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May 8, 2021
Comments Off on Which Crypto Exchange offers the best Future Trading?
Are you looking for a good platform for trading futures in Crypto? We have insights into crypto platforms offering the best cryptocurrency future trading. Learn how the system works and be an early bird taking great advantage.
Crypto Futures provides an opportunity for investors to get exposed to virtual assets. Traders can use this to trade in coins with no physical ability to get hold of the available assets. Some Futures, like Bitcoin, typically work like contracts for bonds or indexes. It usually grants investors speculation on the price tag for digital currency. Some of these contracts are simple agreements to purchase & sell digital currency. These are at a specific period for a price that’s constant. Let’s get down right away to our best three Future exchange recommendations in the crypto world.
Crypto Exchange Platforms for Future Trades
FTX:
Undoubtedly, FTX is the most enhanced and preferable site for Future trades. It came into the digital marketplace thanks to a prominent investor, San Bankman-Fried. The site integrates superb innovation, thus becoming the fast-developing platform globally. Why do traders fall for FTX?
In truth, the platform is less expensive and diversified. Furthermore, it’s user-friendly and effortless to use. Users also get to learn Futures and options guides. FTX offers deals on 100x never ending nor changing Futures, USD as well as USDT. Having FTX at your fingertips, you can carry out trading for all Defi tokens. The available modes of payments include cryptocurrency, Bank transfers, Bank wire, among others.
Binance:
It’s another appropriate recommended site for Future trading. It has consistently held the top position in being the world leader. And Binance always tops the list for offering cryptocurrency futures trades. Clients enrolled with Binance can transact with multiple digital currencies. This includes Ripple, Ethereum, and Bitcoin. Regardless of where you are, open an account in seconds. With Binance, you get the opportunity to benefits from top-notch Future trading.
Why is Binance an option?
Here, prospective and active investors can enjoy cheaper charges. When compared with other Future platforms in the world, this is cheaper. The payment modes available with Binance trades are also great. It includes ACH-Bank transfers, Credit &Debit cards, and digital currencies.
Kraken:
Established in 2011, Kraken has experienced substantial growth in the crypto sector. Kraken is also a good option for traders searching for the best Future trading platform. It grants users the ability to carry out trading practices. You can trade in virtual contracts like Ethereum and Bitcoin Futures.
Why do users prefer Kraken?
Traders know that Kraken has favorable fee structures. They also like its outstanding site security and private data storage procedures. It’s has a good reputation and is easy to use. Concerning the modes of payments, Kraken is diverse. Users can use cryptocurrencies, Bank transfers, bank wires, and many more methods.
May 5, 2021
Comments Off on Blockchain Technology: Disruption or Construction of the Banking and Financial Industry?
The financial and banking sector may successfully adopt and execute blockchain technology. The Blackarrow conference is on 20th May 2021. In addition, this event will accommodate around 25 professionals in the blockchain. Above all, there are over 500 delegates evolving around the world.
Blockchain in the banking industry will force the adoption of a different procedure. This will involve technology to digitalize transactions and other records. Also, currently, we can witness a great
disruption in the banking sector. Also, particularly when we talk about applications requiring the block-chain implication. Huge financial entities have started to practically employ the use of blockchain. This includes local banks and stock exchanges that have adopted many techniques. In addition, this is to fulfill an adoption plan of the “new” advancement. Shortly, the traditional form of banking may receive a replacement. However, if it doesn’t fully embrace the proposed version of blockchain technology. According to major specialists in the finance category.
Reasons Behind the Move
The move is a “must” else financial institutions will just “lag behind.” Also, the initiative had the endorsement of key people. Moreover, this includes Magnus Jones of Nordic Blockchain. In his statement, he revealed many hard-hitting truths. He even said Defi will become an important factor in the banking and finance sector. This will not be the result of current implications. However, because of the independent procedure banks will come up with. Therefore, these techniques will contribute to a brand-new economic system. Where faster transactions will occur with more transparency accompanied by favorable rates. Above all, he also points that the financial sector has to rise now. Otherwise, several other actors in the crypto market will seize these opportunities.
