Category: blog

If you are looking for a reliable and trustworthy bank to invest your money, you might want to think twice before choosing Swiss Velorem Bank. In this blog post, I will reveal some shocking facts about this bank that you may not know.

First of all, Swiss Velorem Bank is not a real Swiss bank. It is actually registered in the Cayman Islands, a notorious tax haven for shady businesses and individuals. This means that the bank does not have to comply with the strict regulations and standards of the Swiss banking system, and can operate with minimal oversight and transparency.

Secondly, Swiss Velorem Bank is involved in several illegal and unethical activities, such as money laundering, tax evasion, fraud, and corruption. According to a recent investigation by the International Consortium of Investigative Journalists (ICIJ), the bank has helped its clients hide billions of dollars from the authorities, evade taxes, and funnel money to dubious entities and individuals, such as drug cartels, terrorist groups, and dictators.

Thirdly, Swiss Velorem Bank is not a safe place to deposit your money. The bank has a history of mismanaging its funds, losing millions of dollars in risky investments, and failing to protect its customers’ data and privacy. In fact, the bank has been hacked several times in the past, exposing sensitive information of its clients to hackers and criminals.

How can I contact the ICIJ?

If you have a story to share with the International Consortium of Investigative Journalists (ICIJ), or you want to support their work, there are several ways you can contact them. Here are some options:

• Visit their website at https://www.icij.org/ and fill out a secure form to submit your information. You can choose to remain anonymous or provide your contact details. You can also upload any documents or files that are relevant to your story.
•  Send them an email at [email protected]. You can use this address for general inquiries, feedback, or suggestions. If you want to send them sensitive information, you should use encryption tools such as PGP or Signal. You can find their public key and phone number on their website.
•  Follow them on social media and join their online community. You can find them on Twitter, Facebook, Instagram, YouTube, and LinkedIn. You can also subscribe to their newsletter and podcast to get the latest updates on their investigations and events.
•  Donate to their cause and help them continue their mission. ICIJ is an independent, donor-supported investigative news outlet that relies entirely on donations to fund their work. You can make a one-time or monthly donation on their website, or join their major donor program if you want to make a larger contribution.

Contacting the ICIJ is a way to contribute to the public interest and help expose wrongdoing around the world. The ICIJ values your trust and privacy, and will do their best to protect your identity and information.

In a major announcement, Visa has revealed that it will allow its network of 70 million merchants to accept cryptocurrencies as a form of payment. This is a huge step forward for the adoption of digital assets and a clear sign of the growing demand for crypto payments.

Visa has partnered with several crypto platforms, such as Crypto.com, Coinbase, Bitpanda and FTX, to enable their users to spend their crypto balances using Visa cards. According to Visa, more than $1 billion worth of crypto transactions were processed by its partners in the first half of 2021.

Visa’s move is not only a boost for the crypto industry, but also a strategic decision to stay ahead of the competition. As the world’s largest payment network, Visa has to adapt to the changing preferences of consumers and merchants, who are increasingly looking for faster, cheaper and more inclusive payment options.

Visa is not the only payment giant that is embracing crypto. Mastercard, PayPal, Square and Stripe are also offering or planning to offer crypto-related services to their customers. These companies recognize that crypto is not a threat, but an opportunity to expand their market share and revenue streams.

Visa’s announcement is a bombshell for the crypto space, as it opens the door for millions of people to access and use digital currencies in their everyday lives. It also shows that crypto is becoming more mainstream and accepted by the traditional financial system. This is a positive development for the future of money and innovation.

However, how will this affect the price of cryptocurrencies? Some analysts believe that Visa’s endorsement will increase the demand and value of crypto assets, as more people will see them as a viable and convenient payment option. Others argue that Visa’s integration will have a negative impact on the price of crypto, as it will reduce the scarcity and uniqueness of digital currencies. Ultimately, the market will decide how Visa’s move will influence the price of crypto, based on supply and demand factors.

But what are the risks associated with crypto payments? Despite the benefits of using crypto as a payment method, there are also some challenges and drawbacks that need to be addressed. For example:

•  Crypto payments are subject to high volatility and price fluctuations, which can affect the purchasing power and profitability of both consumers and merchants.
•  Crypto payments are not regulated or protected by any central authority or intermediary, which means that users are responsible for their own security and privacy. If they lose their private keys or fall victim to hacking or fraud, they may not be able to recover their funds or seek compensation.
•  Crypto payments may face legal and regulatory uncertainties in different jurisdictions, which can create confusion and compliance issues for both consumers and merchants. Some countries may ban or restrict the use of crypto as a payment option, while others may impose taxes or fees on crypto transactions.
•  Crypto payments may have environmental and social implications, as some cryptocurrencies require a lot of energy and resources to operate and maintain their networks. This can contribute to greenhouse gas emissions and climate change, as well as social inequalities and human rights violations.

