Thousands of people are believed to have lost their savings after investing in a cryptocurrency trading app called iEarn Bot. Experts who have investigated the company say it could be one of the largest crypto scandals to date. Trading in cryptocurrencies has become popular, with people often promised large rewards over short periods. But law enforcement agencies warn of a growing number of scams and recommend investors conduct “due diligence”. Roxana, not her real name, is from Romania. She says she lost hundreds of euros when she invested in iEarn Bot. She asked not to have her identity revealed as she fears her professional reputation might be damaged. Customers buying the bots – like Roxana – were told their investment would be handled by the company’s artificial intelligence programme, guaranteeing high returns. “I invested in a bot for one month,” Roxana tells the BBC. “You could see in the app how many dollars the app was creating: there were graphics showing how the investment was progressing. “It looked quite professional until, at some point, they announced maintenance.” At that point, for some time, withdrawals from the app were frozen. “Some people started to say ‘I cannot withdraw… what is happening’,” explains Roxana. “I made the request to withdraw and the money just disappeared. The portfolio became zero – but I was never credited on my wallet with any money.”
Full report : Thousands may have lost out to crypto trading app.
