Binary Options Scam

1. Exposing the Binary Options Scam
2. Tells of the Binary Options Scam
3. Advertising and Misappropriation in the Scam
4. The Deceptive Tactics and Impact of the Scam
5. The Extent of the Scam and Its Operations
6. The Scam's Association with Israel and Authorities' Response
7. Regulatory Warnings and Exposé of the Scam
8. Insider View of the Scam's Operations
9. Unethical Sales Tactics and Financial Exploitation
10. The Sociopathic Nature of the Scam and the Call to Action
11. FAQ

Exposing the Binary Options Scam

So this is serious, there's a huge scam going on. It's called binary options, it's also known as a crypto trading scam, and this has been defrauding people out of not just millions, not just tens of millions, but hundreds upon millions of dollars. People are being defrauded by this big freakin scam Ponzi scheme, whatever it is. Now, I'm gonna sort of go in depth and kind of expose a bit of this scam. It's been written about, but I want you to understand how this scam works so you can prepare yourself and safeguard yourself from falling victim to this that is taking tons of money from tons of people; it's very sad.

Tells of the Binary Options Scam

So the scam's name is binary options, and I'm gonna go over a few different tells of what is going on with this scam. I'm also gonna show you a few ads right here on my computer of what these sites look like so you can know how to avoid them when they show up. Now, the first tell of this scam is it goes under the term binary options, but that's actually changed a lot because it also goes under the name of crypto trading now. A lot of people say you can trade cryptocurrencies, and how it works is you're offered a free trading account. It's usually marketed on the Internet; you can get a free trading account that will make you lots of money.

Advertising and Misappropriation in the Scam

Now, after you set up your free trading account, you'll start getting calls from telemarketers that will ask you to deposit a small sum of 250 dollars into your account to start trading it so you can have the robot make you more money. Now, here we are on my computer, and you can see here's an example of one of the ads that ran for this sort of scam. Now, there are millions of variations of this sort of ad; oftentimes this is sort of the bad side of affiliate marketing. There are a lot of affiliate marketers that purport this scam and profit for themselves, and they also use illicit methods of advertising such as cloaking and black-hat advertising and all this other sort of stuff.

The Deceptive Tactics and Impact of the Scam

So oftentimes, the way this works is celebrities are misappropriated. In this case, this British person right here, I guess he's a famous journalist, is used in this ad. Another thing, they'll hate me for investing in this. All you need is a hundred and eighty dollars and an internet connection. Okay? All you need is a hundred and eighty pounds and an internet connection; again, one hundred and eighty pounds is the equivalent of two hundred and fifty dollars, so all of the numbers usually all you need is about this much amount of money, and they'll say all you need is that and an internet connection.

The Extent of the Scam and Its Operations

I'll go into detail about how the scam gets millions of dollars out of people in a second. What you'll see is here's an example of one of the pages, 'Martin Lewis lends a hand to British families with revolutionary Bitcoin home-based opportunity.' So again, the scam, it used to be known as binary options; it's gone into crypto and Bitcoin territory. But the way it works is they get you to deposit a menial sum of two hundred and fifty dollars into a trading account. But after a while, what happens is the traders will say, 'You turned that hundred and fifty dollars into a thousand dollars.' They'll say, 'Great.' They'll say, 'Let's go all in,' and they'll ask you to deposit increasing sums of money, and they're incredibly resistant to you letting any of the money go out.

The Scam's Association with Israel and Authorities' Response

The reality is that you're not actually making any money, and they're just trying to get as much of your money as they can until you start saying that you want to withdraw. Now, what happens when you want to withdraw your money is they start going cold turkey on you, and they send you to a different department you'll never get your money back from. The point being, the whole scam is purported in Israel, and they will never allow you to get your money out. In fact, every dollar you put into the binary option or crypto or Bitcoin trading account is gone. It's gone; it's gone into commissions to affiliates, to salespeople, and to the company owners who set everything up in Israel.

