10+ Cryptocurrency Fraud and Scams You Need to Pay Attention to
The most (un)common cryptocurrency fraud and scams you need to look out for
Cryptocurrency is not exactly a newfangled contraction; the idea of a decentralized digital asset was coined in the late ‘80s by David Chaum, the American cryptographer whose works ignited the computer science revolution that gave birth to Bitcoin, Blockchain, Altcoin, and a whole new way of looking at monetary transactions.
But cryptocurrency fraud is one of the looming dangers of this new digital opportunity. Here’s how you can make sure you don’t fall for it.
The Birth of Bitcoin
Ecash, the first form of cryptocurrency and Chaum’s brainchild, was launched in 1983 as an alternative to paper money. Digicash, the company regulating this novel ‘non-corporeal’ monetary asset, managed to raise over $10 million in a span of a decade.
The concept was sound and the idea of getting rid of traditional money appealed to the general public. And in 2009, a group called Satoshi Nakamoto launched Bitcoin, which was unanimously considered the first (and true) decentralized digital currency.
With the advent of a new era of non-bank-dependent digital currency, numerous Bitcoin alternatives were seeded on the market. Altcoins they’re called and, at the moment, there are over 4,000 of them in use.
Living the dream, right? Well, not my intention of casting a dark cloud over this brave new world, but wherever money’s involved, there’s bound to be someone trying to bamboozle a goose.
Cryptocurrency fraud, the subject du jour, has gained quite a foothold, with hundreds of thousands of people being swindled every day. Not exactly breaking news, but the ploys have become so intricate, that it’s increasingly difficult to tell apart the fake from the legit one.
Hence this little handy hand-guide will tell you all about the wondrous world of crypto scams and how to avoid them. Let’s start with a rundown of the most (un)common scams.
Cryptocurrency scams
As a rule of thumb, you should never accept crypto-trading with companies or startups that are not blockchain-powered. In layman’s terms, that means that all transaction data can be tracked and reviewed.
Furthermore, before committing to a company or another, you may want to review their credentials – look for status quo indicators such as adherence to initial coin offerings rules and digital currency liquidity.
That’s about it at a glance. Up next, we’re going to dive into the most common and uncommon cryptocurrency scams. Enjoy (or not).
Fake ICOs (initial coin offerings)
Here’s how ICOs are defined:
“An ICO is a type of funding using cryptocurrencies. Mostly the process is done by crowdfunding but private ICOs are becoming more common. An ICO is a quantity of cryptocurrency sold in the form of tokens or coins to investors or speculators, in exchange for legal tender or other cryptocurrencies such as Bitcoin or Ethereum. The tokens sold are promoted as future functional units of currency if or when the ICO’s funding goal is met and the project launches. In some cases, like Ethereum the tokes are required to use the system for its purposes.”
Impeccable textbook definition, don’t you think? But what does it really mean? Let’s water it down a little. Imagine the following scenario: assume, for a moment, that you’re running a tech company that has come up with an entirely new cryptocurrency management system or a crypto coin. All fine and dandy, but how on Earth are you going to raise enough money to streamline your idea?
Certainly, you can try to go through banks or call up some capitalist investors, but that would mean dividing or even giving up the ownership of your small business. Fortunately, there’s a better way to go about this – the ICO.
First, you will need to get the attention of some people willing to invest in your idea. Not so fast; to pull this off, you will also need a way to show your future partners that your idea is sound. You can do that by creating a crackerjack whitepaper.
It’s essentially the documentation that proves that your crypto idea works and is, of course, worth the money. You should also consider setting up a website to increase your company’s credibility.
The second step you should take would be to convince the interested partners to give you some of their money in exchange for a small amount of your ‘homemade’ currency.
The point is to up the currency’s rate of circulation and usage of thereof. That, in turn, will increase the value of your newly-created digital asset which translates into a steady cash flow for your company. In this case, the incentive would be a higher return on investment.
Sorry for the rather long detour, but it’s important for you to know the mechanics behind ICOs in order to understand how scams work and how swindlers act. Enter fake or fraudulent ICOs which are specifically engineered to bleed cash from naïve investors.
How do they do that, you ask? By promising astronomical gains in the span of a couple of weeks. For instance, by spinning the fake crypto coin’s white paper (that would the project’s documentation I was telling you about), the fraudster will attempt to lure in investors by promising them astronomical gains (100x or even 1,000x) in a short amount of time – try a couple of weeks or event days.
