Do You Want to Know If Babel Is Legitimate or a Scam?
When we write these reviews, we are dealing with brokers and financial services who are either making trouble or who are in trouble. Babel seems to be in the latter category. While this crypto lender may not be intentionally fraudulent or dealing in illegal activity, it is experiencing liquidity issues given the recent cryptocurrency selloff and has locked client accounts.
There may not have been an intention of wrongdoing, but we do find it useful to note that stories like Babel’s and Celsius’ highlight the dangers of dealing with unregulated assets, such as cryptocurrencies. The recent selloff in these assets is a signal that more needs to be done to regulate them and protect consumers.
However, Babel seems to be transparent with the public and the media and is taking actions to improve liquidity and release funds to its clients. However, there is no telling how long this will take, and it still is important to know what steps to take to ensure you can track your funds.
There Are Some Problems with Babel
Babel was a crypto lender that used customer’s fiat currency to invest in cryptocurrency at large returns. People have apparently made actual money with Babel and it doesn’t seem to be an outright fraud, although it is dealing with the unregulated blockchain and risky assets, cryptocurrencies. Given the volatility of these assets, the recent drop in bitcoin price created a crisis for Babel, which has had to stop transactions until it can be sure it can fund client withdrawals.
If You Have Lost Money to Babel, Talk to Us
We create these reviews to warn consumers about brokers and schemes that may be fraudulent. However, Babel doesn’t seem to be a fraud, but nonetheless, since it has frozen client accounts, you will want to make sure you can get hold of your funds. Contact the ChargeBax right away. We will consult with you, work to track down your funds and create investigative reports that will help you with your case.