So this is serious, there’s a huge scam going on it’s called binary options it’s also known as a crypto trading scam and this has been defrauding people out of not just millions not just tens of millions but hundreds upon millions of dollars. People are being defrauded by by this big freakin scam Ponzi scheme whatever it is. Now, I’m gonna sort of go in depth and kind of expose a bit of this scam it’s been written about but I want you to understand how this scam works so you can prepare yourself and safeguard yourself from falling victim to this that is taking tons of money from tons of people it’s very sad. So the scams name is binary options and I’m gonna go over a few different tells of what is going on with this scam and I’m also gonna show you a few ads right here on my computer of what these sites look like and so you can know how to avoid them when they show up. Now the first tell of this is of this scam is it goes under the term binary options but that’s actually changed a lot because it’s also goes under the name of crypto trading now.
A lot of people say you can trade crypto currencies and how it works is you’re offered a free trading account. It’s usually marketed on the Internet you can get a free trading account that will make you lots of money. Now after you setup your free trading account you’ll start getting calls from telemarketers that will ask you to deposit a small sum of 250 dollars into your account to start trading it so you can have the robot make you more money. Now, here we are in my computer and you can see here’s an example of one of the ads that ran so that runs for this sort of scam now there’s millions of variations of this sort of ad oftentimes this is sort of the bad side of affiliate marketing there are a lot of affiliate marketers that purport this this scam and profit for themselves and they also use illicit methods of advertising such as cloaking and black hat advertising and all this other sort of stuff. So oftentimes the way this works is celebrities re orm is appropriated in this case this British person right here I guess he’s a famous journalist is used in this ad.
Another thing they’ll hate me for investing in this all you need is a hundred and eighty dollars and an internet connection. Okay? All you need is a hundred and eighty pounds and an internet connection again one hundred and eighty pounds is the equivalent of two hundred and fifty dollars so all of the numbers usually all you need is about this much amount of money and they’ll say all you need is that and an internet connection. I’ll go into detail how the scam gets millions of dollars out of people in a second. What you’ll see is here’s an example of one of the pages, Martin Lewis lends a hand to British families with revolutionary Bitcoin home-based opportunity. So again the scam it used tobe known as binary options it’s gone into crypto and Bitcoin territory but the way it works is they get you to deposit a menial sum of two hundred and fifty dollars into a trading account but after a while what happens is the traders will say such as you turned that hundred and fifty dollars into a thousand dollars.
They’ll say great they’ll say let’s go all in and they’ll ask you to deposit increasing sums of money and they’re incredibly resistant to you letting any of the money go out. So the way it works is they keep making you seem think you’re making lots of money. Your trading account shows it you’re making thousands and thousands of dollars and they ask you to keep putting in more and more and more of your income to make more and more money faster. The reality is that you’re not actually making any money and they’re just trying to get as much of your money as they can until you start saying that you want to withdraw. Now what happens when you want to withdraw your money is they start going cold turkey on you and they send you to a different department who you’ll never get your money back. the point being the whole scam is purported in Israel and they will never allow you to get your money out in fact every dollar you put into the binary option or crypto or Bitcoin trading account is gone.
It’s gone, it’s gone into commissions to affiliates, to sales people and to the company owners who set everything up in Israel. Now this scam is not allowed in the US in fact the Israeli companies won’t touch the US. because the US has such vast authority over the world justin terms of military might and whatnot. The securities and Exchange Commission’s you can see I’m actually on a website I’m on investor.gov right here and they have a whole section about binary options fraud and they say you can quickly lose money and the problems with it are as follows refusal to credit customer account or reimburse funds. identity theft manipulation or software to generate losing trades exactly what I’m talking about.
Overstated investment returns now all of these options just touch the tip of the iceberg and the article that says it best for this entire scam that has built hundreds and hundreds and hundreds of millions out of customers wallets is actually here on The Times of Israel website. You’ll see, it says the Wolves of Tel Aviv Israel’s vast amoral Binary Option scam exposed. Now, I once knew embarked etre that actually ran one of these companies and I actually visite done of these companies once when I was visiting Israel. He was a friend of a friend and he was supposed to show me a good time in Israel and I visited his office in Maybach to see how everything was going it’s crazy. The salespeople are all young Israeli guys they’re making gob loads of cash they have no morals all they’re doing is trying to take as much money as possible from old people’s in many cases bank accounts.
This article details it perfectly the wolves of Tel Aviv Israel’s vast a moral options scandal exposed and they go into detail about the lavish office spaces that these companies own the working conditions, how they lyin eyes you know the wolf of Wall Street and you know Jordan Belfort Jordan Belfort speaks of these companies let’s look at some of these things . So you see right here it says Lynn’s job was to call people who had paid $200 to use the robot and persuade them to deepen their involvement. Now the thing is these companies the way they start the way the salespeople figure out how much money to deepen that involve ment for is they don’t build up the price they ask you how much money is in your entire bank account.
It gets worse they’ll ask you how much money is in your bank account and then they’ll ask what is your credit limit and how many credit cards do you have. They don’t just go for all of the money in your bank account they go for all of the money that you have any sort of access to they go for everything and what they do is in Israel they just pay it out in tons of commissions to their salespeople and affiliate marketers also cash in on some of the money here. Here’s a from a former employee of one of these companies he said I was told to tell people I had years of experience in the market that I had studied at Oxford and worked for the Bank of Scotland. This scam, this scam is the most sociopathic scam that’s around on the internet right now it’s awful what’s going on these companies these binary options companies out of Israel.They can only operate out of Israel because Israel is the only country that will allow these companies to exist are a complete disgrace and you need to watch out for this scam and it’s amoral it’s awful and it’s stealing hundreds of millions if not billions of dollars from people who can’t afford to give away that sort of money it’s taking people’s retirements away from them. Now I’m gonna leave a link to this article in the comments below. if you know anybody who has been taken by this scam or similar scams let me know in the comments below I’d love to know what happened and also if you’d like me to expose more of these kind of internet scams that are being purported let me know because I will expose more scams that I know of from my years of experience of working on the Internet. Also give this video a big like if this was helpful in any ways and also subscribe to my channel if you’d like to learn more about legitimate ways to earn money as an affiliate marketer.
