Be careful with the cryptocurrency scam Coinjer!

There are quite several cryptocurrency scams in the market. And one of them is Coinjer. The cryptocurrency scam Coinjer works primarily on Telegram channels and tricks people into coughing up Bitcoin to receive more.

Cryptocurrency scam Coinjer: The more Bitcoin you invest, the more you get back

Compared to its elder BitConnect, Coinjer is just a small Bitcoin scam project in the market. They will write content that is primarily committed to providing Bitcoin rewards but ultimately does not pay, as well as many other cryptocurrency scams. Although it sounds complicated. However, cryptocurrency scam Coinjer has a lot in common with old mail-order scams, which requires a payment to release the promised price. Even after paying up, the scams would typically continue to withhold the money.

Fraudsters continuously spread information that will help users earn 0.25 Bitcoin. However, investors are not allowed to withdraw 0.25 Bitcoin because the minimum withdrawal limit is 0.3 Bitcoin. Therefore, users must deposit a small amount of BTC to reach 0.3 BTC.

However, after depositing Bitcoin, Coinjer still did not pay. They require investors to perform more verification processes, including KYC screening. And this process requires users to pay 0.1 Bitcoin. Therefore, Coinjer steals not only BTC but also potentially electronic and real-world identities too.

Coinjer has not only deceived foreign investors but has also entered Asia. Besides the name Coinjer, this cryptocurrency scam even fakes CoinJar, a legitimate crypto-payment service.

Crypto fraud is strongly emerging in 2019

The bearish market or the bullish market are all excellent times for cryptocurrency scams to rise. For now, the Ethereum gift-hoax seems to have eased on Twitter. However, the Ponzi models reappear. And they will turn to innocent investors.

If 2017 hits with BitConnect, 2019 is the year called Plus Token. Plus Token is a lending project created in mid-2018 in China. This project commits to investors to pay high interest on the capital deposited into the Plus Token. Up to 18% / month. This is a classic Ponzi model, paying first-in, first-out pay.

In early 2019, the project claimed to have attracted more than 10 million members. At the end of June 2019, Plus Token completed the scam, took the money, and ran away. It is widely believed that the Plus Token scammed investors into more than $ 3 billion. This is considered the most massive Ponzi scam in China. The Plus Token team has collected over 200,000 BTC and over 800,000 ETH.

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