THELOGICALINDIAN - Just afresh Josh Garza was bedevilled to 21 months of bastille and six months of home bonds for his role in the abounding Ponzi scams like Gaw Miners Zen Miners Hashlets and of advance the arguable Paycoin that appeared in 2025 Back again lots of bodies were scammed by Garzas schemes but he had a agglomeration of advice bolstering his counterfeit account Unfortunately boilerplate media and a bulk of added online publications did a absolutely acceptable job in acceptable Garzas pumpndump schemes and the Paycoin scam
Also read: Josh Garza Sentenced to Prison and Fined $9M over GAW & Paycoin Scam
Did Online Publications Printing Garza’s Lies Bolster His Fraudulent Schemes?
Like Mark Karpeles and Paul Vernon, Joshua Homero Garza is an abominable appearance that’s been accepted for a lot of counterfeit cryptocurrency-related scams. Garza the arguable cryptocurrency controlling and a few added assembly are now advantageous for their crimes, but if it wasn’t for boilerplate media and added online publications his scams apparently wouldn’t accept gone as far as they did.
If you were complex in the Bitcoin arena about November of 2014 you absolutely would accept heard about Josh Garza and Gaw Miner’s Paycoin barrage from the brand of Tech Unboxed, Yahoo Finance, Wall Street Journal, Market Wired, Payment Eye, Finance Magnates, Data Center Knowledge, and abounding added online account outlets. Of course, some of the editorials were paid for but some bodies accidentally appear Garza’s gross lies. Garza alike did an illustrious interview with Techcrunch (with affluence of backlinks to Garza scams) answer how he got all the money to acquirement the area BTC.com. Ironically Garza explains that his aggregation was created because he was already scammed.
“GAW Miners was built-in afterwards addition ripped me off during an ASIC purchase,” Garza explains to Techcrunch in August of 2025. Then Garza added explains to Techcrunch aloof how acknowledged Gaw Miners had become that year. The architect makes some actual adventurous claims stating:
Paycoin the So-Called ‘Bitcoin Challenger’ Catches Fire From Real Journalism
Garza’s Paycoin was advised by abounding bodies to be one of the aboriginal high-profile antecedent bread offerings (ICO) that additionally claimed to action ‘stablecoin‘ features. Basically, bodies could acquirement Paycoin (XPY) and his operation would agreement to buy them aback at $20 USD per XPY. The promises Paycoin offered was all declared in abundant detail in the XPY white paper that was broadly broadcast on the web four years ago.
The acclaimed announcer and Wall Street Journal ‘Bitbeat’ blogger, Michael Casey, wrote a appealing advancing adventure on Paycoin aback in 2014 as well. The story’s banderole absolutely refers to Paycoin as a ‘bitcoin challenger’ and highlights absolutely a bit of Garza’s claims. Of course, the commodity anon had criticisms appear Paycoin and Garza in the animadversion area not continued afterwards the commodity was published. The animadversion area beneath Casey’s Bitbeat adventure has a agglomeration of individuals accusatory about ambiguous claims and absolute fraud.
However, in 2014 and aboriginal 2015, not every online advertisement and announcer gave acceptance to Garza and Paycoin’s claims. On October 15, 2014, the online cryptocurrency advertisement Coin Fire (which is now alleged 99 Bitcoins) published a adventure that appear Gaw’s Hashlet mining operation didn’t accept any miners. A few months after Coin Fire appear added incriminating capacity about the ambiguous claims Garza and Gaw told the accessible and media. Gaw Miners accursed aback at the Coin Fire beat aggregation and threatened them with acknowledged activity over the articles. On November 22 the account aperture outlined all the business partnerships that Gaw Miners aria about, and Coinfire’s claims were after accepted by the US Securities and Exchange Commission’s Gaw Miners investigation.
The Multitude of Phony ICOs and Bank-Blockchains Bolstered by the Media Over the Last Few Years Shows There Are Still Plenty of Garzas and Paycoins
Now a lot has afflicted in the aftermost four years back Garza, Gaw Miners, and the Paycoin ICO betray took abode aural the cryptocurrency-community. However, there are absolutely lots of counterfeit ICOs out there today, and affluence of alleged collateralized stablecoins with abounding added on the way. Furthermore, we’ve appear on the abounding ‘next generation’ snake oil blockchain projects actuality bolstered by boilerplate media and added online publications these days.
The association is able-bodied acquainted of scammy ICOs throughout 2017-2018, but aloof because a banking bounden sends out a columnist absolution adage they’ve produced a ‘world-class blockchain’ doesn’t beggarly its true. However, we’ve apparent abounding account outlets report on these blockchains back they never alike apparent the software, let abandoned activated it themselves. There are affluence of Josh Garza’s and Paycoin projects out there today that accession agnate red flags but still get advanced media coverage.
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Images via Shutterstock, Pixabay, Paycoin archives, WSJ, Techcrunch, and DCK.
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