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Wednesday, 23 August 13:20 (GMT -05:00)



Foreign exchange market

Another Bitcoin Fraud Is Caught


Crypto currencies are controversial. On the on hand they give investors a decent investment opportunity. On the other hand, the may be way too risky. Often times, those are both market and even non-market risks, including fraud.

 

 

 

 
In some of the previous articles, we recommended you to start with a sound financial strategy and risk management before you invest even a penny in crypto currencies. We are not trying to say that those are bad investments. They can make you money if you really know what you are doing. However, you should be really careful about it since the advantages of decentralized and anonymous currencies may turn into disadvantages and loses for your wallet.
 

 

Biggest Crypto Currency Scandals 2017
 

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To start with, let’s recap some of the biggest scandals related to crypto currencies in 2017. Those caused a lot of troubles to both investors and average users.
 
Number one is all about Ethereum. For those of you who don’t know, this new crypto currency suddenly crashed from $370 all the way down to $10 not so long ago. Needless to say that all the investors were shocked. Most exchanges temporarily suspended transaction based on this currency. Later on, Ethereum recovered to $350, only to see another plunge down to $222. Experts say, this was all about speculative transactions designed to make the greedy traders richer. The market capitalization deflated from 110 billion dollars all the way down to around 90 billion dollars.
 
Number two is related to the owner of Bitcoin exchange Coin.mx, who was sentenced to 5,5 years in prison for money laundering with the help of this exchange (the amount is around 10 billion dollars).
 
Number three is all about China. The thing is, the People’s Bank of China has recently toughened the regulation related to crypto currencies as well as the local exchanges working with them. Before that, Chinese exchanges were the biggest and most active on the Internet. Since the regulator has been investigating into several cases related to money laundering, those exchanges were ordered to suspend offering leverage and introduce certain fees. All of that resulted in a massive flight of client capital.
 
Number four is virus Petya blocking infected PCs and blackmailing the users asking them to transfer them $300 in Bitcoins for unblocking the software and data.
 
Number five is related to Freewallet. Many of the users have found their funds missing. The total damage is over 8 million dollars.
 
Number six is about cryptocurrency HYIPs artificially increasing the yields to attract more of those unsuspecting investors, with further blocking the accounts and transferring money to anonymous accounts.
 
All of them are just some of the biggest cases, but this is just the beginning of a rather long list of scandals this year. Not so long ago, the list got even longer. The thing is that another crypto currency fraud was caught in the UK.
 

 

Fake Crypto Currency Exchange
 

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It is interesting to note that Renwick Haddow was previously accused of fraud in the UK but he decided to change the location and switch to American investors. This time, the SEC and the U.S. Department of Justice managed to catch him red-handed. On June 30th, the SEC accused him of fraud in New York where he was residing at that moment. In particular, he was accused of scamming the clients of 2 fake companies by creating a fake crypto-currency exchange without registering it with the SEC, which is a serious violation.
 
The essence is that he ordered his assistants to call potential investors and sell them assets through Bitcoin Store Inc. and Bar Works Inc. According to the scammed investors, they were informed about experienced top managers of those firms, which was a lie. On top of that, the financial reports were corrupted. By using those fake companies and a fake exchange, he managed to accumulate serious amounts of money, 80% of which was transferred offshore. Attracting tons of money over a short period of time became possible due to the fact that he was promising his victims really big payoffs.
 

 

The bottom line is, think twice before you decide to invest in this risky business. Never do it if you don’t know what you are getting into. And even if you are about to invest in stable crypto currencies, make sure that you are dealing with honest companies.

 

You are free to discuss this article here:   forum for traders and investors

 

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Bitcoin Sets New All-time High, Experts Predict Market Crash

Bitcoin is reported to have set another all-time high. In particular, the exchange rate exceeded $4000 per 1BTC. At the same time, more and more experts start predicting another crash in the Bitcoin market.
 

