Bitcoin ETF

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 <p class="is-style-lead">Electric Capital Co-Founder Avichal Garg warned the crypto community about a new method fraudsters are using to steal money from investors.</p>
 <p>Scammers have started pretending to be venture capital firms in a bid to lure crypto startups to believe they’re talking to legit investors.</p>
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    <p lang="en" dir="ltr">Unfortunately, <a rel="noopener noreferrer nofollow" title="scammers" href="https://thebittimes.com/tag/scammers.html">scammers</a> are pretending to be @ElectricCapital, setting up meetings, and asking people to send them <a rel="noopener noreferrer nofollow" title="money" href="https://thebittimes.com/tag/money.html">money</a> before <a rel="noopener noreferrer nofollow" title="investing" href="https://thebittimes.com/tag/investing.html">investing</a>.<br><br>Electric Capital will *never* ask you to send <a rel="noopener noreferrer nofollow" title="money" href="https://thebittimes.com/tag/money.html">money</a> before receiving an investment. <br><br>We will never reach out cold via Telegram. We almost…</p>— Avichal – Electric ϟ Capital (@avichal) November 27, 2023
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 <p>In an X post on Nov. 28, 2023 Electric Capital Co-Founder Avichal Garg said fraudsters are now setting up meetings, and “asking people to send them <a rel="noopener noreferrer nofollow" title="money" href="https://thebittimes.com/tag/money.html">money</a> before <a rel="noopener noreferrer nofollow" title="investing" href="https://thebittimes.com/tag/investing.html">investing</a>.” The Electric Capital head emphasized that the Palo Alto-headquartered firm “will never ask you to send <a rel="noopener noreferrer nofollow" title="money" href="https://thebittimes.com/tag/money.html">money</a> before receiving an investment.”</p>
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  <p>“We will never reach out cold via Telegram. We almost always go through a mutual friend if we need to reach you.”</p>
  <p>Avichal Garg</p>
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 <p>According to Garg, scammers are offering crypto entrepreneurs to become a liquidity provider into an “Electric” fund and ask money to be eligible to become a member of the fund.</p>
 <p>He added the firm only makes contacts with emails from its official website and is currently working with Google to get verified email domain. According to the Electric Capital Co-Founder, the latest scheme is a social engineering attack, so there will “always be an angle the scammers will try to take.”</p>
 <p>Garg’s warning comes shortly after scammers managed to get control over an X account for Code4arena. In an effort to defraud users, scammers have published a post announcing an airdrop of ARENA tokens endorsed by Paradigm, a San Francisco-based crypto venture capital investment firm.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/electric-capital-co-founder-warns-scammers-impersonate-vc-firms-ask-money-before-investing-tbt71906.html">https://thebittimes.com/electric-capital-co-founder-warns-scammers-impersonate-vc-firms-ask-money-before-investing-tbt71906.html</a></p>

Electric Capital co-founder warns scammers impersonate VC firms, ask money before investing

TheBitTimes

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