Moving away from Magnus Jones, the anticipated conference will incorporate many sessions. In addition, professionals evolving around the planet will visit here to bestow their knowledge. Below is a list of some of the participants in the upcoming major event:
- Jamil Hasan from Irish Tech News
- Myrtle A.Ramos from Block Tides
- Magnus Jones from Nordic Blockchain
- I.Putter from Standard Bank Group
- Professor Sandner from Frankfurt School Blockchain Center
- Doctor A.Ferreira from Warsaw University of Technology, among other key speakers
Keynotes &Presentation Discussions on Blockchain, Banking &Finance
- The Distributed Ledger Technology in the Financial sector
- Disruption or Construction in the Financial sector
- Blockchain Technology: Misery or Opportunity?
- Minimizing the cost of trading and transactions
- Streamlined choice of adopting the Blockchain system of technology
- The Central Bank Digital Currency
In conclusion, would you like to take part in this major event? Registration for all delegates is FREE. Therefore, enroll and retain your seat for this conference happening in a few days. Blackarrow is looking forward to seeing you prepare for their mind-provoking session. Where you have a chance to network with professionals in the financial sector. Useful Links: 1. All delegates are registering for FREE using this button. 2. All inquiries and queries should be to sarfraz@blackarrowconferences.com Social media accounts: 1. Connect to Facebook, LinkedIn, and Twitter account for information. 2. WhatsApp directly to +919833487628
April 21, 2021
Comments Off on South Korean Regulators to Imply new Crypto Laws
In March 2021, the financial watchdog in South Korea brought forth a draft. This draft will see enforce proposed measures in April. These new rules have the Korean Financial Service Commission (FSC) approval. The primary purpose of these is to deal with illegal cryptocurrency transactions. This proposal led to numerous bans of individual accounts. Particularly for those who came from countries “blacklisted” by FSC. Among the countries affected by the move include Iran, Iceland, and N. Korea.
The New Law Comes to Effect
Early in April, the senior government officers and other economists initiated a meeting. It was for discussing more regulations and procedures to track illegal crypto business. Later on, 
the implementation came to effect on 10th April 2021. This will ensure money laundering and fraudulent financial activities comes to a stop.
the implementation came to effect on 10th April 2021. This will ensure money laundering and fraudulent financial activities comes to a stop. Furthermore, the crypto laws have come with rigid guidelines. These rules will ensure investors have remitted their returns after accumulating turnovers. Including their investments in Bitcoin business ventures. The FSC requested all crypto-oriented businesses and corporations to exercise a quality exercise. The reason behind this proposal was to monitor illegal money laundering. Now, the new guidelines are much stricter. Firms will have to disclose illegal crypto ventures and other crimes. These reports will assist the Korean intelligence unit in further investigations. This will help decrease the number of fraudulent acts happening in this sector.
Make Careful and Sound Decisions
Gu Yoon-Cheol is the head of the Office for Government Policy Coordination. He also urged all individuals to avoid carelessness. Especially when making decisions related to all digital currencies. He went further to show the public how crypto assets lack intrinsic value.
As the South Korean government continues to face more rigid financial guidelines. The Financial Supervisory Service went ahead to focus on the cryptocurrency – Bitcoin. The meeting discovered that Bitcoin had a pricing gap. Particularly when comparing the crypto exchange globally and the businesses in South Korea. The exchange in Korea is maintaining a gap of 10 % while selling Bitcoins.
Violations, Fines, and Imprisonment
The new 
law also comes with a brand new “punishment procedure.” This will apply to service providers to comply with KYC and AML guidelines. It will also help regulate violations & negligence of responsibilities by the stakeholders.
law also comes with a brand new “punishment procedure.” This will apply to service providers to comply with KYC and AML guidelines. It will also help regulate violations & negligence of responsibilities by the stakeholders. Also, the client’s reports should reveal all crypto transactions that occurred. This report will minimize the acts of financial crimes. The failure to comply with the newly established guidelines may attract huge fines.
