While many legit online platforms offer exchanging or trading with cryptocurrencies, the fact that this market is completely unregulated is leaving a huge crack for scammers to use these platforms for scamming people.
Binary options involve betting on whether financial assets (shares, commodities, currencies etc.) will go up or down in value in a short time period, as little as a minute. This form of trading is illegal in most countries.
Initial Coin Offerings were a big trend in 2018 and managed to cash in Billions of dollars from a huge amount of ‘investors’. If you’ve participated in an ICO but never heard anything about it since, you’ve probably been scammed.
While CFD trading is regulated in many parts of the world, and held by some reputable brokers, many other scam brokers have joined this industry and using these platforms to execute scam operations.