Fake ICOs count as some of the most common types of cryptocurrency scams. Unfortunately, over the past couple of years, the scales kind of tipped in the ‘favor’ of the fake one.
In fact, according to a Bloomberg study, over 80 percent of ICOs are fraudulent, with less than 8 percent reaching out. Yes, they can be avoided, but we will talk more about that in the third part of this article.
‘Overnight’ exchanges
Another cryptocurrency scam is the so-called shady or overnight exchange. How does that work, you ask? Let’s assume for a moment that you want to exchange your digital token for a better-performing crypto coin.
One would naturally assume that this is what every crypto coin possessor should aim for if he (or she) is looking to increase gains. The best way to go about this would be to exchange your coin with another that outperforms it.
Still, before you go full wolf of Wall Street on this one, consider choosing a legit and regulated cryptocurrency broker or exchange system. Why? Because you would risk losing your entire portfolio by tying them in a venture that simply sounds too good to be true.
Shady exchanges tend to follow a similar pattern – boy has crypto-money, boy finds better price, boy makes deposit coaxed by shady deal-man, boy asks about how the deal’s performing.
Teary-eyed deal-man says that he couldn’t upscale the business, the price dropped, and that the coins are worth zilch. The dénouement – the shady dealer gets your coins and you end up with a dent in your wallet.
Fraudulent wallets
There’s nothing wrong in picking up an app to manage your cryptocurrency portfolio – plenty to choose from and, speaking on behalf of the vast majority, they’re great-look and easy to use.
Yes, I know that you know that there’s a big “but” around the bend, but it is an article on cryptocurrency fraud. Lately, a great deal of fraudulent wallets has been discovered on Google’s Play Store.
Though Google is making efforts to root these posers, their efforts are hindered by malicious developers which seed them by the hundreds. Anyways, the latest crypto-wallet apps to be cloned was Trezor. So, what happens when you use one of these apps to manage your portfolio? Money goes in and, poof, it melts into nothingness. User beware!
Pyramid schemes (Ponzi)
Handsome son of a gun, isn’t he? Meet Charles Ponzi or the reason why the dictionary people added a new entry under the word “pyramid”. Yup, he’s the mastermind behind the eponymous lurk. Never heard of it? That’s all right; it just means you haven’t had any dealings with hedge funds and private equity.
Pulling this off is does not require a Ph.D. in rocket science; just the right amount of guile. The idea is to coax as many people as possible to invest in, well, something.
Ponzi managed to pull this off with postage stamps, so why wouldn’t it work with cryptocurrency? The pyramid scheme in a nutshell: the scammer comes up with a ‘foolproof’ investment scheme. Enters the goose, just ready to be plucked. The swindler will persuade the goose to tie his money into this outstanding venture, promising higher gains.
The goose will then invest a sum amount in the idea. But that’s not all – the initial investors now have the job to bring in new investors if they want to get a share of that dough or, in this case, digital coins.
Once the new investors step in, the older ones begin getting payouts. And it goes merely on until the new investors well run dry. In the end, the only one who stands to win is the scammer.
Classic phishing
When all else fails, you will always have the ‘classics’ to fall back to. A while back, I wrote an article about just how effective PayPal phishing scams are, even though everyone knows about them and how they work (ironic, isn’t it?).
Pretty easy to imagine how this type of scam works – using psychological manipulation, the scammer will trick you into revealing your username, password, or billing information. The most commonly used tactics are Punycode and the so-called fake Airdrops. So, how does this work?
Simply put, the scammer sends the user a link that sends him to a fake page. Naturally, this page looks exactly like a legit crypto-trading service. On top of that, the pot is sweetened by a free Airdrop. In most cases, the users are asked to send a certain number of Bitcoins or Ether to a spiked MyEtherWallet.
Impersonation
Considered to be the most devastating weapon in a scammer’s arsenal, impersonation scams are very hard to detect and, therefore, to counter. This is what in cybersecurity lingo is called a multi-vector attack.
First, the impersonator must gather as much information as he can about the victim. Up next, there’s the company on behalf of which he will attempt to contact the victim. Of course, this also involves calling up some vital info.
For instance, in some cases, the scammers posed as the project owner or even the company’s CEO in order to lure the victim with a once-in-a-lifetime offer.
Here’s where the multi-vector attack comes into play – using a combination of social engineering, phishing, and cold-calling, the scammer will coax the victim into investing his crypto coins into his idea.