Tax Resolution for 2022
We can witness a 20 % of taxation the next year. This will also apply to digital currency turnovers. The implementation will be to a given threshold on gains.
April 20, 2021
Comments Off on April 20 Might Become the Essential Day for Dogecoin
April has been good so far for most of the crypto assets. Bitcoin and Ethereum were the go-getters with the most surge in the top 10 segments. However, the last few days didn’t turn out to be profitable for these two cryptos. Where we witnessed correction in the prices of both these big-shots. Assets like BND, LINK, BAT were also some of the crypto coins corrected in the market. Surprisingly where all the assets are in the red zone. There is one coin that is passing expectations, Dogecoin.
It is one of the most loved coins by the community, with fans across the globe. We saw an 
unexpected surge in the Doge market where the coin made one of the wildest runs. But the community has other plans for this coin. They are promoting 20th April as a holiday and naming it the “Doge Day.” A coin that was never taken seriously is now targeted to reach $1 on its day.
unexpected surge in the Doge market where the coin made one of the wildest runs. But the community has other plans for this coin. They are promoting 20th April as a holiday and naming it the “Doge Day.” A coin that was never taken seriously is now targeted to reach $1 on its day. What is Doge Day?
20th April is presumably given as the date for doge day by its ever-growing community. People are already hyped about this. They are posting on various social media platforms about buying dogecoin on the 20th.
Dogecoin has already riled up to unexpected territories. Therefore, we can safely say that it achieved significant financial landmarks. No one expected this at the start of 2021 that dogecoin will hit 50 billion in valuation. This valuation has made it even more prominent. More so than massive companies like ford and Marriott. But, if it by any chance achieves the given target on 20th April. It will become even more extensive than some of the blue-chip companies in the market.
What are the chances of this?
It surprised most of us to see when the entire market corrected itself; Doge was not ready to budge. Eventually, we saw a drop from $0.45 to $0.24, but it was not as big as we expected. After hiking by almost 3
times, its slow-paced drop is a clear sign of resistance. Research also says that around 64K address bought doge between $0.25-0.31. It also reveals the buying of about 16 billion Doge.
times, its slow-paced drop is a clear sign of resistance. Research also says that around 64K address bought doge between $0.25-0.31. It also reveals the buying of about 16 billion Doge.It also says that they were willing to buy more but couldn’t due to less money. Therefore, this resulted in its resistance. We can witness a doge rally on the sentiments of its supporters. As there are thousands of people on Twitter claiming to be Dogecoiners. All of these supporters are coming together to push this token on 4/20 above $1.
What does the Market study say?
Before one week, if someone were to say DOGE will hit $1 on 4/20, people will take it as a joke. Today, if we look at the current price trend and the grip of dogecoin exceeds fundamentals. However, nobody is recommending investing in this. People are assuming to invest by witnessing crazy social support for the coin. It will be exciting to see how Dogecoin performs on 4/20.
April 17, 2021
Comments Off on List of 5 Best Hardware Wallets for 2021
When it comes to digital coins mainly crypto, safety is the biggest concern. The main reason for this is hackers and fishing websites everywhere. Due to which people are now inclined to use hardware wallets and store their holdings. Hardware wallets are devices embedded with private keys. You can use this to keep their crypto assets.
These devices are safer than phone wallets as they are not directly synced with the internet. So, in this article, we make a list of hardware wallets. Below are the 5 best hardware wallets which you can use to store your holdings.
1. LEDGER NANO X
Developed by a Paris-based company called Ledger. Its production houses are present France. 
Whereas, the company operates through its offices in San Francisco. Ledger Nano X is probably the best hardware wallet available in the market as of now.
Whereas, the company operates through its offices in San Francisco. Ledger Nano X is probably the best hardware wallet available in the market as of now.Price- Currently, you will have to pay $119 for owning this wallet.
