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2022 Updated: Crypto Currency Scams Blacklisted Companies To Avoid At All Costs!

Category:Crypto Currency Scam
Length:19 pages
Reading Time:40 min

Excerpt: Investment-related fraud is the most common con on social media in terms of money lost, yet online retail scams account for the majority of reports.

April 1, 2022

Introduction

Any form of digital or virtual property that uses encryption to secure transactions is referred to as cryptocurrency. Cryptocurrencies operate without a central issuing or regulating authority instead of relying on a decentralized system to track transactions and create new units. Examples are Bitcoin, Ethereum, Litecoin, Ripple, and other genuine cryptocurrencies. However, in the middle of the growing bitcoin movement, scammers have taken full advantage of this new platform and continue to devise new ways to defraud individuals using the internet. Nonetheless, we are one step ahead of them, and we will continue to provide you with an updated list of these con artists and information on how to tell if a broker is legitimate or not! 

Hidden cryptocurrencies are the preferred payment option in the world of internet crime. However, virtual hauls must be converted into physical cash at some point. The ability to keep cryptocurrencies without revealing your name has made them more appealing to criminals, especially hackers who demand ransoms after hacking into businesses. According to Chainalysis, a research firm, at least $350 million in crypto ransoms were paid out to hacker gangs in 2020, including DarkSide, the organization that shut down the Colonial Pipeline earlier this month. However, every bitcoin transaction is recorded on an immutable blockchain, leaving a clear trail for anybody with technical knowledge. Several crypto forensics firms have sprung up to assist law enforcement in tracking criminal gangs by analyzing where their funds flow. New York’s Chainalysis, which raised $100 million at a valuation of more than $2 billion earlier this year, London’s Elliptic, which counts Wells Fargo among its backers, and U.S. government-backed CipherTrace are among them.

After government agencies raised red flags about cryptocurrencies being used for money laundering, cryptocurrency exchanges have begun reporting and barring trading accounts that engage in suspicious deals. The self-regulation comes at a time when no legislation or taxation methods for cryptocurrencies have been announced. According to industry monitors, investigators include cybercrime officers, the Enforcement Directorate, and the Internal Revenue Service. Furthermore, leading cryptocurrency exchanges are receiving demands from foreign investigators in regards to some dubious accounts. Bitcoin and the various cryptocurrencies that followed have been riddled with controversy from its beginnings in 2009. Despite the fact that Bitcoin has been widely criticized for its volatility, use in illicit transactions, and wasteful use of electricity to generate it, some individuals, particularly in developing nations, see it as a safe haven in times of economic turmoil.

However, as more people turn to cryptos as an investment or a lifeline, these issues have resulted in a wave of new regulations governing their use. Bitcoin’s and other altcoins’ (alternative currencies to Bitcoin) legal standing varies widely by jurisdiction, with some relationships still being established or changing often.

The following are some of the websites that have been blacklisted:

  • MbInvest and Nab Europe Limited (website www.mbinv.eu);
  • Wbi Invest (website www.wbiinvestltd.io and its pages https://client.wbiinvestltd.io and https://webtrader.wbiinvestltd.io);
  • 365investimenti and 365investments (websites https://365investimenti.com and www.365-investments.com);
  • Lakeshore Services Ou (website https://mtp.expert and its page https://my.mtp.expert);
  • Global X Trade (website https://globalx-trade.com and its page https://client.globalx-trade.com).

The Federal Trade Commission concluded in a new consumer protection research that social media sites, particularly Instagram and Facebook, have become the go-to spot for scammers to ply their trade. Investment-related fraud is the most common con on social media in terms of money lost, yet online retail scams account for the majority of reports. This article includes some of the blacklisted crypto brokers you need to be aware of and how they steal from you, and hopefully, once you are through with the article, you’ll be able to prevent yourselves from falling prey to these scammers.

In 2021, we witnessed a 50% year-over-year increase in crypto-related scams to over 500,000. And looking ahead we anticipate a more than 75% increase in 2022!

FTC Gov. Report 2021

If you are someone who’s interested in Cryptocurrency, then you’re definitely at the right place. We can give you the best practices in identifying red flags as well as help you in recovering your stolen money from scammers!

Table of Contents

CHAPTER 1: 0chain

business

0Chain is a cryptocurrency broker situated in the United Kingdom. The ZCN trademark was used for trading cryptos. It offers clients automated cryptocurrency mining and an eWallet. It is built on the Hyperledger and Ethereum blockchain platforms. There is no other information on its official website than the names of its founders, Saswata Basu and Tom Austin.

Such anonymity causes a great deal of fear. Trading platforms, tools, and educational resources are all important parts of the trading process. MetaTrader 4, MetaTrader 5, and a variant of the WebTrader platform are all available from most brokers. Some brokers exclusively offer their own platform, so be wary if this is the case. Clients of some scam brokers are restricted to their own platform, which may or may not be a platform at all. It’s important to remember that proprietary platforms are only as good as the brokers that create them. Many high-quality brokers’ proprietary platforms can give an exceptional trading experience.

Founders

0Chain is a cryptocurrency that was launched in 2017 but is not yet traded on any exchanges. Due to a Scam or Other Issues, 0Chain was added to the list of defunct coins. Saswata Basu is the company’s founder and CEO. Prior to that, Saswata was the CTO of GuruHub and worked at Energous Corporation as a cloud architect and developer. Prior to the above positions, he worked as a cloud consultant for TruePath Wireless. Tom Austin is an associate professor at San Jose State University and co-founder 0Chain. He was also a senior software developer at Knight Ridder Digital and an intern at Mozilla Corporation and ESIEA.

Further investigation revealed that both of 0Chain’s founders are U.S. citizens who live in California. Unfortunately, this information is not available on the official website of 0Chain. 0Chain was founded in 2017 and is still very new. The official website also includes a 0Chain road map and mentions a partnership with companies like Alphabet and others. However, there is no information on how or why they connected to 0Chain.

social media

Services

We know who the founder of 0Chain is, but we have no idea where this broker is based. The broker promises to be able to hold and protect cryptocurrencies on a decentralized network. It also claims GDPR/CCPA compliance, as well as increased transparency and zero liability. It also offers a cloud storage service known as 0Box and an eWallet known as 0Wallet. Crypto traders can deposit their coins in the offered wallet and receive a greater interest rate. The conversion ratio of ZCN is $0.123193. It also has a high Return on Investment (ROI) of more than 75%. ZCN coins have a total supply of 20,000,00000, but only 4,01,17,166 are in circulation.

