Meetup's Crypto Secret? Blockchain Scams Are Running Rampant

The founder of the Worcester Ethereum Meetup had a self-proclaimed blockchain expert interrupt one of his recent meetings focused on how to use cryptocurrency wallets by passing out flyers for a crypto accounting services.

This experience displays just how difficult it's become to run a Meetup group related to cryptocurrency or blockchain, and moreover to educate in any form in the space.

"Around a month or two ago, I started noticing the same type of spam you'd see on Twitter," Moreau said, listing questionable exchange links, giveaways and phishing scams among the culprits he sees on Meetup.

Meetup's policy currently forbids groups that offer "Specific advice or services in areas that require a licensed professional," including law and finance, as well as groups that promise "Financial gains." But when it comes to the nascent cryptocurrency space, it can be tricky to separate education from blatant scams and misinformation.

What's more problematic is when users directly solicit others via the comments section of Meetup groups.

A Meetup user calling himself "Stellar Lumens" promised users of the platform an "Invite bonus" of lumens, the native cryptocurrency of the stellar protocol, even following up with people on Facebook before Meetup shut down the solicitor's account.

Zac Freundt, community manager at the Stellar Development Foundation, told CoinDesk the team at routinely reports such scams on Meetup and other social media platforms.

"I'm thinking about whether Meetup is a good platform for me to organize around anymore, then again, I don't know what my options are otherwise."

Going one step further from Moreau's example, a Stellar Meetup in San Francisco in April left Baker feeling uneasy.

Hannah Rosenberg, co-organizer of the Bitcoin & Open Blockchain Meetup group in Chicago, which has more than 2,550 members, takes a more stringent approach.