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2min chapter
Why We Trust Fraudsters!
Patrick Boyle On Finance
Using Social Engineering to Stimulate Strong Emotions
The world watched in awe a few weeks ago as the floor fell out from under Sambankman Freed and his cryptocurrency exchange FTX. On the surface, FTX appeared to be thriving but it was drowning in debt and hidden losses. One negative tweet from a competitor was enough to cause billions of dollars of investor and customer funds to vaporize. Con artists and frauds excel in using social engineering to stimulate strong emotions.
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