Berry Trading Crypto Platform Update: The Berry Trading Ponzi scheme has collapsed, leaving investors holding the bag after the scheme’s operators ran multiple exit scams.
The Berry Crypto Trading Ponzi scheme, operating under various names such as Blueberry, Berry Trading App, Fertile Soil Global (FS Global), Berry FS Global, Berry Exchange, and recently, Berry Max, has collapsed.
This post delves into the details of the collapse, shedding light on the strategies employed by Berry to deceive its investors.
What is Berry Trading Scam?
Berry Trading was a cryptocurrency investment platform that promised high returns to investors. However, the scheme was actually a Ponzi scheme, which means that it paid off early investors with money from new investors.
In May 2023, Berry Trading disabled withdrawals, claiming that it was undergoing maintenance. However, it soon became clear that the scheme had collapsed.
On May 2nd, Berry collapsed by disabling withdrawals, leaving investors in a state of panic. In a desperate attempt to salvage the situation, the scheme resorted to launching exit scams.
As the scheme unraveled, Berry resorted to misleading tactics, including an IPO exit scam and the imposition of deceptive recovery fees.
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Berry Trading Collapse Update
Around May 2nd, Berry collapsed by disabling withdrawals, and a 100% cash back on new investments was introduced, further deceiving investors into believing they would receive substantial returns.
On May 5th, Berry launched the BERRY Token (BRY), which was touted as the platform token serving various functions within the Berry ecosystem. False claims were made that Berry Exchange needed to meet strict financial and capital indicators for a potential IPO listing on the Nasdaq Global Market.
Berry’s rebranding as Berry Max on May 12th was nothing more than an in-house recovery scam. Under the pretext of ensuring accurate user volume data, Berry demanded 50 USD from its investors, threatening account termination for non-compliance.
After that a “loyalty program” was introduced, aiming to extract an additional 500 USD from gullible investors. These manipulative tactics were designed to squeeze more funds from unsuspecting victims.
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How to Withdraw Funds From Berry Trading?
It seems that it is not possible to withdraw funds from Berry Trading. The scheme has collapsed and withdrawals have been disabled. The message showing on Berry’s Website “Withdrawals Opening Soon!” is a scam.
They announced that they were converting all of the scheme’s assets into a new cryptocurrency called BRY. However, BRY is worthless and investors will never be able to redeem it for real money.
The Berry Trading Ponzi scheme is a cautionary tale for investors. Never invest in any scheme that promises high returns with little or no risk. If something sounds too good to be true, it probably is.
If you think you may have been a victim of a Ponzi scheme, there are steps you can take. You can file a complaint with the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). You can also contact your state’s securities regulator.
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