Following our previous coverage of a significant cryptocurrency scam in Morocco, where approximately 1,500 individuals are poised to lodge a complaint against ‘Yousef.M’ for orchestrating the scheme before purportedly fleeing to the United States and deleting his social media presence, new details have emerged regarding the nature of the fraud.
One victim disclosed that the scam centered around the ‘VIBING CAT TOKEN’, with ‘Yousef.M’ facing allegations of a range of deceptive practices, including promoting the token via social media, conducting fraudulent online courses, and engaging in financial impropriety when promising substantial returns to early investors and early token adopters. Yet ‘Yousef.M’ abruptly vanished following the scheme’s exposure.
A month ago, suspicions around the VCAT (Vibing Cat) token as a scam token grew when a top wallet holder offloaded over $500,000 worth of tokens as the market capitalization reached a high of $20 million. This significant move has raised concerns about the stability and integrity of the VCAT ecosystem.