Features-
- The weight of this product is 34g, and the size is 72mm × 18.6mm × 11.75mm.
- The body of this device is stainless steel and plastic.
- It contains a 100 mAh battery.
- It supports Bluetooth connectivity. Therefore, this device is easily connected to your smartphone and pc without any wire.
- It supports multiple cryptocurrency storage.
- The package of this product comes with few accessories. It has 1 USB C cable, 3 recovery sheets, a keychain for this device, and Ledger stickers along with the device.
Coins Supported- Bitcoin, Bitcoin Cash, Binance Coin, Litecoin, Ethereum, Ripple, Monero, Neo.
2. TREZOR T
This is another high-end model from Trezor and is which offers much more features.
Price- $159, which is a bit high.
Features-
- All features are the same as Trezor’s one. Along with that, it also comes with a touchscreen instead of buttons. The device also supports more coins than the cheaper model.
- It package comes with a seal over the connector. The box also comes with one Type C USB cable. You also get a recovery seed card and stickers along with the device. It also comes with a magnetic dock.
Supported coins- It supports Cardano, Monero, Tezos, Ripple. Also, coins supported by Trezor One.
3. LEDGER NANO S
This
device is also from Ledger company and very popular in the hardware wallet industry.
device is also from Ledger company and very popular in the hardware wallet industry. Price- The price of this product is $59, which is pretty affordable.
Features-
- The size of this product is 39 × 13 × 4 mm, and the weight is only 5.9g.
- You get support for multiple software wallets.
- It supports 18 installable apps.
- The package comes with similar accessories. It comes with 1 micro-USB cable, one keychain along with keyring. You also get one lanyard. The box also comes with a recovery sheet.
Supported coins- This device supports 1184 coins in total. This includes Bitcoin, Litecoin, Monero, Ripple, Stellar, Dogecoin, Eos, Ethereum, etc.
4. KEEPKEY
Keepkey might be the last hardware wallet on our list, but it is nothing less than the others.
Price- The product costs around $99.
Features-
- This device comes with an OLED display and is aluminum-made.
- There’s a KeepKeey hardware wallet in the package. You also get a USB cable, and, Warranty card. It also has a recovery card which you can use to write down hints.
Supported coins- The wallet supports most of the ERC20 tokens. It supports major coins like Bitcoin, DASH, Litecoin, Ethereum, Dogecoin, etc.
5. TREZOR ONE
Another best pick for hardware wallets is the Trezor One. It offers many amazing features and benefits to users.
Price- It costs around $99.
Features-
The device is very sleek in design and looks great.
You can use this device with Mac OS x, Windows, and Linux.
Supported coins- The wallet supports 1064 coins in total. This list includes Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Tether, Stellar, etc.
April 16, 2021
Comments Off on Bitcoin Scammer from Manchester who Scammed Billions of Bitcoins hunted by US Police
Crypto scams were always popular, even in the last bull cycle, which happened in 2017. But have you ever heard of a crypto scam that of billions in value? It’s impossible to hear because there are none. Recently the government of Manchester claims to spot a fraudster named Benjamin Reynolds.
He is currently residing in the UK, accused of a billion-dollar scam. Where he allegedly lured customers and collected around 20,000 bitcoins in total. And this total to approximately $1.2 Billion as per current rates. The government is publishing a notice where the criminal will have to pay a penalty of $571 Million.
When was this order released?
The said order from 2nd March, had the accused deposit a fine of $429 Million. Along with that, 
he is also charged $143 Million as restitution cost. All this money needs depositing in the court of Manhattan. Reynolds, who is residing in Manchester, England, is yet to be behind bars.
he is also charged $143 Million as restitution cost. All this money needs depositing in the court of Manhattan. Reynolds, who is residing in Manchester, England, is yet to be behind bars.When was this crime done?
