This is him, last
seen in a bull mask.
684
00:32:55,308 --> 00:32:56,684
Good morning.
685
00:32:56,684 --> 00:32:59,854
Now leading me into his
favorite jewelry store.
686
00:32:59,854 --> 00:33:01,606
Bitcoin on top of a rocket.
687
00:33:01,606 --> 00:33:04,025
That's what you were
hoping would be happening
right now, right?
688
00:33:04,025 --> 00:33:07,570
It's curious to me that even
though the crypto market has
689
00:33:07,570 --> 00:33:11,866
crashed, these guys all
still seem to be living large.
690
00:33:11,866 --> 00:33:13,534
What is this one?
691
00:33:13,534 --> 00:33:16,746
ASSISTANT: Um, that's a
crypto coin we're kind
of cultivating into.
692
00:33:16,746 --> 00:33:19,958
So, that should be out
pretty soon, as well.
693
00:33:20,959 --> 00:33:24,587
MARIANA: Even Mr. X's
jeweler has a token
that he's promoting.
694
00:33:24,587 --> 00:33:28,383
JOHNNY: You don't want to
miss this, (bleep) on me,
695
00:33:28,383 --> 00:33:32,637
available October 14
on (bleep) dot com
696
00:33:32,637 --> 00:33:34,389
(bleep)!
697
00:33:34,389 --> 00:33:35,848
What's up?
How you doing, man?
698
00:33:35,848 --> 00:33:38,059
MARIANA: Johnny Dang is
apparently the go to guy for
699
00:33:38,059 --> 00:33:40,937
those who want to turn
crypto, or cash, into
700
00:33:40,937 --> 00:33:42,939
gold and diamonds.
701
00:33:42,939 --> 00:33:46,192
JOHNNY: Got the diamond
around that with engraving.
702
00:33:46,192 --> 00:33:47,777
Perfect gold.
703
00:33:47,777 --> 00:33:50,822
MARIANA: Or if you want to
bedazzle a fully functional
704
00:33:50,822 --> 00:33:52,448
AK-47.
705
00:33:52,448 --> 00:33:57,495
Oh, wow, it's a little heavier
than the common AK, right?
706
00:33:57,495 --> 00:33:58,830
Can I ask you how
much that cost?
707
00:34:02,166 --> 00:34:02,542
MARIANA: It cost some money?
708
00:34:04,627 --> 00:34:06,504
JOHNNY: All right.
709
00:34:06,504 --> 00:34:09,340
MARIANA: I don't think
Johnny Dang knows how
Mr. X makes his money.
710
00:34:09,340 --> 00:34:11,009
Never say no to champagne.
711
00:34:11,009 --> 00:34:14,387
Or that he might be using his
store to launder his profits.
712
00:34:14,387 --> 00:34:15,930
♪ Aye, aye ♪
713
00:34:15,930 --> 00:34:17,557
♪ You jumped in the hooptie,
I hopped in a Benz ♪
714
00:34:17,557 --> 00:34:19,851
MARIANA: But I've been itching
since Dubai to see how these
715
00:34:19,851 --> 00:34:22,645
guys actually
set up a rug pull.
716
00:34:22,645 --> 00:34:26,524
♪ What you gonna do to red,
what you gonna do red, ♪
717
00:34:26,524 --> 00:34:29,235
♪ what you gonna do to red, look
I hopped in the back as you ♪
718
00:34:29,235 --> 00:34:30,403
♪ driving this steer ♪
719
00:34:30,403 --> 00:34:31,863
♪ Here go I dropped to the ops ♪
720
00:34:31,863 --> 00:34:35,158
MARIANA: Another member of
X's scam crew has surfaced.
721
00:34:40,330 --> 00:34:42,874
MARIANA: S, The
Shiller, is in town.
722
00:34:42,874 --> 00:34:46,085
So when you do your stuff,
when you do your shilling.
723
00:34:46,961 --> 00:34:51,090
MARIANA: You use
Twitter, what else do you use?
724
00:34:51,090 --> 00:34:51,799
MARIANA: With my phone?
725
00:34:52,633 --> 00:34:53,760
MARIANA: Okay.
726
00:34:57,013 --> 00:34:59,015
MARIANA: New tokens.
Okay. Let's try that.
727
00:35:00,433 --> 00:35:02,352
MARIANA: How many of
these things are there? Lists.
