Ponzi Company Disappears with 1,000 BTC

By January 13, 2015 Bitcoin Politics
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Ponzi Company Disappears with 1,000 BTC

CryptoDouble, a newly launched company that promised to double cryptocurrency investments within 100 hours of deposit, recently disappeared with customers’ 1,000 BTC – leaving behind nothing but an offline website.

From what we could gather from the leftover material, CryptoDouble claimed itself to be a brainchild of some really serious “investors” that were able to return twice the amount deposited. An excerpt from their dead website read:

“[We] are the group of professional traders and skilled analysts with valuable experience in the sphere of cryptocurrency. All transactions in the cryptocurrency market are carried out according to an elementary principle: buy at a lower price, sell at a higher. And, vice versa, respectively – sell at a higher price, buy a [at] lower. Due to the variability of the exchange rate, we make a great profit on this difference.”

Few users actually reported their investments to have grown after partnering with CryptoDouble. But indeed, they could be paid trollers adding limelight to the company’s reliability. Even if they were real, they forgot to notice out very basic things about CryptoDouble that their funds were neither insured nor refundable. The developers were also anonymous. Wonder who, in their right mind, actually invested in a scam like this?

Meanwhile, it is reported that the Bitcoin wallet address of the owner(s) currently has 974 BTC in it. At the time of writing, the funds have been sent to BTC-e, probably to take out the cash.

From what we could gather from the leftover material, CryptoDouble claimed itself to be a brainchild of some really serious “investors” that were able to return twice the amount deposited. An excerpt from their dead website read: “[We] are the group of professional traders […]

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