Crypto Scam Report

Reported by : CryptoD, 02/09/2020

Votes: 3 -Scam!

Scam description
AMFEIX was a BTC investment fund that promised monthly returns and for over a year they had delivered on this promise. Users were able to invest in and withdraw with ease. The fund had monthly returns from 5% to 25% +/- and had a very happy community. Shortly after the Bitcoin halving all withdrawals were locked. AMEIX at first claimed it was an issue with the halving, after a few weeks and some insider information from a former employee they told investors that one of their developers had stolen some BTC and had set up a hack that captured users passwords and keys when they logged in. They told the community that they were keeping everything locked down to protect users and that they were working with a developer to find a solution which would allow them to KYC users to their original account. One of the community members was an experienced blockchain developer. He worked with the company and presented them with a solution. Mind you, during the weeks and months that this all is going on, communication was almost non-existant, with investors left to speculate. Worse is if someone said something in anyway negative in the telegram room, they were removed from the community. So investors were basically scared into silence. After a couple of months AMFEIX released a new whitepaper linked here, which basically described a new project, additional fees, and threats to ban users and hold up processing on their funds if anyone was to put anything negative out about the fund. You can see some of the screenshots of those sections from that whitepaper below. On top of the gag order, they implemented a retroactive 5% fee to withdraw if/when they ever get withdrawals working again. This new Whitepaper is proposed as a change to their terms. However, users didnt agree to initial terms when joining. In addition, users werent given the ability to exit if they didnt agree with the new terms. AMFEIX trys to point to services like Google or Facebook who will change their terms and you have to accept to use. The issue here is that when you signed up for those services you agreed to an initial terms of service which stated that they can change the terms. AMFEIX didnt have any such initial agreement, and AMFEIX is holding the BTC of users which the users cannot access or withdraw for the last few months, or the forseable future. My question is this. Even if AMFEIX is able to get this fixed and release their new bank, who is going to invest in a bank that locks people out of their funds? Blackmails their users to stay quiet, and implements a 5% fee to get their money back? Their website says after you have submitted a withdrawal, it will take 24 hours for the fund to liquidate your positions and send you your BTC. This is a link to a site which will show all the past withdrawals and the current pending withdrawals, you can see the date that they locked everyone out and just how many people are waiting for their withdrawal to clear, hit the Pending Withdrawal Button - - Here is a link to the fund information showing that they hold 6,543 BTC At the time of writing they are holding $78,516,000 worth of the communities Bitcoin hostage. Thats a lot of BTC!!! I feel that its high time for some agencies to initiate an investigation here, and for an audit to be completed to show that all funds are still there and that they havent been used during this time that investors have been locked out. I have a few questions: 1. Does AMFEIX still have everyones BTC? 2. Has AMFEIX been trading, or otherwise investing, with our BTC for their own profit? 3. Is AMFEIX actually working with developers to fix the original issue, not building a new project? 4. What is the ETA of the withdrawals to start working again?
Scammer type
Scammer's link
Scammer's Photo
AMFEIX Website stating 24-hour withdrawal
AMFEIX Website stating 24-hour withdrawal