Txex - WhatsApp educational and investment platform scam

How the scam works: 

• The scammer sets up a series of WhatsApp groups, these appear popular, but are mostly filled with bots. 
• The WhatsApp group is led by a “mentor, “coach” “professor”, “assistant” or “crypto adviser”.  
• The scammer will promise 100% returns with “trading signals” shared throughout the day.  
• Users are encouraged to invite new recruits, and they receive rewards for each person they recruit.  
• The groups may display a leaderboard and offer exclusive prizes such as cars for those that reach the top. We believe these leaderboards are fake and that you will not receive any of the prizes advertised.  
• Users are instructed to open an account at a cryptocurrency exchange and load it with funds from their bank account. They are then instructed to transfer this cryptocurrency into a so-called “trading account”.
• The scammer will introduce the user to an investment platform which comes highly recommended. The platforms have gone to great lengths to appear authentic by gaining overseas licences.
• The user will be able to make a few trades, so they believe the platform is authentic and encouraged to invest more funds.
• When the user asks to withdraw funds, they are told they must pay a significant fee to release the money. But even if these fees are paid, no money is returned. 

If you are invited to join these groups please share our warning to keep them safe.