How A Bitcoin Boiler Room Scam Works. Real Victims Tell Their Story!

Last Updated on April 25, 2022 by Stephan Lindburg

Today we have decided to put on our little Sherlock Holmes hat and start investigating around the boiler room scene. Our investigation has led us to a realization that an entire industry which is built on lies and deception has arisen, and the criminals behind it might alternate but they never really disappear.

This investigative report is about greed, and it’s ability to corrupt people who are just looking to make an honest living or income. We know that not everyone in the business starts off as an evil person, however the longer they remain the more this gluttony eats away at their soul until they eventually become a part of the system.

It is important to mention that Boiler room scams do not represent the entire crypto-trading industry. In most cases people involved in crypto-related businesses are normative law-abiding citizens.

What Is A Boiler Room Scam?

A boiler room is a call center where sales people try to lure potential victims into investing. The victims end up losing their money by investing in fraudulent schemes. In most cases people lose more money then they can afford to.

Our Investigation

Our investigation has taken us to the Ukraine, Sweden, London, Italy, France, and Finland. We have come across a wide spectrum of victims from all walks of life and we are of the opinion that no one is immune to these types of investment schemes. When reading the articles and listening to the interviews, we felt a sudden chill running down our spine. These victims are left devastated and have no money for food or even medicine in some cases.

Who Is Responsible?

The crooks who are working out of these boiler rooms are expert sales people who understand how to maneuver their way and trick potential victims out of their money. In a documentary which was produced by Dagens Nyheter, a Swedish news paper we can see a video named “Inside the Kiev Bitcoin Fraud Factory” which provides invaluable insights as to how a read Bitcoin boiler room operates. We have embedded the video below for you to see. Please be advised, there is use of graphic language.

Dagens Nyheter is a part of a group of publications which have joined forces in an attempt to expose the fraudulent aspects related to Bitcoin CFD trading, and as much as possible try to shed light on the people who are behind it. These publications are The Guardian in the United Kingdom, Irpi Media in Italy, Le Monde in France, Helsingen Sanomat in Finland, and Buzzfeed in the USA. All of these publications were operating in cooperation with occrp.org, which is a non-profit organization designed to combat organized crime and corruption.

While its true that these investigations occurred some time ago, the facts remain the same and should be viewed as a live testament and true account of how an entire eco-system of fraud has arisen from the ashes of the once popular binary options industry which is now banned in most countries.

Watch the video here

What Is The Milton Group

The Milton Group is the name of a company which was responsible for operating the daily activities of a Kiev-based call center. This call center was actually a boiler room which employed dozens of sales people whose job was to extract as much money as possible from in the fastest possible way. To the best of our knowledge it no longer exists.

If you have been reading our reviews here on ScamCryptoRobots.com, you will surely connect the dots at this point since we are constantly advising our members how how the scammers operate and this video is just living proof and testimony.

How To Know If You Are Being Targeted By A Boiler Room Scam?

Generally speaking you probably won’t. In most cases you will simply see an advertisement and click a link which directs you to a website which may or may not seem legitimate. But the first rule is to conduct proper research.

How To Identify A Genuine Review Website When Conducting Research

There are a few criteria which serve as an indication of a good review website.

1. A website that endorses all or most systems is a fake review website and not to be taken seriously. It’s just not logical that all systems perform well.
2. You can completely disregard press releases, paid, or sponsored articles. Those are basically a paid advertisement that shows up on Google search results, and that happens for any number of reasons we won’t get into at this point.
3. A polished look is does not guarantee an honest review. In fact, in most cases it is used to make the reviews seem more believable and in that way trick viewers.
4. Stick to industry websites. If you are checking crypto robots you should look for a website that specializes in that specific niche. Otherwise any Harry, Dick, and Tom can write whatever they wish and get away with it.

Crafty Affiliate Networks Specializing In Search Engine Promotions

We will not name any names here since we refuse to provide any form of free advertisement to the crooks who operate fake review websites. However, there is one name that keeps turning up and if you wish to know who is responsible you can read about it here. If you have any questions feel free to contact those people directly, or better yet complain to your local authorities. If you don’t know how to do that simply message us or ask Google how to do it.

Other than that if you are not sure you can always ask a friend or relative for advise. In most cases that will help you save the day.

Well-Researched, Tested Systems

Despite everything there are systems out there that can help you generate profits. Our staff tests them religiously on a regular basis and we make sure they keep performing every day. If you are searching for a genuine software you can check out our recommended section. We keep it updated.

To Sum Up

If you wish to avoid boiler room scams make sure to conduct proper research. If you are not sure of feel something “isn’t quite right”, please reach out and message us. We will try to answer quickly.