Bitcoin Prime | FinTelegram News

Tag: Bitcoin Prime

February 13, 2022

About illegal broker activities and scams!

We are often asked where the difference is between illegally operating brokers and scam brokers. Indeed, a valid question, and the line is undoubtedly blurred. The simple answer is that all scams are illegal, but not all illegally acting brokers are necessarily scams. Brokers or investment firms act illegally if they do not have the required permission for their offering in the respective regulatory regimes. In the case of scammers, the intent to defraud their clients is the defining p

CNMV

February 8, 2022

Spanish watchdog issues more than 20 warnings!

The CNMV has issued warnings against more than 20 operators of financial websites. Among them is CIIZURN, a CFD broker licensed in Canada as a money services business. Among the warnings are about a dozen crypto schemes or crypto trading providers. A warning was also issued against the fraudulent crypto scheme BITQS which, like Bitcoin Prime or Bitcoin Revolution, catches victims for illegally operating brokers with the promise of quick wealth. Below is the list of the warnings:

January 18, 2022

BaFin follows FinTelegram issuing a Cease-and-Desist Order against Bitcoin Revolution!

FinTelegram has repeatedly warned against the fraudulent crypto trading bots like Bitcoin Prime, Bitcoin Evolution, or Bitcoin Revolution and the marketing campaigns associated with them. The truth is that these crypto trading bots don't even exist. They are fake constructions and the only real thing about them are the brands developed by the scammers and their marketing agencies with the aim of chasing clients for illegal brokers. Today, BaFin has issued a Cease-and-Desist Order against Bitcoin Revolution today. Finally!

January 18, 2022

Stop Google Campaign! Do not fall for fraudulent Sunny Investments!

FinTelegram asked BaFin a few days ago to take action against Google to prevent Google DE from continuing to accept fraudulent financial ads from scammers. In UK & Ireland, Google has already taken measures to prevent scammers as customers. Google DE, however, continues to serve dozens if not hundreds of fraudulent financial ads to its visitors every day. In our Stop Google Campaign, we will present specific examples for cyberfinancial scam ads on Google, such as Sunny Investments advertising the fraudulent Bitcoin Prime campaign.

January 16, 2022

Please BaFin! You have to order Google to immediately stop publishing scam ads!

Google, like Meta, has been massively criticized for making a lot of money from advertising scammers. The UK FCA issued 1,200 warnings in 2020 about scams made by fake companies on Google and social media platforms. Consequently, in August 2021, Google UK & Ireland re-regulated the advertising of financial offers, allowing only FCA-regulated firms to advertise financial services, including crypto ads. On the other hand, on Google DE, fraud scheme operators can still buy ads without any restrictions.

November 13, 2021

Urgent warning! Stay away from the Terracoins crypto scam!

Unsurprisingly, the ongoing crypto hype is also used by scammers. We have often reported fraudulent marketing campaigns like Bitcoin Up or Bitcoin Prime that catch victims for broker scams with the promise of quick wealth via cryptocurrencies. The German regulator BaFin has announced investigations against Terracoins (www-terra-coins.co) for allegedly conducting banking activities without the required permission. The truth, however, is that Terracoins is a scam on top of that.

November 8, 2021

Attention Germany! Do not fall for the ImperialFunding scam!

In today's reviews, we were led via some fraudulent marketing campaigns on the Top Brokers Comparison platform (www.topbrokerscomparison.com) to the broker scam ImperialFunding (www.imperialfunding.de) which seems to attack primarily German consumers. The Bulgarian A&E Products Ltd allegedly operates this very poorly made white-label scam. In our review today, no deposit was possible without direct contact with boiler room agents. Stay far away from this scam, keep your money and your data!

November 1, 2021

Urgent Warning! Don’t fall for ExpressFX broker scam facilitated by OOBIT and MoonPay!

The fraud marketing campaign Bitcoin Prime today promotes the scam broker ExpressFX (www.expressfx.com). Anyone who registers with the Bitcoin Prime campaign is also automatically created as a future victim of ExpressFX. After registering, one is directly redirected to the scam's payment page. There, victims can make deposits to the scam via credit and debit cards through OOBIT and lose their money. We did not discover any reference to the legal entities and people behind the scam on the website. Stay far, far away.

October 26, 2021

Urgent warning! Bitcoin Prime fraud campaign chases victims for IGC Markets broker scam!

