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Crypto hedge fund CEO may not exist; probe finds no record of identity
(arstechnica.com)
From Cambridge Dictionary:
unnecessary actions or words that have little meaning and make something seem more important or complicated than it really is
I have to admit, I kind of admire the ballsiness of this scam. It's a mish mash of Madoff, crypto grifters and holo live in an unholy pursuit of insane wealth.