Legality

The whitepaper of 0Chain illuminates various technical aspects of the services it offers; however, it is devoid of any legal registration information. It invariably signifies that 0Chain wishes to conceal its genuine nature behind technological promises that are meaningless to traders. In trading, the importance of legality and ingenuity is paramount. This broker does not follow the rules. 0Chain has also been reported as a fraud on various discussion forums and scam-resolving communities.

auto loan

Evaluation

According to the most recent bitcoin 0Chain evaluation, the company is operating illegally, and without a necessary financial regulatory authorization, and as a result, it has been marked as a possible crypto fraud. Scams involving cryptocurrency 0chain coins are on the rise as the popularity of digital currencies grows. Following the debut of digital currency just over a decade ago, 0chain coin scams have become a terrible reality. 0chain was created as a decentralized alternative to traditional banking, but the capacity to freely transact globally without relying on a centralized system provided an opportunity for criminals to take advantage of the new technology.

Experts can’t stress enough how crucial licensing is when determining whether or not to utilize a broker. It is a fundamental guideline to never join up with an unregulated broker. Working with an unlicensed broker provides no protection in the event of broker fraud. Although the lack of a license is not a guarantee that a broker is deceptive, it is one of the most common factors we find when investigating broker fraud. There is no reason to trust an unregulated broker if they do not have a license.

Offshore regulators in the third and fourth-tiers have fairly lenient criteria and do not need substantial capitalization from licensees. Simply put, even a lousy broker can obtain a license from some place. Thus a lack of one is a red flag. Since we indicated that third- and fourth-tier regulators have minimum criteria and are not as stringent about oversight and inspection, it’s worth thinking about what kind of license a regulated broker has. The higher the tier regulator, the more accountable the broker is, and the more easily broker complaints may be handled. The regulator serves as quality control for brokers, and without it, they can get away with questionable conduct.

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Verdict

0Chain is an online bitcoin blockchain and eWallet service situated in the United Kingdom. It does not specify where it operates on its website or in its white paper. The broker claims to be affiliated with major corporations but fails to provide any substantial evidence that 0Chain has been criticized for being a fraud on numerous sites. There was also no legal registration to be located. 0Chain, in our opinion, is a possible bitcoin fraud broker. Staying away from 0Chain is recommended for the safety and security of trader funds.

CHAPTER 2: Adrenaline Coin

Adrenaline A.I. is a cutting-edge fintech firm that specializes in developing cryptocurrency trading A.I. robots. Kevin Tuohy is the President and Owner of Adrenaline Challenge Coins, which is situated in the United States.

Founder

In accordance with Kevin Tuohy’s LinkedIn bio, he has served in the United States Air Force and the West Valley City (Utah) fire department before settling into a full career with Orange County (California) Fire, where he is currently a captain. He was introduced to the rich tradition of the challenge coin during that time. I’m also the president of Adrenaline Challenge Coins, which can be found at (www.AdrenalineChallengeCoins.com.)

They’ve designed challenge coins for every branch of the United States military, as well as military units, fire and police agencies, and a variety of other groups and organizations around the world. According to Kevin Tuohy’s LinkedIn bio, they’ve also been chosen as the official challenge coin of the World Firefighters Games and the World Police & Fire Games.

payday

Services

Adrenaline Coin, like many renowned brokers, offers a variety of account kinds to suit the demands of different sorts of traders, from beginners to pros. The Vanuatu Financial Services Commission regulates the broker, which offers investors a comprehensive trading environment that includes amazing assets, platforms, trading options, and market options that may please a wide range of traders, from novices to specialists. Need.

Adrenaline Coin, unlike binary brokers, offers a somewhat different online trading approach. Potential investors can also open a free demo account to test the Adrenaline Coin trading platform before making a final decision.

Legality

Unregulated brokers have difficulty being untrustworthy and breaking the rules. When a broker gets your money, he can do whatever he wants as long as it’s not against the law. Traders should only trade with trustworthy brokers who are well-regulated, such as those in the United Kingdom or Australia. Adrenaline is a cryptocurrency that was created in 2018 and did not trade on any exchanges. Due to Scams or Other Issues, Adrenaline was added to the list of dead coins. Wishmaster Eric is the company’s founder and CEO.

mortgage

Evaluation

Traders that are interested in working with Adrenaline Coin should research the Adrenaline Coin concerns that other traders and investors have had. Some traders have reported that if they switch brokers, the Adrenaline Coin broker charges them a hefty commission. Investors have complained that Adrenaline Coin has refused to refund their money.

Some investors have expressed dissatisfaction, claiming that despite making payments, their loans have not progressed and that no mortgage specialist has stepped forward to assist them in resolving their issues. Some investors have reported that after multiple tries, they are unable to contact the company’s support personnel. They claim that no response is received from them when they try to contact them via email or by visiting their website.

This isn’t a promising sign. ‘ Investors have complained about being unable to transfer money from their Adrenaline Coin account to their bank account before withdrawing their funds. It’s also crucial for traders to recognize whether it’s real or not. As a result, they wind up losing all of their hard-earned cash. Another clue that someone is dishonest or attempting to overcharge you for their services is this. Some traders have stated that Adrenaline Coin has issued a number of disclaimers that are both false and misleading.

This signifies that the company’s website has no disclaimers at all. Traders have expressed their dissatisfaction with the website’s authenticity. This is one of the most serious complaints, and it should be addressed right away. Some traders claim that Adrenaline Coin has never been able to help them and that trusting such a broker is pointless.

Some brokers specialize in one area, such as foreign exchange, while others offer a wide range of trading items. Many high-quality brokers’ proprietary systems can give an exceptional trading experience. If, on the other hand, the broker no longer provides communication methods such as email, phone, SMS, and chat, and there is a support team that does not appear to understand the transaction or avoids asking certain questions, this could be a sign that the broker is a scam or at the very least a low-quality broker.

During our first research on the broker, we came across a slew of Adrenaline Coin reviews complaining about how bad the customer service was after the initial withdrawal.

calcu and money

Verdict

The company must follow all of the FCA’s rules and regulations. This means they can’t charge outrageous brokerage fees, and they can’t charge customers to obtain a loan approved by them. The broker is observed breaking the authorities’ norms and regulations. Due to their regulatory position and dubious terms of service, Adrenaline Coin was found to be operating under questionable and unethical conditions.

