Investor Alert: Crystal Ball Markets Broker Scam Resurfaces
Overview of Crystal Ball Markets Scam
In March 2021, Scam-Or Project issued a warning regarding the broker scam Crystal Ball Markets (www.crystalballmarkets.com), which predominantly targets users through Instagram and other social media platforms. This fraudulent operation is run by Crystal Ball Markets LLC, a company incorporated in January 2020 under registration number 262. The offshore firm was established by Wilfred Services Ltd, a company builder known for similar ventures.
Changing Payment Processors
Since the initial warning in March 2021, there have been notable shifts in the payment methods promoted by Crystal Ball Markets. Previously, iPayTotal served as their primary payment processor, but it ceased operations in spring 2021 following its collapse. Currently, potential victims are being instructed to transfer funds mainly through:
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PayPal
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Cryptocurrencies
PayPal’s Role in Scam Payments
It is concerning that PayPal facilitates transactions for illicit financial service providers like Crystal Ball Markets, potentially breaching its own terms and conditions by enabling such activities.
Limited Online Presence
Despite its active scam operations, Crystal Ball Markets has not gained significant traction online:
These minimal figures suggest that the scam broker has not achieved widespread success. Nevertheless, individuals are strongly advised to avoid engaging with Crystal Ball Markets under any circumstances.
Conclusion: Avoid and Report
Remain vigilant and do not become a victim of this or similar scams. Reporting fraudulent brokers and their supporting payment processors helps protect other potential victims.
