You can decide if Berry Max is a scam by reading exclusive reviews that are not available anywhere else. Learn about the latest developments which may provide clues to a scam.
The majority of investors in Berry.im tokens were from South Africa (Botswana), UK, Rwanda and USA. While its parent company FS Global is trying to keep its customers happy by posting updates daily on Telegram. Berry.im has been publicly notified by the CEO of Non-Bank Financial Institutions Regulatory Authority (Botswana) that it does not hold a licence to trade virtual assets or provide services.
Did you know withdrawals from Berry.im have been stopped? Let’s examine Is BerryMax a Scam.
The Berry Max Scam:
NBFIRA published a public notice on 12th/December/2022 indicating that Berry.im is not a licensed virtual asset service provider. Berry.im, however, continued to attract thousands of investors.
The Berry.im platform is registered for a year, starting on the 13th/June/2022. It will expire 13th/June/2023. Berry.im has stopped withdrawing funds one month prior to the expiration of its registration. This is a warning sign! On 2nd/May/2023, investors began to notice that they were unable to withdraw their money.
Berry.im allowed withdrawals of up to $1,000 within 24 hours. Berry Max Trading Platform, in response to investor concerns, published a notice that Berry.im was being upgraded, and because of technical issues, withdrawals and deposits were temporarily suspended.
Berry.im was given some breathing room by publishing this notice. The situation got out-of-control as the issue was not resolved after 20 days. This time, the investors’ confidence had been hurt.
Preventing havoc among investors:
Finaly, on May 12th, 2023, Berry.im posted a message that they are getting rebranded into BERRYMAX. Their tokens will now be listed as BRY, with the option to purchase BERRYMAX INSURANCE tokens (BMI), which gives clues as to whether Berry Max is a scam. At least 23 Zoom meetings were announced on Telegram as upgrades continued.
Berry.im informed customers that they are taking strict measures against fraud. It announced that it would deactivate several non-authentic accounts by the 23rd/May/2023. These accounts can be fake trading accounts, accounts owned by a single person, accounts with no activity for a long time etc.
Berry.im gave investors the opportunity to reactivate accounts that had been inactive for a long time.
Ponzi schemes:
Berry.im has announced promotions and bonuses for BRY tokens staked in conjunction with the announcements of deactivating fraudulent accounts. The company offered a 10-fold valuation increase, a 30% Member Appreciation bonus, as well as quick buy options and withdrawals, after Berry.im was converted into BERRY MAX on May 23rd, 2023.
Berry.im also announced that they are focused on stabilizing BRY tokens, as investors can sell BRY and withdraw their money due recent developments and rebranding. Platform offered various promotions to stake BRY in the next 90 days!
The promotion stated that investors will receive a 100 USDT commission after unlocking 5 BRY and the option to freely buy and sell BRY. BRY platform targets were a 20% increase of BRY tokens per month, a 20% increase of 24-hour trading volume and a 50% increase for two consecutive months. The promotion is for a period of 3 months (90-day stake period).
Conclusion:
Berry.im is not active at the moment. In some regions, it displays 404 pages not found. Telegram is the only way to receive updates. You might have guessed that Berry.im was shutting down, but trying to collect as many investments as they can by offering promotions and disabling withdrawals! Hence, BERRY MAX seems illigitimate.
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