Users are advised not to deal with this company and, if they have already done so, to contact them immediately to cash out their monies. If you’ve had any of the following experiences with Adrenaline Coin, you’ve most certainly been duped or are a victim of a scam. As a first step toward reclaiming your funds, we propose filing a complaint and reporting a scam against Adrenaline Coin.

You may read all of the Adrenaline Coin complaints that other people have made, as well as find out more about competing broker services and their performance. Broker complaints might be frightening because brokers have been found guilty of defrauding billions of dollars.

Make the proper move to avoid scam brokers like these. Are there any pending complaints against your broker? What exactly are these broker grievances about? What exactly are the complaints about? If you don’t want to wind up with a non-serious broker in the market, you need to be aware of broker complaints. Knowing the nature of your broker’s complaints might help you determine whether he’s having a bad day or if the complaints are legitimate. Purchasing an asset is not a decision to be made lightly.

LOAN

As a result, it is critical that you select the correct broker to conduct your trade activities. There will be several complaints and concerns because this broker is not well-known. If Adrenaline Coin is a no-withdrawal broker, there is most certainly a license issue. The network has received reports of difficulties withdrawing funds from Adrenaline Coin. If withdrawals are necessary without trading, traders may have to pay a fee of up to 2.6 percent.

The usual foreign exchange minimum deposit is $250. However, many other unregulated brokers require lower sums. The Adrenaline Coin hoax has no effect on these deposit fees. What’s worse, the bronze account’s minimum deposit permits you to access additional services from more reputable and licensed foreign exchange brokers. These account options look appealing, but Adrenaline Coin trading is a complete rip-off.

A number of unlicensed brokers, such as Adrenaline Coin, have been accused of defrauding customers. Some fraudulent brokers limit clients to their own platform, which may or may not be a genuine platform. While these platforms would be useful in the hands of other brokers, Adrenaline Coin engages in unlawful trading, and traders have difficulty withdrawing cash. It’s possible that you won’t be able to tell right away whether Adrenaline Coin is the type that won’t let you withdraw money once you’ve opened an account and made money.

When you seek a withdrawal, Adrenaline Coin may try to force you to execute another transaction if it wants to hold your money. They may even claim that some withdrawal costs are required by local taxes. Funds are not safe with them due to a lack of knowledge and an uncontrolled Adrenaline Coin.

dollar on fire

CHAPTER 3: Airbon

According to Airbon’s LinkedIn profile, it is a cryptocurrency trading platform that provides a cutting-edge, high-tech hybrid platform. Airbon was founded in 2018. It states that, unlike most exchanges, Airbon is uniquely positioned in the blockchain market by delivering four modules under a single platform to provide a wide range of services to its consumers. Let’s further look into these claims and see just how reliable they are.

Services

Airbon, like the majority of brokers in the business, offers the popular MetaTrader 4 platform. Airbon WebTrader software provides a handy platform from which investors can access the market without loading memory-intensive software for those traders who wish to check their accounts anytime, anyplace. Many high-quality brokers’ proprietary systems can give an exceptional trading experience. When examining a broker’s case, call customer service, but keep in mind that even rogue brokers will appear polite and helpful at first, only to reveal their true colors later.

Legality

These account options may appear appealing. However, trading on Airbon is a complete rip-off. Many dishonest brokers, for example, charge high withdrawal costs that do not just cover service fees. You are unable to withdraw funds from your account. These are some of the red flags that a broker is in difficulty with. Traders should only trade with trustworthy brokers who are well-regulated, such as those in the United Kingdom or Australia.

All investors and traders should stay away from Airbon and other Vanuatu brokers. We do not advise dealing with Airbon since this broker has been linked to fraud. The FCA urges U.K. investors not to invest with this broker in general. The Forex broker, on the other hand, does not have the necessary FCA license to do so. The VFSC has granted the Forex broker a license, but this is insufficient to sell financial services or products in the United Kingdom or Europe.

Unregulated brokers have difficulty being untrustworthy and breaking the rules. Some dishonest brokers will be aggressive with customers, encouraging them to engage in particular trades. Many unlicensed brokers (such as Airbon), according to reports, defraud people.

Pay Debt

Evaluation

Before completing an online purchase, the majority of customers will read a review. It is possibly even more critical to conduct thorough background checks on brokers before engaging their services. When you sign a contract with a broker and deposit money to trade with them, you are putting your trust in them. Sign up with a broker only if you are confident that this level of trust is warranted. There are some areas that are critical, such as laws and fees, and others, such as education and tools, that customers may be willing to compromise on.

You can make your own decision, but keep in mind that the first two categories are the most significant when it comes to avoiding broker scams. Traders that are interested in dealing with Airbon should research the Airbon complaints made by other traders and investors. Some traders have reported that if they switch brokers, the Airbon broker charges them a hefty commission.

There have also been reports that Airbon has refused to reimburse money to investors. Some investors have expressed dissatisfaction, claiming that despite making payments, their loans have not progressed and that no mortgage specialist has stepped forward to assist them in resolving their issues. Some investors have complained that after multiple attempts, they are unable to access the company’s support team. They claim that no response is received from them when they try to contact them via email or by visiting their website. This isn’t a promising sign.

Investors have complained about being unable to transfer money from their Airbon account to their bank account before withdrawing their funds. It’s also crucial for traders to recognize whether it’s real or not. As a result, they wind up losing all of their hard-earned cash. The primary issue encountered while browsing Airbon was that the broker did not offer his physical address in the contact area.

However, if the broker no longer provides contact channels such as email, phone, text messaging, and chat and has a support crew that does not appear to comprehend the trade or is evasively asking specific questions, this could be a symptom of a fraud or a low-quality broker. During our preliminary research on this broker, we came across a slew of Airbon reviews complaining about bad customer assistance after the initial deposit. While these platforms might be beneficial in the hands of other brokers, Airbon engages in unlawful trading, and traders have difficulty withdrawing funds.