FinTelegram has warned about the IGC Markets broker scam several times. Today, the scam is being promoted by the fraudulent marketing campaign Bitcoin Prime and mainly targets German-speaking victims. As a payment processor, we have discovered the mysterious crypto payment processor Coinsxo in BoxiPay cashier. Its website does not provide any information about the legal entity of the operator. Cyprus is stated as the Coinsxo jurisdiction.

July 21, 2021

Marketing Blacklist – UK FCA warns against the Tesler fraud campaign!

It is about time for regulators to take stronger action against fraudulent marketing campaigns like Tesler, Bitcoin Prime, and myriads of others. These fraudulent campaigns are constantly acquiring new victims for the hundreds of active scams and collecting commissions for it as a so-called Introducing Broker. These fraudulent campaigns are created and operated by digital marketing agencies. 8 out of 10 of these campaigns, like Tesler, come from the workshop of Israeli agencies. The UK FCA issued a warning against Tesler.

July 7, 2021

Investor Alert – QuantumCapitals scam still attacking European consumers!

We don't check all incoming emails that promise us quick wealth, but most of them. For example, an email promising us new products will earn us a lot of money easily and quickly. The link takes us through the referral hub www.irmasip.com, a site offering online cooking courses, to the Tesler fraud campaign on the unspeakable website Wapyhdkt (https://wapyhqkt.xyz/tesler-3). We register, and this also automatically registers us as a victim with the broker scam QuantumCapitals (www.quantum-capitals.com) and takes us to its cashier page.

June 22, 2021

Investor Alert – 24/7 Trading Academy scam promoted by BitcoinUp fraud campaign

In our market monitoring activities, we have noticed that a new scam is active again with 24/7 Trading Academy, which is an introducing broker chasing new victims for broker scams and illegal offers of regulated CySEC brokers. The 24/7 Trading Academy scam itself is promoted by the fraudulent marketing campaign BitcoinUp, which we have already added to our blacklist. The BitcoinUp campaign is currently running on the UflySmart referral hub. Stay far away from 24/7 Trading Academy.

CFTC Targets Polymarket and Offshore Crypto Betting Platforms Amid U.S. Presidential Election!

The CFTC’s crackdown on Polymarket and other offshore crypto platforms signals a new phase of enforcement in the prediction market space, where the intersection of derivatives and elections raises complex compliance challenges. With over $930 million in bets placed on Polymarket’s "2024 Presidential Election Winner" market, regulators are taking notice.

SEC
US DOJ

U.S. DOJ and SEC Charge Former CEO and CFO With Fraud and Misleading Auditors!

SEC and DOJ cracked down on fraudulent financial reporting at the tech company Kubient. The company's top executives were misleading investors about revenue, which was central to raising millions. Former CEO Paul Roberts faces up to 20 years for orchestrating this scheme. Kubient is a digital advertising technology whose shares were publicly traded on the Nasdaq between August 2020 and November 2023 under the ticker “KBNT.”

U.S. Tech Companies Face Mounting Regulatory Penalties from EU Authorities

Regulators in the EU are steadily increasing pressure on U.S. tech companies, hitting them with billions in fines for antitrust violations and data privacy breaches. This regulatory offensive is reshaping how these companies operate, especially as new laws like the DMA and DSA come into play. While the U.S. has also taken action against tech giants, the largest monetary penalties have come from European regulators.

Google Wins Major Legal Victory in €1.49 Billion EU Antitrust Case

Google’s legal win against the €1.49 billion fine sets a new precedent in Big Tech’s battle with EU regulators, but the scrutiny is far from over as antitrust challenges mount on multiple fronts. Last week, the EU's top court upheld a fine of €2.42 billion imposed on Google for abusing its dominant position by favoring its comparison shopping service. The war of EU regulators against the dominating U.S. tech companies is far from over.

Auditors
SEC

Audit Firm Prager Metis Settles SEC Charges for Negligence in FTX Audits!

Auditor firm Prager Metis’s negligence in auditing FTX stripped investors of crucial protections, ultimately exposing them to the collapse of one of the biggest crypto frauds in history. The firm agreed to pay $1.95 million to settle charges related to the FTX audits and separate auditor independence violations. The U.S. SEC’s action underscores auditors' vital role as financial gatekeepers.