So how can you protect your crypto wallet from hacking? Hacking is one of the most common and serious threats to your crypto wallet. Hackers can try to access your private keys, steal your funds, or manipulate your transactions. To prevent hacking, you should follow these best practices :

•  Use a cold wallet. A cold wallet is a hardware device that is not connected to the internet, such as Ledger Nano S Plus. This reduces the chances of hacking or theft. A cold wallet is also known as an offline wallet or a hardware wallet. It is a physical device that stores your private keys (the codes that allow you to access your crypto funds) in a secure chip or memory card. Unlike a hot wallet (an online wallet or software wallet), a cold wallet does not need an internet connection to function. This makes it immune to hacking attacks or malware infections that could compromise your online accounts or devices.
•  Use a reputable exchange. A reputable exchange is one that has high security standards, complies with regulations, offers customer support and insurance, and has a good reputation among users. A reputable exchange can protect your funds from hacking by using encryption, firewalls, anti-virus software, multi-signature verification, cold storage, and other security measures. A reputable exchange can also compensate you in case of a security breach or loss of funds.
•  Use strong passwords and change them regularly. A strong password is one that is long, complex, unique, and hard to guess. You should use different passwords for different accounts and devices, and change them regularly. You should also use a password manager to generate and store your passwords securely.
•  Use multi-factor authentication (MFA). MFA is a security feature that requires you to provide more than one piece of information to access your account, such as a code sent to your phone or email. This adds an extra layer of protection against unauthorized access. You should enable MFA for your crypto wallet, exchange, and device accounts.
•  Beware of phishing. Phishing is a type of scam where hackers send fake emails or messages that look like they come from legitimate sources, such as your exchange or wallet provider. They try to trick you into clicking on malicious links or attachments, or revealing your personal or financial information. You should never click on suspicious links or open unknown attachments, and always verify the sender’s identity and address before responding.
•  Keep your device and software updated. Your device and software are vulnerable to hacking if they are outdated or have security bugs. You should always keep your device and software updated with the latest versions and patches. You should also use antivirus software and firewall to protect your device from malware and intrusions.

If you are a crypto enthusiast, you may have seen some posts on Elon Musk’s X platforms claiming to offer a huge giveaway of cryptocurrencies worth $25 million. The posts usually ask you to send a small amount of crypto to a specified address and promise to send back a much larger amount. Sounds too good to be true, right? Well, it is.

This is a classic example of a crypto scam that has been around for years, but has recently resurfaced with a new twist. The scammers are using fake accounts and bots to impersonate celebrities, influencers, and even crypto projects, and lure unsuspecting users into their trap. They also use fake websites and logos to make their posts look more legitimate.

The giveaway is nothing but a hoax, and anyone who sends their crypto to the scammers will never see it again. The scammers simply pocket the money and disappear, leaving the victims with no recourse. According to a recent report by CipherTrace, a blockchain security firm, crypto scams have stolen more than $2.5 billion from users in 2021 alone.

How to avoid crypto scams?

The best way to avoid falling victim to crypto scams is to exercise caution and common sense. Here are some tips to help you spot and avoid crypto scams:

•  Never send your crypto to anyone who promises to send you more in return. This is a sure sign of a scam, and no legitimate giveaway or project will ever ask you to do this.
• Always verify the identity and reputation of the person or project offering the giveaway. Check their official website, social media accounts, and online reviews. Beware of fake accounts that use similar names or logos to impersonate real ones.
• Always use secure and reputable platforms to buy, sell, or store your crypto. Avoid clicking on suspicious links or downloading unknown apps that may contain malware or phishing attempts.
• Always do your own research before investing in any crypto project or opportunity. Don’t rely on hype or FOMO (fear of missing out). Understand the risks and rewards involved, and only invest what you can afford to lose.

Crypto scams are a serious threat to the growth and adoption of the crypto industry, and they can cause significant financial and emotional damage to the users. By being vigilant and informed, you can protect yourself and your crypto from these malicious actors.

It sounds like an SNL skit, but it isn’t funny for the would-be investors who were robbed over $2 million. During a much-anticipated SNL appearance byTesla CEO billionaire Elon Musk, cybercriminals pretending to be him offered fake giveaways on social media. All participants had to do was send him some cryptocurrency. The result was a high-profile crypto scam

Unfortunately, many fans of SNL, Elon Musk, and cryptocurrencies took the bait and sent money in the form of cryptocurrency, believing claims they would get up to tenfold returns on the initial amount. The total reported losses were $2 million, but it is estimated that there may have been over $5 million lost. This is not surprising, since many people who are victims of forex trading scams and crypto scams do not report, which is a mistake. 

