Crypto Scams
Cryptocurrency is deemed by many to be the next get-rich-quick scheme. This is because this often complicated form of trading offers attractive returns without requiring a huge capital outlay.
Unlike many other investments, Cryptocurrency is an unregulated industry that offers no financial protection. Neither is it a tangible asset, where you have something to show for your money.
This unregulated market has left an enormous vacuum for criminals who have taken advantage of those wishing to better their finances. In addition, unrelenting social media marketing and cold calls have plagued people in the UK. With many people having difficulty understanding how Cryptocurrency works, they have unfortunately relied on others, with many of these so-called experts simply stealing money and disappearing into the ether.
The most common cryptocurrency scam is the Ponzi scheme. Investors will be lured in with the guarantee of high returns. To begin with, these small but regular payments will convince you that you have done the right thing. Unfortunately, this playbook Ponzi scheme method of creating confidence and trust is used to encourage you to invest further. Unbeknownst to many, the returns you get are from the money paid by new investors into the scheme. Once the people behind the plan have generated enough money, or the plot begins to collapse, they disappear with your money.
Below are some of the crypto companies that have taken this route.
- Onecoin
- Bitconnect
- PlusToken
- GainBitcoin
- Mining Max
If you have been caught out by a Cryptocurrency fraudster and would like to claim, get in touch. Our expert team will do everything in their power to recover what is rightfully yours.
