crypto fraud

CRYPTOCURRENCY FRAUD – HOW IT HAPPENS AND HOW TO FIGHT IT

Ever since the launch of the first cryptocurrency, the entire industry has been embroiled in controversy. There is no denying that crypto is the cause of hundreds of rags-to-riches stories. But ,there is also an equal number of stories about cryptocurrency fraud. Also stories exist on how it has enabled scammers to make millions from unsuspecting investors and buyers. The profit potential of the market always draws people in. However.  if you truly want to real its benefits, you have to know how cryptocurrency fraud happens. And, how you can avoid it. If you are unable to do that, you will end up losing your hard-earned money.

Let’s take a look at how cryptocurrency frauds happen and how they can be avoided:

  • Fake crypto investment platforms

One of the easiest ways for scammers to commit cryptocurrency fraud is through fake websites or mobile apps. A lot of these software are out there. Because they resemble authentic crypto websites or apps, a lot of people don’t look too closely and fall into their trap. However, there are ways for people to identify such websites, which include checking the URL of a website to ensure it has ‘https’ in the site address and there is a lock icon next to it. Similarly, you should ensure there are no changes in the URL at all.

As far as mobile apps are concerned, scammers make fake apps that have similar names and user interface as the authentic ones. Before entering your log-in credentials on any platform, you should ensure whether the app or website is secure or not.

  • Giveaway scams through social media networks

Misleading tweets on Twitter, posts on Facebook or giveaways on Instagram can also be used to commit cryptocurrency fraud. If you come across a social media post that offers a cryptocurrency deal, which seems too good to be true, the chances are that it is fake. Even influencers will advertise giveaway schemes, asking you to send a little crypto to the address provided, and they will send you five times more. This is just another elaborate fraud.

  • Scamming emails, technical support, phishing and impersonation scams

These are some of the most common ways to commit cryptocurrency fraud and most people have come across it at least once. Everyone gets a lot of spam emails or calls that are impersonating an officer from your bank. Their aim is to fish out your sensitive information, such as login credentials. As far as cryptocurrency is concerned, scammers pretend to be from your legitimate crypto wallet or platform and have identical branding and logos. They usually comprise of malicious files or links, so you should always avoid clicking on a link inside such messages or emails.

In fact, some cryptocurrency frauds go as far as announcing fake initial coin offerings, or ICOs, for stealing funds. You should never fall for these fake website offers and should take some time to go over the details. It is also recommended that you never share your passwords or security codes and make use of 2-FA (two-factor authentication). Ignore outbound calls asking for your confidential personal information because it is possible for scammers to poof legitimate phone numbers. Never give remote access to your device to anyone.

  • Investment frauds

Another common cryptocurrency fraud involves scammers setting up seemingly legitimate platforms, which claim to offer mostly unrealistic and high returns in exchange for sending cryptocurrencies. In such situations, you should be skeptical because the returns are mostly unrealistic. You should always send cryptocurrencies to trusted and known third parties only. If you contact someone new, research the exchange or organization thoroughly before trusting them with anything.

  • Initial Coin Offerings (ICOs)

Similar to how IPOs work in the stock market, ICOs, or initial coin offerings, are essentially fundraising mechanisms that are used for newly launched cryptocurrencies. Those who invest in ICOs are given tokens in the new venture. Billions of dollars are poured into ICOs on a yearly basis, but not all ICOs are legitimate. Some scammers have used them to commit cryptocurrency fraud and investors later discover that these ICOs don’t have any technology or real business plan behind them. Therefore, you need to be extremely cautious before investing in ICOs, regardless of how great promises they make.

  • Unregulated exchanges and brokers

There are hundreds of unregulated online brokerage firms and exchanges that offer cryptocurrencies and other crypto trading products. But, these are also a way of committing cryptocurrency fraud, so it is essential for people to be wary of too-good-to-be-true promotions and promises of get-rich quick schemes because this could be just another cryptocurrency fraud. Once you have invested money in such firms, they will charge you outrageous commissions and can also make it immensely difficult for people to withdraw funds. In the worst-case scenario, these unregulated brokers and exchanges will steal your money.

