The Preston of Park Cities is giving its senior residents the opportunity to learn about cryptocurrencies from Owen Robertson, a senior at the University of...
Debra Dickerson, director of community life at Preston of the Park Cities, introduces Owen Robertson, former president of the blockchain club at the University of Texas at Austin. Robertson is teaching residents a crypto crash course focused on how to avoid scams.Friday afternoon at The Preston of Park Cities retirement home, 16 seniors look up expectantly at their teacher: a 21-year-old former president of the blockchain club at the University of Texas at Austin.
The idea for the lecture came from a brainstorming session for the community’s monthly programming series that focuses on spiritual, emotional, vocational, physical, social, environmental and intellectual wellbeing, said Debra Dickerson, director of community life at The Preston. Robertson opened his talk by telling the story of Lazarus Group, North Korean hackers thought to have stolen as much as $100 million in cryptocurrency from a U.S. company in June.
“This is an example of if it’s too good to be true, it is. The token was originally trusted like the Amazon of the crypto world,” he said. “But it went from hero to zero.” “Ninety-nine percent of what is out right now is not worth the risk,” he said about the industry that’s a little over a decade old. “Don’t trust anyone’s opinion without verifying it yourself.”
“The same traditional scams that were used with banks and payment apps are moving to crypto because it’s faster and cheaper,” he said. “And once the scammer gets it to their own private digital wallet, the victim can’t get it back.”
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