The VelmoCoin Scam

Watch out for the latest ClickMedia scam - this week it is called VelmoCoin 

There is not any information on a cryptocurrency named "VelmoCoin." This means that it is NOT a legtitimate product!
The name has been hijacked from, Venmo, a popular mobile payment service, has ventured into the cryptocurrency space.enmo users in the U.S. can buy, sell, and hold cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash directly through the Venmo app.dditionally, Venmo offers PayPal's stablecoin, PayPal USD (PYUSD).
ecently, Venmo co-founder Iqram Magdon-Ismail and early investor Sam Lessin launched a token called JELLYJELLY on the Solana blockchain.his token is associated with their upcoming video-sharing app, JellyJelly, and experienced a significant surge in value shortly after its debut.

Where Do Scams like VelmoCoin Begin?

Typically they start on social media with adverts like the below:

Where various affiliates compete with advertising the product that they have been assigned on the ClickMedia affiliates 'marketing' sites. These sites offer a slice of the amount defrauded for each victim provided to the boiler room scammers that is successfully defrauded/scammed. 

Where do Links to VelmoCoin Take People?

To fake news sites usually. Here is a quick example:

As you can see it is stolen from this website here:

They have just changed the text and the photos to make the absurd suggestion that James Dyson makes all of his money from an idiotic app on his phone and doesn't actually spend huge amounts of time engineering solutions that are popular worldwide.

VERDICT: VelmoCoin IS A SCAM!!