🚨 Crypto’s Dark Secret: Luck or Scam? The Copy Trading Trap Exposed! 🚨

by

Ah, the labyrinthine depths of human greed! David Schwartz, the erstwhile CTO of Ripple, has emerged from the shadows to cast a somber light upon the pernicious allure of copy trading. 🕳️ His words, heavy with the weight of experience, echo through the digital ether, a warning to the unsuspecting souls who tread the treacherous paths of cryptocurrency.

This tale of woe began, as many do, on the platform X, where Nic Carter, co-founder of Coin Metrics, unearthed a gem of hubris. A certain individual, with the audacity of a madman, claimed to have transmuted $12 into $100,000, a feat of 8,300x magnification, by riding the volatile waves of BTC. 🌊 Yet, Carter, with the keen eye of a detective, saw through the charade, revealing the ancient trickery at play.

Imagine, if you will, a gambler with a hundred faces, each rolling the dice in a desperate bid for fortune. 🎲 Most perish, their accounts reduced to ashes, but a few, by sheer chance, survive. And it is these survivors, these phantom winners, that the scammer parades as proof of their genius, luring the gullible into the abyss of copy trading. Carter notes, with a touch of irony, that this ruse dates back to the 1870s, when stock tips were whispered through the mail, and the gullible were fleeced with the promise of riches. 📜

The Sage’s Warning: Luck or Deception?

Schwartz, the sage of Ripple, joins the chorus, his voice a clarion call to caution. “Many,” he laments, “have pulled this scam unintentionally, blinded by the illusion of skill, when in truth, it was but the fickle hand of luck.” 🍀 The tragedy, he explains, lies in the impossibility of discerning true skill from past fortune. To follow such a path is to dance with the devil, for one cannot escape the allure of the mirage.

“Many have pulled this scam unintentionally, genuinely thinking they have some edge when they were just lucky. The problem with choosing copy trading is that it’s all but impossible to avoid following someone based solely on past luck.” 😈

– David ‘JoelKatz’ Schwartz (@JoelKatz) January 17, 2026

Carter, ever the vigilant guardian, adds his own cautionary note. “Beware,” he warns, “the siren song of the trader who boasts of their track record. Demand proof of a single account, and watch it like a hawk, lest you be ensnared in their web of deceit.” 🕷️

And so, dear reader, as you navigate the murky waters of crypto, remember the words of these wise men. For in the world of copy trading, luck and scam are but two sides of the same coin, and the line between them is as thin as a razor’s edge. 🪙

Read More

2026-01-17 13:39