New Zealand’s Financial Markets Authority Warns Public of Potential “Profit Bitcoin” Scam

New Zealand’s Financial Markets Authority (FMA) announced on Monday it has concerns about the website “Profit Bitcoin” has the hallmarks of being a scam. The organization revealed it was made aware that the digital currency platform is advertising on Facebook by promoting false news about the government’s initiatives with an image of New Zealand’s Prime Minister, Jacinda Ardern. The FMA confirmed:

Profit Bitcoin is not registered as a financial service provider in New Zealand and is therefore not permitted to provide financial services/products to New Zealand residents.

According to its website, Profit Bitcoin promises returns by using software with a claimed 99.4% accuracy. The platform also offers investors trading services with cryptocurrency on its proprietary platform and a copy of its software “free of charge.” Profit Bitcoin claims that members typically profit a minimum of $13,000 daily (the website also shares how much users are making at the moment at the top of the main page). 

“Our members work an average of 20 minutes a day or less. Because the software handles the trading, the amount of ‘work’ required is minimal.”

Profit Bitcoin then noted there are no hidden fees as well as no broker fees or commissions. All of the user’s money is 100% theirs and they are free to withdraw it at any time they choose without delay. The platform also notes on its website:

The PROFIT BITCOIN is a group reserved exclusively to people who jumped on the insane returns that Bitcoin offers and have quietly amassed a fortune in doing so.”

According to CoinTelegraph, FMA has warned against only one website, theprofitbtc.com, which appears to be the same scam that is using several domains such as www.the-profit-btc.com. The Bitcoin Profit scam has also exploited fake endorsements by Richard BransonElon Musk and Bill Gates as part of its marketing strategy in the past.

Sponsored Links by DQ Promote


Send this to a friend