You can also get your money back from Airbon by contacting one of the fund recovery companies on our list. You can use a chatbot to contact us if you have lost money in the Airbon scam. Some brokers specialize in one area, such as foreign exchange, while others offer a wide range of trading items. We talked about trading products like stocks, commodities, ETFs, foreign currency, options, CFDs, bonds, indices, and cryptocurrencies in our broker review.

counting dollars

The broker’s trading interface should be simple to use and intuitive enough for traders to rapidly access their accounts and trade. To assist consumers with daily transactions, the trading platform should be highly easy and user-friendly. A sophisticated trading platform with comprehensive analytical tools and the most up-to-date foreign exchange technology is required of the broker. A good broker should not only be regulated but also have a solid reputation, good trading conditions, and good customer service.

Clearly, Airbon accomplished none of the above and cannot even be considered a broker but rather a foreign exchange market con. Airbon conceals the majority of the trading terms, which creates suspicion. In conclusion, regardless of Airbon’s trading circumstances, we do not advocate dealing with it because it is unregulated and could be a hoax. He has the ability to inflict significant losses on his consumers. Hence we believe he is a possible liar.

Verdict

Due to their regulatory status and strange terms of service, Airbon was found to be operating under dubious and unethical practices. Users are advised not to deal with this company and, if they have already done so, to contact them immediately to cash out their monies. If you’ve had bad luck with Airbon, you’ve most certainly been duped or are a victim of fraud.

As a first step in reclaiming your payments, we recommend filing a complaint and reporting a scam against Airbon. Regardless of Airbon’s trading rules, we do not advocate dealing with it because it is unregulated and likely to be a scam. He has the ability to cause significant losses to his clients, and, as a result, we believe he is a possible fraudster. This is to prevent them from withdrawing their funds if they are con artists.

Don’t think Airbon is legitimate just because you were welcomed by a polite chatbot when you first arrived on the website or because the broker paid you a lot of attention in the first few weeks.  This is not to say that you should be disheartened; trading can be secure and reliable in many circumstances, but only if you choose the correct broker. A good broker should be regulated as well as have a solid reputation, decent trading conditions, and outstanding customer service.Funds are not safe because of a lack of knowledge and uncontrolled Airbon.

This is why, before opening an account, sending money, or submitting any papers, you should read more about Airbon. The information provided above is insufficient to begin trading with Airbon. Another item that is absent from the Airbon support page is a list of numerous distinct Airbon personnel, which many other brokers, especially scammers, do not provide.

contact signing

CHAPTER 4: AlZeus

Zeus is a blockchain platform designed specifically for apps with millions of users. A blockchain designed for mass-market B2C and peer-to-peer (P2P) applications with millions of end-users. The features were created with the end-user in mind. AlZeus is a blockchain created by consumer app experts for consumer apps. AlZeus is designed to be a one-stop shop for mass-market consumer apps.

If you invested in a new cryptocurrency and found that you were scammed, then reach out to us to help your recover your money.

Founders

Zeus was founded by Joseph Rubin and Rohit Mali. Joseph is a mechanical engineer turned inventor and entrepreneur from the United States. He is a USF graduate and former research scientist who is currently focused on the development of user-friendly bitcoin solutions. The Rubius protocol and the Aryl app were created by Joseph, who is also the principal developer. Rohit, on the other hand, is the CEO of Ftechiz Solutions’ Pool Stack Development.

real state

Evaluation

The rapidly changing nature of the cryptocurrency market today, as well as the type of impact it will have on the future of business, elicit a lot of similar feelings. As individual investors, speculators, and other sorts of institutional investors shift their focus to the lucrative cryptocurrency markets, scammers and cheats turn their attention to them as well. According to the Federal Trade Commission’s Consumer Sentinel, from October 2020 to March 31, 2021, approximately 7,000 people reported losses totaling more than $80 million in crypto-related frauds.

These data represent a 12-fold increase in reports over the same period last year, as well as a roughly 1,000 percent increase in reported losses.  As part of a ‘Short and Distort’ plan, an unknown and fictitious business known as ‘Zeus Capital’ wrote and extensively promoted a hit article on Chain Link.

The scheme is motivated by greed and is based on a misinformation campaign, false claims, and easily refutable lies regarding the Chainlink network, the LINK currency, and the SmartContract team. Instead of risking their reputation by making outrageous claims, they are attempting to make a quick and dirty profit by hiding behind anonymity and using disinformation to emotionally manipulate LINK token owners into selling their holdings and betting against one of the most widely adopted blockchain technologies.

Malicious short-sellers have a tremendous motivation to distort the truth and control the narrative by creating fear, uncertainty, and doubt in order to push the asset’s price down (FUD). This can sometimes include purposefully disseminating false information about a project or company in order to persuade others to sell their assets and go short as well. Short-term and deceptive plans can include a variety of activities, including producing and publishing misleading articles, lying, and paying for fraudulent advertisements, among others.

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Verdict

The lack of data available on this particular platform further reinstates just how unreliable this organization is. In many of the blacklisted companies list, AlZeus has been spotted within the recently updated list of 2022 by the scam news channel. Hence, it can be established that AlZeus operates illegally without any regulatory authority, and therefore, if you have invested with them and as of yet have not been robbed of your possessions, this is your queue to exit and break any ties with this platform.

CHAPTER 5: Airfio

The major goal of this organization is to allegedly employ blockchain technology to facilitate Cryptocurrency transactions. In addition, they intend to incorporate machine learning capabilities into their network. There’s a lot going on here, according to the rumors. They also offer Visa cards, a mining app, an SDK for developers, a decentralized exchange, and many other services in addition to ARF coin. All of the platforms/functions stated above, according to the website, are built using A.I. technology.

We have no way of knowing how accurate this is. Even if this were true, we don’t understand why an A.I. would be necessary for this situation. According to Airfio, this is the first time that blockchain and A.I. technologies have been combined. In accordance with coinopsy.com, Airfio is a cryptocurrency that was launched in 2017 and did not trade on any exchanges. Due to Scams or Other Issues, Airfio has been added to the list of dead coins. The name of the company’s founder and CEO is unknown.

house purchase

Services

Airfio claimed to seek to alter the world of cryptocurrency banking and fintech. It intended to accomplish this by combining neural networks with blockchain technologies. This is designed to improve the interface’s security and smoothness of operation. Airfio also claimed to have a long-term strategy.

However, the majority of their short-term objectives (such as putting ATMs in seven countries around the world) were expected to be met by 2020. The idea is that Airfio was supposedly created to use blockchain technology to streamline banking operations. They were meant to make it easier to transfer money, issue debit cards, and do a lot more. This website also claims to have created its own “universal” Crypto bank facility. This bank is anonymous since it uses blockchain technology.

