Argo Coin’s Cryptocurrency Scam Leaves Customers Stranded After Vanishing With Funds
Initially, the platform seemed trustworthy, delivering on its promises by allowing users to make withdrawals and even enticing them with a “tax-free” withdrawal day scheduled for October 16th.
By Anna B Kiwanuka
In a shocking turn of events, Argo Coin, a fraudulent crypto entity posing as a Nigerian subsidiary of the reputable Bitcoin mining giant Argo Blockchain, has disappeared, leaving its customers in financial ruin.
Victims of the scam, who had believed in the legitimacy of Argo Coin, have been left devastated. One victim shared his harrowing experience, revealing that he lost over 600,000 naira to the scheme since joining in May. Initially, the platform seemed trustworthy, delivering on its promises by allowing users to make withdrawals and even enticing them with a “tax-free” withdrawal day scheduled for October 16. However, on this fateful day, many users found themselves unable to access their funds, and the Argo Coin mobile app and website mysteriously ceased to function.
The problems escalated further when the company, in an attempt to cover its tracks, claimed to have encountered technical issues due to excessive withdrawal attempts. In a bid to regain access to their funds, users were coerced into purchasing “rebates” for $50, promising a lucrative 500% return within five days. Eager to recoup their losses, many users fell for this new investment opportunity, only to find themselves deceived once again.
To add to the confusion, a circular surfaced on Facebook on October 22, supposedly from Argo Coin, stating that two of its managers, Dawson Verus and William Lide, had been arrested by British authorities. The company urged its clients to visit a new website, “argocoin.vip,” and deposit more money to access their old accounts and initiate withdrawals. However, both the old and new websites have since become non-functional, leaving victims with unanswered questions and shattered hopes.
The disappearance of Argo Coin serves as a stark reminder of the risks associated with the cryptocurrency market and the importance of conducting thorough research before investing. As victims continue to seek justice, authorities are being called upon to investigate this elaborate scam and bring the perpetrators to justice.