Tag: Bitcoin Formula

FinTelegram recently issued an investor warning against Bitcoin Formula, an affiliate system to recruit new victims for various broker scams. Among them, we have discovered the Lucrum.Pro (www.lucrum.pro) is one of the many scams promoted via Bitcoin Formula. This specific scam is allegedly operated by Econdary LLC, registered in St. Vincent and the Grenadines. Deposits can be made using an intermediate solution via Stripe and PayPal or cryptocurrencies. The scam found an interesting solution to integrate Stripe and PayPal via a Polish Sales Master Z.O.O. (d/b/a Varifilio).

The crypto hype is getting stronger every day. Almost every day, we read headlines about new crypto events. PayPal reports records since they accept cryptocurrencies. Elon Musk and his Tesla are buying $1.5 billion worth of Bitcoins, and most recently, Twitter chief Jack Dorsey and Jay-Z announced the creation of a Bitcoin trust. Meanwhile, the big media houses like CNN, BBC, or the Financial Times entertain with ever new exciting crypto stories. Scammers use this hype to rip off greedy and/or naive consumers with scams like Bitcoin Formula and ProfitsTrade.