Your account number should be the only thing that stays the same. Airfio also claimed to have a smart wallet that enables quick, secure, and anonymous peer-to-peer transfers. This wallet, too, was said to be AI-enabled and to contain a slew of cutting-edge capabilities. These functions were intended to benefit the user in some way. One of the features mentioned by Airfio is the ability to generate up to ten addresses in one wallet. Additionally, Airfio customers could utilize a customized Visa Card that has been designed to synchronize the platform’s services with those of a standard ATM. As long as the outlet accepts Visa cards, the Visa card can be used anywhere in the world.

While this website refers to it as a Visa card, we can easily see that it is a MasterCard because there is a MasterCard logo instead. We’re not sure what’s causing the confusion. Because of the misunderstanding, it’s unclear which network this card would use.

online future

Legality

One of the worst things that can happen to a trader is to wake up one day and discover that they are unable to access their account. When users attempt to log in but are denied, this is a regular scenario. They can attempt again and again, but they will not be given the option to reset their password or locate the login page. People begin to suspect that something is wrong when the website goes down, and they are unable to log on.

They may contact customer service and receive no response, or they may send emails that go unanswered. This seems like something out of a horror movie, but it happens all the time. Unfortunately, brokers are disappearing at an increasing rate. If you can’t log in to Airfio, it’s not necessarily a symptom of a scam.

Every website has technical issues now and then, but if the site doesn’t offer a way to log in, it’s a good sign that you’ve been the victim of a scam. We looked into Airfio login concerns and evaluated this broker’s service. Airfio login has been the subject of a brief intelligence report by our specialists. You’ll just have to type in your username and password again and over, and nothing will happen.

You might think it’s a technical issue and try again later, only to get the same outcome. A notice may appear stating that the site is unavailable due to technical difficulties. However, days, if not weeks, pass, and the Airfio login continues to deny access to your account. You can be confident that Airfio is a fraud at this point, although they may have absconded with your dollars by this point.

danger ponzi

Evaluation

If Airfio is a no-withdrawal broker, there is most certainly a license issue. Working with an unauthorized broker provides no protection against broker fraud. When a broker gets your money, he can do whatever he wants as long as it’s not against the law. Although a money recovery expert can assist you in recovering your assets, it is always a good idea to conduct preliminary research on a broker.

You can earn money with a broker, or at least seem to make money with a broker, but that isn’t enough. The broker begins to cause issues, and you begin to believe you are losing money. When exploring Airfio, the biggest issue was that the broker’s physical address was not listed in the contact section. There are no predicted spreads, and calculating the cost of trading with this broker is difficult. Furthermore, any broker with whom you work must be licensed.

A broker who is either not regulated at all or has a license from a low-quality regulator is the most prevalent symptom of a broker scam or a forex trading fraud.  Any Airfio review will not only tell you whether or not the broker is licensed, but it will also tell you about the regulator and whether or not the license is a top-tier one. Examine the license’s quality as well. It’s possible that the broker once held a top-tier license but has since lost it.

Ensure that all information is up to date. When financial businesses with good licenses develop frauds, it’s usually because their licenses have been revoked and they’ve been delisted. They presume that potential clients will not explore deeper to find out this information. An excellent Airfio review is a thorough investigation that includes current facts.

The next step is to look into various account types. Most brokers will have different types of accounts depending on how much money is transacted. They are also likely to provide benefits to high-volume traders, such as decreased commissions or spreads. Many will provide practice accounts to allow new traders to learn the ropes of trading while also allowing seasoned traders to test out their platform. Policies, such as account minimums, all costs linked with accounts, and any specific restrictions governing withdrawals and deposits, should be clearly disclosed on the site or in the terms and conditions. X withdrawal symptoms should be taken seriously. The restriction of clients’ access to their money is a common hallmark of fraud.

goodbye

Verdict

Airfio has the ability to cause significant losses to his clients and, as a result, is a probable fraudster in our perspective. This element, on the other hand, demands special attention because it is frequently a target for brokerage frauds. Many dishonest brokers, for example, charge high withdrawal costs that do not just cover service fees. Unfortunately, many non-withdrawal brokers hide behind these arguments to give the idea that they are not con artists.

Several users have stated that they have been asked to pay expensive taxes/fees, that they have been inattentive to withdrawal requests, or that they have been flatly refused withdrawals. Traders should only trade with trustworthy brokers who are well-regulated, such as those in the United Kingdom or Australia. All investors and traders should stay away from Airfio and other Vanuatu brokers. We do not advocate trading with Airfio since it has been linked to fraud. The FCA recommends U.K. investors not do so in general.

CHAPTER 6: Bimcoin

This broker, which is regulated by the Vanuatu Financial Services Commission, provides investors with a complete trading environment that includes an incredible assortment of assets, platforms, trading options, and markets to fulfill the demands of all sorts of traders, from beginners to experts. Bimcoin, like many reputable brokers, offers a variety of account kinds to satisfy the demands of different types of traders, from beginners to experts. These account alternatives might entice you.

Legality

In certain Forex trading scams, the fraudulent broker will only provide their own platform, which may or may not be genuine. Don’t think Bimcoin is legal just because you were greeted by a polite chatbot when you first went to the website or because the broker paid you a lot of attention in the first few weeks. No one can control the market, and therefore if a broker offers certain returns, you are most likely dealing with a swindler. It is advised not to follow the broker if there is evidence that the broker is a fraud.

A broker may offer transactions if you sign up fast, or they may tell you that if you don’t register an account right away, the possibility to make a lot of money will vanish in a day or two. This method is a red flag for broker fraud. Potential traders will benefit from the advice of a trustworthy broker. If you want to trade foreign exchange, cryptocurrency, CFDs, or commodities, paying close attention to the broker you use can help you avoid broker fraud and avoid broker withdrawal troubles.

DO YOU SUSPECT THAT SOMEONE HAD SCAMMED YOU?

If you have suspicions of a scam or phishing attack, you can rely on experts to help you with protection, mitigation, and fund recovery. You will feel safe knowing that experts with years of experience will be guiding you!

