Stifelint is a fake banking platform that is being used as part of a series of elaborate crypto investing scams.
The scams start on social media where people are being encouraged to invest in fake trading schemes where third parties claim to be able to secure huge profits in a short space of time.
PawProfitForum Team spoke to one victim who’d originally deposited £5,000 into a platform that was being advertised on Facebook.
His was told the money would be traded based on a series of ‘signals’ that were being produced by the platform and within a matter of weeks his original investment appeared to have rocketed in value.
He was then told that his money was being transferred into another account by Stifelint Bank and that the investment would continue to grow.
He was then persuaded to invest more and deposited tens of thousands of pounds worth of cash into the platform using Apple gift cards.
The money allegedly quadrupled in value and he was soon looking at what he thought was a huge profit. But when he came to withdraw the money the problems started.
He was then told that his money was purported transferred to a Coinbase wallet for him to access, but he need to deposit a further £8,000 to ‘unlock the blockchain’ so he could withdraw his funds.
The reality is that this was another part of the scam designed to extract more money from the victim. If he’d paid this amount, further demands would have followed for equally spurious reasons.
There are various red flags that reveal Stifelint to be a scam. They include:
- The website was just a week old when it was used as part of the scam.
- It has been created from a templated designed with content scraped from other platforms.
- There is none of the regulatory information, sections, apps or support associated with genuine banks.
- Stifelint is not registered as a bank anywhere in the world, despite claiming to be regulating by the Financial Conduct Authority among other bodies.
- There are no reviews, social media platforms or any other online footprint connected with the website.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.