As a fund recovery firm with a decade of experience and with over $19 million recovered so far, we at First Option Recovery are posing a question in front of you. Did you know that 97% of the crypto startups don’t have a working prototype and is simply a rip-off of an original one? In other world, there are a lot of cryptocurrency scams that one doesn’t know about.
Sounds fake but it’s a hundred percent true. And why wouldn’t it be? Our team at First Option Recovery (all thanks to the 128+ attorneys that we are currently associated with and over 3000+ cases from which we have recovered funds), after months of research across all crypto domains in 22 countries, finally devised the stats that would be really difficult to believe.
The crypto startup bubble including the bitcoin bubble is nothing but a stage where the play “Comedy of Errors” is being broadcast on a regular basis. The persons who take part in the play are fake review sites, actors who ask their fans to invest in a particular cryptocurrency and a paid marketing team who keeps on publishing fake news as to how one can become rich quickly over a short span of time. Sounds funny, owing to the fact that we at First Option Recovery end up acting as the police and bust all those cryptocurrency scams on a regular basis. Little do these guys know that once the money is invested, it might eventually lead to the guys running away with all your money at one go and you will be left with nothing but depression and despair.
One of the biggest cryptocurrency scams of all time, BitConnect worked on similar levels where it was labeled as an “Ethereum Killer”. Very few investors were able to figure out about BitConnect being a Ponzi scheme, because of its multi-level marketing structure, high payouts and celebrity endorsements. The interest rate fluctuated greatly with the volatility of Bitcoin, which was tied to its value. In spite of the team of advisors at First Option Recovery already figuring out the fraudulent nature of Bitconnect way before, many investors still fell for it and lost their money.