This is just a startup that happens to be able to skirt investment laws. This is a failing of regulations rather than necessarily outright scams. If people coul

This is just a startup that happens to be able to skirt investment laws. This is a failing of regulations rather than necessarily outright scams. If people could invest in regular startups a lot of people would lose money too. Elizabeth Holmes didn't have faulty tests. She literally lied and defrauded investors about having the thing she was working on. That's actually a bad example to compare to the UST situation because that thing was out in the open, including how it worked. A scam requires some deliberate deception or lying. A bad idea is not necessarily a scam, and dumb people knowingly pouring money into a bad idea is also not a scam. If it was a scam in any way, it was a failing of governments of wherever you lived letting you invest in this.