Idaho Warns of Crypto Scams Promising 80% Returns Every 24 Hours – Featured Bitcoin News - BitcoinEthereumNews.com
The finance department of the U.S. state of Idaho has warned investors of a series of cryptocurrency scams promising returns as high as 80% every 24 hours with no risks to investors. Crypto Scams Promising High Returns The Idaho Department of Finance anounced Wednesday “a series of fraudulentncryptocurrency schemes seen recently targeting Idaho investors.” The regulator detailed: The companies purport to provide high returns with no risks to the investor. These fraudulent schemes are operating under the names and websites of Crypto FX Direct, Shield Investors Ltd., Quartz FX Trade, and Finvest Trading. At the time of writing, some of the schemes websites are already offline. The regulator added: These websites make outrageous, demonstrably false statements and claims such as guaranteed returns on investment as high as 65% – 80% every 24 hours. To begin investing with these companies, investors have to purchase an investment plan using cryptocurrency, the finance department described. One of the companies, Finvest Trading, charges between $500 and $100,000 to begin trading. Finvests investment plans. Source: Finvest “They offer profitable investments with any plan, and purport the more invested, the greater the return,” the regulator detailed, adding that the companies investment advisors provide investors with “phony credentials.” At the end of the agreed trading period, investment