On November 7th, according to Portal Do Bitcoin, BeeFund platform is suspected of freezing customer balances and shutting down its website. Initially, the company offered a cryptocurrency investment plan that promised a maximum daily return of 12.75%. Since early October, BeeFund has received numerous customer complaints about frozen withdrawals on the Reclame Aqui website. In response, BeeFund announced in a Telegram group that all customer balances would be converted to a new cryptocurrency called BEEB 2.0.

To access their balances, customers must first deposit $10 worth of stablecoin before November 6th. Failure to meet this requirement will result in customers having to pay 10% of their frozen balance to redeem their funds starting on November 7th. For example, a customer who invested $1000 will need to pay $100 to redeem their funds. This move has raised questions about the transparency and legality of the platform, and it is suspected of being a scam.