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Jussi-Pekka Erkkilä: Is It a Scammer Local Bitcoins? (Update 2024)

Jussi-Pekka Erkkila
This is a user-generated post. Gripeo does not take responsibility for the accuracy of any statements made in this post.
Jussi-Pekka Erkkila was involved in a major scam called LocalBitcoins. Find out what happened and what people are saying about it.

Jussi-Pekka Erkkilä has been informed about schemes allegedly connected to cryptocurrency trading. You may read more about the fraud narrative below, and I’ll also reveal some of his business’s secret facts, after which you can comment on what you think of him and his behavior.

Before we get started with this review
Such posts are made possible by the collective efforts of our contributors. If you can provide any kind of insight into Jussi-Pekka Erkkila or a similar company/individual, then share your information with us using our secured form.

You can help us put a stop to online scams before they grow too big and end up ruining thousands of lives. A scam is a scam, doesn’t matter if it’s big or small. Now that this is out of the way, let’s get started with the review.

Jussi-Pekka Erkkilä is a generalist and expert in software technology. He had built code for everything from contemporary web UIs to low-level OS components. Jussi-Pekka Erkkilä asserts that he has a thorough understanding of everything that is connected with digital technology (and the universe in general). Still, he is especially interested in software and network security.

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Jussi-Pekka Erkkilä presently has a full-time job, but he also occasionally works on open-source projects in his spare time and performs freelance programming work, consulting, or hacking through the company he co-founded, Fecode Ltd.

12/12/2023 Update
As of now, Jussi-Pekka Erkkilä has not responded, nor has he apologized for his misdeeds. He has ignored our efforts to highlight the problems faced by his victims. Furthermore, he has only focused on propagating his fake PR.

Jussi-Pekka Erkkilä: Linked with a Bitcoin Scam

On Twitter, several comments were made on the fraudulent business known as Localbitcoins of Jussi-Pekka Erkkilä. He was the CTO of the fictitious business Localbitcoins.com when he was exposed on github as a crypto criminal.

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Jussi-Pekka Erkkilä received feedback regarding his trade scamming in the comment above. This makes it crystal clear that Jussi-Pekka Erkkilä participates in the trading scheme run by the scam organization LocalBitcoins. It is confusing and deceptive for the traders who are a part of his fraudulent firm because he is simultaneously building a chain of traders to defraud them.

What is a Ponzi Scheme?

A Ponzi scheme is a criminal deception investing fraud pledging increased rates of interest with less chance of loss to investors. On the other hand, a Ponzi scam is a deceitful investing fraud that induces retrievals for earlier investors with money carried from later investors.

Since Jussi-Pekka Erkkilä served as the CTO at the fraudulent firm Localbitcoins, RetnuhMacs is inquiring about him in the previous comment. The total amount of bitcoins that users cannot access is how many? What will happen with those bitcoins (used in exit scams)?

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Source

The reviewer warns us not to use Jussi-Pekka Erkkilä for our LocalBitcoin trading because he is a crook and was exposed by the reviewer.

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Additional criticisms of Jussi-Pekka Erkkilä include those listed below: 

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As per one of the Trader’s comments, he said “If the answer is yes, please inform us here. Do they want to give back all the Bitcoins they got hold of and locked? If so, please don’t forget to say so. My memory is that I witnessed their poor response on Twitter”.

He has been following a fraud for several months who promises to make a large sum of money quickly using Localbitcoins accounts with “pro-trader” status.

He claims that if you make $20,000 or 5 BTC, you can divide the proceeds 50/50 with him. Let’s dismantle this con artist plantation.

The current list of fraud profiles that have been found is as follows:

In this instance, the trader has a top-ranked localbitcoins.com account and can earn over $20,000 in Bitcoin. Minimum 100+ transactions, 10–20 BTC in volume, more than one year. Pro-trader accounts can make a lot more money. The procedure is simple and quick. For warranty, 2fa can be enabled. You will be the one to take our profits out of the account. He was there at the time. But actually, he was cheated.

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What is Localbitcoins? How is Jussi-Pekka Erkkilä Connected to It?

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Helsinki, Finland-based LocalBitcoins was a peer-to-peer trading platform for bitcoins.

Through its service, local cash may be exchanged for bitcoins over the counter. On the platform, users submitted advertising with information about exchange rates and techniques for purchasing or selling bitcoins. As a result of their responses, other users paid for this advertising using the method they had indicated. 