It is important to report forex trading scams, crypto scams, or any other type of fraud. This is the only way authorities can catch the cybercriminals, prevent them from striking again, and start the fund recovery process.

Cryptocointrace experts can provide you with assistance if you have been affected by a scam. Our team of researchers knows what to look for when investigating frauds. We can provide you with information and guidance through our intelligence reports that will help you get results. Contact our Cryptocointrace professionals today for a consultation. 

What Happened With the SNL Elon Musk Crypto Scam? 

Basically, people thought that Elon Musk, who was appearing on SNL, initiated a promotion for viewers through social media. There were various deals, some promising to return ten times the original amount of cryptocurrency participants would send. 

Even though the mechanism of the deals were not explained, including when the return for the initial funds would arrive and why something that was supposed to be a giveaway was asking for crypto coins in the first place, many people sent money to various addresses online. 

The amount of between $2 million to $5 million in losses may seem modest except when taking into account this occurred during the screening of SNL, a show which is typically just 90 minutes long. Now, many of the victims are asking the FTC to help them with fund recovery. However, it is assumed there are many more victims who will not come forward. 

Why Elon Musk? 

Elon Musk, at least until very recently, has been an outspoken proponent of cryptocurrencies. His $1.5 billion investment in bitcoin in early spring 2021 led to a rally in the value of bitcoin and a scramble among consumers to get in on the next cryptocurrency deals. 

However, as high-profile figures such as Bill Maher criticized cryptocurrencies for using up significant amounts of electricity and not being as green as once supposed, Elon Musk announced that bitcoin would not be used as payment at his company Tesla. As a result, bitcoin fell below its $50,000 support level just 24 hours after the announcement. 

Elon Musk has proven he can single-handedly move the cryptocurrency market. However, it is clear that those who were targets of the SNL social media crypto scam had not gotten the memo on Elon Musk’s change of position on bitcoin or perhaps they believed he was changing his mind again, was now open to accepting cryptocurrency, and they wanted to be the first to get in on another huge Musk-led crypto coin market move. 

How Is the Musk SNL Crypto Scam Like Other Celebrity Social Media Crypto Scams?

Unfortunately, this isn’t the first and won’t be the last celebrity social media crypto scam. Early in 2021, a 17-year-old hacker accessed the actual accounts of Bill Gates and Barack Obama with a promise to match those donations given through cryptocurrency. 

The 17-year-old hacker was caught, but cybercriminals find they can make millions without having to hack into actual accounts. It is relatively easy to create convincing decoy celebrity accounts. The Musk SNL appearance provided a perfect storm for crypto fraudsters capitalizing on the popularity of Musk in general and the buzz over his SNL appearance specifically. 

Also, these social media crypto scams often create a false sense of haste. This is so they can get the money and disappear fast. Designing the scam around the run of the SNL show meant that the scammers could make millions in just over an hour. 

How to Avoid Social Media Crypto Scams

The best way to avoid social media crypto scams is never to trade, invest or participate in any giveaways on social media. Twitter, Facebook, and Instagram are great places to trade recipes and photos of pets. Do not believe in any money-making schemes advertised on social media. If you want to trade, find a regulated broker. 

Another tip is to use cryptocurrency with care. Although digital currency is exciting, it does carry certain danger, since it is not managed through government regulations and transactions are anonymous. Avoid making payments in cryptocurrencies unless you have fully validated the identity of the other party. 

Also, use your logic. The first question anyone should have asked in the SNL Elon Musk scandal is why do people need to give money in the first place? If Elon Musk wants to give people money, he should just do it. Is this a trade? What is being traded? How does it work? Is there a website explaining this? Lack of transparency and an exaggerated sense of haste are hallmarks of forex trading scams and crypto social media scams. 

What to Do If you Have Lost Money in a Social Media Crypto Scam

Do not be shy about reporting any kind of fraud. This goes for a forex scam or a social media crypto scam. Many people are too embarrassed to admit they were cheated or feel that fund recovery is a long shot. However, filing a complaint is the responsible and smart thing to do. 

Have You Been Affected by a Crypto Scam? Talk to Cryptocointrace Professionals! 

If you have lost money of a crypto scam or forex trading scam talk to Cryptocointrace today. Our team has the expertise and knowledge as well as tools to perform in-depth research. We are skilled at investigating all types of financial services and have extensive experience in the financial industry. We will help you get results for your claim and resolve your complaint or dispute. 

Is Safemoon not only safe but a gamechanger in wealth creation? Or is it just pie in the sky or a Ponzi scheme? 

Making decisions about new cryptocurrencies can be agonizing, or just part of the fun and the thrill of high-risk new financial products. Some view ICOs with the same suspicion as forex trading scams. Others see them as not only the future of money but the salvation of those seeking fast, reliable transactions and investments. 