 

For those of you who don’t know, since early August, Bitcoin has already gained 60%. Which is even more amazing, the world’s number-one cryptocurrency has quadrupled in value since early 2017.
Publication date: 21 August 02:19 AM

Dukascopy Bank on Bitcoin Future after Bitcoin Split

On August 1st, 2017, the entire world of cryptocurrencies changed. The thing is that from now on, there are 2 forks of the world’s first and most popular cryptocurrency, which also enjoys the biggest market capitalization among its peers. We are talking about Bitcoin (BTC) and Bitcoin Cash (BCC). The split was followed by increased market volatility for both currencies, which was mostly of technical nature caused by the circulation of Bitcoin Cash rather than the classic supply and demand, experts say.

Publication date: 15 August 09:11 AM

Masterforex-V VIP Traders’ Performance. July 2017

The unbeatable FX strategies mentioned in a brand new book on the secrets of Forex investing by Masterforex-V keep on making both traders and investors richer. By the way, the yield in this case is way bigger than the one you can get by investing in bank deposits or any related low-income investments. The very essence of this kind of investing makes it possible to avoid poor and hasty decisions, thereby leveraging the entire process. By the way, VIP accounts have been among the top 10 accounts available for auto-copying at pro-rebate.com.

Publication date: 09 August 05:33 AM

UK Ready to Pay 40 Billion Euro for Brexit

The international expert community along with mass media keep on trying to evaluate the cost of the Brexit for the United Kingdom. The most popular version is that quitting the European Union will cost Great Britain around 40 billion euros. In particular, this idea is advocated by Deutsche Welle.

 

 
At the same time, The Sunday Telegraph claims that the specifics of the financial compensation to Brussels will become the catalyst for the Brexit talks. While referring to the high-ranking sources in the British government, The Sunday Telegraph reports that the government is ready to pay the EU up to 36 billion pounds, which is around 40 billion euros. This is the sum is intended to cover the UK’s financial liabilities to Brussels.
Publication date: 08 August 09:29 AM

Masterforex-V Expo Names World’s Best Brokers for Beginners in July 2017

Along with required knowledge and skills, the broker makes up the lion’s share of the trader’s success in the Forex market. That’s why choosing the right broker right off the bat is so important.

 

At the same time, most of the traders joining Forex to start making money often lack the required experience to make the right choice. On top of that, most of them are convinced that all the brokers are the same, which is why they ignore the significance of making the right choice and make this choice randomly.
Publication date: 08 August 03:54 AM

Bitcoin Exceeds $3300 Threshold

Bitcoin, which is the world’s first and most popular crypto-currency, started another strong rally a few days after it was split into 2 versions. According to Coindesk, the classic version of Bitcoin exceeded the $3300 threshold and set another all-time high at $3319. The thing is that the market capitalization of Bitcoin has been growing continuously ever since the mentioned split.

 

 
Publication date: 06 August 11:48 AM

Continuous Rally Shown By Crypto Currencies As Investment Opportunities

The phenomenal growth seen in crypto currency markets has become one of the leading tendencies of the year. Some of the crypto currencies have seen their value grow by 100%, 200% and even more. As for Bitcoin, which is the world’s first and most popular crypto currency, back in January 2017, it cost $1000 while in early July it cost over $2600.

Publication date: 29 July 01:00 AM

Alpari Increases Trading Turnover Up To $600,9 Billion In 6 Months

The international FX industry has recently been involved in a number of scandals. Against this background, we can only name a few companies with positive dynamics, efficient market products, and major license.

Publication date: 27 July 01:18 AM

Will European Parliament Help IronFX Victims?

Europe’s leading financial regulators have recently been founding them involved in various scandals. TheFinancial Conduct Authority (FCA) from the UK and the CySEC from Cyprus are some of them. The truth is, while those companies claim that they defend the customer’ rights, in reality they often take the broker’s side even though the broker may be playing dirty tricks on the customer.
Publication date: 20 July 03:19 AM

In June 2017, Masterforex-V Investors Made Money Again

The unbeatable FX strategies mentioned in a brand new book on the secrets of Forex investing by Masterforex-V keep on making both traders and investors richer. By the way, the yield in this case is way bigger than the one you can get by investing in bank deposits or any related low-income investments. The very essence of this kind of investing makes it possible to avoid poor and hasty decisions, thereby leveraging the entire process. By the way, VIP accounts have been among the top 10 accounts available for auto-copying at pro-rebate.com.

Publication date: 13 July 09:38 AM