We received the following complaint regarding Blockprimes.com:

Beware of a scam involving an individual named Henry Anthony, who befriended me in February 2024. He convinced me to transfer $300.00 for capital growth assistance. However, he defrauded and blocked me after receiving the money.

Details:

• Amount Sent: $300.00
• Cryptocurrency: Bitcoin
• Receiving Address: 1CRN9gsDbNVSk2WnsbeTXWvBYvhzz5efzT
• Scam URL: Blockprimes.com

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Domain Analysis

In June 2024, a scam was perpetrated through Blockprimes.com, targeting individuals interested in forex trading. This site, registered with Hosting Concepts B.V. d/b/a Registrar.eu on June 24, 2024, was designed to appear as a legitimate platform for financial growth and investment opportunities. The domain is protected by a clientTransferProhibited status, preventing unauthorized domain transfers, and is set to expire on June 24, 2025. The registration details, including the registrant’s name and contact information, have been redacted for privacy, making it difficult to identify the individuals behind the scam.

Blockprimes.com is hosted by InMotion Hosting, Inc., with servers located in Amsterdam, The Netherlands. The site’s name servers are ns3.inmotionhosting.com and ns4.inmotionhosting.com, indicating that InMotion Hosting’s infrastructure manages all web traffic.

Blockprimes.com Review

Block Primes, advertised as an online Forex ECN/STP broker, claims to provide a wide range of trading services, including stocks, forex, options, and cryptocurrencies. The website is designed to appeal to novice and experienced traders, promoting a seamless and supportive trading experience.

Block Primes offers various trading platforms, such as MT4 for Windows, iOS, Android, and a web trader option. The company emphasizes its global reach, boasting millions of users from over 140 countries. It also highlights its regulatory status, claiming to be regulated by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySec).

The website provides several contact details: the US office is located at 9030 Metropolitan Ave, Queens, NY 11374, and the company is also registered at 8 Copthall, Roseau Valley 00152, The Commonwealth of Dominica.

Support is available via 24/7 live chat and email at support@blockprimes.com.

The company prides itself on swift and reliable services, asserting that its API and trading equipment are fast and easy to use across multiple platforms. It also emphasizes privacy, stating that it will never share users’ private data without permission.

Block Primes’ marketing material includes numerous user testimonials that laud the platform for its user-friendliness, variety of investment options, and reliable support. The site also warns of the high risks associated with CFD and Spot Forex trading, emphasizing that users must be prepared to sustain significant losses.

Red Flags

Despite these seemingly positive attributes, several red flags indicate that Block Primes could be a scam.

Firstly, the website was only recently registered on June 24, 2024, which is very recent for a platform claiming millions of users. The use of privacy protection services to hide the registrant’s information is another concerning factor, as it obscures the true owners’ identities. Additionally, while the company claims to be regulated by the FCA and CySec, no direct verification or links are provided to support these claims, making it difficult to confirm the legitimacy of their regulatory status.

The website also features a non-functional Risk Disclosure link redirecting to a 404 error page. This suggests a lack of transparency and negligence in providing critical risk information to potential investors. The company’s addresses are quite generic, and the association with multiple jurisdictions (US and Dominica) without clear operational headquarters raises further suspicion.

Moreover, the promise of high returns and the depiction of trading as a secure and enjoyable experience contradict the high-risk warnings associated with forex and CFD trading, a common tactic used by fraudulent schemes to lure unsuspecting investors. The website’s professional appearance and comprehensive list of services and support options can easily deceive potential victims into believing in its legitimacy.

Bitcoin Address Analysis: 1CRN9gsDbNVSk2WnsbeTXWvBYvhzz5efzT

The Bitcoin address 1CRN9gsDbNVSk2WnsbeTXWvBYvhzz5efzT, identified as a Base58 (P2PKH) address, has a transactional history on the Bitcoin blockchain. This address has conducted a total of 32 transactions, receiving and sending an equivalent amount of 0.08480530 BTC, which, at the current value, equates to $4,933.80 for both received and sent amounts. Consequently, the current balance of this address stands at 0.00000000 BTC, or $0.00, indicating that all received funds have been transferred out.

Detailed examination reveals that the address has experienced significant transactional activity, reflecting a total volume of 0.1696106 BTC, amounting to $9,867.60. Noteworthy transactions include several sizeable transfers, such as one on June 20, 2024, where 0.00734499 BTC ($427.32) was sent to another address, incurring a transaction fee of 7.3K Sats ($4.24). Another significant transaction occurred on June 18, 2024, involving the transfer of 0.00182393 BTC ($106.11) with a fee of 7.5K Sats ($4.36).

On March 10, 2024, there were multiple transactions. One transferred 0.01446022 BTC ($841.27) from this address to another, with a transaction fee of 13.1K Sats ($7.60). This address has participated in smaller and larger transactions, often with high transaction fees relative to the transferred amounts.

This activity pattern, especially the substantial transaction fees and frequent transfers, could indicate involvement in high-frequency trading or potentially illicit activities, considering the address’s association with the scam outlined in previous information. The usage of numerous inputs and outputs in several transactions further complicates the traceability of the funds.

Given the total amount transacted through this address and the context of its usage in fraudulent activities, it is essential to remain vigilant and avoid any dealings with the address 1CRN9gsDbNVSk2WnsbeTXWvBYvhzz5efzT. The comprehensive transactional record suggests that this address is part of a broader network of addresses potentially involved in scams or other high-risk financial activities.

The Bottom Line Regarding Blockprimes.com

In summary, while Block Primes presents itself as a professional and regulated trading platform, several indicators indicate it is a scam.