Pay with bitcoins? Then it could be fraud. We are seeing a strong increase in fraud with investment products via cryptocurrencies at our office. If an “investment firm” asks you to pay “investment” via bitcoins, which you must first purchase via a “wallet” at a (reliable) company, realize that fraudsters have their reasons for not getting paid via the bank .


Payments with cryptocurrencies can be transferred more anonymously and faster to a wallet in a distant country where the police do nothing against fraudsters. Bitcoin enthusiasts then say that this type of payment is very transparent and traceable due to the blockchain technology. That is technically correct, but the standard trick of fraudsters is that after a few movements anonymous goods are bought and paid for with (other) cryptocurrencies, which are delivered somewhere in an anonymous place in another country and resold for cash. And then you never see anything again. Conclusion: an investment or investment that you have to settle in cryptos is suspicious. Don’t fall for it!

Duped by investment fraud? read more:

The fight against the CFD brokers and the “fake ads” with famous Dutch people

How to recognize investment fraud

What is a boiler room?


Written by Marius Hupkes