Regulatory Warnings and Exposé of the Scam

This scam is not allowed in the US. In fact, the Israeli companies won't touch the US because the US has such vast authority over the world just in terms of military might and whatnot. The securities and Exchange Commission's you can see I'm actually on a website I'm on investor.gov right here, and they have a whole section about binary options fraud, and they say you can quickly lose money. And the problems with it are as follows: refusal to credit customer account or reimburse funds, identity theft, manipulation of software to generate losing trades, exactly what I'm talking about overstated investment returns. Now all of these options just touch the tip of the iceberg, and the article that says it best for this entire scam that has built hundreds and hundreds and hundreds of millions out of customers' wallets is actually here on The Times of Israel website.

Insider View of the Scam's Operations

You'll see, it says, 'The Wolves of Tel Aviv Israel's vast amoral Binary Option scam exposed.' Now, I once knew who actually ran one of these companies, and I actually visited one of these companies once when I was visiting Israel. He was a friend of a friend, and he was supposed to show me a good time in Israel, and I visited his office in Maybach to see how everything was going. It's crazy. The salespeople are all young, Israeli guys; they're making gob loads of cash. They have no morals; all they're doing is trying to take as much money as possible from old people in many cases' bank accounts.

Unethical Sales Tactics and Financial Exploitation

This article details it perfectly: 'The Wolves of Tel Aviv Israel's vast amoral options scandal exposed.' And they go into detail about the lavish office spaces that these companies own, the working conditions, how they lie, and you know the wolf of Wall Street and Jordan Belfort speaks of these companies. Let's look at some of these things. So, you see, right here it says, 'Lynn's job was to call people who had paid $200 to use the robot and persuade them to deepen their involvement.'

The Sociopathic Nature of the Scam and the Call to Action

Here's a from a former employee of one of these companies he said, 'I was told to tell people I had years of experience in the market, that I had studied at Oxford, and worked for the Bank of Scotland.' This scam, this scam is the most sociopathic scam that's around on the internet right now. It's awful what's going on; these companies, these binary options companies out of Israel, they can only operate out of Israel because Israel is the only country that will allow these companies to exist, are a complete disgrace, and you need to watch out for this scam. It's amoral, it's awful, and it's stealing hundreds of millions if not billions of dollars from people who can't afford to give away that sort of money. It's taking people's retirements away from them.

FAQ

Q: What is the Binary Options Scam?
A: The Binary Options Scam is a fraudulent scheme that deceives people into investing large sums of money by offering free trading accounts with promises of high returns, which are never realized. It operates under various names like binary options and crypto trading, targeting unsuspecting individuals and defrauding them of millions of dollars.
Q: How does the Binary Options Scam work?
A: The scam typically starts with enticing advertisements offering free trading accounts. Once individuals sign up, they are pressured by telemarketers to deposit money into their accounts to start trading. The scam also involves deceptive tactics such as using celebrities to endorse the scheme and misrepresenting the investment process to manipulate individuals into investing more money.
Q: What are some warning signs of the Binary Options Scam?
A: Warning signs include promises of high returns with minimal investment, aggressive marketing tactics, and pressure to deposit increasing sums of money. The scam often misappropriates celebrities, uses false advertising, and operates with little transparency, making it difficult for victims to withdraw their funds once they realize they have been defrauded.
Q: What actions are being taken against the Binary Options Scam?
A: Regulatory bodies such as the Securities and Exchange Commission have issued warnings against the Binary Options Scam, highlighting risks such as identity theft, financial manipulation, and exaggerated investment returns. Authorities are working to expose and shut down these fraudulent operations to protect consumers from financial exploitation.
Q: What impact does the Binary Options Scam have on victims?
A: The Binary Options Scam can have devastating financial consequences for victims who lose large sums of money to fraudulent schemes. Victims may face challenges in recovering their funds due to the deceptive practices of the scammers and the lack of oversight in offshore operations. It is essential for individuals to remain vigilant and informed to avoid falling prey to such scams.