Bitcoin auto-trading or anything alike

Please remember, those auto-trading services may not be regulated. They can tell you anything, and promise you the sky, but there is a chance you will not get your money back.

Please consult with your financial adviser, it worth your money. However, please remember that you should question your Financial Adviser work.

Do not use an advice without question it. You should do your own research, in order to question your Financial Adviser work.

Please make sure your your Financial Adviser is registered and license. The financial Adviser’s license is here to protect you, therefore, please make sure you check it.

If your Financial Adviser is not registered or license, you should not use its services/advice.

If you search on google “Bitcoin Trader auto-trading” you may get to or, it seems that those websites do not have any valid/real license. If you invested through them, your money might be at risk.

It is not be fair to blame Google, they are not the regulator, but you can report about those ads to Google. Google might provide you more details about who is behind those ads, and/or stop such ads.

Some regulators are trying to fight back against those crypto frauds. For example FSMA (Belgium). FSMA issues the following:

List of cryptocurrency trading platforms about which the FSMA has received questions/complaints from consumers and has identified signs of fraud. Please find attached a link for the full list.

In addition, FSMA issued the following alert:

Cryptocurrency trading platforms: beware of fraud!

In recent weeks, a large number of new platforms offering all and sundry the chance to
invest in cryptocurrencies have appeared on the internet. The FSMA warns the public
about these new platforms, since often there are fraudsters behind them who are now
using cryptocurrencies to swindle consumers. Please find attached a link for the warning. If you heard/read the following, then you should read the alert again:

“Invest in cryptocurrencies with full confidence.”
“Invest in digital currencies in full confidence on one of the most renowned platforms on the market.”
“XXX: trading in cryptocurrencies easily accessible at last!”

Sec statement and DC Blockchain Summit March 7 2018

Please note that according to the sec statement as of March 7 2018:

The SEC staff has concerns that many online trading platforms appear to investors as SEC-registered and regulated marketplaces when they are not.  Many platforms refer to themselves as “exchanges,” which can give the misimpression to investors that they are regulated or meet the regulatory standards of a national securities exchange.  Although some of these platforms claim to use strict standards to pick only high-quality digital assets to trade, the SEC does not review these standards or the digital assets that the platforms select, and the so-called standards should not be equated to the listing standards of national securities exchanges.

Please find attached a link for the full statement. Please don’t get confused, and remember that some “exchanges” are not regulated by the sec.

Highlights from the keynote Address by Commissioner Brian Quintenz before the DC Blockchain Summit:

in the spot markets for commodities, neither the CFTC nor any other federal agency has that same oversight authority. This means the agency cannot impose things like registration requirements on platforms or participants in the cash markets, surveillance and monitoring requirements on spot platforms, or otherwise require compliance with business conduct standards or other trading requirements. The CFTC only has enforcement authority to police fraud and manipulation in the actual trading of commodities. Pursuant to this enforcement jurisdiction, the CFTC can investigate potential fraud and manipulation in the underlying virtual currency spot markets.

I think we’ve come to the point with cryptocurrencies where an independent body must step up, establish, and enforce the rules of play. It is my hope that cryptocurrency platforms in the United States will consider the many benefits, including enhanced credibility, that the establishment of an SRO-like organization may provide. Moreover, in light of the global market for cryptocurrencies, and the efforts currently underway in the United Kingdom and Japan, there is no reason why a private, cryptocurrency oversight body could not achieve global significance.

Please find attached a link for the full keynote address. It means that the Cryptocurrency world is not fully supervised and regulated. Moreover, if the local players will cooperate together fairly, it will be for the best interest of the Cryptocurrency market (all players and clients alike).

Insider trading, FBI, Coincheck, Bitconnect, OneCoin, Tether

Six important stories:

