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DAO Binary Options
The DAO binary options scam was facilitated by entities like Northwestern Management Services Ltd and PSPs like Payotech Ltd, using offshore jurisdictions and complex payment processing to conceal fraudulent transactions and evade regulatory scrutiny.
Quick summary on DAO Binary Options
Northwestern Management Services Ltd was instrumental in enabling the DAO binary options scam. The company helped establish DAO Group Ltd and provided trusted agents, Genevieve Magnan and Jonathan Bibi, as officers. These agents, serving as nominee directors, concealed the identities of the real beneficiaries, allowing the scam to operate with minimal oversight. Offshore jurisdictions were key to maintaining this level of anonymity.
Payment Services Providers (PSPs) and Their Role
PSPs like Payotech Ltd and Moneta International UAB played a crucial role in facilitating the fraudulent transactions behind the DAO binary options scam. These companies processed payments, obscuring the movement of funds and making it challenging for regulators and victims to trace the stolen money. Their involvement was vital to the scam’s operation and its continued success.
Design and Execution of the Scam
The DAO scam followed a common blueprint used in binary options fraud, with offshore incorporation, front directors, and sophisticated payment processing. Platforms like Facebook were used to lure victims by promising high returns, while the rapid shutdown of operations minimized exposure to regulatory scrutiny.
The Israeli Connection
Israeli nationals were involved in orchestrating the GoldmanOption scam, aligning with a broader trend within the binary options fraud ecosystem. This connection emphasizes the need for international cooperation to address such cross-border financial crimes.
Legacy and Ongoing Challenges
Despite crackdowns, the legacy of binary options scams remains, requiring improved oversight of PSPs, tighter controls on offshore entities, and better investor education to combat future fraud.
by: Laura Johnston
I put $7,000 into DAO Binary Options, thinking it was a legitimate investment, but I ended up being scammed. The payment providers hid everything, and now I’m left with nothing but financial loss and a sense of betrayal.
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by: Kyle Spencer
I trusted DAO Binary Options with $4,500, only to realize it was a complete fraud. The platform shut down, and no one is answering my requests for a refund. It’s heart-wrenching to see everything vanish like this.
by: Jessica Hicks
After investing $3,200 into DAO Binary Options, I was lured by their promises of big profits. Instead, I’ve been completely ignored, and I can't even get my money back. It’s devastating to know I was tricked.
by: Ian Ford
I lost $5,000 to DAO Binary Options, and I feel completely scammed. They promised high returns, but it was all just a facade. I never received any support, and now I’m left with nothing but regret.
by: Kevin Foster
My life savings of $32,000 were funneled into DAO’s fake trading scheme and all I got was silence from offshore directors and PSPs who helped them vanish without a trace
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by: Julia Carter
My $31,000 vanished through Moneta International and Payotech as I tried to chase profits on DAO Group Ltd’s platform only to realize too late it was all a sophisticated offshore scam😥
by: Isaac Cooper
I lost $27,000 to the DAO binary options scam and every time I tried to get answers I was redirected or ignored while Genevieve Magnan and Jonathan Bibi kept hiding behind fake offshore setups
by: Grace Carter
I invested my savings after seeing their ads, only to realize too late that everything was fake. They used every trick in the book to steal my money.
by: Logan Barnes
DAO Binary Options ran a well-planned fraud fake directors, offshore accounts, and payment processors hiding stolen funds. People lost thousands, and no one is held accountable.
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by: Brianna Reed
These scammers tricked me into thinking I was making profits, but when I asked for my money back, they vanished. I feel completely robbed😥
by: Mason White
Lost $10,000 to DAO Binary Options promised high returns, but it was all lies. The moment I tried to withdraw, they blocked my account. Absolute scam.
by: William Scott
I sent $12,900 to DAO Binary Options, thinking I’d make profits, but instead, I lost everything in an instant.
by: Chloe Wilson
I thought I was securing my future with DAO Binary Options, but instead, I lost $13,600 in a scam that left me completely hopeless. No withdrawals, no support, just a cold, empty feeling of loss. It’s soul crushing knowing I...
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by: Andrew Phillips
DAO Binary Options scammed me out of $11,500, and now I’m left drowning in regret with no way to get my money back.
by: Sara Menon
dao binary options is a total scam, lost all my money and they won’t even respond to my emails. avoid at all costs!