MagicCoin Scam

(http://www.magiccoin.vip) is a new crypto scam where investors are contacted on Instagram and then lured to WhatsApp and Line to have further communication. This is a scam and not a real crypto but like many other scams is setup to look and feel very realistic. Investors are asked to move funds from ETH to Coinbase to Magic Coin. The scammers claim this is a decentralized crypto exchange platform. Upon initially opening an account, investors are led to believe they are making profits through the rise in value of the coin. When it’s time to withdraw your funds there are many excuses for why an investor cannot make withdraws (i.e. you must add more funds to make a withdraw = steal more of a victims money). This is a WARNING to all investors to Never do business with anyone or any broker claiming that MagicCoin is real