Gal Barak (The Wolf of Sofia).

A successful operation of the enforcement authorities in Austria, Germany, the Czech Republic and Bulgaria has led to the arrest of some persons, among which the Israeli citizen Gal Barak, also known as “wolf of Sofia”. He is accused of running an online trading scam ring that has stolen over 100 million Euro form actual investors across Europe in last year alone.

The Wolf of Sofia himself. I bet he can’t save himself this time haha..

The organization run by Barak operated a number of fake online crypto, forex and binary options brokerages, which includes: XtraderFX, OptionStars, OptionStarsGlobal, Golden Markets, SafeMarkets, CryptoPoint, 60op.com, Trade.com, OptionBit and Option888.

Following initial reports, these websites above have accumulated at least 66 million Euro from investors mainly across Europe, of which about 11 million Euro from retail traders in Germany and Austria

Gal Barak has been widely recognized to bribe politicians, officials, and business partners to increase his fortune and escape punishment (I call this politicking or persuasion haha). In the end, Gal Barak might not stand the chance of succeeding. After his last appearance before the court. Soon FinTelegram will bring an extensive report on Gal Barak and his scheme. Be ready guys.

These are the very five stages of binary option scam, I don’t know who needs to see this.

While there has been much discussion on the role regulators could play in the face of events like this, I will continue to stress the need for customers/users to take the lead in educating themselves. Perhaps, you don’t have to sit there and keep blaming yourselves- brass yourselves up and recompense your lost funds by signing up with Finance-Recovery China (FRC: CH) and get back on your feet. You can do your research, read reviews, but I’ve seen actual users get actual results.

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