  1. Please play fair. Insider trading will always be caught. Please find attached an example for an insider trading litigation case. Just stay away from it.
  2. The FBI need your help. Please review the below:
    If you have received any previous communications about your investments with Banc de Binary from someone claiming to be from a government agency, please fill out the questionnaire attached. Based on the answers you provide, the FBI or the SEC may wish to contact you to find out more about what happened.
  3. According to, Japanese cryptocurrency exchange Coincheck, one of the largest in the country, was the victim of a massive hack resulting in a loss of $534 mln. Please find attached a link for the full story. Exchanges must be regulated by a security commission, there is no other way.
  4. According to, Former BitConnect investors have filed a class action lawsuit, seeking compensation from the company that was found out to be a ponzi scheme and has shut down on Jan. 17, 2018. Please find attached a link for the full story.
  5. According to, OneCoin offices were raided and its servers seized in Sofia, Bulgaria, as yet another step in a series of international raids and court cases against the highly-controversial altcoin. Although the servers were shut down, OneCoin currently remains operational. Please find attached a link for the full story. If you want to avoid ponzi scheme, please search your entity at (the people of behindmlm, are doing good service for the public).
  6. Tether is an unregulated cryptocurrency token that was issued on the Bitcoin blockchain. Although no audits are publicly available, according to Tether Limited, each unit of Tether is backed by one United States dollar held in reserve by Tether Limited, and may be redeemed through the Tether Platform. Please note that some people think it is a ponzi scheme. Please find attached an example for a very important economist who think it is a ponzi scheme (link).

Western Union, Cold-calling, IOTA wallet, bitFlyer, Benebit ICO, My Big Coin and Bitcoin Money Laundering

Seven interesting stories:

  1. Victims Scammed Via Western Union May Get Refund – If you need to get a refund, please visit ACCC website for more details. You will have to fill out a form and send documents, but it might be worth trying.
  2. Cold-calling – we need to continue to report those unwanted calls. In the UK a company director was disqualified (can’t run or be involved in the management of another company). The company he managed made unsolicited calls for direct marketing purposes. Please find attached a link for the full press release.
  3. If you are dealing with IOTA , please do not use online seed generators. According to some news outlets around $4m worth of IOTA were stolen, therefore, it is advisable to review the attached reddit post.
  4. bitFlyer EUROPE S.A. Obtains Payment Institution License and Launches Service in Europe. Please find attached a link for the full press release. It is a good sign for EU cryptocurrency users, since now they are more protected.
    According to the press release, in addition to the above, bitFlyer was registered as a virtual currency exchange by the Japan Financial Services Agency in September 2017, and bitFlyer USA is licensed to operate in 42 states as of November 2017.
  5. According to, Benebit ICO has pulled an exit scam, making off with a reported $2.7 million of investor funds. Please find attached a link for the full story.
  6. CFTC Charges Randall Crater, Mark Gillespie, and My Big Coin Pay, Inc. with Fraud and Misappropriation in Ongoing Virtual Currency Scam. Defendants allegedly solicited more than $6 million for investments in a virtual currency known as “My Big Coin”. According to the press release “My Big Coin” is a Ponzi scheme.
    Please find attached a link for the full story.
  7. New Study Finds Patterns in Money Laundering through Bitcoin. It is the first public domain analysis of how illicit digital currency is laundered around the globe.
    According to the article attached, Bitcoin gambling sites, “mixers” and European Bitcoin exchange may be the destinations of choice for criminals looking to launder bitcoins.


GTK Enforcement Actions and Enforcement agency

GTK – three enforcement actions and one enforcement agency statement (ESMA):

