Former bitcoin broker director who hurt customers now promotes IQ Option

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The former operational director of Criptohub, Wellington Vicente, who recruited clients for the ICO (Initial Coin Offering) of a cryptocurrency that never existed and left a loss of more than R $ 20 million, returned to the market with promises of high profitability with their robots on the IQ Option, which will be launched on May 5th.

Vicente, who calls himself “King of the Trader”, has aired several videos on YouTube claiming that he has managed to profit a lot on IQ Option through forex and binary options trading. In one of these videos, he mentions that he raised R $ 45 thousand in just eight days.

Vicente’s ultimate goal is not to attract customers for the company, which is prohibited by the Brazilian Securities and Exchange Commission (CVM) from operating in the market, but to promote the sale of his product.

Vicente says that for R $ 40 a person acquires a robot, which copies the operations made by that trader – and on the promise that there would be no risk of attracting customers for himself. The fact, however, is that indirectly the “King of Trader” ends up attracting people to IQ Option as well.

The trader showed in the video a screen from the Uprofiter website for people to make their pre-registrations to purchase the supposed “Bot” in the future. While showing the website through which the person will have access to a WhatsApp “VIP group”, he promised that each of these people will have the same result as him.

From Criptohub to IQ Option

According to the former director of operations at Criptohub, the idea is not to spread to many people, as there would only be 200 vacancies. However, this sounds contradictory, since the chosen medium of dissemination was precisely YouTube. This video alone had until Tuesday afternoon (28) 6,460 views.

Speaking of the launch of his Bot, the “King of Trader” said that he will “literally shake the IQ Option”. Although Vicente announced his revolutionary product as the only one on the market, other traders were already announcing other elements of the genre, called “Copy Traders”.

Another contradiction, however, is that even though he mentioned that the Bot will still be released, Vicente said that he already uses the software with some customers.

In another video, Wellington Vicente even appealed for the “Bot” discount. He stated that the person would be purchasing for R $ 40 a month a product that would cost R $ 407 monthly, as if it were a unique opportunity. This, however, was offered through Whats App groups.

IQ Option prohibited

The company IQ Option for which Wellington Vicente operates, is prohibited by the CVM from trading with Forex, Contracts For Difference (CFD) and binary options in Brazil.

IQ Option said the municipality only banned advertising, but the reality was different. CVM made it clear in its decision that the derivatives traded were those dealt with in item VIII, of art. 2 of Law 6,385 / 76, that is, types of security.

To trade these derivatives, the company should have a waiver or registration with the CVM. For that, it was necessary to request authorization from the municipality. what was not done and ended in the prohibition of its operation in the market.

Vicente, however, has maintained that he will “put it on the market” and announcing a product to operate, precisely, in a company that is in the sights of the regulator.

Selling illusions

This, however, is not for lack of experience. This is not the first time that Vicente operates in the market. Before becoming the “King of the Trader”, he was chief operating officer at Criptohub, a company that belonged to Ramon Vailatti and raised millions in pre-selling tokens that were never released.

One of the customers who was injured by Criptohub contacted the Bitcoin Portal and claimed to have lost R $ 80,000 in this endeavor.

According to this person, who had his identity preserved, the negotiations were made with Wellington Vicente and Ramon Vailatti. the Client said that he initially talked to Vailatti, who recommended that he speak to Vicente.

“When we tried to buy, Wellington always called,” he said.

Most of the conversations were made by Telegram, according to this client, but he said he kept proof of each transfer made to the business.

An ICO of nothing

Criptohub with its team, including the “King of Trader”, managed to sell almost 30 million tokens for the project of an Initial Coins Offering (ICO) in August 2018.

Each token was offered, therefore, at that time for 0.0005 ETH. Ethereum’s quotation ranged from R $ 1,500 to R $ 2,845. These values ​​were analyzed between the periods of April 10 (date that started the sale of tokens) and August 6 (when the almost 30 million tokens sold were recorded).

On an arithmetic average, then, it is possible that they collected between R $ 22.5 million and R $ 32 million, depending on the period that most sales occurred.

After the launch of the coin, as is common in these cases, the value collapsed and never recovered, despite the constant promises of the creators.

In the closing statement, however, the company did not comment on the CHBR tokens acquired by customers during the ICO. Criptohub Coin (CHBR), an ERC20, however, has never been listed on any relevant exchange. The current value of the token is zero, according to Ether Scan.

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