COIN IT IN, BUT NOT OUT
This made me laugh, in a bitterly ironic sort of way.
An online review of an investment outfit called Amfeix said that one positive sign was that it advertised on Google.
“This is actually huge for me as I have used Google Ads before and Google doesn’t mess around with non-legit companies,” it read.
The reality is that Google Ads is awash with scammers, so much so that I would actively discourage anyone seeking savings advice from using the search engine.
Amfeix is showing worrying signs of being another disastrous example.
It claims to be a bank where you can deposit Bitcoin and earn interest of 4% a month, which works out at an unlikely annual rate of 60%.
According to Amfeix, it is set to “outperform all other traditional banks and be a safe haven for wealth”.
Far from being safe, investors are now finding that they cannot take out their savings. One customer who deposited 0.75 Bitcoin, worth about £5,500, told me: “Amfeix is advertised heavily online and I was looking for an investment opportunity.
“Now I am deeply worried because no withdrawals are possible.” Jack Hudson, 22, was named on its website as the director of what, so far as I can tell, is its only incorporated business, Amfeix Enterprise Tradings Ltd, registered in the UK.
That was until he resigned in May, leaving the company with no directors, and it is now listed as due to be struck off the Companies House register.
Amfeix would not tell me who now runs the operation, and its Twitter account has only vaguely addressed the question of blocked customer withdrawals, saying: “Several key changes are being made behind the scenes for a long-lasting solution.”
It’s all looking rather bleak for “The world’s largest and most trusted Bitcoin bank”.
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I am deeply worried because no withdrawals are possible