This article highlights the Washington State Department of Financial Institutions’ warning about Miami Equity Fund 005, a fraudulent crypto investment scheme.
Points
- Investors scammed through Vims.one platform on WhatsApp.
- Promised over 100% returns, did not receive funds.
- Scam falsely used a name similar to the legitimate Miami Foundation.
- Labeled as “Advance Fee Fraud” and social media-based scam.
The Washington State Department of Financial Institutions （DFI） has issued a warning regarding a cryptocurrency investment scam involving Miami Equity Fund 005. Investors were lured into depositing funds on the now-inaccessible Vims.one platform through a WhatsApp group led by individuals named “Mark” and “Alice,” who promised returns exceeding 100% twice weekly for cryptocurrency deposits.
Despite paying a 5% commission for withdrawals, investors did not receive their funds. The scam falsely used a name similar to the legitimate Miami Foundation, which has no involvement in this scheme. The DFI has labeled this as an “Advance Fee Fraud” and a social media-based cryptocurrency investment scam.
解説
- Advance Fee Fraud: A scam where the victim is promised a significant sum of money in return for an upfront fee, which the scammer collects without delivering on their promise.
- Social Media-Based Scams: Fraudulent schemes that utilize social media platforms to reach potential victims and spread misinformation, leveraging the trust and connectivity of social networks.
- Cryptocurrency Investment Scams: These involve fraudsters convincing individuals to invest in cryptocurrencies with promises of high returns, only to disappear with the invested funds.