Electric Capital co-founder warns scammers impersonate VC firms, ask money before investing
Electric Capital Co-Founder Avichal Garg warned the crypto community about a new method fraudsters are using to steal money from investors. Scammers have started pretending to be venture capital firms in a bid to lure crypto startups to believe they’re talking to legit investors. Unfortunately, scammers are pretending to be @ElectricCapital, setting up meetings, and asking people to send them money before investing . Electric Capital will *never* ask you to send money before receiving an investment. We will never reach out cold via Telegram. We almost… — Avichal – Electric ϟ Capital (@avichal) November 27, 2023 In an X post on Nov. 28, 2023 Electric Capital Co-Founder Avichal Garg said fraudsters are now setting up meetings, and “asking people to send them money before investing .” The Electric Capital head emphasized that the Palo Alto-headquartered firm “will never ask you to send money before receiving an investment.” “We w...