• Skip to main content
  • Skip to primary sidebar

Metacoin

Covering Bitcoin, the Blockchain, Altcoins, and Fintech

  • Start Here
  • Links
  • Disclosures
  • NFTs
  • Collezione

Sep 14 2017

UPDATED Control Finance News: Site Down, It’s a Scam

Control Finance Scam

UPDATED SEPTEMBER 14, 2017

We’re going to officially call it: Control Finance is a scam.

After the below from earlier this week (we’ve left the text as is), we tried to visit the website yesterday several times. It’s down – and likely out.

Score one for the scammers.

**Original Text from Tuesday.**

Control Finance is today’s culprit and, as was the case with a couple other of these online investment platforms, we’re going to chalk this up as Metacoin “taking one for the team.”

What Happened?

Yesterday, Control Finance shut down its Facebook and Twitter presence. This occurred after sending rather cryptic notes about suspending withdrawals, system problems, etc.

Today, Control Finance sent an email to all of its investors, and here’s the unedited text:

We would like to inform you of the urgent news. Our lawyers received information about the conditions for unlocking all trading accounts of the company. One of them is getting the necessary package of documents and license. This will allow us to restore access to our accounts and conduct our trading activities on the crypto-currency markets completely legally.

Blocking of accounts at the moment and suspension of payments is considered to be a force majeure situation. In this connection, we are forced to fulfill our obligations to clients.

This will be organized in the form of, payment of the customer’s deposit (taking into account already previously paid applications for payment of profit on deposits), i.е. according to the formula:

The deposit minus the amount of all applications, for the payment of profits, is equal to the balance for payment. All payments will be made in 45 days and extend until the end of October.

The site will temporarily stop working, but all customer databases with their payment and contact details will be stored on a separate server of the company, this will make all payments to our customers.

Since November, our company will resume its work in a fully legal regime, when all necessary documents will be received and the frozen accounts of the company will be unblocked.

As general director of the company, I ask you to keep your peace of mind and wait for the payment. The first payments were already made on September 11 and will continue, until the end of October. I want to keep my honest name and the name of our company. I will prove that you can trust me and the company.

Puzzling…On a Couple Levels

First up, the email came from an address that was, simply, “admin.” No name attached.

Second, this looks confusing as heck – if you’re us, and you put in $100, but then “earned” $40 and change in profits, does that mean you’re only getting $60 back, since “the deposit, minus the amount of all applications, for the payment of profits, is equal to the balance for payment”?

We assume that the guy with the “honest name” that we can trust is “Benjamin Reynolds,” the gentleman whose name is attached to the Skype account we’re asked to reach out to. (We did reach out to Benjamin Reynolds via Skype, and have not received a response.)

Caveat Emptor

With any and all of these Passive Income Platforms we’re experimenting with here, you have to have a certain amount of faith that things will work out. And you have to assume that you’re going to say goodbye to your money – these are not regulated financial instruments, and it’s the Wild Wild West here.

We’ll keep you posted on any further developments – and what, if anything, we receive back from our investment in Control Finance.

Share this:

  • Click to email a link to a friend (Opens in new window) Email
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on LinkedIn (Opens in new window) LinkedIn
  • Click to share on Reddit (Opens in new window) Reddit
  • Click to share on X (Opens in new window) X
  • Click to share on WhatsApp (Opens in new window) WhatsApp

Written by David Van de Walle · Categorized: Control Finance, Passive Income, Scam Alert

Reader Interactions

Comments

  1. pgxp.fr says

    06/05/2020 at 06:39

    An impressive share! I’ve just forwarded this onto a friend who has been doing a little research on this.
    And he in fact bought me lunch because I discovered it
    for him… lol. So allow me to reword this….
    Thank YOU for the meal!! But yeah, thanx for spending the time to talk about this subject here on your site.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Search This Site

Most Popular Posts

Up Arrows Are Nice

Up Only In 2024?