This scam of fooling people and stealing 20,000 bitcoins started in May 2017. He kept doing this till Oct 2017 where he promised customers a return of 1% each passing day. Investors thought their money is in virtual tokens as they earned substantial profits.
But the truth was that no such trades happened on a virtual network. The bitcoin which he stole was around $143 Million in value at that time. In total, this conman conned around 170 US citizens. All these details were in a statement by CFTC. A company called the “Control-Finance did all these activities.
The company ran an advert campaign on Facebook where he targeted interested investors. The promised return was around 1.4% daily which made people more lucrative. He paid the investors for 6 months, but he shut the company in September and ran away. The payments halted, and all the posts were also removed from social media.
CFTC commented on that, saying he was not willing to continue and always planned to run away. The exact number of bitcoins he received was around 22,190 in total. Reynolds defrauded about 1000 people around the world in total. The officials also said that he laundered around $150 Million. He pulled this by 
using multiple blockchain accounts.
using multiple blockchain accounts.Was the criminal caught?
The official came to know about this fraudster through his YouTube videos. Where he was promoting his activities. They noticed that he was also responding to inquiries through emails and comments.
The whereabouts of Benjamin Reynolds are still unknown to the government. He was almost in the grasp of officials, but suddenly the guy vanished in thin air. He is not yet caught by any of the officials.
April 14, 2021
Comments Off on HSBC confirms MicroStrategy ban due to bitcoin
Bitcoin is unconditionally rallying up to reaching its new ATH. But, amidst this bull run, HSBC refrained its customers from investing due to high risks. They blocked them from buying an asset of Micro Strategy due to their heavy BTC holdings. The bank is directly saying its customers that they will not risk more into investing in such stocks. We are constantly seeing MicroStrategy making headlines again and again in recent weeks.
HSBC has no more appetite for risks.
In a statement dated March 29ththat floated on a social media handle. The bank sent out alerts to the customers of their InvestDirect product. The message was for stockholders of MicroStrategy, the 
largest bitcoin holder. The bank said that they would halt additional buying or transferring of stocks. On the contrary, the holders can sell their stocks.
largest bitcoin holder. The bank said that they would halt additional buying or transferring of stocks. On the contrary, the holders can sell their stocks.One of the spokespeople from HSBC said that the bank has no more appetite for more exposure. He said that HSBC not much desire to risk investments into virtual currencies. Due to which they will limit their holdings on securities and products.
One of the clients said that the bank is clear to withdraw most of their holdings in virtual currencies. And will no longer facilitate any extra buying of such products. He also mentions that bitcoin is the most popular and valued virtual currency.
Were there any comments from MicroStrategy?
MicroStrategy has not yet given any open statements with regards to the decision of HSBC. It seems that they are declining to comment to most of the reporters. The company surged in values with its massive holdings in the crypto market.
In March, Goldman Sachs decided to jump their guns by investing in bitcoin and other such assets. Currently, only the clients of their wealth management product have access to this. Similarly, Morgan Stanley is offering its high-valued clients access to high-risk assets.
More About MicroStrategy
MicroStrategy is one of the many big companies to invest in cryptocurrencies. In August 2020, it became the 
first-ever publicly listed company to buy bitcoins. Since then, the company bought billions of worth of bitcoins on different lows and highs. It is currently rumored to hold around $ 5.5 Billion worth of bitcoins. This was also mentioned in their regulatory filings.
first-ever publicly listed company to buy bitcoins. Since then, the company bought billions of worth of bitcoins on different lows and highs. It is currently rumored to hold around $ 5.5 Billion worth of bitcoins. This was also mentioned in their regulatory filings.On Monday, Michael Saylor revealed something exciting. He said that he would be paying board members who are not employed through bitcoins.
The company last week also highlighted that it has around 91,579 Bitcoins in holdings. The current market capitalization of MicroStrategy is $ 6.8 Billion. Out of which, 80% is bitcoin.
It is in line with big companies like Tesla, Square, PayPal. All these have massive investments into cryptocurrencies for its treasury.
