Tag: LeaderPay

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.

The UK Watchdog Financial Conduct Authority (FCA) has issued an investor warning against the broker scam of the Profits Trade (www.profitstrade.com). According to information on the scam's website, it is operated by the company ProfitsTrade Ltd in Dominica. Deposits are processed via Klarna and LeaderPay. The broker scams are really bad for small investors and consumers. But worse, much worse are the facilitating payment processors that make fraud possible in the first place.