AlgobinaryFX is a scam crypto and investment platform that is being used by fraudsters to trick people into parting with their cash.
Victims are being contacted at random through social media platforms, befriended, then told that easy profits await them at AlgobinaryFX.
However, once a victim has invested a substantial amount of cash they’ll find their accounts blocked.
The scammers will demand various payments to release the money, but ultimately no funds will be forthcoming, and this is just a way of extracting more cash from the victim.
AlgobinaryFX red flags
There are many things wrong with this site which show that it is a scam.
They include:
- A very recently registered domain name.
- The content is riddled with spelling mistakes and other errors. ‘Aboutt Us’ page anyone?
- Poor use of English throughout.
- A statement on the website claims the company was set up in 2017, yet the domain name was registered in June 2023.
- No genuine information about how any profits are achieved or what the investment strategy is.
- No social media profiles or mobile apps.
- No discussion about the platform on forums or elsewhere.
- A very low Domain Authority (DA) ranking meaning the platform gets very little inbound traffic and no-one is linking to it.
- The support email address ends in @cryptechtrade.co.uk and bears no relation to the domain name.
- The company claims to be based in Australia which contradicts the email address.
- On the contact page the email address is listed as ‘[email protected]’ – clearly the platform was set up in a rush.
- Also on the contact page a map shows the company location as Singapore.
There are some resources below which may help you if you’ve been scammed by this platform.
Also, there are private companies that might be able to help which I’ve written about here.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.
