Bitcoin Loophole

The Bitcoin Loophole scam is rearing it's ugly head once more and it is more important to be aware of this offshore CFD broker scam than ever before. We take a quick dive into what the scam really is and how it works and where to be looking if you want to avoid offshore CFD broker scams like these and others such as Quantum AI.

Firstly, What is the Bitcoin Loophole Scam?

Well it is a scam based upon a few different ideas that are brought together in order to make a novice trader feel confident about investing money into a type of trading that they do not understand using a broker that they have never heard of before. In order to do this the scammers need to invent a fantasy where you will never lose your money. They need to use modern technological ideas to fool people into thinking that there is a technology that will make them win every trade they make and that there is no way that they could lose. To do this they bring together various technologies in the new, including, but not limited to, Bitcoin/Cryptocurrency, AI/Artificial Intelligence, Quantum Computing, Crypto Robots and Metatrader 4&5 which are trading softwares that are popular with day traders.

How Do These Technologies Create a Fantasy?

The first step is to blend these technologies together, like AI and quantum computing. Even though quantum computing is not even close to being advanced enough to generate an AI they will bring the ideas together to make out that they have an AI beyond Google or Open AI that can calculate much more quickly because it is a quantum system. Now in theory a quantum computing AI could achieve this but there is no Quantum AI computing system anywhere in the world or any quantum computer anywhere near capable of achieving this. The idea of fusing these these two technologies is something that people want to believe though, and that is why it is a powerful idea. it sounds convincing, and that is that matters in a scam. You don't have to make the technology real in a scam. They also often use celebrity names like Elon Musk or Gordon Ramsey to try and associate their technologies with trustworthy identities.

Secondly they use the idea of online cryptocurrency trading. An idea that has been in the news as a way of becoming rich without being experienced or wealthy to start with. These ideas all germinate together to make a fairly convincing case that a crypto-trading robot (an automated trading computer software) is a tangible idea and a possible candidate for increasing wealth.

What is the Fantasy Exactly?

The fantasy is a quantum AI crypto robot that trades Bitcoin and other crypto-currencies and does it without fail. That they have found a Bitcoin Loophole that allows them to make free money and that they are sharing this technology with a limited number of people for free whilst it is under testing. This is an important point too - that the time to sign-up is limited - so you are under pressure to make a decision before you have had time to properly think it through - it is a scam after all - and so you are involved with the scammers before you know what is really going on. These fantasies start conversations online as people share them as if they are real because everybody wants to believe that that they are. This i great for internet rankings and often helps these scams climb Google rankings.

How do they Sustain this Fantasy?

Well they have a lot of fake review sites that make up fake, affiliate reviews of their products to convince people they are real, like this one below taken from one of their affiliate review sites:

These reviews are usually of the same format that talk about which currencies you can trade and how much you can make but in truth there is no trading robot so you can't make any money. The fake reviews are just enough to push people to sign up where they then encounter the next stage of the sting.

Taking People's Money

The fraud stage is where you deposit your money into what appears to be a trading software resembling the usual meta-trader online trading software only the scammer's version is just a website rather than something you install yourself on your computer. The website will show that you have an account and that you have deposited your money. You will then see your money grow and you will come under increasing pressure to deposit more from your personal advisor who will tell you that you are going to make more money with a greater amount of money deposited.

Once they are sure you have deposited all o your money, they will try and get you to borrow or remortgage or whatever until you start asking about withdrawal. Once you have spoken that word, your account will suddenly experience a run of bad trades and your balance will dwindle. While this is happening they will ask for copies of your passport, your driving license, anything to delay the process. When they have run out of lies they will disappear and the numbers and websites will stop working. Then they will open another Bitcoin Loophole website with a different domain name, and the whole thing will start all-over again. That is the boiler room scam.