728
00:35:03,853 --> 00:35:05,605
MARIANA: Crypto moonshots,
crypto moonshots, a lot of
729
00:35:05,605 --> 00:35:06,814
hype around this one.
730
00:35:06,814 --> 00:35:07,899
Bullish!
731
00:35:07,899 --> 00:35:09,400
S: There's a (bleep) one.
732
00:35:09,400 --> 00:35:10,943
MARIANA: Kermit Inu is the
next generation, Republic Inu
733
00:35:10,943 --> 00:35:13,154
is an upcoming influencer
backed, take the world by storm.
734
00:35:18,868 --> 00:35:20,578
MARIANA: Yeah, there's a
bunch of rugs every day.
735
00:35:20,578 --> 00:35:23,665
Not even these scammers know
which of these tokens are real
736
00:35:23,665 --> 00:35:25,458
and which are fake.
737
00:35:25,458 --> 00:35:27,877
And that's exactly the point.
How does it work?
738
00:35:34,092 --> 00:35:36,636
MARIANA: And people, people
actually believe, believe
these lines?
739
00:35:40,223 --> 00:35:41,265
MARIANA: So make
it seem like it's.
740
00:35:41,849 --> 00:35:42,642
MARIANA: Much
bigger than it is?
741
00:35:43,059 --> 00:35:43,601
MARIANA: All right.
742
00:35:47,355 --> 00:35:48,773
MARIANA: People
that work for you?
743
00:35:49,440 --> 00:35:50,566
MARIANA: So you want
them to promote stuff.
744
00:35:51,567 --> 00:35:53,361
STRAHAN: Kim Kardashian, she
has agreed to pay nearly
745
00:35:53,361 --> 00:35:57,490
$1.3 million for promoting
crypto currency on social media,
746
00:35:57,490 --> 00:36:00,535
without providing
necessary disclosures.
747
00:36:00,535 --> 00:36:02,078
REPORTER: In addition to
paying the fine, Kardashian
748
00:36:02,078 --> 00:36:05,998
also agreed to cooperate with
the SECs ongoing investigation.
749
00:36:06,332 --> 00:36:08,376
MARIANA: The list of
celebrities facing criticism
750
00:36:08,376 --> 00:36:10,420
for pushing crypto is growing.
751
00:36:10,420 --> 00:36:13,381
In most cases, no
legal lines were crossed.
752
00:36:13,381 --> 00:36:16,384
But these influencers are
often getting paid big money
753
00:36:16,384 --> 00:36:19,929
to hock crypto projects they
know very little about,
754
00:36:19,929 --> 00:36:22,849
which is why their fans and
followers who have gotten
755
00:36:22,849 --> 00:36:24,976
burned are so upset.
756
00:36:24,976 --> 00:36:26,978
MAN: To the moon.
MUSK: To the moon.
757
00:36:26,978 --> 00:36:28,855
REPORTER: I think Musk is
manipulating the market, and
758
00:36:28,855 --> 00:36:31,023
I think you're doing
exactly the same thing.
759
00:36:31,023 --> 00:36:33,151
PORTNOY: The
answer is SafeMoon.
760
00:36:33,151 --> 00:36:35,278
It could be a scam,
I don't think it is.
761
00:36:35,278 --> 00:36:41,367
Invest with your own money.
762
00:36:41,367 --> 00:36:43,035
MARIANA: So why do
people still trust them?
763
00:36:54,088 --> 00:36:56,299
MARIANA: So when is
your next rug pull?
764
00:37:01,721 --> 00:37:03,139
MARIANA: So it
could happen tomorrow?
765
00:37:14,484 --> 00:37:15,943
MARIANA: Hmm. Oh, so
you can do it in a day?
766
00:37:18,154 --> 00:37:20,031
MARIANA: Hmm.
767
00:37:21,991 --> 00:37:24,118
In 15 minutes you can get this
all done and you can launch it
768
00:37:24,118 --> 00:37:25,578
right from here, right now.
769
00:37:26,454 --> 00:37:28,706
MARIANA: Right now?
770
00:37:38,508 --> 00:37:40,676
MARIANA: I've been waiting
for this moment since we
771
00:37:40,676 --> 00:37:42,845
first met in Dubai.
772
00:37:42,845 --> 00:37:44,138
Finally. Thank you.
773
00:37:44,138 --> 00:37:46,682
Mr. X has agreed to
demonstrate how easy these
774
00:37:46,682 --> 00:37:48,601
rug pulls are to set up.
