BTC Fraudsters Lure Victims On Trading Platform With Sheikh’s Name

BTC Fraudsters lured some innocent citizens of Abu Dhabi into investing in a trading platform that had the logo and the face of the Sheikh Mohamad bin Zayed who is the Crown Prince of Abu Dhabi and the Deputy Supreme Commander of the Armed Forces. Let’s get into it some more in the altcoin news below.

According to the UAE medium outlet-the National, the BTC fraudsters operated from Ukraine and Argentina and told the victims that the Crown Prince wants to help the people by making them rich by using the Bitcoin trading platform. The fraudsters even included a quote that the Prince never actually said, saying that this is his way of giving back to people. The Bitcoin trading platform which was actually fake, claims that the users could have made up to $13,000 in less than 24 hours. According to the website of the scam platform, people could earn these profits with the help of Bitcoin trading bots:

 “The best part is that anyone can use it and make money – even if you have never traded before or if you are a seasoned professional.’’

Despite the marketing scam with the Crown Prince of Abu Dhabi, his name is nowhere to be found on the scam website. The creator of the fake automated trading platform was the only one mentioned. According to a Google search, Steve McKay is not even a real person but the scammers used a stock photo from Shutterstock in order to lure the victims into believing that he is the creator of the platform.

As noted in the latest cryptocurrency news, the National wrote that the precise number of the victims is still unknown since the scammers successfully scammed thousands who invested their personal details and money to the scammers. The post was also sponsored on Facebook and had more than 8,100 comments and 37,000 reactions. The fake story included a fake article saying that a person named Michael Alvarado made up to $7,080 with the trading platform in only two weeks. The scammers also used an image of the US-based freelance journalist Timothy Seppala who already confirmed that his photo was used without his permission.