The Velod.ai Crypto Scam

Velod.ai claimed to be a revolutionary crypto investment platform using artificial intelligence (AI). But it turned out to be a scam that caused investors to lose money.

How Velod.ai lured investors

  • Promised high returns by combining AI and human processing
  • Claimed to use leading technology like deep learning and natural language processing
  • Offered a supposedly innovative platform to maximise crypto profits
  • But investors found they couldn’t withdraw their money

The telltale signs of a scam

  • When investors tried to withdraw funds, Velod.ai demanded “deposit fees”
  • Even after paying fees, investors still couldn’t get their money
  • They lost both their initial investments and the extra “fees”
  • Aggressive demands for more payments are a clear red flag of scams

How AI is being used in crypto

  • AI is becoming increasingly common in the crypto world
  • Around 88 AI-related cryptocurrencies currently exist
  • AI can analyse historical data to predict future price trends
  • This sophisticated analysis is easier for AI than human traders
  • But scams like Velod.ai damage trust in combining AI and crypto

Protecting yourself from crypto scams

  • Always research extensively before investing, especially on new platforms
  • Be very wary of platforms not authorised by financial regulators
  • Watch out for red flags, like demands for extra withdrawal fees
  • Stay vigilant as AI adoption grows to avoid losing money to scams
  • If an investment seems too good to be true, it almost certainly is

The key lesson is to be extremely cautious about new crypto platforms, even if they claim to use advanced AI. Thorough research and watching for warning signs can help you avoid falling victim to scams like Velod.ai.

Summary:

Latest Scams