Besides fake twitter accounts claiming to send free Ether and Bitcoin and also scammers sending fake emails to ICO investors, cryptocurrency scams are increasing at an alarming rate. Even Apple’s co-founder, Steve Wozniak, lost seven Bitcoins to an internet fraud. The newest organization to enroll in the growing list of scammers is BTC global. The binary alternatives buying and selling platform reportedly pocketed more than $50 million Bitcoins from people in South Africa, the US, Australia and others.
More than 27,500 people filed a case against the organization in South Africa’s Directorate for priority Crime investigation, commonly known as the ‘Hawks‘. According to spokesperson Captain Lloyd Ramovha, he says that he has spoken to one of the investigators in the group and he has mentioned that this issue got to them weeks ago. He also says that there are too many complaints of about 27,500 people who are not in South Africa.
What’s BTC international?
BTC global was released in Sep. 25, 2017 with the aid of ‘famous’ trader Steven Twain. His success in binary option trading led people to trust that the platform was sincere. However, the set-up was criticized and referred to as being a scam ever since it was launched. Reviews said the “unmatched returns” offered with the aid of the company.
BTC global first allowed people to buy BTC from the platform, followed by a suggestion to spend money on their organization to get 2% to 14% returns weekly. Victims told South African newspaper times that their investments differed from $1,341.92 (R16,000) to $0.1 million (R1.4 million).
To begin with, people have received dividends that had been unpredictable; two weeks ago, Twain disappeared from the net world. People straight away started out reporting the company and investigations began days later. Ramovha defined the scenario, “The investigation is in its infancy. I also cannot say whether it is a Ponzi scheme. BTC Global is being investigated for contravening the Financial Advisory and Intermediary Services Act.”
The rest of the team posted status update on facebook and also a announcement of a websites. According to BTC, payment information were sent to Twain as per routine on Feb. 18, 2017, but the team didn’t get an answer from him. Since then, no person in the management and admin group has heard a word from Twain. The statement in addition said:
“The admin team cannot locate him. If anyone has ANY information on how we can get in contact with him please get in touch and let us know. We call for the threats, harassment and violence on leaders and admin to stop. It is unfathomable that people can behave like this. If you feel you’ve had a crime committed against you, you need to follow the legal procedures to deal with the matter. We are as shocked and angry as everyone. But we all knew the risks involved in placing funds with Steven. We all became complacent with Steven. And all of us funded him independently. Until Steven Twain resurfaces or is found there is nothing the admin team can do.”