  1. CFTC Charges Colorado Resident Dillon Michael Dean and His Company, The Entrepreneurs Headquarters Limited, with Engaging in a Bitcoin and Binary Options Fraud Scheme
    The complaint alleges that defendants solicited customer deposits using the online media and false claims. The defendants claimed that customers’ funds would be pooled and invested in commodity options on behalf of customers. But, as alleged, defendants were not actually engaged in trading on behalf of their customers, and defendants’ purported trading profits were fictitious. The defendants misappropriated over $1 million in customers’ funds, while Dean has launched another similar purported trading venture under the name Real Trade Profits, using a website to solicit customers to deposit Bitcoin for a pooled investment in binary options trading and promising high rates of return.
  2. CFTC Charges Patrick K. McDonnell and His Company CabbageTech, Corp. d/b/a Coin Drop Markets with Engaging in Fraudulent Virtual Currency Scheme
    The CFTC complaint alleges, McDonnell and CDM engaged in a deceptive and fraudulent virtual currency scheme to induce customers to send money and virtual currencies to CDM, purportedly in exchange for real-time virtual currency trading advice and for virtual currency purchasing and trading on behalf of the customers under McDonnell’s direction. In fact, as charged in the CFTC Complaint, the advice was never provided, and customers who provided funds to McDonnell and CDM to purchase or trade on their behalf never saw those funds again. In short, McDonnell and CDM used their fraudulent solicitations to obtain and then simply misappropriate customer funds.
  3. The Massachusetts Securities Division is charging a resident of the state with violating securities laws through an initial coin offering (ICO)
    According to the complaint, the company and its founder, violated Massachusetts securities law in the way they designed, promoted and sold “Caviar tokens,” which are units of cryptocurrency that entitle their owners to receive a portion of the profits from Caviar’s investment activities.
    The Massachusetts Securities Division — which labeled Caviar’s ICO a “cryptocurrency scheme” — wants Caviar to shut down the ICO, return all the money paid so far, and pay an administrative fine.
  4. ESMA published a statement explaining, that it was considering the possible use of its product intervention powers, to address investor protection concerns posed by the marketing, distribution and sale of CFDs and binary options to retail investors.
    It is now seeking evidence from stakeholders on the impact of the following proposed measures:
    Contracts for Difference
    The specific potential measures under consideration are:
    i. Leverage limits on the opening of a position by a retail client. These would range from 30:1 to 5:1 to reflect the historical price behaviour of different classes of underlying assets;
    ii. A margin close out rule on a position by position basis. This would standardise the percentage of margin at which providers are required to close out a retail client’s open CFD;
    iii. Negative balance protection on a per account basis. This would provide an overall guaranteed limit on retail client losses;
    iv. A restriction on the incentivisation of trading provided by a CFD provider; and
    v. A standardised risk warning by CFD providers. This would include an indication of the range of losses on retail investor accounts.
    ESMA is also considering whether CFDs in cryptocurrencies should be addressed in the measures.
    Binary Options
    The potential measure under consideration is a prohibition on the marketing, distribution or sale of binary options to retail investors.

Kodak, AMERI Holdings, Recon Technology, SPI Energy and NQ Mobile

The common between Kodak, AMERI Holdings, Recon Technology and NQ Mobile is blockchain-related news.

Once the blockchain-related news announced, those stocks started to move sharply, for example:

Following the news about Eastman Kodak Initial Coin Offering (ICO), the company’s shares rallied from $3.1 on 08.01.2018, closing at $6.8 on 09.01.2018, and $10.70 on 10.01.2018. Furthermore, the trading volume soar from $255,700 on 08.01.2018 to $71,427,400 on 09.01.2018, and up to $107,512,900 on 10.01.2018. On 16.01.2018 the trading volume and the stock price were still higher, compared with 08.01.2018 ($8,624,122 and $8.5, respectively).

Following AMERI Holdings announcement (establishment of a blockchain initiative aimed at improving supply chain visibility, transparency and efficiency), the company shares soar from $3.42 on 09.01.2018 to $5.88 on 10.01.2018. In addition, the trading volume increased from $30,300 on 09.01.2018 to $13,615,800 on 10.01.2018. On 16.01.2018 the trading volume and the stock price were still higher, compared with 09.01.2018 ($532,200 and $3.98, respectively).

Following Recon Technology announcement (to Create Blockchain Mobile Shopping System), the company shares soar from $1.71 on 12.01.2018 to $3.03 on 16.01.2018. Additionally, the trading volume increased from $666,500 on 12.01.2018 to $46,088,600 on 16.01.2018.

Following SPI Energy announcement, that it has established a strategic partnership with Hoofoo Inc. (“Hoofoo”), the leading hack-proof cryptocurrency wallet for iOS and android phones, the company shares soar from $0.63 on 12.01.2018 to $1.04 on 16.01.2018. In addition, the trading volume increased from $178,400 on 12.01.2018 to $18,032,800 on 16.01.2018. On 18.01.2018 the trading volume and the stock price were still higher, compared with 12.01.2018 ($19,540,956 and $1.09, respectively).

Following NQ Mobile announcement (plans to integrate blockchain and AI capabilities into their CarBrain project for software-designed cars), the company shares soar from $3.98 on 09.01.2018 to $4.53, opening price on 10.01.2018. Moreover, the trading volume increased from $694,100 on 09.01.2018 to $8,425,200 on 10.01.2018.

We feel it is needed to ask the following questions:

Is the share price increase can be justified? Is it FOMO (fear of missing out)? Is it only hope that something good will come out of this new business model? Is it a bubble?

We can think about few good answers for those questions, but we think you already know the answer.

Please note, the stocks mentioned are volatile, and therefore may be very risky. You should consult with independent financial adviser, before making any investment decisions.

You should only use register financial adviser, if things goes wrong, he/she may have professional liability insurance, and you may be able to get back your money.

The difference between Iced Tea and Blockchain is 400%, is it crazy?