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Evaluation

We investigated Bimcoin login issues and put this brokerage service to the test. If you’re experiencing problems logging into Bimcoin, it’s possible you’ve fallen victim to a broker scam. If you lose money in the Bimcoin scam, you can contact experts through various fund recovery platforms. If you’re having trouble withdrawing money from Bimcoin, please let Bimcoin know. If you follow these procedures, however, you can prevent Bimcoin scam and withdrawal issues. It’s possible that you won’t be able to tell right away whether Bimcoin is the type that won’t let you withdraw money after you’ve opened an account and made money.

If you want to trade foreign exchange, cryptocurrency, CFDs, or commodities, paying close attention to the broker you use can help you avoid broker fraud and avoid broker withdrawal troubles. Bimcoin provides a variety of account kinds to meet the demands of different sorts of traders, ranging from beginners to experts.

These account options may appear appealing. However, trading on Bimcoin is a complete rip-off. If Bimcoin charges fees for withdrawals, deposits, or inactive accounts, make sure that these costs are compliant with industry standards. If Bimcoin is a no-withdrawal broker, its license will most certainly be revoked. Unfortunately, many non-withdrawal brokers hide behind these arguments to give the idea that they are not con artists. Many dishonest brokers, for example, charge high withdrawal costs that do not just cover service fees.

Fees usually serve as a deterrent, such as downtime fees that encourage traders to be active or service fees that reimburse the broker for extra effort, such as withdrawals using a payment method that the broker does not frequently utilize. Poor-quality brokers will rely on commissions and make withdrawing funds difficult. Some dishonest brokers will be pushy with their customers, encouraging them to make particular trades. Working with an unauthorized broker provides no protection against broker fraud. 

However, if the broker no longer provides contact channels such as email, phone, text messaging, and chat and has a support crew that does not appear to comprehend the trade or is evasively asking specific questions, this could be a symptom of a fraud or a low-quality broker. In certain Forex trading scams, the fraudulent broker will only provide their own platform, which may or may not be genuine. Don’t think Bimcoin is legal just because you were greeted by a polite chatbot when you first went to the website or because the broker paid you a lot of attention in the first few weeks.

Obviously, you earn from certain deals but wait till you try to withdraw money. Bimcoin may try to force you to execute another transaction when you request a withdrawal if it wants to hold your funds. This is to keep people from withdrawing money if they are a victim of fraud. Make sure that whatever trading items you find in the Bimcoin reviews have gotten authority to trade the products they offer. If they just offer their proprietary platform and no other solutions, be extremely cautious when reading this Bimcoin evaluation.

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Verdict

Bimcoin is a rip-off. Broker terminations and difficulties entering into Bimcoin have been a typical occurrence for many years, and it is growing more widespread with the development of financial fraud. During our early research on this broker, we came across a slew of Bimcoin reviews complaining about bad customer assistance following the initial withdrawal.

Bimcoin is nothing but a rip-off. While these platforms might be beneficial in the hands of other brokers, Bimcoin engaged in unlawful trading, and traders have difficulty withdrawing cash. Bimcoin and other Vanuatu brokers should be avoided by all investors and traders. Make sure that any trading items you come across in your Bimcoin study are licensed to trade the products they offer.

In certain Forex trading scams, the fraudulent broker will only provide their own platform, which may or may not be genuine. Because a broker with a strong reputation in the mainstream media will have a better reputation in the trading and investment community, it is critical to understand the reputation of Bimcoin news.

A good broker should be regulated as well as have a solid reputation, decent trading conditions, and outstanding customer service. The most prevalent symptom of a Forex trading or broker scam is that the broker is either unregulated or has a low-quality regulatory license.

CHAPTER 7: Bytecoin

Bytecoin is a private, decentralized digital currency with free software code that allows anybody to participate in the development of the Bytecoin network. Bytecoin is an alternative for individuals who wish to keep their finances private because it promotes privacy and security. With Bytecoin, users can create a large number of unlinkable one-time addresses with a single set of keys.

This makes establishing a link between transactions or addresses virtually impossible. Every block, Bytecoin modifies the difficulty to respond to even the smallest hashrate fluctuations. Ring signatures are used by Bytecoin to combine multiple outputs of identical value into a single transaction, making it nearly impossible to figure out where the money came from. All addresses on the Bytecoin blockchain are hidden.

Services

For Windows, Mac, and Linux, the Bytecoin Desktop Software, as well as the bytecoin. One web wallet, bytecoin. One Android app and the Bytecoin daemon software for partners and integrators are all available. GitHub’s open-source repositories, Multiple partners, merchants, integrators, and mining pools make up an ecosystem. The Bytecoin Team’s latest developments are available on the Bytecoin Blog. On Reddit, Bitcointalk, Twitter, and Telegram, the Bytecoin community is active.

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Legality

On the bytecoin community’s page, the bare minimum may be found, indicating that they are not interested in revealing their name. Also, we have serious doubts about how many of the mentioned faces and names are real, as I couldn’t locate any specifics about Jayson when I looked for more information (developer).

Furthermore, when the Bytecoin team has been accused of such things, their reactions have been non-existent, and this kind of behavior verifies their aims. As a result, it can be established. Bytecois is both a dubious project and a team of developers who are completely inept. Finally, with so many wonderful projects to invest in in the cryptosphere, why waste your time on a coin you’re not convinced about?

Evaluation

Bytecoin has a massive quantity of 184.47 billion BCN coins with a block time of 120 seconds, compared to 10 minutes for Bitcoin. Bytecoin, unlike Bitcoin, has a dubious mining background. Bytecoin is said to have done 82 percent pre-mining of BCN coins prior to the public debut. Bytecoin was published on Binance, the world’s largest crypto exchange, on May 8, 2018, and its price soared more than 30 times in just 24 hours.

The trade volume also surpassed 600 million dollars, which was an all-time high. Due to the rise, big exchanges such as Binance and Poloniex halted deposits and withdrawals, leaving investors with bags of BCN they couldn’t sell. The prices took almost a day to return to normal, but by that time, the investors who sought to catch the BCN train had been Rekt.

We, as well as other organizations, have documented some of the agony associated with Bytecoin on several occasions. After being kicked off of Binance and a number of other major cryptocurrency exchanges, a few team members still pop up every now and then to promise a “new plan” before disappearing into the Bytecoin ether.

