"What is CryptoProgram.me and how can it help me understand cryptocurrency programming?"
CryptoProgram.me was registered in October 2022 and is already under investigation by the British Columbia Securities Commission for securities fraud.
The website operates as a Ponzi scheme, offering investment packages with a promised ROI of 25% after 32 days and every 30 days thereafter.
CryptoProgram.me has no retailable products or services, and membership is required to participate in the investment opportunity.
The California Department of Financial Protection and Innovation issued a desist and refrain order against CryptoProgram.me in March 2023.
Scam Detector has flagged CryptoProgram.me as a suspicious website, and it has landed on online directories' blacklists.
CryptoProgram.me promises a high ROI, but the lack of transparency and regulatory compliance raises concerns about its legitimacy.
CryptoProgram.me was originally registered for only one year, ending in October 2023, which is atypical for legitimate investment platforms.
The CryptoProgramme rebranded as Amsys in August 2023 due to regulatory fraud warnings from Canada and California.
Amsys blamed "tech issues" for the fraud allegations, and many users have reported not being able to withdraw their funds.
CryptoProgramme has received mixed reviews, with some users reporting profits while others claim it is a scam.
Similar platforms, such as BitConnect and OneCoin, have been shut down by authorities for operating as Ponzi schemes.
Investors are advised to exercise caution and thoroughly research any investment opportunity before committing funds.
The use of high ROI promises and lack of transparency are common red flags for investment scams.
Consulting with a financial advisor or conducting independent research can help investors make informed decisions.
Proper due diligence, including verifying regulatory compliance and researching the company's history, can help investors avoid scams.
CryptoProgramme's operators have a history of creating new platforms after previous ones have been shut down due to fraud allegations.
Ponzi schemes rely on new investors' funds to pay earlier investors, and they often collapse when new investment slows down.
The anonymity of cryptocurrency transactions can make it easier for scammers to operate, but it also makes it harder for them to cash out large sums without raising red flags.
CryptoProgramme's operators have used various tactics to avoid accountability, such as rebranding and blaming tech issues.
The rise of cryptocurrency and its unregulated nature has led to an increase in investment scams, making it crucial for investors to be vigilant and informed.