According to, the beverage firm Long Island Iced Tea Corp rebranded to “Long Blockchain Corporation”, and its share price increase by more than 400%. The initial rebrand announcement revealed the company’s intentions to pivot its business model.

The latest business move shows LBC is planning to operate a mining facility located in the Nordic country.

Few days ago we reported about a similar story, UUBI Blockchain Internet Ltd, which is a startup company with no revenues, but it’s share value jumped about 1,000%.

In addition, you can read about LongFin Corp(LFIN), Digital Power Corp. (DPW), Riot Blockchain (RIOT), Seven Stars Cloud Group, Inc.(SCC), and Siebert Financial Corp. (SIEB) at According to the post, those stocks soared due to blockchain-related activity. According to the post, those companies have minuscule or no revenues, though their combined market capitalization is many billions.

According to the below quote from article, we are in a very late stages of a bubble:

That these companies get away with this, that in fact speculators fall for this crap, that they’re stupid enough to bet what are in aggregate many billions of dollars in a matter of seconds after “blockchain” flashes across their screens, is a sign of just how far the global flood of liquidity has befuddled the minds of these speculators and turned them into knee-jerk betting automatons. This phenomenon happens only during the very late stages of a bubble.

The questions which have been raised are as follows:

Is the share price increase can be justified? Is it FOMO (fear of missing out)? Is it only hope that something good will come out of this new business model? Is it a bubble?

We can think about few good answers for those questions, but we think you already know the answer.

Please note, the stocks mentioned are volatile, and therefore may be very risky. You should consult with independent financial adviser, before making any investment decisions.

You should only use register financial adviser, if things goes wrong, he/she may have professional liability insurance, and you may be able to get back your money.

Giga Watt, blockchain good or bad, NASAA warning

According to article, Giga Watt, a startup that held an initial coin offering (ICO) to raise money to build a cryptocurrency mining facility, is being sued for allegedly conducting an unregistered securities offering.

The complaint was filed by a group of plaintiffs that contributed more than $20 million in cryptocurrency. In return for their contributions, investors were to be issued either Giga Watt tokens that would grant them exclusive rights to use the company’s facilities rent-free for 50 years, or mining equipment and supplies to be deployed and set up by the on-site project team.

Asserting that construction deadlines have not been met and promises to refund contributions have not been honored, the plaintiffs are seeking the return of their investments.

It is a reminder to all us, ICOs carries high risks, never risk money you can’t afford to lose in full.

“Ten years in, nobody has come up with a use for blockchain”, that the name of the article which was published at According to the article:

Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING. And yet, after years of tireless effort and billions of dollars invested, nobody has actually come up with a use for the blockchain—besides currency speculation and illegal transactions.

The author claims should not be ignored.

NASAA Reminds Investors to Approach Cryptocurrencies, Initial Coin Offerings and Other Cryptocurrency-Related Investment Products with Caution

Some common concerns investors should consider before investing in any offering containing cryptocurrency include:

  • Cryptocurrency is subject to minimal regulatory oversight, susceptible to cybersecurity breaches or hacks, and there may be no recourse should the cryptocurrency disappear.

  • Cryptocurrency accounts are not insured by the Federal Deposit Insurance Corporation (FDIC), which insures bank deposits up to $250,000.

  • The high volatility of cryptocurrency investments makes them unsuitable for most investors, especially those investing for long-term goals or retirement.

  • Investors in cryptocurrency are highly reliant upon unregulated companies, including some that may lack appropriate internal controls and may be more susceptible to fraud and theft than regulated financial institutions.

  • Investors will have to rely upon the strength of their own computer security systems, as well as security systems provided by third parties, to protect purchased cryptocurrencies from theft.

It is a reminder to all us, ICOs and cryptocurrencies investments carries high risks, never risk money you can’t afford to lose in full.


HitBTC’s Customers, SegWit2x and UBI Blockchain Internet, Ltd

According to, HitBTC’s customers facing withdrawal delay. According to the report, a large number of customer complaints have been surfacing recently around the internet claiming withdrawal delays lasting weeks, and also accusing the exchange of stealing their money.

The article suggest that, HitBTC is among the ten largest exchanges worldwide and if any of the accusations are true, it will be a huge blow to the crypto market.

The second story, which also published at, claims the New SegWit2x has Nothing to Do with the Cancelled SegWit2x.

