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With the growing popularity and adoption of cryptocurrencies, scams and thefts have surged significantly, affecting individuals. In a recent development, a Mexican media outlet reported that more than 2950 people have been victimized by an alleged crypto trading bot-themed scam.
This is not the first time this reported scam has come into the spotlight after being covered by Milenio, and it is named a ‘cryptocurrency company’ which is named AMG GPT. The additional information notes that the alleged firm has offices in Puebla and Tehuacan, which were shuttered in recent weeks.
While talking to the media the majority of AMG users claimed that they deposited their funds after they were promised a daily profited payout. Some also allege that after their deposit they aren’t available to withdraw the funds from the trading bot. The victimized users further said that they initially earned profit over their investment, in multiple events held all across the region.
Once the alleged scammers succeeded in gaining the trust, they stopped the payout in order to make a profit from the investor’s money.
A customer who raised complaints over the restricted withdrawals was told by the company’s official that to withdraw his funds, the user is supposed to pay a verification fee.
Some investors told the outlet that they filed complaints against the company and even tried to reach the company and its officials in search of satisfactory answers.
The reporting firm stated ” The offices in Tehuacán have completely disappeared, leaving the premises empty. And, although some supposed ‘leaders’ have been identified, they have also claimed to be victims of fraud. They state that they do not know who is responsible for the scheme.”
It is worth noting that ongoing advancement and diversification in the technology world have created hundreds of boons and thousands of banes, which are also helping scammers and bad actors victimize innocent people.&nbsp; Scams &amp; Hacks becoming a ‘Headache’ of the Crypto market! 
Identifying scams is becoming really hard nowadays, but one can remain safe and keep his/her assets by following the available security features such as two-step authentication, google authenticator, and backup codes and by activating advanced security features offered by different service providers.
Since the beginning of this year till writing the wider cryptocurrency market has lost over $2 billion in hundreds of scams, frauds, and Ponzi schemes. Among the most affected platforms, centralized categories topped the list followed by DeFi and others
Pig butchering, Romance Scam, Ponzi Schemes, and Pump Dumps remain the highest committed in 2024, yet social engineering also gathered huge traction as it became the technique that helped bad actors wipe out millions.
The hacks of Ronin Bridge and WazirX remain the most talked-about hacks of the years. However, despite surging scams and hacks, the price of several <a href="https://news.todayq.com/floki-prices-grew-21-in-24-hours-whats-driving-it/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrencies </a>has outperformed, reaching new highs. Most recently, Bitcoin has surpassed its previous resistance, reaching above the mark of $93,000.&nbsp;
Not only BTC but a few others including Ethereum, Dogecoin, Pepe, Dogwifhat, Solana, Shiba Inu, and XRP have seen a staggering growth and inflow of fresh funds. Especially memecoin market has been at the top of the vast crypto market.&nbsp;

Crypto Trading Bot Scam: AMG GPT Defrauds Thousands- Report

Todayq News

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