Fraudulent Crypto Brokers

Fraudulent Crypto Brokers are a persistent problem within the industry. They are easy to identify, as they typically solicit victims through social media posts. These scammers will convince their victims to fund their accounts through legitimate exchanges, only to withdraw the funds to their own wallets. Although the risks of working with such fraudulent companies are high, there are steps victims can take to protect themselves.

Squid coin scam

When the Squid coin scam broke out, it caused a wave of panic among investors. Approximately 40000 people held the currency and lost all of their money. This can happen with any blind investment. To avoid the scam, investors should avoid investing in Squid. The website for the currency has been removed and the promoters are unable to be reached for comment.

Squid coin scams usually involve an initial investment of around $1,000. But after a recent spike, the price had increased to $2,860. The underlying scam was that investors were promised to get paid for appearing in a simulated game. After an outcry, the creator of the game refunded the money, but the coins were soon lost.

To avoid being duped by the Squid coin scam, be aware of the warning signs and don’t buy Squid tokens without due diligence. As with any investment, research the company and the investment before committing to a decision. The Squid coin scam is a big business, and a significant amount of money has been lost already.


If you are thinking about investing in cryptocurrencies and you’ve been considering TitanTrade as a potential broker, you need to be extremely cautious. The company has a low quality license and has a reputation for letting its customers down repeatedly. They also rarely follow up on complaints, making them a bad choice. Ultimately, you should avoid them at all costs.

We looked at the firm’s reputation holistically, from social media and regulators to news stories and industry experts. While TitanTrade does not have a good reputation, it’s important to remember that they’re not the first broker to fall victim to a scam. We compared the company’s reputation to other reputable cryptocurrency brokers and made a thorough assessment of the company.

We also recommend that you avoid registering with unregulated brokers. While they may be a little cheaper than a legitimate broker, they won’t give you the security and stability you expect from a regulated company. In fact, these brokers are breaking European laws by accepting clients.

Rug pull scam

A rug pull scam occurs when a developer creates a crypto token, and then later withdraws its liquidity and disappears with the investor’s money. Many scammers have used this method to get their share of cryptocurrency investors’ money, but the scam can be tricky to identify. Fortunately, there are ways to avoid this type of scam.

One example of a crypto rug pull scam is Squid coin, named after a popular Netflix series, in which investors bought tokens to play an online game and then exchange them for other cryptocurrencies. The Squid token rose in value from a single cent to up to $90 per token before trading stopped. However, when investors tried to sell their tokens, they found that their money had gone. This scammer managed to defraud investors of $3 million.

Rug pull scams are one of the most popular cryptocurrency scams. However, not all of them begin as DeFi projects. In fact, the biggest 2021 rug pull involved the Turkish CEX Thodex, which lost over $2 billion in crypto. The other 2021 scams, including AnubisDAO and Uranium Finance, are all DeFi projects. Luckily, investigators have become increasingly efficient at catching scammers and prosecuting them.

Pires and Goncalves

Two Brazilians, Emerson Pires and Flavio Goncalves, have been indicted in the U.S. for their alleged involvement in a massive cryptocurrency fraud scheme. The SEC and CFTC have announced civil and criminal enforcement actions against the two men. The charges stem from allegations that the pair mismanaged investors’ funds and converted them for personal use.

These two men allegedly ran a global Ponzi scheme that took advantage of vulnerable investors to launder money and get rich quick. The DOJ alleges that these individuals defrauded their investors out of $100 million. They are also accused of laundering their profits through a foreign cryptocurrency exchange.

As a result of their fraudulent practices, their victims are now entitled to compensation. The victims of this scheme can expect to receive a payout soon.