Bidfun Naxopresence UK Ltd scamming people and reaping huge reward for themselves , Internet

Bidfun lures people into their internet web by inticing them with great prices for electronics - ie: cameras, video games, Wii, etc.  They start out with a Free account - buy bids which comes right out of your paypal account or whatever you choose.  For example I purchased $100 thinking that was money to bid with.  Wrong....They have robots - automatic bidding - you set the limit and how many bids. I set up an automatic bid yesterday which I put a limit of $115 and 50 bids.  They were gone within 2 minutes. When I started to bid on a camera there were just 2 min 43 seconds left.  This is 24 hours later and the same camera has 49 minutes left on the clock.    What I learned was the 50 bids cost me $50 and if someone else has an automatic bid they just go after each other until they are gone.  Today the bids are up to $123.19.  Every bid takes the price up .01 and 20 seconds are added to the clock.  Each bid costs the bidder $1.00  therefore this particular camera earned this company $12,319.00 so far and it is not done yet.  I cannot see anyone truly "winning" except this company.  They also auction bidding points 400 points - this is beautiful.  Right now there is one that is going for $45.78.  That means that the company has already made $4,578 for selling their own points which they will make back plus.

You have 30 days to waste the bidding points you purchased and basically you can kiss the money good-buy.  This should be stopped.