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07 August 2024

WhatsApp educational and investment platform scam

The FMA is aware of an investment scam currently circulating New Zealand involving multiple WhatsApp groups, websites and investment platforms.

We may update this warning as we are made aware of further websites, as the names frequently change.

Some of these websites may have obtained licenses from overseas authorities or appear to be endorsed by media articles which have been written and distributed by the investment platforms to provide credibility.

The FMA reminds the public to always check the Financial Service Provider Register (FSPR) to see if an entity is registered to provide financial products and services to New Zealanders.

Visit the Financial Service Provider Register (FSPR)

How the scam works

  • The scammer creates an ad on social media platform offering free education or tips on investment trading. Users are then prompted to join a WhatsApp group after clicking the ad. Alternatively, the scammer may add phone numbers directly to a WhatsApp group, without the user interacting with an ad first.
  • The WhatsApp group is led by someone described as a “mentor, “coach” “professor” or “assistant”.
  • The groups promise unrealistic returns such as turning $100k into $10m within 6-12 months, with their help.
  • Gift cards, credit or free trades might be provided for attending sessions or completing educational training courses.
  • The mentor will introduce and recommend an investment platform to the victim. Scammers have gone to great lengths to make these online platforms appear authentic.
  • The investment platform will message users, helping them set up an account and make transfers.
  • The user will then be able to make several trades, believing the platform to be authentic, which encourages them to invest more money.
  • When the victim asks to withdraw funds, they are told they must first pay a fee to release the money; even if these fees are paid, no money is paid out.

If you come across these ads or investment platforms, do not click on them and don't give them your personal information or identity documents.

Learn more about Investment software packages and seminars

What to do if you think you have been scammed

  1. Stop all contact with the scammer and do not send any money. Report the group to WhatsApp and block the scammer on all devices.

  2. Contact your bank immediately. Ask if a transaction reversal is possible. If you sent money using another payment service provider, ask them to trace the funds.

  3. If you are getting spam emails and text messages, report these to the Department of Internal Affairs.

  4. Tell a trusted relative or friend what has happened. They may help you see the situation more clearly, help you deal with the scammers, and suggest what to do next.

  5. Contact Victim Support on 0800 842 846. They can provide free emotional and practical support and information.

Contacts to be wary of:

Entities:

  • JUHBZ
  • PTOUNZ
  • Spread Dynamics
  • Profit class
  • BTC-Alpha Club (Updated 5 November 2024)
  • Blockchain Discussion Group (Updated 22 November 2024)

Websites:

  • dynamic-arb.vip;
  • juhbz.org/#/;
  • ptounz.com/#/;
  • www.eth-alpha.com/; 
  • www.ptounxd.com/; 
  • www.ptounxxm.com/;
  • www.profitcs.net 
  • www.allpha-btc.com (Updated 5 November 2024)
  • www.allpha-eth.com (Updated 12 November 2024)
  • www.BIB-BTC.com (Updated 22 November 2024)
  • www.kcex-btc.com (Updated 22 November 2024)
  • www.icintapp.com (Updated 22 November 2024)
  • www.alphas-eths.com (Updated 22 November 2024)
  • www.whallefin-btc.com (Updated 22 November 2024)
  • www.thecopperint.com (Updated 22 November 2024)
  • www.appes-online.com (Updated 22 November 2024)
  • www.copperint.top (Updated 22 November 2024)
  • www.alppha-eth.com (Updated 22 November 2024)
  • www.icint24.com (Updated 22 November 2024)
  • www.alpha-eths.com (Updated 22 November 2024)
  • www.icmarketglobalpro.com (Updated 22 November 2024)
  • www.ic-market.co (Updated 22 November 2024)

Address:

  • JUHBZ - 1214, 370 17th Street, Denver, Colorado;
  • PTOUNZ - 1144 15th Street, Denver, Colorado;
  • PROFIT CLASS - International House, Constance Street 12, London, United Kingdom, E16 2DQ

Email:

Social media: JUHBZ

  • youtube.com/channel/UCNxuBpJCa7VZB-A
  • facebook.com/CryptoJUHBZ
  • twitter.com/JUHBZ Crypto

Social media: PTOUNZ

  • facebook.com/Ptounx
  • medium.com/@Ptounx
  • youtube.com/@Ptounx

International regulators' warning: