CAPE TOWN - British-American businessman and computer programmer, John McAfee reportedly charges R1.2 million per promotional cryptocurrency tweet, reports The Verge.
The founder of computer anti-virus company, McAfee Associates, revealed that he makes a fortune from promoting digital coins or initial coin offerings (ICO).
This comes after McAfee tweeted that his team has written up a guide on how his tweets work. This was then posted to McAfee’s ICO organisation, McAfee Crypto Team.
However, it is important to note that investors do not pay the full R1.2 million. It is essentially divided between his 810 000 followers. It then costs his investors R1.50 each.
The investment craze of cryptocurrency has to date led scores people to consult debt counsellors, Independent Media reported.
Financial expert and Debt Rescue chief executive, Neil Roets said he was in awe when his clients started applying for debt counselling.
“We interviewed our first cryptocurrency victims towards the end of last year who wanted to go under debt review because they were no longer able to adequately service their debt. To my amazement, many of them had been the victims of scams involving cryptocurrencies which promised massive returns.
"Some of them had gone as far as pawning their vehicles, taking out second bonds on their homes and borrowing money on credit cards in order to buy cryptocurrencies,” he said.
Roets said that many victims fell prey to scams where their accounts were hacked by offshore hackers. In other cases, people lost most of their assets due to the extreme volatility of these currencies.
- BUSINESS REPORT ONLINE