In a shocking turn of events, around 100 investors have lodged an official complaint with public prosecutors following the sudden disappearance of AMG GPT, a Mexican crypto trading bot scheme. The company, promising “daily payouts” and allegedly operating its own “crypto credit card”, has closed its physical offices and blocked all withdrawals, leaving investors in the lurch.
Based in Tehuacán and Puebla, AMG GPT is reported by Milenio to have enticed over 3,000 people into purchasing trading bots. These bots, priced from 400 pesos, were marketed as a means of ensuring guaranteed returns “for a set time period”.
However, the initially profitable venture quickly turned sour for investors. Regular payouts became sporadic and attempts to access funds were met with “constant delays”. Investors were informed that they would need to “pay verification fees” to withdraw their money. In-person visits to the company revealed all four offices to be shuttered, leading to further alarm and confusion.
Mexican journalist Carolina Espinosa River reported, “The offices in Tehuacán have completely disappeared, leaving the premises empty. Although some supposed ‘leaders’ have been identified, they have also claimed to be victims of fraud. They state that they do not know who is responsible for the scheme.”
Adding to the company’s dubious reputation were promotional events and giveaways, which included raffles for iPhones and Teslas. Yet, much like the investors’ funds, these prizes never materialized.
Before its disappearance, AMG issued a statement attributing the delays to a “shopping festival” event, which would supposedly offer investors “generous rewards”. Additionally, concerned users were directed to apply for a special credit card called “Crypto-VISA.”
However, this solution only compounded the problem. Those who purchased these cards reported being asked for codes, which subsequently emptied their accounts.
The collapse of AMG is believed to have been triggered by an influx of new investors, drawn in by recommendations from existing users who had seemingly profited from the scheme.
One victim shared their experience with River: “It is urgent that this information be known, that the authorities take action on the matter, because they scammed a lot of people. They got a lot of people into a lot of trouble, including me and my family. Right now we are in debt, we don’t have money to pay, we owe a lot of money to people, friends, family, we are all very upset. They are not giving us our money back, they are turning a blind eye and are running away with all the money.”
This unfolding saga serves as a grim reminder of the inherent risks associated with unregulated crypto trading schemes. As investigations continue, the victims of this alleged scam are left grappling with the financial and emotional fallout.
