First she documented the alt-right. Now she's coming for crypto.

[Yo_Mama_Been_Loggin]

In a strange, animated YouTube video, Cryptoland paints itself as the ultimate utopia, featuring luxurious villas, a casino and a private club, all located on a pristine island in Fiji. Built by and for cryptocurrency enthusiasts, it was looking for investors.

https://twitter.com/i/broadcasts/1ZkKzbweeVoKv

To Molly White, the project wasn’t just cringeworthy bluster, it was promotional material for yet another potential scam — one that was targeting the money of real people. Digging into Cryptoland’s organizing documents, she found a business plan full of contradictions and other red flags, like an address in the Seychelles islands, a tax haven which has hosted previous high-profile crypto scams.

White unpacked the project in a dashed-off Twitter thread, which went viral, kicking off a wave of criticism and ridicule and spawning copycat videos that boast millions of views. Now, Cryptoland’s website appears inactive, and supporters have abandoned it. Requests for comment to its founders were not answered.

A 28-year-old software engineer who writes Wikipedia articles for fun, White is an odd figure to make the crypto industry cower. On her website, “Web3 is Going Just Great,” White documents case after case of crypto malfeasance: investments that turn out to be scams, poorly-run projects that collapse under mismanagement and hacks that drain supporters’ money.

https://www.washingtonpost.com/technology/2022/05/29/molly-white-crypto/

[Blue Owl]

1. And coming next: peach tree dish junk science

[2naSalit]

3. YES, sold as NFTs!!

Yikes.

[3Hotdogs]

8. Not to worry.

the Gazpacho Police are investigating as we read this.

[Initech]

2. There's a lot of shady shit in the crypto currency world.

There definitely needs to be some much needed light shed on this subject. I will look forward to seeing what comes out of this.

[2naSalit]

4. I suspect...

It will look much like a cockroach infested room when one turns on the lights.

[ColinC]

5. If she comes for crypto, I will have to gamble in the traditional way

And that would be slightly unfortunate.

[keithbvadu2]

6. Yet, to buy crypto, you need conventional cash.

Yet, to buy crypto, you need conventional cash.

[Baked Potato]

10. Yes, odd how that works out, almost as if it is worthless. Nt

[brush]

7. Thanks for the post. Sure are a lot of crypto crooks out there.

[czarjak]

9. New money has a rough road against the old. Cold, dead hands.

[Dark n Stormy Knight]

11. K&R.