Scammers across South Asia are creating fake investment websites that double as gambling platforms. Users are promised high returns through “binary trading” or “prediction markets” but are unknowingly betting on rigged outcomes.
In Bangladesh, several such sites were recently shut down for violating financial laws. Victims were promised 2x or 5x returns on their deposits but ended up losing all funds.
Financial watchdogs warn against any site that promises guaranteed returns or fast profits, especially those without licenses or regulatory disclosures.
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