The coin’s price spiked as a result of the major exchange’s listing, causing its market cap to exceed $3 billion, resulting in an individual coin soaring to $0.018, all before the mistakes and suffering began. The supposedly ‘secret and untraceable’ Bytecoin network was evidently unprepared to handle the influx of investor interest, resulting in a network meltdown with no explanation provided to the community or its investors right after the spike occurred. During this moment, no one was able to withdraw or transfer their BCN tokens, causing panic.

Shortly after that, the price began to plummet, causing concern among investors. Several claims that the Bytecoin crew is engaged in a traditional pump and dump scam began to fly, and they only flew in a few directions. Before the Binance listing, the price was locked at around 50 sats, then exploded to 200 sats before the funds were frozen, which is a common pattern for a PnD coin. As a result of this network issue, which was later validated by Binance and CoinMarketCap, the early worries that BCN developers were engaged in a pump-and-dump scheme on its investors were unfounded.

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In the current state of affairs, the coin has never recovered from its initial panic. Since then, the price has plummeted to roughly 40 Satoshi and has essentially been flatlined there until recent market movements purportedly put it back into the green. Even after its most recent run, the coin has sunk significantly, confirming the underlying worries of manipulation.

So, for the time being, the few Bytecoin holders who still believe it is still “the father of Monero” have little reason to be happy about being investors in this coin and will likely have even less reason in the future. The fact that Bytecoin has been on the market for so long, and yet there is so little information about the development team and its individual members is even more troubling. Even on the currency’s official website, there are only a few images and initial names but no other specific information.

Verdict

One of the BCN users provided a reasonable explanation for what happened to Bytecoin and where the devs and core team members are: “The devs left the ship, did not you notice? the last move they made was to list in binance, send their bcn there, disable all bytecoin portfolios with a DDOS (the Bytecoin wallet allows a DDOS attack that leaves the network dead if there is almost no hashpower), and while everyone was trying to resuscitate the portfolios they culminated one of the biggest scams of cyptomundo, they sold all their coins, and now they do not need to say anything, they have achieved their goal, do not you see?”

Before the issues occurred, the top exchange listing prompted the price of this currency to surge to $0.018, and its market valuation to exceed $3 billion. Bytecoin, which bills itself as “private and untraceable,” appears to have been unprepared for such a surge in investor interest, as the network “crashed” without explanation shortly after the price increase.

The panic set in when no one could withdraw or transfer their BCN tokens. Most exchanges have delisted Bytecoin at the moment, pending the results of multiple investigations. Bytecoin is controlled by a dishonest team whose purpose is most likely to maximize their personal profits by duping individuals like you into purchasing the BCN token. Bytecoin can be regarded as a fraud, not in the liberal sense that is frequently used here, but in the traditional sense.

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CHAPTER 8: Capital Expanse

In accordance with Capital Expanse’s LinkedIn about us section, “Expanse Capital was established and registered in Latvia in 2018 (with a representative office in Moscow). The founders of the company have over 25 years of combined experience in the venture capital industry, bringing tech startups to the European, U.S., and Asia markets. We operate as a BOUTIQUE START-UP ACCELERATOR, which allows us to focus closely on the objectives of each of our clients.

Our extensive network of partnerships in the field of venture capital investment and business development allows us to find the best solutions for each of our clients. At Expanse Capital, we focus on building individual growth trajectories that are tailored to the unique challenges faced by the selected DeepTech startups, working one-on-one to achieve optimal results.”

The domain name capitalexpanse.net was registered on September 22, 2017. On the website, there is no information regarding who owns the company. If a corporation deals in money in any way and hides its name, it’s a red flag. Although Capital Expanse does not sell retail products, it does allow members to affiliate with them and promote their membership. They promised to have facilities for financing, mining, stake, and trading. Referral commissions are paid by the broker, and membership is granted solely on the basis of recommendations, which is an indication of a Ponzi scheme. The broker also claims that a trading script generates a return on investment. However, there is no evidence of this script on their website.

piggy bank cfd

Services

CapitalExpanse and its CapX currency are reported to be working to establish an innovative system that would help you reach your passive income goals in a private and safe manner. A platform has been created with many entry points in order to generate varied daily interest rates that can be paid out of arbitrage trading earnings. Daily interest is meant to start accruing 24 hours after you deposit your money, and there is no deposit limit.

According to reports, you will be given a daily interest payment based on the initial USD value of the investment and cumulatively on any subsequent re-investments. CapitalExpanse claims to have worked hard to understand and address the issues that other platforms and systems have had in the past. Following that, it is claimed that at the end of your loan time, you will receive the same amount of CapX coins that you originally spent, allowing you to benefit from their increasing value. Let’s investigate these allegations to see if they’re true.

Legality

Capital Expanse is a cryptocurrency that was launched in 2018 but did not trade on any exchanges. Due to Scams or Other Issues, Capital Expanse was added to the list of dead coins. The unknown is the name of the company’s founder and CEO. According to the most recent bitcoin Capital Expanse review, the company is operating illegally and without a valid financial regulatory authorization. Trading can be a lucrative method to supplement your income. Unfortunately, if you’re not careful, it might also lead to the loss of your savings.

This is not meant to discourage you–trading may be safe and reliable in many circumstances, but only if you use the correct broker. This involves avoiding flashy language and empty promises of huge profits and sticking with brokers that have a good track record. This is why it’s crucial to learn more about Capital Expanse before establishing an account or sending money or documents. Before you submit your hard-earned money to Capital Expanse, read our analysis.

WORRIED THAT SOMEONE HAS YOUR PERSONAL & BUSINESS INFORMATION?

With how easy it is for scammers to acquire your data, it’s reasonable to be alarmed. Protect yourself and your loved ones by getting advice from experts. We will guide and even help you get your money back from scammers.

Evaluation

Capital Expanse currency has been highlighted as a potential crypto fraud since it is operating without a proper regulatory financial license. Scams involving the cryptocurrency Capital Expanse coin are on the rise as the use of digital currencies grows. Scams with Capital Expanse coins have become a sad reality since the debut of digital currency just over a decade ago. Capital Expanse was created as a decentralized alternative to traditional banking, but the capacity to freely transact globally without relying on a centralized institution provided an opportunity for criminals to take advantage of the new technology.

Traditional financial systems have a limitless variety of frauds, yet victims in most cases have some remedy through the traditional banking system. Cryptocurrencies, on the other hand, are not like that. Victims are left with the painful loss of their digital possessions with no assistance or insurance coverage in place. Capital Expanse is a mysterious brokerage firm that refuses to show any proof of trade or how they make money. Capital Expanse has its own currency, known as CapX, that is useless outside of the corporation. The broker’s only source of income is through recommendations of freshly invested monies. Capital Expanse is a Ponzi scheme because it uses freshly invested funds to give existing clients a daily return. 

