Binomo: Underrated but still dangerous.

By Rayyan Tilde

It has been long since I wrote any article, I was busy with so many things. I am even writing this because it needs urgent attention; people need to be aware of this underrated but yet dangerous fraud.

Binomo investment is a type of scam where someone will ask you to deposit a certain amount and get 6x the value in 30 mins.

Many of us are aware that bitnomo investment is a scam but there are a few that don’t know about this; that is why there are many more bitnomo fraudsters

than before. If to say they are not getting what they want, they will have given up by now.

Effect

Last week, 3 of my sister’s close friends where defrauded by binomo fraudsters using Instagram. Let me give you the story of one that was defrauded 60k.

One fraudster was able to convince her friend into giving him her account details. He then hijacked her Instagram account and started messaging her friends. He was sending them a message about binomo investment; convincing them to invest so that they can double their money.

When this lady that was defrauded 60k received the message, she asked her friend whether the business is legit; they replied yes. She was convinced that it was legit; not knowing that she was chatting with a fraudster not her friend.

She transferred 60k to them under the..

condition that she will be given 600k in few hours. They were able to obtain her account details from her, which they also used to hack her Instagram.

It is so unfortunate that people are not aware of all this scams. To all of us laughing on these binomo fraudsters, I hope..

you can see how they are manipulating people into sending them money. I know it is foolish for someone to send money to someone that he have never seen before.

Lesson

I hope this will serve as a lesson to others. Never send money to someone that you do not know; even if he..

promises you the entire universe. Why are we in a hurry to make easy money? There is nothing like easy money in this world. If they can double your money for you, they will never do it for others; they will keep doing it to themselves.

Secondly, giving your login details to someone that is not close to you is dangerous. You will serve as an amplifier to his devastating work; he will use your image to perform whatever he wants. So sad that some people were even sending their bank account’s one time password(OTP)

and email login details to these fraudsters.

Effect on online transactions.

This is one of the reasons why most people will never trust online shopping or sending payments to social media vendors. It is affecting the online market industry badly. How do you expect these

people that were defrauded by these fraudsters to do any transaction online? It cannot be possible.

Lastly, I want to call on the authorities to look deeply into this matter. These fraudsters are using a bank account to receive the money; tracking the money is possible because

I believe if the money has to pass a thousand accounts before it will be withdrawn; you can trace each and every account up-to the last one; else I don’t know the importance of all the BVN process that one has to follow to activate his account.

Rayyan Aliyu Tilde
23-11-19

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