DES and tech police warn of fraudulent Bitcoin trading scams

[webfact]

Picture: INN

 

INN reported from a press conference attended by the Digital Economy and Society Minister Chaiwut  Thanakhamanusorn, tech police and a representative of two victims of online fraud. 

 

The subject was online trading platforms dealing in Bitcoin. 

 

One victim said they had been sucked in through getting profits on investements of just 50 baht.

 

Eventually they lost 218,791 baht.

 

It involved a site called The One.

 

Chaiwut said many such sites were in the process of being taken down and warned people to be careful of online investment scams. 

 

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[Chivas]

Trouble with all these crypto coins no matter which one is that in short there is no "asset backing" and more to the point little or no regulation

When the proverbial hits the fan there is no one to turn to

 

I had the mother of all problems with Coinbase a year ago when they simply blocked the account pending a "review" no live chat no telephone support no nothing bar email that sent me around in ever ending circles. 3 months later notification received "all good" and that was that......farcical situation

 

Now I am happy to acknowledge that I have made money from Crypto and continue to do so (in limited amounts) but people need to be aware that if you wake up one morning and find your "wallet" empty welcome to a world of issues

 

If you take an "established" coin and watch its trading pattern highs and lows (Bitcoin obviously one) than yep money can be earnt. Personally I stick solely with $Ren (not because its any different from the rest) but if you go for a blind scattergun approach expect to lose the lot over time

 

Remember you are buying something floating around in cyberspace and nothing more

[Jenkins9039]

1 hour ago, webfact said:

Chaiwut said many such sites were in the process of being taken down and warned people to be careful of online investment scams. 

Hub of CryptoScam take downs coming.

[GrandPapillon]

The "compliance review" scam is a way to use "funds" of their customers to "maintain" their operations,

 

it's not limited to cryptos, this is also happening in some European new startup micro-banks with free credit cards, they will block your funds "pending some review" and wait 1 year before releasing your balance.

 

It turns out they use the funds in marketing payouts to lure new customers. It's really another form of Ponzi.

 

a lot of criminals investigations after thousands of complaints against those micro-banks, so be very careful not to put too much money in them, usually less than 100 EUR should be ok.