Social media posts fraudulently promoting suspicious Binomo investment trading schemes resurfaced on X, targeting investors to steal their hard-earned money. In one hilarious case, a series of messages shared on the social media platform depicted a scammer claiming to have conned
five unsuspecting users.
The enticing posts about the deceptive scheme have now proven that the matter is part of an elaborate scam. They feature promises of doubling investors’ money, reportedly accompanied by
screenshots of satisfied investors.
The WhatsApp messages involved a victim asking the fraudster to return the stolen funds. “I have blocked about 5 people that also invested 100k today,”
the fraudster replied in the conversation.
This conversation between a guy and a Binomo scammer is hilarious, and the ending is completely unexpected 😂🤦🏽♂.
Open Thread 👇🏼 pic.twitter.com/92rkucC16g
— Unruly King 👑 (@unrulyking00) December 4, 2024
Last year, the FCA
cautioned about a clone
Clone
A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for
A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for
Read this Term outfit dubbed Binomo Fx Trading, disowning
the company as offering services without its approval. The regulator provided the details of the unauthorized
firm, noting that it operated under the address Unit 1 Lancaster Court. Its email and website are support@binomofxtrading.com and binomofxlimited.com,
respectively.
Prolonged Social Media Scam
Scammers now use Facebook pages, Instagram accounts,
and even compromised LinkedIn profiles to promote a fraudulent scheme claiming
association with Binomo. “What is all these? Have you forgotten what I do for a
living? What I do for a living is scamming, bro,” the conversation continued.
“I won't block you on this line. In fact, I will save your number so you can see my status updates on how I spend your money,” the scammer continued.
This conversation between a guy and a Binomo scammer is the most hilarious thing you’ll read today
Open Thread 👇🏼🤣🤣 pic.twitter.com/DZsSOQCheW
— Enugu Ezechiteoke 🌹🌻🌺 (@Onyekaa_Ezugwu) December 2, 2024
In another instance, a Nigerian court convicted two
individuals in 2021 for using the Binomo name to defraud unsuspecting investors,
according to local news agency Kano Focus. Meanwhile, platforms like Instagram have reportedly suspended
accounts like “@biinomo” for deceptive practices, but similar scams
continue to proliferate.
The scam’s reach extends beyond social media. In
Indonesia, fraudsters masquerading as Binomo agents reportedly caused financial
losses exceeding 30 billion Rupiah. The victims reported that the fraudsters used influencers and flashy promotions to lure them into the scheme.
pic.twitter.com/ZOKKH1Y1zN
— Enugu Ezechiteoke 🌹🌻🌺 (@Onyekaa_Ezugwu) December 2, 2024
Authorities Flag the Social Media Scheme
Unfortunately, since the operation is illegal, victims
have yet to recover their funds. Indonesian authorities have now declared Binomo and
similar platforms illegal, classifying binary options trading as gambling
rather than legitimate investing, according to the local media publication Jakarta Daily.
pic.twitter.com/9gXmtltdcN
— Enugu Ezechiteoke 🌹🌻🌺 (@Onyekaa_Ezugwu) December 2, 2024
In some regions, victims have banded together to
expose the fake investment platforms. In Indonesia, law enforcement set up hotlines for
reporting Binomo scams, and grassroots efforts encourage whistleblowing to
educate others.
Bappebti, the Indonesian regulatory body, also advised
potential investors to remain vigilant. They recommend questioning the
legitimacy of platforms and avoiding high-return promises without
underlying assets.
Disclaimer: We could not confirm the identity of the scammer, the victim, or the individual who posted the tweet.
Social media posts fraudulently promoting suspicious Binomo investment trading schemes resurfaced on X, targeting investors to steal their hard-earned money. In one hilarious case, a series of messages shared on the social media platform depicted a scammer claiming to have conned
five unsuspecting users.
The enticing posts about the deceptive scheme have now proven that the matter is part of an elaborate scam. They feature promises of doubling investors’ money, reportedly accompanied by
screenshots of satisfied investors.
The WhatsApp messages involved a victim asking the fraudster to return the stolen funds. “I have blocked about 5 people that also invested 100k today,”
the fraudster replied in the conversation.
This conversation between a guy and a Binomo scammer is hilarious, and the ending is completely unexpected 😂🤦🏽♂.
Open Thread 👇🏼 pic.twitter.com/92rkucC16g
— Unruly King 👑 (@unrulyking00) December 4, 2024
Last year, the FCA
cautioned about a clone
Clone
A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for
A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for
Read this Term outfit dubbed Binomo Fx Trading, disowning
the company as offering services without its approval. The regulator provided the details of the unauthorized
firm, noting that it operated under the address Unit 1 Lancaster Court. Its email and website are support@binomofxtrading.com and binomofxlimited.com,
respectively.
Prolonged Social Media Scam
Scammers now use Facebook pages, Instagram accounts,
and even compromised LinkedIn profiles to promote a fraudulent scheme claiming
association with Binomo. “What is all these? Have you forgotten what I do for a
living? What I do for a living is scamming, bro,” the conversation continued.
“I won't block you on this line. In fact, I will save your number so you can see my status updates on how I spend your money,” the scammer continued.
This conversation between a guy and a Binomo scammer is the most hilarious thing you’ll read today
Open Thread 👇🏼🤣🤣 pic.twitter.com/DZsSOQCheW
— Enugu Ezechiteoke 🌹🌻🌺 (@Onyekaa_Ezugwu) December 2, 2024
In another instance, a Nigerian court convicted two
individuals in 2021 for using the Binomo name to defraud unsuspecting investors,
according to local news agency Kano Focus. Meanwhile, platforms like Instagram have reportedly suspended
accounts like “@biinomo” for deceptive practices, but similar scams
continue to proliferate.
The scam’s reach extends beyond social media. In
Indonesia, fraudsters masquerading as Binomo agents reportedly caused financial
losses exceeding 30 billion Rupiah. The victims reported that the fraudsters used influencers and flashy promotions to lure them into the scheme.
pic.twitter.com/ZOKKH1Y1zN
— Enugu Ezechiteoke 🌹🌻🌺 (@Onyekaa_Ezugwu) December 2, 2024
Authorities Flag the Social Media Scheme
Unfortunately, since the operation is illegal, victims
have yet to recover their funds. Indonesian authorities have now declared Binomo and
similar platforms illegal, classifying binary options trading as gambling
rather than legitimate investing, according to the local media publication Jakarta Daily.
pic.twitter.com/9gXmtltdcN
— Enugu Ezechiteoke 🌹🌻🌺 (@Onyekaa_Ezugwu) December 2, 2024
In some regions, victims have banded together to
expose the fake investment platforms. In Indonesia, law enforcement set up hotlines for
reporting Binomo scams, and grassroots efforts encourage whistleblowing to
educate others.
Bappebti, the Indonesian regulatory body, also advised
potential investors to remain vigilant. They recommend questioning the
legitimacy of platforms and avoiding high-return promises without
underlying assets.
Disclaimer: We could not confirm the identity of the scammer, the victim, or the individual who posted the tweet.
