The Rise of Crypto Trading Scams

Tomp

New Member
#1
Lately, there's a massive increase in the number of online trading scams focused on the Cryptocurrencies world. Bitcoin was just the start. Today we have dozens of highly-popular cryptocurrencies, and it seems like this is the new trend of many online scammers.

Recently, a friend of mine money got scammed by a crypto trading broker called 'Investous.' While reading about them on a few review sites, such as this, for example, https://bit.ly/2VAFPwu (their score on trustpilot.com is also horrible), I found out that they're actually regulated by CySEC. However, they claim they're regulated by the IFSC in Belize, which is weird. There are also tons of complaints about them by traders who couldn't withdraw their money (my friend had the same issue). Their leverage ratio is exceptionally high (1:500), which also sounds suspicious.

Anybody else got scammed by this company? If so, were you able to get your money back?
 
#3
Hi, I'm sorry to hear about your troubles, here are a few facts to consider when dealing with crypto and most investments:

1) Anything "crypto" attracts the attention of every "hacker" so even mentioning cryo on a website can make you a target. Crypto is hot now so that makes sense.

2) Crypto is unregulated in much of the world, for instance, a company the lends against crypto doesn't need a license in most of the world, while "brokers"

3) There's a HUGE uptick in scams from "timing" scams that involve lenders (similar to eBay/amazon scams with refunds), pump and dump coin issues to exactly what you have mentioned "trading brokers" and these guys are slick.

Here are some tips:

1) Deal with companies that have been around for 5+ years.
2) Deal with companies that exist in jurisdictions that will go after criminals, India, HK, Singapore, EU, USA, etc. the list is long.......not to disparage small nations, I myself am setting up a business in Cyprus but it's for a specific reason and customer demand, my customers know me.
3) If its to good to be true it always is.

Cheers and good luck.
 

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