The Japanese kids seem to be too smart to fall for get-rich-quick schemes and crypto scammers as the high school children often get into crypto hacking as per the reports that we have in our cryptocurrency news.
According to Ryuku Shimpo, the education authority of the Okinawa Prefecture, earlier in November, there was a survey conducted including 88 high schools in the region and it was discovered that almost no students admitted to investing in crypto projects. A huge number did outline however that they had friends of a similar age who invested their money into potentially fake crypto ventures.
The Japanese kids in the area were then asked to hand over sums of between $270 and $500 with the promise of a high return. The students explained that they had received invitations to invest in what looked like a multi-level marketing and pyramid crypto scheme via social media and messaging apps such as Twitter, Line and Instagram and some have been approached by strangers in fast food chains.
In some cases, some students were asked to invest in companies while others were asked to purchase tokens at discount prices or to invest in crypto mining collectives, promising them a share of the potential profit. The education authority explained that it has responded by publishing a document that focuses on fake crypto investment platforms and schemes. The authority says that it has begun distributing the document to the high schools in the region in order to prevent future crypto schemes succeeding across the region and further. The get-rich-quick schemes gained popularity over the years since it was a way for the creators of the schemes to lie to people by making them invest in something promising high returns which never happened while they got all of the cash.
What is even more interesting, another recent survey found that less than one-third of the surveyed Japanese citizens are in favor of the mainstream crypto adoption. The Japanese Ministry of Education surveyed about 3,000 citizens and about 80 percent of them said they want to see more advances in robotics. 80 percent of the respondents said that they wanted a future where 5G telecom networks played a key role but about 30 percent of them aged between 15 and 69, said they saw a very important role for crypto in the near future.
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