We have identified as Binarycoin coin operating without a valid regulatory financial license and has therefore been flagged as a potential crypto scam.
Cryptocurrency Binarycoin coin Scams are on the Rise as Popularity for Digital Currencies Continues to Increase
Binarycoin coin scams are an unfortunate reality following the introduction of digital coins just over a decade ago. Binarycoin was developed as a decentralized alternative to the traditional banking system, however the ability to easily transact globally free from a centralized system brought opportunities for criminals to exploit this new technology.
Traditional financial systems have an endless number of scams, however in most instances, victims have a certain amount of recourse in the traditional banking system. Not so with Cryptocurrencies. With no support or insurance policies set in place, victims are only left with the painful loss of their digital assets.
Binarycoin coin Trust Level:
These scams can take multiple forms:
- Ponzi schemes – enrich a few at the expense of many
- Cloud mining schemes – promise big profits in a localized mining operation but generally unable to keep to their word
- Phishing scams – specifically designed to target and steal investors cryptocurrency
Suspicious Actions to Suggest Binarycoin is Operating a Crypto Scam
- Your account has been blocked
- Your account has been frozen
- You cannot log into your account
- Funds have disappeared from your account
- You cannot contact your broker
- The company website is down or inaccessible
- Money has been taken from your bank account without your knowledge
- Binarycoin is offering you free token or a bonus
- Binarycoin is pressuring you to invest more money following a big loss
- Binarycoin is offering you bitcoin or altcoin to continue with their services.
How to Report a Scam against Binarycoin coin
A successful funds recovery effort following a cryptocurrency scam starts with reporting a scam as soon as possible. Fill in the form and we will arrange for a representative to contact you to help you report a scam and get your fund recovery efforts started.