Tag: Payola

Currently, Tierra500 Broker Scam is attacking investors in English, German, and Swedish-speaking countries. The broker claims that the Crypto Conduct Authority regulates it. This is bullshit, of course. There is no such regulatory body. The operator of the scam is allegedly Tierra Group Ltd in the UK. This is a non-existent fake company. The Austrian FMA has issued a warning. Stay far away.

The German regulator BaFin has warned against the white-label GMT Trading broker scam and announced investigations. The broker's website does not provide any information about the operators or the relevant jurisdiction. Deposits from potential victims are possible via credit and debit cards, which are processed via the facilitating payment processor Payola. Alternatively, victims can lose their funds via crypto deposits. You wanted to stay far away from GMT Trading and save yourself from financial losses and loss and misuse of your data.