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Binance trading platform: Cryptocurrency fraud

The number of fraud cases in the field of cryptocurrencies has increased significantly in recent times. Fraudsters also use trading platforms such as Binance.

The process of fraudulent activities is mostly similar. Potential investors are contacted by phone or via various messengers. Entry is initially possible with a relatively low investment amount. On simulated websites or with fake screenshots, the customers should be convinced of the functioning of the account and the supposedly high profits. It is not uncommon for investors to invest further capital as a result.

Customers often only realize that this is a fraud when they want to withdraw their money. In order to get to the capital, further payments should be made. Allegedly, these are necessary tax payments, government fees or security deposits. However, a payout does not take place and the alleged investment advisors are suddenly no longer available.

The investments are often related to opening an account on the Binance trading platform through which the payments are to be processed.

Binance: Withdrawal Complications

On the website, the payment service provider advertises with an uncomplicated payout of deposited sums. There it says:

“2. Comfort

Withdrawing crypto and fiat currencies on Binance is as straightforward as possible. All you have to do is log in to your user account and follow the steps above. The money is in your trust wallet or in your bank account within a very short time. Even conventional crypto trading and P2P trading are less complicated on Binance than on other crypto exchanges. “

However, there are more and more irregularities in payment processing or transactions.

Against this background, the law firm Bender & Pfitzmann has the Interest group Binance Germany founded. Here, investors can find information about the options for getting their capital back. Lawyer and specialist lawyer for banking law Dr. Johannes Bender advises investors to seek advice from a specialist lawyer at an early stage. So get in touch now and take advantage of the free initial consultation.

Engage a specialized law firm with a free initial consultation now

The law firm Bender & Pfitzmann from Düsseldorf, which specializes in banking and capital markets law, offers investors who are interested in Binance Deutschland GmbH & Co. KG have invested in a free initial consultation.

The lawyers Bender & Pfitzmann specialize in the areas of banking law, capital market law and insurance law. As an investor protection law firm, they advise and represent investors nationwide and support them in all legal questions in connection with failed investments. The specialist lawyers at the law firm Bender & Pfitzmann have extensive experience and success in both out-of-court and judicial proceedings.

You can find more information here.

Bender & Pfitzmann Attorneys at Law PartG mbB

New Zollhof 1

40221 Düsseldorf

T: 0211-16459440

F: 0211-16459449


Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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