April 13, 2021
Comments Off on A Romanian University Is Planning to Accept Admission Fees Via Cryptocurrencies
The price of multiple cryptocurrencies is growing each passing day. Due to which the world is accepting crypto-based payment solutions with open hands. Recently, a Romanian University of Transylvania gave an unconventional statement. The University said they will now accept admissions fees made via cryptocurrencies. Lucian Blaga University is the name of this university. It gave the statement on Wednesday.
As per that announcement, this decision passed with consent from the students. More than 
11000 students in the university will be able to pay their fees via cryptocurrency. The university will implement this in July. All these payments will occur in Elrond (EGLD), which they will later exchange with Leu.
11000 students in the university will be able to pay their fees via cryptocurrency. The university will implement this in July. All these payments will occur in Elrond (EGLD), which they will later exchange with Leu.The LBU university becomes the first educational institution to accept admissions via cryptocurrencies.
Comments Made by the University
The director of the University said that the decision will support local businesses. Through this, a student will also be able to pay fees digitally. He added that the university has always supported the locals. This decision is also a part of their strategy included in their partnership with Elrond.
How will this Benefit Elrond
Elrond is a local start-up owned by a team of researchers living in Transylvania. Many of its partners are programmers and entrepreneurs that work with blockchain technology. The company is also trying to increase the quality of its services. It uses the existing blockchain network of BTC and ETH. The coin is EGLD.
They are providing free of cost crypto solutions to Students. Therefore, there will be no additional costs for processing their fees via Elrond. They are using this strategy to make students aware of digital payment solutions. This proves to be very lucrative for students because the cost is less and backed by blockchain.
Elrond’s 
CEO mentioned that their employees have graduated from the same university. Therefore, they are well aware of the potential of students from ULBS. Some of the workers are also teaching in ULBS. The CEO, Beniamin Micu, also says that they are excited about this new venture. Through this, we are looking to cater to the necessities of our next generations.
CEO mentioned that their employees have graduated from the same university. Therefore, they are well aware of the potential of students from ULBS. Some of the workers are also teaching in ULBS. The CEO, Beniamin Micu, also says that they are excited about this new venture. Through this, we are looking to cater to the necessities of our next generations.Elrond is yet to disclosed information about supported cryptocurrencies. However, as per rumors, bitcoin and Ethereum will be the first few accepted crypto coins.
More about the Elrond Network
The Elrond Initial coin offering happened in 2019. The company offered this through the launchpad platform of Binance. In addition, the coin has a high scalability level and is interoperable. The network targets the upcoming developers, businesses, validators. They claim to provide 1000x improvement in the user experience. They do this by improving blockchain’s speed, decrease costs and provide scalability.
The company’s allure comes with adaptive state sharding. It also offers proof of stake and a contract execution engine. All of its operations happen in Transylvania, which employs many of the locals.
April 9, 2021
Comments Off on How to stay away from cryptocurrency scams
Cryptocurrencies are becoming popular and therefore, are coming under the eyes of professional criminals. As they are launching new scams almost every day to de-fraud your holdings. How do you avoid getting framed or scammed? By using these tips, you can safeguard your holdings from such scams.
Bogus Platforms
Most scams that are out there happen through fake cryptocurrency platforms. They deliberately set up by scammers to steal your money. What the scammers generally do is impersonate a famous 
website. Then they manipulate the backend code to phish your credentials and steal your money.
website. Then they manipulate the backend code to phish your credentials and steal your money.To avoid this, watch for the “lock symbol” on the top left corner of your web browser’s search bar. Another thing to watch out for is the “HTTPS” keyword before the URL of the website.
They can even change the URL’s name by changing the “o” with “0”, making it very difficult to get spotted. One way to avoid this is to search for the website name on Google and opening it right from there. You can also check whether the website’s connection is secure or not.
Cheap Coins
Another common scam that people fall for in the crypto world is those cheap coins. Coins you can buy in bulk without spending much money in hopes of making a considerable profit.