According to the research, the project’s founder, Jaap Terlouw, has virtually no information about his status as a “developer” anywhere else online, save for a LinkedIn profile listing him as the founder of the SegWit2x project and a TourBar profile that says he is looking for “friends”.

Artur Bujnicki, Robert Szabo, and Bartosz Kozłowski, who are listed respectively as the new SegWit2x’s “Senior Software Engineer”, “Core Developer”, and “Business Development.” None of the three indicate anywhere on their LinkedIn profiles that they have any involvement with the new SegWit2x project whatsoever.

Both Bujnicki and Szabo have written on their profiles that they are seeking “new opportunities.” It’s not clear whether either of them know that they are listed on the new SegWit2x website.

According to the article, as the world of cryptocurrency moves further into the mainstream world of financial technology and popular culture, things seem to get weirder and weirder as they become more profitable. Crypto scams are being born left and right, and will continue to be for some time. Keep your ears sharp, your eyes peeled, and be smart.

The third story from, is about UBI Blockchain Internet, Ltd, and the Crypto’s bubble. According to the article the company is a startup with no revenues, but it’s value jumped about 1,000% this year.

According to the article, at least one business expert doubts this is anything other than hype. Charles Lee, a professor of management and accounting at Stanford University, commented: “The profile of this company is scary. Blockchain is right at the apex of saliency right now. But you have this problem because it’s hard to verify anything — the technology, the fact that it’s in China. You certainly don’t want to own this stock.”

Those words, researches, warning and stories are welcome, and should be consider by all market participants. There are bad players in the Crypto’s  ecosystem, only time will tell who they are. Please try to be careful out-there.

Some ponzi stories you should keep in mind

Please bear in mind the following ponzi scheme stories. Those stories are a lesson for all of us:

SEC Charges Operators of $1.2 Billion Ponzi Scheme Targeting Main Street Investors. According to the SEC complaint, Woodbridge advertised its primary business as issuing loans to supposed third-party commercial property owners paying Woodbridge 11-15 percent annual interest for “hard money,” short-term financing. In return, Woodbridge allegedly promised to pay investors 5-10 percent interest annually.

The SEC complaint alleges that Shapiro and Woodbridge used investors’ money to pay other investors, and paid $64.5 million in commissions to sales agents who pitched the investments as “low risk” and “conservative.” Shapiro, is alleged to have diverted at least $21 million for his own benefit. According to the complaint, the scheme collapsed in typical Ponzi fashion in early December.

Investment Adviser Charged with Running Ponzi Scheme. The SEC alleges that Stephen C. Peters, through his investment adviser firm VisionQuest Wealth Management, sold promissory notes issued by another one of his companies, VisionQuest Capital, to clients and other prospective investors while making false statements, including that proceeds would be invested into revenue-producing businesses with neither Peters nor his businesses receiving compensation. Peters allegedly claimed that the VisionQuest Capital notes presented little or no risk of loss and were “guaranteed.”

According to the SEC’s complaint, investor funds were not used as Peters claimed. Peters allegedly spent at least $4.4 million on such personal endeavors. Peters also spent at least $4.9 million to make Ponzi payments to earlier investors.

Prosecutors bust multimillion dollar cryptocurrency scam. According to Korean news source Yonhap, Prosecutors said Wednesday they have uncovered a multimillion-dollar fraud scheme, by a cryptocurrency mining agency based South Korea and in the United States, that has incurred huge losses for investors around the world.


The suspects stand accused of pocketing some 250 million USD from 18,000 investors in 54 countries.

The suspects allegedly lured clients into investing in their cryptocurrency mining tools, which produced ethereum, by promising higher returns.

The suspects deceived investors, by manipulating the mining results, to look as if they were digging more Ethereum, using the computer program it developed. Their scam collapsed as they could not make enough returns from cryptocurrency mining.

Prosecutors believe the company spent around 69 million USD to buy the miners, and the rest was used by the management personally or to reward top performers. They suspect the executives have hidden about 93 million USD of the investment in offshore bank accounts.

Texas State Securities Board has obtained an emergency cease-and-desist order against a company they say is unlawfully pitching bitcoin mining investment products in the state. 

The Securities Board said that the company claimed to offer steady, daily returns – a structure reminiscent of high-yield investment plans that boast steady gains. Further, the solicitations reportedly encourage prospective investors to find others to buy in so that they can make money from “referrals. By promising such investment plans, the respondents are making offers containing statements that are materially misleading or otherwise likely to device the public.