775
00:37:56,025 --> 00:37:58,945
MARIANA: He takes me to a
tattoo shop with good Wi-Fi.
776
00:38:03,950 --> 00:38:05,451
MARIANA: Sit right here?
777
00:38:08,329 --> 00:38:10,122
MARIANA: Okay. So how is it
done, what do we, what do you?
778
00:38:16,254 --> 00:38:19,215
MARIANA: He just finds a crypto
project that's doing well,
779
00:38:19,215 --> 00:38:23,302
snatches the computer code that
makes it special and renames it.
780
00:38:33,187 --> 00:38:35,565
MARIANA: It's a
simple copy and paste job.
781
00:38:35,565 --> 00:38:38,276
Like stealing the text of
someone else's novel and then
782
00:38:38,276 --> 00:38:41,320
telling everyone to come
and buy your new book.
783
00:38:41,320 --> 00:38:43,823
So, you can be at a coffee
shop, at a tattoo parlor,
784
00:38:43,823 --> 00:38:46,909
wherever it is, in 15 minutes
you can get this all done and
785
00:38:46,909 --> 00:38:48,744
you could launch it
right from here, right now?
786
00:38:53,040 --> 00:38:54,959
MARIANA: Right now?
787
00:38:58,462 --> 00:39:01,048
MARIANA: So why are
you not doing it?
788
00:39:12,351 --> 00:39:14,520
MARIANA: Would it be smart for
you to launch a token right now,
789
00:39:14,520 --> 00:39:16,439
with the markets
down, like they are?
790
00:39:18,983 --> 00:39:21,402
MARIANA: But, if I wanted,
if I was a newbie starting at
791
00:39:21,402 --> 00:39:23,613
this, I could
just go on there.
792
00:39:23,613 --> 00:39:24,196
MARIANA: Find this
and do it myself?
793
00:39:26,407 --> 00:39:27,450
MARIANA: So, that's not illegal?
That's totally.
794
00:39:38,919 --> 00:39:39,128
MARIANA: Right.
795
00:39:41,130 --> 00:39:43,424
MARIANA: But now it's the
first time that you're
saying that it's not,
796
00:39:43,424 --> 00:39:46,010
it's the first time you're
saying it's not right, because.
797
00:39:49,847 --> 00:39:50,765
MARIANA: Did you change
your mind? Did something?
798
00:39:54,435 --> 00:39:55,645
MARIANA: Okay, but now you're.
799
00:39:58,481 --> 00:39:59,774
MARIANA: You didn't
go that far last time.
800
00:40:01,776 --> 00:40:03,736
MARIANA: I think you
changed your mind.
801
00:40:18,459 --> 00:40:21,295
(chatter)
802
00:40:24,840 --> 00:40:28,177
MARIANA: When trying to
understand scammers of any kind,
803
00:40:28,177 --> 00:40:31,597
you never quite
know which way is up.
804
00:40:33,057 --> 00:40:36,185
On our last day in Houston,
I hoped to meet up with Mr. X
805
00:40:36,185 --> 00:40:39,647
one last time,
but he bails on me.
806
00:40:39,647 --> 00:40:43,109
I mean, it's been
really just difficult to
work with these guys.
807
00:40:43,109 --> 00:40:44,568
Particularly X.
808
00:40:44,568 --> 00:40:47,238
He's been promising all this
access and telling us he's
809
00:40:47,238 --> 00:40:49,991
gonna show us this and that,
and then, last minute,
810
00:40:49,991 --> 00:40:53,035
either doesn't show up, or
nothing of what he promises
811
00:40:53,035 --> 00:40:54,745
actually happens.
812
00:40:54,745 --> 00:40:58,416
The night before, off camera,
Mr. X admitted to our producer
813
00:40:58,416 --> 00:41:02,461
that despite earlier denials,
they've continued scamming.
814
00:41:02,461 --> 00:41:05,715
But, of course, he
didn't give us any details.
815
00:41:06,257 --> 00:41:08,300
They've come clean to us, and
they said that they have been
816
00:41:08,300 --> 00:41:11,011
rug pulling this whole time.
817
00:41:11,011 --> 00:41:12,138
Yeah.
818
00:41:12,138 --> 00:41:13,973
They've just been,
basically, lying to us.
819
00:41:13,973 --> 00:41:17,393
These days, you just can't
take professional scammers
820
00:41:17,393 --> 00:41:19,395
at their word.