  • Mining frauds

It is possible for any regular investor to mine cryptocurrencies through cloud mining, which can work without expensive hardware. There are many cloud mining services that allow users to rent server space at a fixed cost for mining altcoins. This can come off as a very lucrative option for mining altcoins while sitting at home and not having to invest in hardware. However, you should bear in mind that not all of these services are genuine and you could end up becoming a victim of cryptocurrency fraud.

How can you identify the frauds? One way to go about it is to see if they are making any lofty promises. The fraud ones tend to make promises of high returns on your investment and don’t mention any hidden fee that might be applicable on the returns. Moreover, their systems are smart enough to keep on sucking money from the unsuspecting investors.

You should always be vigilant when you are investing in the crypto industry in order to avoid becoming a victim of any kind of cryptocurrency fraud.

Share broker fraud

SHARE BROKER FRAUD – THE MANY WAYS IT CAN HAPPEN

When you are signing up with a broker for trading, it is normal for you to assume that they will represent your best interests at all times. Their  job is to help you make more money and in doing so, they earn a fee for their services. Unfortunately, in today’s modern age, scams have become quite common and online market share broker scam can also happen. It is when these brokers put their own financial interests above yours They violate the trust you have put in them and cause you to lose hundreds of dollars . These days, the number of such scams have gone up. But, before getting into its details, it is important to distinguish between broker fraud and normal investment losses.

Because lose money through your investments doesn’t mean that you are a victim of online scam. It is natural for the markets to fluctuate and incurring some losses is a common part of the investment process. No broker can insure you against market risk. But, beyond the realm of these normal investment losses,brokers often cross the ethical standards. They place their interests above yours,  and you end up being a victim of broker scam. To figure out if you are a victim of scam, you need to know the different ways online market share broker scam can happen.

Want to know more? Read on to find out:


  • Unsuitable investments

Brokers have the responsibility of understanding their clients. Their risk tolerance, investment experience, income, financial needs, other assets and investment goals. They access these qualities before they can recommend an investment to them. Therefore, legitimate brokers only recommend investments after they study your portfolio and understood your situation. If they recommend any unsuitable investments that are not in accordance with your goals and risk tolerance, it is deemed a fraud.


  • Omitting or misrepresenting facts

Your broker may provide misleading information or withhold material facts t which can impact your investment decision. It is considered an online market share broker scam. Professional brokers would never do this to their clients because their goal is to work in the client’s best interest. Information like liquidity, sales-related compensation, risks, trading fees and so on. Or, something that can influence your trading decision should be disclosed to you straight away. If the act is deliberate, it will fall under the category of fraud or scam, but if it is an honest error, it will be regarded as incompetence.


  • Over-concentration

Sometimes, people also suffer excessive losses in their portfolio because most or nearly all their money is invested in one market sector or instrument. This could be because your broker is over-concentrating rather than diversifying. Portfolio diversification has been proven to be an effective way of reducing risks and your broker should help you accomplish this goal rather than doing the opposite. If they don’t do so, it is regarded as investment fraud.


  • Unauthorized trading

A very common online market share broker scam is when your select broker trades on your behalf. Just because you open an account with them doesn’t give them the right to take decisions. Especially when you do not grant them permission. If you permit them, then it will not be seen as a scam. However, where take action without your consent or knowledge, it will be considered a scam. Especially if that trade results in heavy losses for you.


  • Churning

This happens when the trading activity in your account becomes excessive. And, your broker claims that they are simply trying to pursue more profits. But, you should note that churning is also a kind of online market share broker scam. Because, it is mostly done by those who receive commission for every transaction. Brokers start churning because higher transaction frequency will result in increased commission for them. Which is an incentive for them, but may not be in your best interests. If you have given discretionary authority , then you need to keep an eye on trading activity closely. Monitor them to determine whether they are being fair to you or if you are scamming.


