Milton Group and Coinevo | How was the scam formed?

The Milton Group

For more than a year, BBC Eye has been investigating a global network of fraudulent transactions made up of hundreds of different investment brands that defrauded unsuspecting customers of more than $1bn. The BBC investigation revealed for the first time the scale of the fraud and who was behind it. 152 brands, including Coinevo, are suspected to be part of the network, which police identified as the Milton group. One of Milton's investment brands is even known to sponsor a top Spanish football club and advertise in major newspapers, which has helped build the group's reputation and credibility with potential investors.

The staffs of Milton Group defraud victims mostly via phone call. Most victims sign up after seeing ads on social media. Often within 48 hours, they get a call telling them they can earn returns of up to 90 percent a day. However, it is an absolute trap.

Coinevo

To better understand how the scam worked, the BBC, posing as an aspiring trader, contacted Coinevo, one of the Milton Group's trading platforms. A consultant named Patrick told the BBC that it was possible to get “70, 80 or even 90 percent returns in a day”. He told BBC investigators to deposit $500 worth of bitcoin as a deposit to start trading and asked for a copy of a passport. After providing a fake passport, the BBC was able to continue operating the account for about two months until Coinevo apparently discovered it was a fake passport. It was then that Patrick wrote an email to the BBC swearing at BBC staff and breaking off contact.

Scam is everywhere. WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!