Monday, 23 December 2019

BitClub Network - $722 million gone missing, prosecutions beginning

A couple of years ago I was on radio and mentioned Bitcoin. I warned people that I thought it was an "economic bubble" and that its rapidly increasing price was very likely to come crashing down soon.

Later that day the station called me saying that "Bitcoin" had asked to come on air to provide another side to the story. I mentioned that there is no company called "Bitcoin" so I didn't see how they could send a spokesperson. They gave me the number of the person who had called and it was actually someone from BitClub Network, an obvious pyramid / Ponzi scheme. They claimed to be major Bitcoin miners but there was NO actual evidence of that being true.

They said:
“With BitClub Network you earn daily profits from our shared mining pools. We also have a referral program so you can get paid for anyone you refer.”
In fact, their main motivation was to recruit more and more people, a major clue that all was not as it seemed.

The people behind this scam are now facing prosecution in the USA but the sad thing is how many people fell for the lies told by BitClub Network recruiters and who collectively lost £722 million.

Please, let's not fall for another BitClub Network, Eurextrade or MMM Global? Let's make that a New Years Resolution for 2020?

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