In a strange, animated YouTube video, Cryptoland paints itself as the ultimate utopia, featuring luxurious villas, a casino and a private club, all located on a pristine island in Fiji. Built by and for cryptocurrency enthusiasts, it was looking for investors.
To Molly White, the project wasn’t just cringeworthy bluster, it was promotional material for yet another potential scam — one that was targeting the money of real people. Digging into Cryptoland’s organizing documents, she found a business plan full of contradictions and other red flags, like an address in the Seychelles islands, a tax haven which has hosted previous high-profile crypto scams.
White unpacked the project in a dashed-off Twitter thread, which went viral, kicking off a wave of criticism and ridicule and spawning copycat videos that boast millions of views. Now, Cryptoland’s website appears inactive, and supporters have abandoned it. Requests for comment to its founders were not answered.
A 28-year-old software...
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