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Ridiculous FIL help crypto

52 replies

brokengate · 11/05/2021 12:13

Please can someone advise.

My elderly father in law, without my knowledge, has invested in this. I'm seeing him tomorrow but will copy his message below. I have zero idea what he's talking about, or how it works. Is there anyone who can advise what to do.

He knows nothing about this, can barely turn on the computer. I actually had to double check the message was even from him. Blushthey were scammed last year, hmrc phone call, that's the level of understanding. From what I can see with a brief Google binance looks ok the other does not. What information should I get from him? Thank you so much if you can help. Need this like a hole in the head.

Message
Confidential , can you help me? I think the crypto currency team I invested in is a scam. Can you have a look. Binance and flexam are the platforms I've Been working on. They won't give me the money back unless I pay commissions and tax upfront.

OP posts:
Viviennemary · 15/05/2021 14:56

Crypto is a scam. And full of crooks. 80% of investors lose their money. It is unregulated they can do what they like Report it.

Roomba · 15/05/2021 15:05

There are a lot of cryptocurrency related MLMs around at the moment and they are blatant Ponzi schemes. Often run by companies based in countries with few laws about this stuff. I read of someone whose relative had fallen for one on Reddit yesterday. Hopefully he's not got involved with something similar.

If it is a genuine investment scheme then yes, there will be fees and possibly taxes, depending how much profit he's made.

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