Crypto Loan Scam That Tricked My Business Partner
My business partner, Daniel, was looking for a crypto-backed loan to expand his company. He came across a lending service called BlockCredit, which offered low-interest loans in stablecoins.

After completing an application, BlockCredit required him to send collateral in Bitcoin before receiving his loan. Trusting the company, he sent 3 BTC (worth $90,000 at the time).

A few days later, he received no funds, and the support team stopped responding. He had fallen for a collateral scam, where scammers ask for crypto deposits as collateral and then vanish with the funds.