  • Timely execution

Has your broker ever failed to execute your trade on time? The law requires them to execute all your orders promptly. And, not doing so is just another online market share broker scam. Because, it may go against their interests. If they refuse your order or delay it deliberately, there will be a good reason. And, brokers do it to scam clients. Authentic brokers will never delay any trades. Because, their aim is to help their clients make the most profits from their investments.


  • Unregistered or unlicensed

No matter what financial product a broker sells, or service they provide, they must first register. A genuine broker will not hesitate to go through the legal process. And, fulfill all requirements to obtain a license and start.. But, if the broker you find is unregistered and unlicensed, there is a good chance it is another online maret share broker scam and they will vanish overnight with your funds, leaving you empty-handed.

  • Lack of information

A clear sign of a legitimate online market share broker is that they will be upfront about their company, services, terms and conditions, policies and their costs. Unlicensed and fraud brokers, on the other hand, will provide very little information, and what information is available is quite vague. If you want to steer clear of an online market share broker scam, you should never sign up with such shady brokers and always do your due diligence. In case that you do end up becoming a victim of such scams, there are services like Money-Back that can come in handy and help you recover your investment.

World binary exchange scam

World Binary Exchange Scam – What you need to know

The road to being a victim of world binary exchange scam is pretty straightforward Once you contact any binary options agent online that is promising too good to be true returns and outlandish promises coupled with a thin risk level, then you should light up your fire of suspicion 

As a binary options trader, you need more analysis and dedication to examine a broker that will bring you more success than a scam. 

It is undeniable that most people who fall, victims of world binary exchange scams, have horrible experiences. To avoid this, this article will show you some popular world binary exchange scams that you should be aware of. 

Does World Binary Exchange Scam exist? And why?

There is no online trading scheme without dishonest people who want to make money easily by ripping off innocent investors and binary exchange is not an exception. Scam exists in binary exchange ever since it started because some fraudulent people do create fake websites to scam people.

Any scam activity carried out in platforms like this is easily done because they happen online. Another reason why it exists predominantly is that most traders lack the basic knowledge of how to identify the fake identities from real ones. 

The fault often comes to form bad binary options brokers who go the extra mile of offering outlandish returns and little risk if traders can deposit money via bank transfers. If it was only about stealing your money online, it would have been better as you can have it recovered by contacting a recovery company like Helium Forensics. But the worse is that some rogue brokers of binary exchange will still go-ahead to use your personal information in identity theft scams. This can further aggravate the situation on the ground. 

So the best thing is to be aware of these scam methods in order to avoid them.

World binary exchange scam traders should be aware of

This is probably the major method of world binary exchange scam that we have seen so far. This basically involves a video, explaining to traders the bounties of a trading website that offers free use over and over again. You see promises like ‘risk-free’ ‘profit guaranteed’ and other too good to be true things.

Once you supply your details on the site, you are on your way to being a victim of scam. And this is to the benefit of the broker you get linked to and the managed service provider. 

One other method that online brokers that are scam deploy are the use of fake testimonials. We have observed that the traders in these fake testimonials all have outlandish returns and are from all walks of life. This can be really convincing but there are signs to show them. Some will have bad spellings of vital keywords Others will only be limited in that site and will not reflect the same feedback in other related platforms and forums. All in all, you want to make sure that the broker you are dealing with is reputable.

Lastly, you need to beware of generous bonuses. They are usually impossible. But this scam promises you trading the entire bonus amount over a particular limit. It is very easy to fall victim to the binary exchange scam. But it is also very easy to identify them if you take all these notes seriously.

How to Spot Binary Option Scams

Although a number of glaring signs that can show a scam exists. Most traders, especially beginners, find it very difficult to spot binary options scam. When booking a broker or a managed account provider,  take the knowledge of company information on their homepage very seriously.

