We want to warn you about a fraudulent trading platform operating under the name 247beaconmarkettraders.com. This scam targets people looking to invest in Bitcoin, using promises of high returns to lure victims into depositing money. The scammers behind this operation request payments through Bitcoin ATMs and Cash App, directing victims to transfer funds into cryptocurrency wallets linked to their fake platform. These payments are made with the assurance of profit, but no returns are ever provided. If you come across this website or similar claims, proceed with caution.
In one of the cases we investigated, the victim was convinced by someone claiming to help them learn to trade Bitcoin. They were instructed to open an account on 247beaconmarkettraders.com and send Bitcoin through the above methods. After making deposits totaling $17,000, the victim received no profits or any indication that their money was being used legitimately. When the victim attempted to withdraw their funds, they realized they had been deceived. The scammers stopped responding and left the victim with no way to recover their money through the platform itself.
We traced two of the transactions related to this scam to cryptocurrency exchanges, including Coincola and Bybit, where the funds were likely cashed out. These traces provide key leads for further investigation. While these exchanges were involved in the flow of stolen funds, it’s important to note that they may not have been complicit in the scam. Instead, they were used as part of the cash-out process. Our team at CNC Intelligence worked closely with the victim to provide detailed reports, documentation, and support for filing a complaint with law enforcement.
The Bottom Line Regarding 247BeaconMarketTraders
Based on the evidence we’ve gathered, 247beaconmarkettraders.com is undoubtedly not a legitimate trading platform. Scammers often use sophisticated websites and plausible narratives to appear credible, but the absence of transparency and failure to deliver on their promises are clear indicators of fraud. The use of untraceable payment methods like Bitcoin ATMs further highlights the deceptive nature of this scheme.
If you’ve encountered 247beaconmarkettraders.com or been approached with a similar offer, take immediate steps to protect yourself. Do not send any funds, and report the incident to law enforcement or financial crime experts. As investigators, we know how painful it is to fall victim to a scam like this, and we’re here to help you take action if you’ve been targeted. Remember, no legitimate trading platform will ever ask you to send cryptocurrency directly without clear guarantees or a secure, transparent process.
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