The Blue Trading broker scam is perhaps the best example of how the new generation of cybercriminals combines the anonymity of the Internet with the familiar patterns of offshoring. The Blue Trading domain. for example, was bought with Bitcoins and nobody knows (so far) the people behind it. In this respect, Blue Trading is a challenge for the FinTel Watchdogs. Can the Watchdog’s decentralized intelligence defeat criminal energy?
Compared to many others, Blue Trading ”brand” scam went the extra step, providing a so-called managed account service that really did look like one, with ”money manager” being assigned to their account. A well thought strategy, targeting on more professional level then your average broker scam with ”dedicated account manager” a.k.a boiler room agent, trained solely for the purpose to take all of your money. Blue Trading victims were sort of passive investors, while ”professional traders” handled their money, until it was all gone eventually. But the damage goes beyond the direct clients, as the actual online trading Forex/CFD industry got a pretty bad overall reputation. Ordinary people simply do not know who to trust any more. Actual Money Managers and Forex Traders now have trouble getting new clients more then ever. So, it is about time that not only clients, but also individuals within the industry join forces, share and report anything they know to FinTel Watchdogs. We will take it from there.
We would really like to see more contributions in this forum.
Remember, Blue Trading was not just another average scam. It was a step up in that world and tracks seem to be well hidden.
But not well enough. Money leaves trace, even cryptocurrencies.