https://finance.yahoo.com/news/crypto-investors-scramble-173…
Yahoo Finance
'I trusted them with my savings:' Crypto investors scramble after accounts frozen
I both feel sorry for these people and feel like they should have known better. Obviously they didn’t.
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I both feel sorry for these people and feel like they should have known better. Obviously they didn’t.
One can only hope that they come away from this a bit poorer but wiser? I’ve been asked by people (some seniors including an 80+) who watched news stories of people who became wealthy if they should move some of their managed investments to Crypto. Clearly nobody is asking recently.
My hard lesson years ago came when our government decided one Halloween evening that the Income Trusts they had created were far too generous from a tax point of view and changed the rules. Forever known as the Halloween Massacre. It cost the Cons the next election.
https://www.investopedia.com/terms/h/halloween_massacre.asp
What Was the Halloween Massacre?
The Halloween Massacre refers to the Canadian government’s 2006 decision to tax all income trusts domiciled in Canada. On Halloween, Oct. 31, 2006, Canada’s then-minister of finance, Jim Flaherty, announced that all income trusts would be taxed in a similar manner as corporations at a rate of over 30% on taxable income, causing unitholders’ values to decrease dramatically virtually overnight.1
Tim
One can only hope that they come away from this a bit poorer but wiser?
We can hope … but it doesn’t appear to work that way. I’ve read that the group of candidates that are best to target for a scam are people that have been scammed before. And the absolute best group to target are people that have been scammed multiple times before. Apparently scammers have lists of “prime” targets that they share for a fee of course.