this post was submitted on 01 Aug 2024
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72
SEC Charges Founder of Social Media Company “IRL” with $170 Million Fraud. (www.sec.gov)
submitted 3 months ago by ModerateImprovement@sh.itjust.works to c/technology@lemmy.world
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[–] dohpaz42@lemmy.world 18 points 3 months ago (1 children)

Apparently only 5% of the accounts were real. 😂

[–] Ilovethebomb@lemm.ee 4 points 3 months ago

Everyone on IRL is a bot except you.

All jokes aside, having staff arrange events etc until you pick up enough actual users for the thing to run organically is pretty normal, filling the site with bot accounts not so much.

It sounds like it was a scam right from the start.

[–] pineapple_pizza@lemmy.dexlit.xyz 9 points 3 months ago

Knew people that worked here, most people inside didn't know either until one day it all came down. Seemed like a really good opportunity at the time. But in 2021 everything seemed like a good opportunity.

[–] Chronographs@lemmy.zip 2 points 3 months ago

lol. Lmao

[–] jaybone@lemmy.world 2 points 3 months ago

Never heard of IRL. Does this mean I’m old?