Bitcoin and the new Scam
Bitcoin is the future and I still believe in it. I was fascinated when I heard about bitcoin in 2012. But I didnt trust it enough to buy them. The buying price then was $5.
I have heard a lot by 2015 about bitcoin and how its the currency of future.
So I put in around $300 (Rs.14000) in a website called igot to purchase 1 BTC. The site was reputed, top in google search I transfered the amount into their bank account(Reputed Indian bank).
Finally I got the amount converted to 1 BTC and they have a wallet that holds the bitcoin. After few months on June 2016 I requested them to transfer the bitcoin to an external wallet, but they did not transfer.
After 4 months I get an email that your transaction for transfering the bitcoin was cancelled. I ignored the email as I was busy.
When I logged in to the account my bitcoin wallet showed “0”(ZERO) balance.I immediately raised a ticket to support team to know whats happening.
The reply I got on was as below:
We will be happy to assist you with your inquiry today.
Trades that were not completed before December 20th, 2016 are canceled and reversed.
The money is put back into your wallet.
This is how the scam is done. A bitcoin that is worth around $1000 at present was refunded to me at the price of the date that I traded my bitcoin i.e $310 (approx.)
Its like they took my money invested in Bitcoin and when the bitcoin started gaining , they took it away and returned the money.
And now I feel its impossible to get the bitcoin back because the Indian government does not support the Bitcoin.
Hope this article helps someone from getting into such scams.