iEarn Bot Caused A Ruckus Among The Investors: Many Individuals Lost Their Money On The App
Thousands of people's investments may have been lost as a result of the fake iEarn Bot cryptocurrency exchange program. According to some experts, this is the largest crypto fraud that has ever happened in the history of the cryptocurrency world.
Thousands of people’s investments may have been lost as a result of the fake iEarn Bot cryptocurrency exchange program. According to some experts, this is the largest crypto fraud that has ever happened in the history of the cryptocurrency world.
Roxana from Romania alleges she lost hundreds of euros after investing in iEarn Bot. She urged a BBC journalist not to publish her identity for fear of jeopardizing her professional reputation. Users who invested in cryptocurrencies with iEarn Bot, like Roxana, were informed that their money would be processed by artificial intelligence software, which would ensure high and consistent income.
Many Romanians were Shocked After the iEarn Bot Incident
The iEarn Bot application’s different graphs were also intended to persuade users of its functionality. They were then expected to show how much money the program produced.
“Everything looked quite professional until they started the maintenance,” Roxana added. Withdrawals from the application were stopped at that point, unfortunately. “Some individuals started saying, ‘I can’t do anything… what’s going on?'” Roxana explains. “I requested a withdrawal, and the money simply vanished. The iEarn Bot portfolio showed a zero, but no money was ever deposited to my wallet.”
The iEarn Bot Hid its True Nature Quite Well
This is not a unique incident, nor is it the first of its kind in Romania. Law enforcement organizations warn of an increase in the number of cryptocurrency frauds and encourage investors to exercise caution and assess applications. Nonetheless, cryptocurrency trading has grown in popularity in recent years, and investors frequently hope to get wealthy quickly.
Silvia Tabusca, a Romanian specialist on organized crime at the European Center for Law Education and Research, discovered that many individuals from different nations also lost their money to iEarn Bot. The scope of the operation astounded her.
The iEarn Bot app touts itself as an American enterprise with strong credentials. Nevertheless, following a deeper study, BBC journalists discovered significant concerns. For example, a man who is referred to be the company’s creator, according to his claims, had never heard of the application and filed a complaint with the police.
Together with Huawei and Qualcomm, the Massachusetts Institute of Technology is listed as a “strategic partner” of the application. Yet, none of them are aware of the firm, and all declare that they do not work with it.