What Is SafeMoon?

SafeMoon is a cryptocurrency that premiered on March 8, 2021, and rose 3,000% in the first 60 days since it hit the market. It promises a huge return for investors and holders of the cryptocurrency through using unconventional methods, such as raising demand by destroying its own currency. 

Significant controversy has erupted over SafeMoon not only on social media platforms such as Twitter, with contentious voices on both sides, but among cryptocurrency experts. Some hail SafeMoon as a game-changing cryptocurrency while others allege it is nothing more than a Ponzi scheme and are distrustful of its strategies and claims. 

SafemMoon is part of the Binance Smart Chain. It was introduced through a fair launch, which means that no investors were allowed to get in on the deal prior to the start date. In a move that raised eyebrows, those behind SafeMoon burned all of the currency held by developers to increase the sense that the SafeMoon is “fair” and to artificially increase demand by destroying supply. 

Another controversial strategy is that it encourages people to keep holding the coin by penalizing those who sell with a hefty 10% fee, according to SafeMoon’s White Paper. Of this 10%, 5% enters a liquidity pool that is kept for emergencies and 5% is distributed among holders as a reward. 

What SafeMoon Fans Say

As with many trends, those who are fans of SafeMoon love it. Some SafeMoon fans on Twitter boast they have their entire retirement savings in SafeMoon currency. Although critics think of SafeMoon’s strategies as aggressive and even manipulative, those who hold this currency believe it is pure brilliance. 

By destroying extra currency, punishing sellers, and rewarding holders, many feel that this crypto coin is bound to be a winner and point to its rapid rise in a short period of time. 

What SafeMoon Critics Say

Some see SafeMoon’s strategies, which seem at first glance like a foolproof way to create value as a one-way ticket to perpetual volatility. While it is true SafeMoon saw a substantial rise, it is worth noting that trading volume is falling, indicating depleting interest in the cryptocurrency.

By burning around 40% of its coins, SafeMoon might have shot itself in the foot, there are few coins left to trade and investors are losing interest. The liquidity pool is meant to curb volatility, and yet it is being diverted to other projects. 

Other critics are off-put by SafeMoon’s aggressive tone on social media, and criticizing anyone who raises questions about their tactics as “haters.” Those who are skeptical of SafeMoon feel it represents the Wild Wild West mentality of cryptocurrency. 

There must be a reason why central banks haven’t torched stacks of their currency to raise the value of their money, and SafeMoon may discover why this is a bad idea. Some predict the floor will fall out from under SafeMoon soon, whereas others believe it will rise to new heights. 

How SafeMoon is Like and Unlike Other ICOs

Even those who criticize SafeMoon must admit that it has been highly successful so far. This puts it in the vast minority of ICOs that actually succeed. Of all the ICOs that come on the market, only single-digit percentages of them succeed and few gain as many followers, holders, and fans as SafeMoon. 

Also, unlike the majority of ICOs, SafeMoon doesn’t appear to be a scam. According to Investopedia, 80% of ICOs are nothing more than crypto scams. Some people may allege that SafeMoon is a Ponzi scheme but at least it had what seems to be a legitimate ICO with real investors. The majority of these deals are enacted purely on social media rather than through a real ICO and those behind the fraud take the money and run. 

However, if SafeMoon does turn out the scam, it would not be the first of its type to begin as a legitimate-seeming ICO. What SafeMoon has in common with other ICOs is that it is hard to tell whether it is for real or fake and even harder to determine if investors will make money or not in the long run. 

Tips for Investing Safely in ICOs

The jury still seems to be out on SafeMoon, with experts on both sides divided regarding its legitimacy and future. The one thing that is for certain is that ICOs certainly involve risk both for the investors and those behind the deal. In addition, it is important to take certain steps to avoid crypto scams. Here are some tips to keep in mind: 

• Only invest in an ICO through an official ICO platform, never through social media
• Research the credentials of those behind the deal
• Invest in ICOs through other payment methods than cryptocurrency
• Peruse the website and whitepaper (if there is no whitepaper or website stay away)
• Only invest money you can afford to lose–never college or retirement funds!

ICO scams are catching up with forex trading scams and other types of fraud in the number of complaints. It is important to report crypto scams to authorities and seek guidance for beginning the fund recovery process. 

If You Have Been Affected by a Crypto Scam, Talk to Cryptocointrace Professionals! 

If you have lost money to a crypto scam, talk to Cryptocointrace today. Our team has the expertise and knowledge as well as tools to perform in-depth research. We are skilled at investigating all types of scams and have extensive experience in the financial industry. We will help you get results for your claim and resolve your complaint or dispute.