So far so good for the 2024 Growth Portfolio. Here we are, on the way to another wacky crypto year. And things are looking...up. If … [Read More...] about Up Only In 2024?

Liquidity Machine Go BRRRRRR

If you have a hard time keeping up with the latest in crypto, fintech, or any of the other things that keep the economy moving, join the … [Read More...] about Liquidity Machine Go BRRRRRR

Tweets by TeamMetacoin

Recent Posts

  • Q1 2025 Crypto Update
  • The Ten Best Crypto Investments for 2025
  • So You’ve Made A Little Money…
  • Up Only In 2024?
  • Who Needs an ETF When You Have a Growth Portfolio?

Recent Comments

  • pgxp.fr on UPDATED Control Finance News: Site Down, It’s a Scam
  • Victoria Tegg on Using Coinbase – A Primer for Bitcoin Newbies
  • Victoria Tegg on It’s Not Too Late To Invest in Bitcoin, Ethereum, or…
  • Victoria Tegg on Is it too late to invest in Bitcoin?
  • Victoria Tegg on ETF News: Ethereum, or Bitcoin, or Both?

Archives

  • March 2025
  • January 2025
  • November 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • September 2022
  • June 2022
  • May 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • September 2021
  • July 2021
  • March 2021
  • February 2021
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • September 2019
  • June 2019
  • May 2019
  • April 2019
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017

Categories

  • 5-coin challenge
  • AI
  • Airdrop
  • AMBIS
  • Ampleforth
  • Antshares
  • Avax
  • Bancor
  • Big Banks
  • Binance
  • Bitcoin
  • Bitconnect
  • Bithaul
  • Bitpetite
  • Bitshares
  • Blockchain Startups
  • Bloq
  • BRED
  • Bytecoin
  • CAPY
  • Cardano
  • Celer
  • chatgpt
  • Chile
  • Coin News
  • Coinbase
  • Coinreum
  • Collezione
  • Compound
  • Control Finance
  • Copihue
  • COSS
  • Creditbit
  • Crypto.com
  • CryptoCrash
  • Cryptotini
  • Curve
  • DAI
  • Dash
  • DeFi
  • DeFi Kingdoms
  • Dego
  • Developer
  • Dice
  • Digibyte
  • Dogecoin
  • DYOR
  • Economy
  • Einsteinium
  • Electroneum
  • Empowr
  • ENS
  • EOS
  • Eryllium
  • Ethereum
  • Exchange
  • Exchanges
  • Exscudo
  • Fetch
  • Golos
  • Growth Portfolio
  • Hedge Fund
  • Hexabot
  • HODL
  • ICO
  • Inflation
  • Interview
  • Investing
  • Kimchi
  • Lending
  • Library
  • Liquidity
  • Litecoin
  • MAGIC
  • Manifesto
  • Marketing & PR
  • MCO
  • MegaCryptoPolis
  • Meme Coins
  • Meta
  • Metamask
  • Microhash
  • Mining
  • NFT
  • Non-Fungible Tokens
  • Not Investment Advice
  • NXT
  • Origin
  • Pancake
  • Passive Income
  • PAX Gold
  • Pickle
  • PIVX
  • Portfolio
  • POW Token
  • Quadruple
  • Ripple
  • Risk Management
  • Rivetz
  • Scam Alert
  • Segwit
  • Shrimp
  • SHTF
  • Siacoin
  • Sketches2021
  • Steemit
  • Stellar
  • Stratis
  • Sushi
  • tacos
  • Tax Day
  • Tierion
  • Torcoin
  • Trading
  • Treasure
  • Trezor
  • Tulips
  • Uncategorized
  • Uniswap
  • USI Tech
  • VeChain
  • Vesper
  • Video
  • Whenhub
  • XRP
  • Yearn Finance

Meta

  • Register
  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Copyright © 2025 · Altitude Pro on Genesis Framework · WordPress · Log in