Scamadviser.com has also alerted customers about the following unfavorable aspects of the broker: 

  • The website’s owner is utilizing a paid service to conceal his identity.
  • The website’s speed performance is poor.
  • On Web of Trust, there were no reviews (WOT).
  • The address is hidden behind a P.O. Box.
  • The setup involves three countries.

Working with an unregulated broker is never a good choice. This is because there is no reason why a broker should not have some sort of licensing. It is not a smart idea to join up with a broker who has a low-tier license because they have inadequate qualifications and control. Even in these situations, the broker believed it was vital to obtain a license. Those who have no license at all try to get away with doing things without being watched by a regulator.

Working with a broker who has a license from a regulator that is not in the top two categories is likewise not a good idea. The lower-level regulator does not conduct thorough examinations of those it licenses and does not participate in effective oversight or resolution of consumer complaints. As a result, it can be virtually as bad as dealing with an unlicensed broker. Examine Capital Expanse’s license to check it is current and issued by a reputable regulator. Consult our experts if you have any questions about which regulators are the most reliable.

You should be wary of Capital Expanse if they suddenly reveal withdrawal costs that aren’t mentioned anywhere on the website or in the contract. If fees, spreads, and commissions are transparent, you may observe that they are higher than the industry standard. You can do some study on the internet or talk to our specialists to find out what the permissible range for fees, commissions, and spreads is. A troublesome broker may speak too much, too little, or in an inappropriate manner.

Some brokers may go to great lengths to entice clients just to neglect them and refuse to respond to their emails once they have signed up. If they are scam brokers, this is done to deter them from withdrawing their funds. Don’t assume Capital Expanse is legitimate just because you were greeted by a polite chatbot when you first arrived on the site or because the broker paid you close attention in the first several weeks. You may have even appeared to profit on some trades, but wait till you try to withdraw the funds.

Some less-than-honest brokers will press clients to make specific trades. By law, all brokers must disclose their personal holdings. This avoids a pump-and-dump scheme in which a broker encourages his or her clients to buy an asset that the broker is holding until the price rises. The broker will then sell their large position, driving the price down and devaluing their clients’ holdings. This pump-and-dump scheme is illegal, and Fund Recovery Experts are experienced in submitting claims in such situations.

Many of our consumers discover they’re dealing with a scam broker when they want to withdraw money, and the broker refuses or makes it tough. They may use the following strategies: Clients will be aggressively urged to make extra trades. Because the broker will be forceful and make it evident that he or she is in charge because they possess the client’s assets, the client will often agree—Will levy exorbitant withdrawal costs.

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Instead of withdrawing money, many clients will try to make more money to meet the high fees by making additional transactions. Put an end to the communication. They could be evasive or simply refuse to communicate. If Capital Expanse is doing any of these measures to keep your funds from being released, speak with a professional right away. Capital Expanse claims to make money by using a “trading script.” Of course, there is no proof that this script exists.

Capital Expanse also doesn’t show any proof of outside revenue earned by the script being utilized to pay affiliates. Capital Expanse, on the other hand, targets “the average person who isn’t familiar with the (cryptocurrency) ecosystem.” Newly invested monies are the sole probable source of revenue entering Capital Expanse. Capital Expanse is a Ponzi scheme because it uses freshly deposited funds to give existing affiliates a daily ROI.

The following is how a lending ICO Ponzi like Capital Expanse works:

Administrators (who are usually nameless) sell useless pre-generated points for actual money. It’s CAPX points in this scenario. The administrators then utilize some of this money to pay promised ROIs to new affiliates for as long as they sign up. When affiliate recruiting dries up, the ROI reserve dries up as well. The anonymous Capital Expanse admins pull a runner with what’s left when a predetermined threshold is achieved. Early Capital Expanse investors profit handsomely (mostly via recruitment of new investors). The truth of such schemes, like any other Ponzi scheme, is that the majority of participants eventually lose money.

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Verdict

After reviewing Capital Expanse, we’ve discovered a few reasons to proceed with caution. Speak to fund recovery professionals if you have lost money with Capital Expanse or any other broker or if you simply want to learn more about another broker. We counsel customers and can assist them in filing compelling lawsuits against unscrupulous brokers. We can assist you in recovering your funds by providing investigative reports and recommendations.

The broker is suspected of being a fraud based on the details and conclusions. The broker’s revenue-generating scheme is a Ponzi scheme, which is neither an indication of a legitimate organization nor lawful anyplace on the planet. As a result, we would encourage traders to read through this evaluation and details before entrusting their funds to this shady broker. Also, click here to find more news and articles about different kind of scam

Stay Aware & Safe From Blacklisted Crypto Scam Companies

Blockchain is a cryptographic technology that enables distributed record-keeping that is practically hard to alter, similar to a digital spreadsheet. Unlike traditional records maintained by centralized institutions, the blockchain ledger relies on a network of powerful computers racing to validate transactions that are accessible to everyone and can be trusted. Starting with Bitcoin in 2009, blockchain was first introduced as the technology behind cryptocurrencies. “You don’t have to trust an authority with your money with decentralized financial exchange based on the blockchain system, like what Bitcoin employs,” Nathaniel Popper of The New York Times explains. “Through software, two people are automatically matched, and they make the exchange directly with one another.”

Despite the fact that blockchain technology has been around for more than a decade, it has yet to find many practical applications for people who aren’t crypto speculators or criminals. According to Binyamin Appelbaum of The New York Times, cryptocurrency is a pointless, even harmful speculative investment. Cryptocurrency is unreliable, inconvenient, and expensive to use, and it cannot be used to replace government-backed currencies. However, it does stimulate market frenzies and consume massive amounts of electricity. Not to mention the number of unscrupulous brokers who have taken advantage of this new technology and continue to defraud first-time investors by acting as a regulatory and legitimate entity. Scams involving cryptocurrencies have exploded in recent years as a result of the cryptocurrency boom. Elliptic, a cryptoasset risk management, estimates that as of November 2021, decentralized finance (DeFi) users and investors have lost $10.5 billion due to theft and fraud, up sevenfold from $1.5 billion in 2020.

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