Cryptobinarytrade.com, a relatively new website, has been found to be involved in fraudulent activities. The site promises significant growth on investments, but after the money is invested, the fraudsters abscond with it. The website, at the time of discovery, was a mere 95 days old. The absence of a customer service phone number on the site raises suspicion. The content on the website is not unique, it mirrors other similar websites. The business address listed on the website is not authentic. Furthermore, several pages on the site are incomplete and filled with default content and placeholder text.
An investment scam is a deceptive practice where fraudsters convince individuals to invest money with promises of high returns. However, once the money is invested, the scammers often vanish, leaving the investors with significant losses.