821
00:41:20,604 --> 00:41:22,481
Do your friends and family
know you're in this business?
822
00:41:24,358 --> 00:41:25,443
MARIANA: Do your
parents know you do this?
823
00:41:26,527 --> 00:41:27,820
MARIANA: What do
they think you do?
824
00:41:29,071 --> 00:41:29,947
MARIANA: Are you?
825
00:41:31,073 --> 00:41:32,700
MARIANA: Does your
family know what you do?
826
00:41:34,368 --> 00:41:36,579
MARIANA: Do you think
they're proud of you?
827
00:41:42,918 --> 00:41:44,628
MARIANA: (bleep) no.
828
00:41:44,628 --> 00:41:47,715
AGENT: Have to be
careful what we say.
829
00:41:47,715 --> 00:41:51,469
I would say, for those
interested in crypto currency
830
00:41:51,469 --> 00:41:54,180
scams, there are very few
individuals who have run a
831
00:41:54,180 --> 00:41:57,516
fraudulent empire and are
living comfortably on the
832
00:41:57,516 --> 00:42:00,728
beach in retirement,
with a large bulk of funds.
833
00:42:00,728 --> 00:42:02,229
MARIANA: Hi, P.
Where are you right now?
834
00:42:04,148 --> 00:42:05,441
MARIANA: Oh, you're in Ibiza.
835
00:42:14,325 --> 00:42:15,993
MARIANA: You know, the
market has been crashing,
836
00:42:15,993 --> 00:42:17,828
it's really, crypto is
really low right now.
837
00:42:17,828 --> 00:42:19,079
Has that affected you at all?
838
00:42:21,999 --> 00:42:23,834
MARIANA: Millions of dollars?
Really?
839
00:42:23,834 --> 00:42:26,295
But do you still have enough
to be partying in Ibiza?
840
00:42:47,817 --> 00:42:50,736
MARIANA: We can't confirm any
of this, but clearly this is
841
00:42:50,736 --> 00:42:53,656
how he justifies
his decisions.
842
00:42:55,407 --> 00:42:59,745
♪ It was over before
it even began ♪
843
00:42:59,745 --> 00:43:01,247
AGENT: It's often been
said that the FBI always gets
844
00:43:01,247 --> 00:43:03,249
their man, whether
it's today or tomorrow.
845
00:43:06,961 --> 00:43:09,088
AGENT: Those looking to
victimize U.S. citizens
846
00:43:09,088 --> 00:43:10,965
should always keep an
eye looking over their back.
847
00:43:10,965 --> 00:43:13,509
♪ Eye to eye ♪
848
00:43:13,509 --> 00:43:16,011
MARIANA: I think one thing is
very clear, is that they will
849
00:43:16,011 --> 00:43:18,055
keep doing this.
850
00:43:18,055 --> 00:43:19,807
Are there people still buying
tokens and still investing in
crypto right now?
851
00:43:22,726 --> 00:43:24,645
MARIANA: They will
keep stealing your money.
852
00:43:24,645 --> 00:43:26,063
They'll keep scamming.
853
00:43:26,063 --> 00:43:27,731
XAVIER: People are buying
and buy, buy, buy, buy.
854
00:43:27,731 --> 00:43:30,526
MARIANA: They'll keep spending
your money at Johnny Dang's,
855
00:43:30,526 --> 00:43:31,694
and buying gold and diamonds.
856
00:43:31,694 --> 00:43:33,404
MR. X: Yes, sir.
857
00:43:33,404 --> 00:43:34,905
♪ What should we do? ♪
858
00:43:34,905 --> 00:43:35,906
MARIANA: That is guaranteed.
859
00:43:44,707 --> 00:43:51,046
♪ I'm gonna find all
the words to tell you ♪
860
00:43:51,046 --> 00:43:53,507
XAVIER: You need to do your
research, heavily, before you
861
00:43:53,507 --> 00:43:55,092
get into anything.
862
00:43:55,092 --> 00:43:58,012
♪ You in my life,
I had favored you ♪
863
00:44:00,681 --> 00:44:02,725
♪ To keep you ♪
864
00:44:02,725 --> 00:44:04,268
♪ To keep you ♪
865
00:44:04,268 --> 00:44:05,936
♪ Oh, yes ♪
866
00:44:05,936 --> 00:44:09,899
♪ You're the only one
who knows why I'm gone ♪
867
00:44:09,899 --> 00:44:11,525
Captioned by
Cotter Media Group.
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