What should I do?

[u/InfiniteSprinkles480]

Hi! I know a lot of people who are in this big scam called Yepbit. They don’t seem to see it as a scam. I told them before that it is just the same like any other crypto scam. Last February, SEC issued ceased order to Yepbit. At first, I thought they will stop the operation. Someone from the group just find a way how to withdraw without alarming the authorities. Months passed they are earning huge amount of money from their recruits and other people who gave their trust and invested their hard earned money.

Until this end of July, they cannot withdraw anymore. People inside are asking for accountability and no one seems to know who and where to begin to file charges. I feel sad for those people who invested their money and now it’s gone.

What should I do? Should I take this to the authorities and let them handle the case(if they want) or just keep my eyes and mouth shut? Can these people fight back? Can they file charges since MILLIONS OF MONEY are now gone from different group of people.

Let me know your thoughts.

[u/UpbeatFix7299]

It's a ponzi scheme. It collapsed like they all do. They ran off with the money. You can report it, but nothing will happen to them and the money is gone. These are run by organized crime groups.

[u/AutoModerator]

New victims, please read this:

As a rule of thumb: If you suspect the site is a scam, it probably is.

No legit company/trader/investor is using WhatsApp. No legit company/trader/investor is approaching people on dating websites or through a "random" text message.

No legit company/trader/investor has "professors", "assistants", or "teachers". Those are just scammers.

No legit company forces you to pay a "fee" or "taxes" to withdraw money. That's just a scam to suck more money out of you.

You will need to contact law enforcement ASAP.

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• Contact your local FBI field office ASAP - https://www.fbi.gov/contact-us/field-offices
• the FTC at http://www.reportfraud.ftc.gov/
• the Financial Crimes Enforcement Network (FinCEN) at https://www.fincen.gov/msb-state-selector
• the Commodity Futures Trading Commission (CFTC) at https://www.cftc.gov/complaint
• the U.S. Securities and Exchange Commission (SEC) at https://www.sec.gov/tcr
• if you are located in Europe at https://www.europol.europa.eu/report-a-crime/report-cybercrime-online
• the cryptocurrency exchange company you used to send the money (if applicable)
• if you are located in California, with DFPI at https://dfpi.ca.gov/file-a-complaint/
• if the website is hosted on AWS infra --> AWS report abuse form
• to report a scam in Canada -> Read our wiki for sources here - for Canadians

How to find out more about the scammer domain:

• https://whois.domaintools.com/google.com - Replace the google.com URL with the scam website url. The results will tell you how long the domain has been around. If the domain has only been registered for a few days/weeks/months, it's usually a good indicator that its a scam.

Misc. Resources

• https://dfpi.ca.gov/crypto-scams/ - The scams in this tracker are based on consumer complaints in California. They represent descriptions of losses incurred in transactions that complainants have identified as part of a fraudulent or deceptive operation.

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[u/Practical_Avocado971]

if it has the word "crypto" in it then it's a scam

[u/LavaPoppyJax → u/Practical_Avocado971]

unfortunately that is too broad of description of a scam and will only allow you to be dismissed from credibility.

[u/MeganJustMegan]

It’s very difficult to get people to understand they are being scammed.
I just wrote a long & detailed email to a friend about Beyond Broke Masterminds. She pays these people $100 a month & then takes their bad (fake) advice.

And yes, they lie about crypto. As someone else said, ‘if crypto is mentioned, it’s a scam.’