Business ProfileforBinance Option Trade
Cryptocurrency Exchange
Current Alerts For This Business
Alert:
BBB completed an investigation on the business after receiving a complaints from a consumer that referenced the business was in the Texarkana area for possibly running an illegal cryptocurrency cloud data mining service. Cloud mining allows you to mine cryptocurrencies like bitcoin without having to purchase the expensive hardware required to do so by allowing users to rent server space to mine for coins at a set rate.
This company has been verified to be a scam, victimizing people online with a fake cloud data mining service. The scam works by the scammer promising large returns but fails to disclose a range of hidden fees charged after the initial server rental. This allows the scammer to make the user pay more money to get out of the contract. The scammer also impersonated an International Monetary Fund representative trying to collect additional money to release the consumer's portfolio.
Cryptocurrencies are complicated, very confusing to new users and lightly regulated by state or federal agencies. Unlike money stored in a traditional bank account, which is insured against theft, digital assets such as cryptocurrency cannot be retrieved, and transactions cannot be reversed in the case of theft or cyber hacking. The FTC offers tips if you considering making any transactions with Bitcoin https://www.consumer.ftc.gov/articles/what-know-about-cryptocurrency
BBB warns consumers if they choose to use or invest in cryptocurrencies, use extreme caution. Be sure to do your homework first, to understand the rules and risks of cryptocurrency transactions. Cryptocurrency is now the second riskiest scam in 2019 BBB Risk Report shows 68.5% of people that reported a cryptocurrency scam lost money and 23.4% of individuals said they purchased cryptocurrency as an investment opportunity. To learn more about how cryptocurrency works, check out https://www.BBB.org/Crypto, a resource developed by BBB and FINRA
Additional business information
Additional Info:
BBB completed an investigation on the business after receiving a complaints from a consumer that referenced the business was in the Texarkana area for possibly running an illegal cryptocurrency cloud data mining service. Cloud mining allows you to mine cryptocurrencies like bitcoin without having to purchase the expensive hardware required to do so by allowing users to rent server space to mine for coins at a set rate.
This company has been verified to be a scam, victimizing people online with a fake cloud data mining service. The scam works by the scammer promising large returns but fails to disclose a range of hidden fees charged after the initial server rental. This allows the scammer to make the user pay more money to get out of the contract. The scammer also impersonated an International Monetary Fund representative trying to collect additional money to release the consumer's portfolio.
Cryptocurrencies are complicated, very confusing to new users and lightly regulated by state or federal agencies. Unlike money stored in a traditional bank account, which is insured against theft, digital assets such as cryptocurrency cannot be retrieved, and transactions cannot be reversed in the case of theft or cyber hacking. The FTC offers tips if you considering making any transactions with Bitcoin https://www.consumer.ftc.gov/articles/what-know-about-cryptocurrency
BBB warns consumers if they choose to use or invest in cryptocurrencies, use extreme caution. Be sure to do your homework first, to understand the rules and risks of cryptocurrency transactions. Cryptocurrency is now the second riskiest scam in 2019 BBB Risk Report shows 68.5% of people that reported a cryptocurrency scam lost money and 23.4% of individuals said they purchased cryptocurrency as an investment opportunity. To learn more about how cryptocurrency works, check out https://www.BBB.org/Crypto, a resource developed by BBB and FINRA
This company has been verified to be a scam, victimizing people online with a fake cloud data mining service. The scam works by the scammer promising large returns but fails to disclose a range of hidden fees charged after the initial server rental. This allows the scammer to make the user pay more money to get out of the contract. The scammer also impersonated an International Monetary Fund representative trying to collect additional money to release the consumer's portfolio.
Cryptocurrencies are complicated, very confusing to new users and lightly regulated by state or federal agencies. Unlike money stored in a traditional bank account, which is insured against theft, digital assets such as cryptocurrency cannot be retrieved, and transactions cannot be reversed in the case of theft or cyber hacking. The FTC offers tips if you considering making any transactions with Bitcoin https://www.consumer.ftc.gov/articles/what-know-about-cryptocurrency
BBB warns consumers if they choose to use or invest in cryptocurrencies, use extreme caution. Be sure to do your homework first, to understand the rules and risks of cryptocurrency transactions. Cryptocurrency is now the second riskiest scam in 2019 BBB Risk Report shows 68.5% of people that reported a cryptocurrency scam lost money and 23.4% of individuals said they purchased cryptocurrency as an investment opportunity. To learn more about how cryptocurrency works, check out https://www.BBB.org/Crypto, a resource developed by BBB and FINRA
At-a-glance
Business Details
- Location of This Business
- 4251 Summerhill Road, Texarkana, TX 75503
- BBB File Opened:
- 6/18/2021
- Alternate Business Name
- BINMAXOPTIONS
- Contact Information
Principal
- Mr. Richard Fernances, Broker
Customer Contact
- Mr. Richard Fernances, Broker
Customer Complaints
1 Customer Complaints
Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews
File a ComplaintMost Recent Customer Complaint
05/29/2022
- Complaint Type:
- Product Issues
- Status:
- Unanswered
date of the transaction : 19/5/2022 DD/MM/YY
amount of money : 24,390.24 USDT
p2p trade
i paid to someone with my website bank account and i provided proof of that and customer support ask me 10 times to record a new video last video CS asked me to provide it with Bank App and i did it with all requirements CS told me that need to proof again 2 minutes that wasn't requirements i provided all video with rules
Account id : XXXXXXXXX
order Number : XXXXXXXXXXXXXXXXXXXX
Case id : #XXXXXXXX
Customer Reviews
5 Customer Reviews
What do you think? Share your review.
Most Recent Customer Review
Thapelo H
1 star12/30/2022
Stay away from Binance also a scam. I first deposited $1100 into Binance on the 28th of November 2022 by a trader named Martha ******** whom I had been referred to by a friend. And then the Martha asked me to transfer it to trading platform called Cryptobanxtrade.com. I was then asked by Martha to invest another $1700 which I did deposit again into the Binance account. I found out that Cryptobanxtrade was a scam and so I did not transfer the $1700. I quickly informed Binance that I had been scammed the $1100 by Martha and Binance responded by saying I should send my ID and etc to prove that I was owner of this account. Binance disabled my account on the 14th of December 2022. I have been scammed again this time by the very people I was reporting the scam too. I have not gotten another response since they asked me to login and following prompts which when code is requested the code is sent 30 minutes late and the request will have expired and I spent a whole afternoon requesting codes only for codes to have expiredits a game they play to no avail. They made it impossible for me to reactivate my account so they can keep my $1700. This a lot of money guys. when you contact customer service they repeat the same lines as if you talking to a robot. Nor resolution.
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