PrimeBTC dodgy?

[trevwhite]

Hi All


I came across primtebtc.io recently through a friend but it all sounds very dodgy to me. I tried to find information on the site and what it does but there isn't much talk around. I certainly did not find any positive reviews. I think its some kind of crypto trading scam but I have no evidence of that. It is just my feeling at the moment.


I am curious to know how these sites work. Do some people make money but more people lose money than make it? How are the trades done? Who controls the prices of the currency? How do you know the site is not making the trades up? Does anyone have knowledge of how these sites work as there seems to be no protection from them and I can not see how you are safe using them.


Trev

[Bud]

Another scam just happened on crypto currency market.

Edit: No, I did not own any of those "squids" 

[tszaboo]

Why do you want to use some F grade website to trade cryptocurrency? There are reputable websites and companies that you can use, just go there.

[Bud]

'Cause most of the "traders" are young adult punks, and have no clue about the meaning of the term "due diligence" .

[Bud]

Source: businessinsider.com

According to the SQUID project's whitepaper, the token is a play-to-earn cryptocurrency inspired by the South Korean streaming series where contestants play games that can end in riches or death.

That was quite symbolic, wasn't it.

[MrMobodies]

https://www.fca.org.uk/news/warnings/primebtc

Looks like it is not regulated:

PrimeBTC Warnings First published: 21/10/2021  Last updated: 21/10/2021
We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary of dealing with this unauthorised firm and how to protect yourself.

Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised or registered by us.

This firm is not authorised by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.

Unauthorised firm - PrimeBTC
Telephone: 0207 8801255

Email: support@primebtc.io

Website: primebtc.io

Be aware that some firms may give out other details or change their contact details over time to new email addresses, telephone numbers or physical addresses.

The 020 area code, including '0207' numbers, are belongs to London and the surrounding area.

I tried the site with an Amsterdam and US proxy and still the same phone number.

[Haenk]

Nah, that site is registered via GoDaddy - seems legit.

[Haenk]

SQUID scammer got away with >2 million USD

https://news.slashdot.org/story/21/11/01/2115233/squid-game-cryptocurrency-scammers-make-off-with-21-million

Nice payout for little effort, I'd say.