Shortly before the end of the year, the UK Financial Conduct Authority (FCA) issued a warning against the crypto scam BitBuysCoin (https://bitbuyscoin.com). The website states BitBuysCoin Ltd in London as the operator. This company does not exist. We have further determined that BitBuysCoin is just another mutation of a crypto-based High-Yield Investment Program (HYIP) or Ponzi scheme that also operates BitPlam (https://bitplam.com) or Earn Coin Today (www.earncoin.today). Stay Far Away.
These crypto-based Ponzi schemes offer investment plans to the high returns of 5% daily or 80% in 3 months. Deposits are currently only available via cryptocurrencies. These schemes work with referral systems and assume that each new user will acquire other users through their referral link. Payouts are likely to be made to some early clients of these Ponzi schemes so that they can acquire more victims. But after a few weeks, the payouts usually stop and the Ponzi scheme disappears. Earn Coin Today was online for only a few weeks before the website disappeared.
BitPlam was launched in September 2021 and, during October, already announced the sale of several hundred investment plans with multi-million euro deposits on its Facebook page. Bullshit. Stay far away!