1/ Here’s how KongBTC, a Dubai based influencer fraudulently mislead 100+ people into losing 49.114 BTC
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2/ Back in Fall of 2018 Kong & his partner VJ frequented a number of different crypto servers eventually opening up three different investment pools (TCD, CTH, Solo pool)
3/ At first they opened a ETH based trading pool in The Crypto Den (TCD) that Kong & his partner claim turned a 30% profit when it was in fact a loss.
Here’s the contract that was agreed to by a TCD pool members.
Here’s the contract that was agreed to by a TCD pool members.
4/ Simultaneously they ran another pooled fund of 17.514 from a Discord community called The Crypto Hub (CTH). They paid out members of the TCD ETH pool with these proceeds.
(Video call held with Kong after funds were all lost)
(Video call held with Kong after funds were all lost)
https://twitter.com/bestvideosofct/status/1481735270680702979
5/ Confident in Kong & VJ’s ability (unknowing TCD ETH actually turned a loss) a new TCD BTC investment pool was raised for.
All the reports sent to members showed Kong & VJ were comfy in profit.
(Video call held with Kong after funds were completely lost)
All the reports sent to members showed Kong & VJ were comfy in profit.
(Video call held with Kong after funds were completely lost)
https://twitter.com/bestvideosofct/status/1481737357145649152
6/ In January 2019 just before the pool was due to finish Kong & VJ came out saying that it had all had been lost due to poor trading
7/ On 1/30 victims voted to propose a repayment plan but Kong offered a minimum of $250 a month & VJ disappeared.
Ex: At a BTC price of $10k per this would take 163 years!
After this failed the victims of the investment pool decided to take legal action.
Ex: At a BTC price of $10k per this would take 163 years!
After this failed the victims of the investment pool decided to take legal action.
8/ Legal action proved to costly. Six total police reports were filed but due to difficulties with Covid delays piled on
In October 2021 however VJ was finally convicted of fraud.
Kong however moved jurisdictions however making all progress stagnant.
In October 2021 however VJ was finally convicted of fraud.
Kong however moved jurisdictions however making all progress stagnant.
9/ Nowadays Kong spends his time flexing on the timeline even with hurting the pockets of 100+ people
10/ Let’s not forget all the undisclosed paid shills Kong does deceiving followers.
11/ After the tweet below Kong DM’d me claiming he did nothing wrong and cited mental health issues.
It’s funny he states the contract except leaves out the part they fraudulently manipulated reports (admits on video).
It’s funny he states the contract except leaves out the part they fraudulently manipulated reports (admits on video).
https://twitter.com/zachxbt/status/1461115439195561984
12/ Luckily recently Dubai released new guidance for influencers promoting crypto
https://twitter.com/tier10k/status/1476483185429172226
13/ In case you’re invested in this and want to watch the full interview with Kong it appears to be uploaded here:
drive.google.com/drive/mobile/f…
drive.google.com/drive/mobile/f…
14/ It’s sad to see all the people effected by this and why I had to be invited to a server with all the victims trying to get justice still in 2022.
@DubaiPoliceHQ I think this guy right here meets all the criteria of you’re looking penalize.
Jail time ✅
Fine ✅
Jail time ✅
Fine ✅
Since the thread was posted KongBTC has removed “Partner @ TheBirbNest” from his bio and mocked victims further
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