Scammers see this and try their best to exploit this inclination towards cheap coins. The scammers make their fake altcoins and put them on the market at a very reasonable price to steal your money. A lot of people fall for its low prices and invest a lot of money into it. The money is utilized by the scammers who disappear with the fake coin and the money.
To avoid these scams, make sure to research before investing. Run a background check of the basics of the altcoin and its circulation and maximum supply.
Email Frauds
Another common way scammer frauds you are by sending lucrative emails. They make the email look as if it 
has come from a very legitimate cryptocurrency company. To steal your funds, they offer you fake initial coin offerings. Therefore, a background check through their details is a must. Run a review on the web. Validate the company. Do you notice any irregularity in the email?
has come from a very legitimate cryptocurrency company. To steal your funds, they offer you fake initial coin offerings. Therefore, a background check through their details is a must. Run a review on the web. Validate the company. Do you notice any irregularity in the email?A standard Google search can give you a lot of information about such frauds. Scan through everything you get before replying. Most of the legit companies never send you such emails in the first place.
Malware
Malware affects all branches of computer technology, and cryptocurrencies are no exception. There is much malware specifically designed to use with cryptocurrencies. Most investors aren’t much familiar with them and fall quickly.
To keep malware at bay, ensure that your system firewall and antivirus are always active. They can provide you with a decent amount of spyware protection.
April 8, 2021
Comments Off on Crypto Users from South Africa should be aware of Cryptocurrency Scams
Any market that attracts amateur investors is prone to scams and misleading information. The same applies to the cryptocurrency market. Though it is present for quite some time now, it is still very new for a large chunk of investors. Scams are not only limited to new investors it also targets people with excessive greed. Although people involved in the crypto business know it is a hazardous investment. But we are not talking about the volatility where we have chances to earn money. You can find scams everywhere, and especially in a space that is still under exploration.
South African users are facing multiple crypto scams that are creating huge losses. A scam was 
recently covered by many news covering agencies around the globe. It was about an investment platform that acted like a professional investment fund. It also faked a team of high profit generating forex traders. This platform targeted South African investors through multiple mediums. After which, they also asked people to invest in their platform.
recently covered by many news covering agencies around the globe. It was about an investment platform that acted like a professional investment fund. It also faked a team of high profit generating forex traders. This platform targeted South African investors through multiple mediums. After which, they also asked people to invest in their platform.How were they operating?
So, this scam had multiple sockpuppet accounts. These accounts could be connected to the same scam. These accounts posted more than 43K tweets from their handles. To increase their reach, they continuously replied to high-profile peoples. This included many celebrities and public figures. There were few similarities between these tweets that caught the attention.
Firstly, all the fake accounts were promoting few identical traders. They even went so far that the portrayed traders were faking themselves to be South Africans. That’s not all. They even made fake testimonials to attract users. Here begins the crucial part. When a user shows interest, the accounts aim to get them on board. After which, they make these users deposit money into their accounts. That is how these scammers are fooling people.
What is the Government doing?
The 
government is spreading more awareness around crypto scams. They have acknowledged that the number of scams is rising day by day. They even lodged a release after 260,000 people lost their investments. The total number of losses amounted to close to billion dollars. The government also named all this a Ponzi scheme.
government is spreading more awareness around crypto scams. They have acknowledged that the number of scams is rising day by day. They even lodged a release after 260,000 people lost their investments. The total number of losses amounted to close to billion dollars. The government also named all this a Ponzi scheme. Investors are also lodging complaints to the FSCA (Financial Sector Conduct Authority). The authority received many complaints from crypto investors for investigation. As many investors are losing their savings into such scams. That is why the watchdogs should be more precise in safeguarding these people.
The FSCA tried to portray its message by informing investors about such scams. They even said that FSCA or any other South African body doesn’t regulate crypto investments. That’s not all, and they also said that the governing body won’t take responsibility for any such offenses. The FSCA also noted that people who have lost their money are most likely not getting it back.
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