Boiler Rooms

Auto-CryptoTrading site scams are a common way to bring in people to the boiler room scams and are just the same scam as any of the Bitcoin xxxx scams with the same tactics, the same websites and the same scammers.

Profit Build and Profit Edge are ways of tempting you in to a boiler room scam which is one of the most dangerous financial scams around.

Through a combination of psychology and lies they force you to give them all of your money.

In the modern age this is often by gaining control of your computer and transferring you money into cryptocurrency so that they can move it between different cryptocurrencies and make it difficult to trace where it is sold. This is a simple way of laundering money into the Russian mafia or elsewhere.

Typically these companies are registered in places like St Vincent's and the Grenadines or other nations where the rules are demonstrably made specifically to harbour criminal enterprises.

The actual call centres are typically within your own country and the contact details for them to call (because the bullying and abuse required to get your money is most easily conducted by phone) are harvested across some of the most trusted sites on the web, including Google, FaceBook and Twitter.

Let's look at an example.

Google's Google Ads system is a favourite of theirs, so let's see what keywords they are advertising with today:

Let's try Bitcoin:

 

OK so you can see that CFD brokers are advertising under Bitcoin, but they do announce on their ad that 72% of people lose money so we will have to put up with that being allowed. CFDs are highly complex trading contracts and not for beginners. They are also open to a lot of misuse br dodgy brokers and what you lose goes straight to them, so the temptation for them to defraud you is high, and it is difficult to prove as the brokers make the rules and the small print. It is good to see that Google are not advertising the boiler room boys under this search.

Now let's try Bitcoin Profit as our search term:

 

OK, so here they are. If you look at the bottom result, you can see it is supposedly a website called aliveinvestment.com telling us that Bitcoins work and they have 80,000 satisfied customers. Let's see what happens when we click that link:

OK so it takes us through to a page designed to harvest contact details for boiler rooms scammers to call. This one is called Bitcoin Profit and is at: https://bitcoinprofit.investment-club-eng.com/new2/

 

As you can see, every emotion is attacked by these people. Fear, insecurity and greed are all employed to get your details with a typical 'time is limited' message at the top to pressure you into making a terrible mistake.

These are the same scammers that use Good Morning, Martin Lewis, Elon Musk, Holly Willoughby and Akshay Philips to try and defraud people with their boiler room scams.

There is no such thing as an 'autotrader'  that makes money every time and every one of these sites has the same disclaimer at the bottom:

IMPORTANT: Earnings and Legal Disclaimers Earnings and income representations made by bitcoinprofit.investment-club-eng.com, (collectively “This Website” only used as aspirational examples of your earnings potential. The success of those in the testimonials and other examples are exceptional results and therefore are not intended as a guarantee that you or others will achieve the same results. Individual results will vary and are entirely dependent on your use of bitcoinprofit.investment-club-eng.com. This Website is not responsible for your actions. You bear sole responsibility for your actions and decisions when using products and services and therefore you should always exercise caution and due diligence. You agree that this Website is not liable to you in any way for the results of using our products and services. See our Terms & Conditions for our full disclaimer of liability and other restrictions. This Website may receive compensation for products and services they recommend to you. If you do not want This Website to be compensated for a recommendation, then we advise that you search online for a similar product through a non-affiliate link. Trading can generate notable benefits, however, it also involves the risk of partial/full loss of the invested capital, therefore, you should consider whether you can afford to invest. ©2021
USA REGULATION NOTICE: Trading Forex, CFDs and Cryptocurrencies is not regulated within the United States. Invest in Crypto is not supervised or regulated by any financial agencies nor US agencies. Any unregulated trading activity by U.S. residents is considered unlawful. bitcoinprofit.investment-club-eng.com does not accept customers located within the United States or holding an American citizenship.

 

And here is the cause of the problem: This Website may receive compensation for products and services they recommend to you. 

This site is an affiliate of a boiler room scammer, pretending to be a CFD broker. The nature of CFDs allows boiler room scammers to hide behind the law as CFDs are such a scam that you can just point at the legal disclaimer and say I told you so' to get out of prosecution for fraud.

These affiliates are paying as much as $700 USD per victim to affiliates and so the lengths they will go to and lies they will tell are unbelievable. If they can get three victims a day that is a million dollars a year! Just for running a website.

The most advanced website scammers actually have two factor authentication to be sure they are getting a real phone number so that the boiler room boys can be sure they can victimise someone and so be sure of their $700 fee for every successful contact number harvesting.

So you can see the problem...

But the scale of the problem is quite astonishing. Let's do an exact search of google for part of the disclaimer, as that is most likely provided by the affiliate system, and will be identical for all of their affiliates. We will search for "The success of those in the testimonials and other examples are exceptional results and therefore are not intended as a guarantee that you or others will achieve the same results."

As you can see at the top, there are 1,830 results with that exact text on. This is truly unbelievable for such a concise search of such length. Every one of those 1830 websites is either a scammer affiliate for a boiler room scam, or they are warning of the existence of these website scams.

What is the solution? CFDs need to be outlawed for retail accounts worldwide to protect us. They do not need to be made illegal to professional traders, just to retail accounts. Once this is made law in enough countries, the scammers will have to remove all of these websites as they will be illegal in every country which reads the language in which they are written.

Is this an attempt to bring about internet legislation? Maybe..