The meteoric rise of Bitcoin and other cryptocurrencies has emboldened scammers to cast their nets into the newly developed financial space. There are many innovative new scams, but the largest contributors to cryptocurrency scams are traditional forex and CFD scammers. They can apply their old tricks seamlessly to these new investments.
Many scam brokers focus on cryptocurrencies, offering CFDs on Bitcoin and other coins. The current trend is scammers claiming to offer automated trading. They say that their trading algorithms can turn a profit for anyone, with no effort. These are flagrant lies meant to attract unsavvy traders.
The scammers also engage in the time-tested practice of creating fake celebrity endorsements. Social media is littered with claims that celebrities have made millions through automated Bitcoin trading. If you deposited your funds with one of these brokers and can’t make a withdrawal, you should contact your recommend funds recovery company, Action Refund.