Do not deal with brokers who operate in the shadows as their motive will never be clear. When choosing an online broker, you should look out for their legal terms and condition as well as regulatory oversight.

Another thing you need to take note of is client testimonials. Although there are a number of online brokers and managed service account with a number of clients positive testimonials. But if they are really true. You should check related forums to see people’s recommendations. Scam brokers deploy the use of clients’ feedback to lure new traders that may seem swayed by fake feedbacks. 

what is the best way to recover your money from a bad binary options broker

Recover Your Money From Bad Binary Options Broker?

It is quite sad that until when you actually sign up and trade with a broker, you may never know whether such a broker is reliable or a scam. 

This is the bitter truth because so many innocent traders have been ripped off a huge amount of money from Binary options trading. This has further aggravated the misconception about the ingenuity of the trading scheme. 

We keep telling traders to ensure that they carry out proper research on the broker they want to sign up with as there many bad ones that are almost undetectable. Some of the things you should focus on when researching broker reliability Are the negative reviews on popular forums and sites. 

The negative reviews speak more about the difficult times other traders may be having with such a broker. 

A bad binary options broker will develop some reasons that will prevent you from withdrawing your earnings. So before you do any deposit or even sign up, you need to research the broker.

This post will cover all you need to know on how you can recover lost money back from bad binary options brokers if you have fallen victim already. 

But first, how do you identify and avoid them? Because really, it is better to avoid it. 

Avoiding bad Binary option brokers 

While trying all means and getting all the knowledge required to identify a scammer, you should know that proper research on how things work in binary options trading is essential. 

The broker you are about to sign with, there should be clarity as to whether the broker provides the desired assets and option types. 

You should also be certain of the standard withdrawal times and customer service. 

With all the drama about contacting a bad binary options broker, it may seem difficult to choose the best and reliable one. Thankfully, you can contact us for assistance on that. 

But what if you have fallen victim already? 

It is not late to recover your lost money back from Bad binary option broker  

I’m sure by reading this, you are desperately in need of a solution. On how to recover your money from a scam broker.

While we will give you a positive lead, you need to do some things to avoid it happening again. Worse, happening to other people.  You can share your experience in order to warn potential new victims.

Just chin up and be ready to improve your trading. And, generate the required returns, because brave victims of scam are usually end up being the smartest. 

Contact a popular recovery company once you suspect a scam. It is the only possible way to recover lost money from a bad binary options broker. That is, apart from reporting to a public financial authority which may end up being futile.

But, be very careful at this point too because we hear of cases where fake individuals come under the shadows of a recovery company . The ask for an upfront payment to do a job. 

Choosing the right Recovery company – Helium forensics 

Many people, victims particularly, do make research on the best recovery company to report to. Recovery companies are a group of professionals that help traders like you to recover wealth and stolen money especially in binary options, romance scam, and even recovery of lost and stolen bitcoins.

It is normal to flutter an eyebrow at this but it is the best effective way. You are lucky here because you can simply contact one of the best recovery companies – Helium forensics

With the information you provide us with, we will be able to track and recover all your money back. 

Helium forensics is a tech company that uses high-end technology to track and recover lost and stolen funds online. This includes binary options trading.  With a high success rate, we are consider ourselves experts in tracking and recovering funds. You can do this anytime by contacting us today. 

We also want to warn that victims should be further careful of some other recovery sites as some are fake websites that can scam you at the end without recovering your money. Unlike other suspicious recovery sites, our site is secure (https).

Most fake online recovery company websites mostly make use of the “chargeback” recovery site. And we can’t say for sure but, you need to be cautious if you come across this on any recovery site. 

We understand how devastating it is when you lose a huge amount of money to bad binary options brokers and how frustrating it is when no one picks your call. Helium forensics can help you recover your stolen funds.