The amount of trading volume on LocalBitcoins between October and December 2020 was 612 million US dollars, and the platform had over 1,000,000 active traders as of that month.

In June 2012, Jeremias Kangas launched LocalBitcoins. By the end of 2012, he had established a system of escrow for the market. The service began making money at the beginning of 2013, and as of 2020, there are typically 29,566 profitable trades every day.

The local specialist journal Kauppalehti compiled a list of Finland’s top-performing businesses in terms of financial performance in 2018, with LocalBitcoins at the top.

People who visited the website in 2014, 2016, and 2018 were detained for money laundering and other offenses.

From consumers’ LocalBitcoins accounts in January 2019, thieves stole bitcoin worth $28,200. With the help of its users, LocalBitcoins was able to quickly detect and resolve the issue. The same day, LocalBitcoins shared that using a LocalBitcoins account was secure and stressed the significance of two-factor authentication.

LocalBitcoins.com was authorized by the Finnish Financial Supervisory Authority to operate as a virtual currency provider in November 2019.

LocalBitcoins made a statement on February 9th, 2023, stating that it would shut down later that month.

What is Cryptocurrency?

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Over the past several years, the value of cryptocurrencies has exploded. They are incredibly popular right now as fans rush to purchase them before their value increases because they believe that cryptocurrencies like Bitcoin will be the currency of the future.

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Even if they are still well known, how many people fully understand what cryptocurrency is? How many individuals are aware of their origins and how they operate?

A cryptocurrency is a form of digital or virtual money that is protected by cryptography, making it nearly hard to forge or double-spend.

They are systems that enable safe online transactions that are valued in terms of virtual “tokens,” which are expressed by records in the ledger that are stored within the system.

Based on blockchain technology, several cryptocurrencies operate as decentralized networks. Blockchain is a distributed platform that tracks and manages transactions across a large number of machines. This technology’s security plays a part in its appeal.

According to CoinMarketCap, the value of all cryptocurrencies on April 13, 2021, was over $2.2 trillion, while the value of all bitcoins, the most well-known digital currency, was estimated to be above $1.2 trillion.

Ethereum, Litecoin, Cardano, and Binance Coin are all surging upward in addition to Bitcoin.

Conclusion

Finally, all I can do is advise you to exercise caution when dealing with Jussi-Pekka Erkkilä, a corporation that engages in financial fraud and can cause you to lose money when trading. To read his trade reviews before investing, go to the aforementioned link. The Localbitcoins of Jussi-Pekka Erkkilä can then be ranked as follows:

Jussi-Pekka Erkkilä: Is It a Scammer Local Bitcoins? (Update 2024)
Jussi-Pekka Erkkilä: Is It a Scammer Local Bitcoins? (Update 2024)

7 Comments
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  1. CEO Sara Leppanen and http://LocalBitcoins.com are stealing innocent peoples Bitcoins as they go out of business. If you are from the United States and this has happened to you I urge you to go to http://sec.gov/tcr and report this ASAP LBC and Sara have stolen millions.

  2. Jussi-Pekka was presenting bogus plans to clients and attempting to defraud traders who believed their fake scheme, indicating that he wanted to make money with the support of those who put their trust in his LocalBitcoins.

  3. It is the worst trading platform since many people have lost their hard-earned money while believing in these types of Ponzi schemes. Even if you realize it’s a scam, these continue to cover up the large public and you can’t do anything because you’ve already fallen into their trap.

  4. Jussi-Pekka tries to engage with more traders and just to dupe a large number of people now it really scared me a lot to invest in Bitcoin because these types of procedures are quite risky and one should have great knowledge about the field then, anyone can invest in it.

  5. There are many scams using Bitcoin, and traders have suffered significant losses as a result of these fraudulent operations. It is therefore better to avoid fraudsters who engage in these activities only to deceive people. Being a generalist who participates in these types of scams is never acceptable.

  6. These schemes are a nightmare for traders who put their trust in such bogus schemes because these are schemes to con traders and make the chain of novices who are unfamiliar with the crypto market, and people like Jussi have used their popularity to gain people’s trust.

  7. A friend of mine had gone through the same situation, where he put his hard-earned money, without any proper research but at last, he had to lose his money. Now if you have no experience or are a newbie, then first try to learn about bitcoins in depth then go further process.

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