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Liquitrade LTD Caught Red-Handed Running Most Epic Ponzi Scheme Since That One Guy Who Sold Beanie Babies

Crypto NewsHackRegulation/Negotiation 3 Kevin Nelson August 15, 2024

An illustration of a giant beanie baby sitting on top of an empty crypto trading platform with red warning signs and broken screens all around him while he holds up his own Ponzi scheme sign. A few scattered coins are seen at his feet as well as some torn papers in the background that resemble contracts or receipts, hinting at the derivatives traded by users instead of actual assets. The beanie baby's face is a mix of guilt and panic with its eyes wide open while it looks down on the chaos below him.

And here we go again with another crypto exchange getting caught operating outside of regulations and ripping off their users! I mean who needs rules when you can just create a derivatives trading platform that trades contractual rights to assets instead? It’s not like anyone would notice. Liquitrade Ltd., get this, operated Latoken without registration in the province of British Columbia, which is apparently illegal or something (who knew?). But hey, at least they were upfront about it – their users didn’t actually buy and sell crypto assets; no way! They traded contractual rights to them instead. Because that’s exactly what people want when investing in a platform: uncertainty

Source: bitcoin.com

Canadian Regulator Probe Determines That Liquitrade Operates an Illegal Crypto Exchange
https://news.bitcoin.com/canadian-regulator-probe-determines-that-liquitrade-operates-an-illegal-crypto-exchange
The British Columbia Securities Commission (BCSC) said its investigation into Liquitrade’s crypto asset trading platform found that the company operated an illegal exchange. The probe also determined that users were trading contractual rights, not crypto assets, as the platform had claimed. On July 3, the British Columbia Securities Commission (BCSC) announced that Liquitrade Ltd. operated Latoken without registration, effectively running an illegal exchange in the province. The BCSC said a […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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