BigWhale.io is an unregulated offshore broker operating in the crypto niche, which has recently raised concerns among clients and investors. This BigWhale.io review shed light on some of the alarming practices associated with the platform and warns against investing with them.
Website – https://bigwhale.io/
Website Availability – Yes
Address – NA
Warning – Not recommended by review website like Scam Bitcoin
Regulation – Unregulated, Offshore
Lack of Transparency and Authenticity
The broker’s website provides minimal information about its staff, using stock pictures instead of actual team members. This lack of transparency raises suspicions about the authenticity of the platform and its operations.
Dubious Claims and Promises
BigWhale.io claims to offer passive income opportunities, but it has come under scrutiny for making potentially false promises. The article highlights the danger of falling for returns that seem too good to be true, which is often a red flag for scams.
- Questionable FINCEN Certificate
Although BigWhale.io holds an FINCEN certificate for an MSB (Money Services Business) registration, the article points out that offshore scammers often obtain such certifications using false information. This casts doubt on the legitimacy of the broker’s operation.
Negative Reviews and Complaints
Many traders have reported negative experiences with BigWhale.io, leaving behind a trail of complaints. The article examines these reviews as evidence of the broker’s questionable practices.
Lack of Ownership Information
BigWhale.io fails to provide any ownership or executive information on its website, leaving investors in the dark about the people behind the platform’s operations.
Shady Domain Registration
The website domain “bigwhale.io” was privately registered on January 30th, 2023, adding to the suspicions surrounding the broker’s legitimacy and intentions.
Marianna Vilchez’s Association
Marianna Vilchez, who represents BigWhale’s Media Relations department in marketing videos, is also an Executive Assistant at Quizam Media Corp, a Canadian firm unrelated to financial services. This raises questions about her qualifications and the legitimacy of her involvement with BigWhale.
Dubious Claims of External Revenue Generation
BigWhale claims to generate external revenue by providing banking services to high-risk clients in various industries, such as Crypto, Legal CBD Oil / Hemp production, and others. However, the article reveals that no evidence of these services is provided, raising doubts about the legitimacy of their revenue sources.
No Registration with British Columbia Securities Commission
Both BigWhale and Marianna Vilchez are not registered with the British Columbia Securities Commission, suggesting possible securities fraud.
Lack of Retailable Products or Services
The platform lacks retailable products or services, and affiliates can only market BigWhale affiliate membership itself, which is a concerning characteristic of a potential Ponzi scheme.
Promise of Daily Passive Returns
BigWhale entices affiliates to invest in Binance Coin (BNB) with the promise of daily passive returns, a common red flag associated with Ponzi schemes.
BigWhale.io Review Conclusion
After a thorough BigWhale.io review, it becomes evident that the platform is likely running an obvious Ponzi scheme, using new investors’ funds to pay earlier investors. The lack of transparency, ownership information, and association with questionable entities, along with the absence of registered securities with relevant authorities, further solidify the suspicions of securities fraud. This article strongly advises against any involvement with BigWhale.io and encourages investors to exercise extreme caution when dealing with unregulated offshore brokers.
Are you a victim of BigWhale.io scam? Get help
If you believe you have fallen victim to the BigWhale.io scam, seek assistance from Scam Bitcoin for recovery. With our expertise in dealing with scams, we can help you navigate the process of reclaiming your funds and provide support during this challenging situation. Act promptly to protect your interests.
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