Cryptocurrencies are currently a gigantic hype in social media thanks to Elon Musk and other celebrities. Within just under two months, the price went from $20,000 to nearly $50,000. The bull run seems to have no end. Therefore, it is easy for scammers and their boiler room agents on social media to acquire new customer victims for their crypto scams. BTC-Markets (www.btc-markets.com), operated through the offshore entity Sunstar Holdings Ltd in St. Vincent and the Grenadines, is one of these scams. Many victims have already fallen for it.
BTC-Markets is a “normal” CFD broker scam dressing in fashionable crypto clothes. The funding of the scam can only be done via Bitcoin. The BTC-Markets scam calls itself a “money-making machine” and promises that “your future begins today.”
Oh yes, of course, these bold statements are selling on social media. Therefore, it is no wonder that on a single BTC Blockchain address, 1GwJVFgX31pyhL8W3JyBkfh1GC8hDH3LAh has already received more than BTC 28.5 (equivalent to about $1.4M) as of February 16, 2021 (screenshot left) from client-victims. While your funds are gone for good, your tragedy for sure will start when investing in this scam.
We are sure that there are other BTC addresses, and the scam has already stolen many millions from retail investors.
The Austrian regulator FMA issued an investor warning against BTC Markets just recently. Do not fall for this scam and share your experience with FinTelegram.