• Hogg Pool was a cryptocurrency scam that promised guaranteed returns of $1 per day for investments as low as $10 a month.
• The company also offered more complicated plans involving mining products and promised customers could withdraw money anytime with a 15% tax payment or wait until the end of each month to withdraw their money free.
• Many perpetrators behind the fraud have been arrested in connection with the scam.

Hogg Pool Crypto Scam

Promises & Plans

Hogg Pool was a cryptocurrency scam that promised guaranteed returns of $1 per day for investments as low as $10 a month. The company also offered more complicated plans involving mining products and promised customers could withdraw money anytime with a 15% tax payment or wait until the end of each month to withdraw their money free.

Victims‘ Stories

Many residents of Egypt fell victim to this scam, including Tarek Abd El-Barr, who works in medical supplies. He initially thought it was too good to pass up, but quickly realized it was a scam when he couldn’t access his money anymore and the app he had downloaded vanished from his phone. He said many people took loans from banks to invest in it and he used his car installment money to do so as well.

Suspects Arrested

Fortunately, many suspects behind this fraud have been arrested at the time of writing. This is hopefully some justice being served for those who fell victim to this scam and lost their hard earned money due to false promises made by Hogg Pool’s creators.

Regulators‘ Warnings

Regulators believe that Hogg Pool was never real from its foundation year stated in 2019 Colorado, which should have been an obvious red flag for investors given crypto’s volatility and unpredictable nature on markets; guaranteeing any sort of return is impossible in these conditions, yet Hogg Pool tried anyway.

Conclusion

The story has a „happy“ ending in that many of the perpetrators behind this fraudulent scheme have been arrested at the time of writing; however, it does not take away from all those who were taken advantage off by investing through Hogg Pool’s false promises and guarantees made by its creators – something we all should be aware off when dealing with cryptocurrencies or any other type of investment opportunities online!