The platform promised its users earnings of up to USD 13,000 per day in less than 20 minutes if using its alleged BTC trading software.
The number of scams is increasing while the world is experiencing Covid-19 pandemic. This situation happens since some criminals want to take advantage of this delicate situation. For this reason, some government entities have taken strong surveillance measures to avoid thefts on digital platforms.
In this way, the New Zealand regulatory body issued a statement raising an alert about a possible scam on the website called “Profit Bitcoin”. The regulator further reports that the number of cryptocurrency scams has increased since the start of the pandemic. Therefore, the public body warns its citizens about possible Bitcoin (BTC) investment scams.
The New Zealand Financial Markets Authority (FMA) published the statement last Tuesday, April 6th. This document claims that the web platform “Profit Bitcoin” conducts actions that may be suspicious. Besides, it suggests to the population to avoid investing in Profit Bitcoin.
The FMA statement indicates that the website promises its users a new method to get rich with Bitcoin. According to FMA’s indications, the platform explains that by using advanced software the user could obtain gains up to 99.4% accuracy in the BTC “trades”.
The Scam Included Government Authorities with Fake Movements
New Zealand authorities highlighted that the platform does not have the necessary permissions to operate in the country. The authorities also said that the platform, in turn, has all the signs of a common scam.
The official New Zealand regulator said in the statement that Profit Bitcoin committed serious infractions by including images of government authorities in its promotions. According to investigations by Theprofitbtc.com, which is the regulatory authority’s office, the platform would have used photographs of Jacinda Ardern, who is the Prime Minister of New Zealand, to promote the use of the software on some social networks such as Facebook.
Regarding what Profit Bitcoin specifically does, the statement reports that the platform is engaged in trading businesses with some of the most widely used cryptocurrencies on the market. But the alleged scam can be found in the software that the platform offers its users.
Once the user downloads the software “free of charge” (or free), some kind of deception could occur when giving personal data or trying to conduct a transaction. The false promise includes that the user could receive up to $ 13,000 in daily earnings just by registering on the page.
Besides, the software also includes the premise that “users will have a minimum of work”, so the platform offers its users less than half an hour of effort. “Profit Bitcoin members generally earn a minimum of $ 13,000 per day. Our members work an average of 20 minutes a day or less. Because the software handles trading, the amount of work required is minimal”, the stamen explains.
In this way, New Zealand authorities want to prevent its users and avoid more scams that could affect users.
By María Rodríguez