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Scams are not a new phenomenon in the crypto business as they are common and many people are being deceived every day. A trading robot was recently fired in Indonesia for fraud.
Fahrenheit’s trading robot company recently experienced a downturn, recorded and shared by YouTube artist Roy Shakti. They announced the bankruptcy of the trading robot company on their YouTube channel on Monday, March 7, 2022.
Shortly after the announcement, many began asking about the Fahrenheit scandal. Here are some details shared by the YouTube artist.
Briefing on Fahrenheit
Fahrenheit is a trading robot company in Indonesia that automates crypto trading using the online broker Lotus International LLC. The trading robot has been providing exclusive services since July 2021. The trading robot claims to earn 1% from daily trading with 30% earnings per month before the profit is shared.
The robot trades manually and is assisted by an expert advisor or robot. Recently, there have been rumors that trading robots are deliberately scammed by margin calls or MCs. This situation has affected many traders.
What is the Fahrenheit scam?
The Fahrenheit trading robot is supposed to be a scam by deliberate margin calls. As part of the scam, member accounts have to bear the brunt of the merchants’ communications group.
According to economist Roy Shakti, Fahrenheit members’ accounts are getting margin calls. This shows that the accounts of the members are constantly sinking. MC mode is managed by the management team of the trading robot, which led to the Fahrenheit scam.
The situation has upset all the members and they are wondering how to avoid such scams. However, the management promised to do WD for the members. Fahrenheit and its affiliates have been blocked by CoFTRA and are considered illegal trade bots.
Who reported the scam?
On March 7, 2022, a financial expert shared a video on his YouTube channel, named Roy Shakti, who discovered and reported the scam. It recorded the collapse of the trading robot. Furthermore, he shared a screenshot that shows that member accounts in the Merchant Communications group are suffering huge losses.
He revealed that a margin call had been made to the member’s account, which led to the Fahrenheit scam. He shared a video in which the member lost all his deposits, showing the debt balance. In the end, the authorities did MC together and blocked the trading robot.
Summary
Fahrenheit is a trading robot company that helps in online trading. However, financial expert Roy Shakti has exposed and reported a scam on his YouTube channel. This shows that the accounts of the members are going through margin call, and hence a scam is taking place where the accounts are being hacked.
The Fahrenheit scandal was reported on March 7 to warn members of the Fahrenheit scandal. Anyone who trades with a robot should check the account to see if there is an MC in the account. Also, learn tips on how to protect yourself from scams.
Conclusion
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