iEarn Bot Scam: $1.30M Reported Loss
According to the BBC, a scam called iEarn Bot has affected thousands of victims in several countries.
- Reported loss
- $ 1,300,000
- Attack category
- Scam
Incident Overview
In the scam, victims were persuaded to sign up for an "AI intelligent quantitative trading robot" called iEarn Bot, which appeared to successfully trade cryptocurrencies on their behalf. However, after some time, the victims realize that they are unable to withdraw their due earnings nor withdraw the funds they invested. iEarn Bot claims to be an American company, despite its website being riddled with misinformation. The man identified as the company's founder told the BBC he had nothing to do with the scheme, with companies and institutions listed as "strategic partners" saying they had no such partnerships. The BBC uncovered a cryptocurrency wallet that received payments from around 13,000 other people totaling close to $1.3 million.
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.