A new report by Binance sheds light on how scams targeting cryptocurrency investors attempt to gain credibility. The exchange noted that it is common for multiple scams to be branches of the same malicious operation. Binance has recently published a report that outlines how scams targeting cryptocurrency investors attempt to gain credibility. The exchange noted that its Binance Sentry – an internal risk intelligence unit – has observed reports of fraudulent investment schemes promising quick or exponential returns on cryptocurrency investments. In addition to cryptocurrencies, the schemes also advertise investment services in foreign exchange (forex), binary options or contracts for difference (CFDs). These schemes have often been the subject of regulatory warnings and sometimes operate under the facade of multiple, seemingly unrelated brands. However, it is not uncommon for several projects to be branches of the same malicious operation, added Binance. A few fraudulent entities go as far as to create “consumer organizations” to manipulate their victims into spending more money once they become suspicious of the original fraud. Scammers often impersonate regulators and state agencies to earn the trust of investors. Binance Sentry also noted that the nature of many of the scams makes legal action against them harder. [Scam] victims are often situated all over the world, living in jurisdictions that are different from the pseudo-services to which they fall victim. […] As one may expect, this not only results in an increased level of difficulty for law enforcement investigations but also complicates the process of establishing connections between victims. The report comes just a few weeks after a Bitcoin scam targeted the residents of Winnipeg, Canada. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Popular Ethereum wallet MetaMask boosts user privacy with new upgrade FX Street 3 years A new report by Binance sheds light on how scams targeting cryptocurrency investors attempt to gain credibility. The exchange noted that it is common for multiple scams to be branches of the same malicious operation. Binance has recently published a report that outlines how scams targeting cryptocurrency investors attempt to gain credibility. The exchange noted that its Binance Sentry - an internal risk intelligence unit - has observed reports of fraudulent investment schemes promising quick or exponential returns on cryptocurrency investments. In addition to cryptocurrencies, the schemes also advertise investment services in foreign exchange (forex), binary options or contracts for… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.