Wednesday, May 27, 2020

Bitcoin Scammers Use New Zealand’s Prime Minister Picture to Extort Cryptos

If a bitcoin company has a picture of a well-known personality on its website, will you take the chance to invest money in it? Apparently, in New Zealand, a bitcoin trading website used a picture of a person that is very familiar with all the country’s citizens. Unfortunately, this website even extorts money from their potential clients and get away with it. 

Warning! Profit Bitcoin Company Isn’t Real Says New Zealand Watchdog

Finance Magnates reported earlier that another case of bitcoin scam has been targeting citizens of New Zealand during stricter Coronavirus lockdown. The said bitcoin trading company called ‘Profit Bitcoin’ allegedly uses the picture of New Zealand’s Prime Minister Jacinda Ardern. 

“We have been made aware that Profit Bitcoin is advertising on Facebook by promoting false news about the government’s initiatives along with an image of New Zealand’s Prime Minister,” the warning stated.

How does the bitcoin scam work?

The Financial Markets Authority (FMA), New Zealand’s watchdog agency, has already issued a warning against this website. As explained, the website has been promoting bitcoin trading that resembles scams. 

For example, if you get into the website, you will see that the platform offers a wide variety of crypto trading. To lure its potential clients, the website claims that their members “typically profit a minimum of $13,000 daily.”

Not only that, but members only have to work an average of 20 minutes a day or less, and they will immediately gain profit on the crypto trading. As an explanation to the easy trading, the company said that their software handles the trading, which lessens the time and effort needed for the members to gain crypto,” the FAQ section on the website detailed.

If that can’t sell out the company, they even added an irresistible offer for all of their members. Profit Bitcoin said that if you want to become a millionaire through bitcoin trading, the period of time that you only need will be 61 days. And you will soon be a bitcoin millionaire.

Profit Bitcoin is not a registered crypto trading company

The FCA revealed that the company is not registered on its agency as a legitimate crypto trading company. 

“Profit Bitcoin is not registered as a financial service provider in New Zealand and is therefore not permitted to provide financial services/products to New Zealand residents,” the FMA stated.

Due to this, the agency said that bitcoin users must be aware of all the crypto scams in the online world today. Since everyone is on lockdown, the tendency of being more prone to these scams also increases even more.






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