As I said, impersonation scams are very hard to detect simply because the scammers know how to do their homework. The only possible defense once can think of might be having some inside info on the company.
Unregulated brokers.
Careful who you trust with your cryptocurrency portfolio. There are dozens of unregulated online brokers and exchanges and, like in most scamming schemes, they lure customers with low prices, competitive trading products, and quick returns.
After you make the deposit, it will become increasingly hard to withdraw your money. For instance, they would ask for high commissions or conjure up bogus reasons why you can’t withdraw your funds or gain. Worst case scenario – they stop returning your calls and run away with your money.
Automated trading systems
Given the volatility of crypto coins like Bitcoin, promoters would look by just about any opportunity to make a profit. The general tendency would be to speculate the price differences between various exchanges.
Why is this considered a scam? In most cases, these cryptocurrency exchanges have ludicrously long withdrawal process, not to mention the fact that they tend to charge a lot in order to swap Bitcoins or Ether with fiat currencies (government-issued currency that can’t be backed up by a physical commodity with value, like silver or gold).
Basically, it’s the textbook definition of money). Long story short – crypto coin arbitrage takes a lot, doesn’t guarantee gains, and will more than likely lead to financial loss. I should also add that these types of trades take a long time to settle, which means that anything can happen in the interim. Caveat emptor!
Pump & Dump online groups
P&D scams are not exactly new. In fact, economic analysts argued that this type of fraud goes all the way back to the early 18th century.
Though most of these schemes were conducted by word of mouth, emergent techs such as the Internet, social media, and email servicing made it possible for scammers to attract even more investors.
So, what’s up with this P&D scams? In laymen’s terms, it’s a plot aimed at inflating the stock price of certain commodities in a bid to buy low and sell high. What happens is when the scammers dump their ill-gotten shares, the prices will plummet, leading to investors losing their money fast. The same thing happens with cryptocurrency.
Bear in mind that it takes quite a lot of people in order to pull this off. The scammers usually congregate over social media platforms such as Facebook Messenger, Telegram, Slack, and IRC. On average, such a group would total some 100,000 members.
Each is a vital cog in the effort to manipulate the price of altcoins with low market caps. These groups use various tools to monitor volumes, a vital first step identifying crypto coins with the highest ‘scheming’ potential. After that, it’s all a matter of buying low while watching the prices go down.
Social media engineering
Social media platforms are a great way to get to know investors and people who are willing to trade cryptocurrency. However, at the same time, these platforms are breeding ground for fake cryptocurrency traders, scammers impersonating legit traders, and bots.
Remember the golden rule – if it sounds too good to be true then it’s most definitely a scam. It would also be in your best interest to stick to legit communication channels and avoid private messages received on Facebook, Twitter, or Instagram.
Fake emails
Fake emails are, by far, the most ‘popular’ way of luring potential investors. What’s even more unnerving is the fact that they really look like legit emails piped through by legit company – logos, headers, names, addresses, social media handles.
Don’t fall for it; if you ever receive such an email, check every bit of information before acting. For instance, if the email contains phone numbers or physical addresses, you should consider calling the trader.
Try to gauge the offer’s genuineness: are the numbers doable? How about initial coin offerings? Does the trader operate over a regulated cryptocurrency exchange? Has he informed you about liabilities? And, most importantly, see how confident he is about the plan itself. The scammer will always try to boast the plan.
Cryptocurrency fraud – Case Studies
Now that you got the hang of what to look out for, here are some cryptocurrency fraud cases. Enjoy, but watch your back.
The BITPoint Hacking
On the 12th of July, BITPoint, a Japanese cryptocurrency exchange, reported that over $28 million were stolen in a massive hack attack. It was later revealed that the losses amounted to $19.3 million, but that didn’t make things any better.
The official report revealed that the funds were stolen mostly belonged to the company. The looted assets included Bitcoin, Litecoin, Bitcoin Cash, XRP, and Ether.
Since the company’s cybersecurity safeguards were inefficient, BITPoint decided to postpone withdrawals and deposits for the time being. In addition, Asahi Shimbun, BITPoint’s CEO, has announced that the company will return the assets to the customers affected by the attack.
Binance May Heist
In late May, Binance, one of the largest cryptocurrency exchanges, suffered a $40 million loss in the wake of a “perfectly-orchestrated” hacking attack. The authorities pointed out that among the assets stolen by hackers were 2FA codes and API Tokens.
A total of 7,000 Bitcoins were stolen and several high net-worth accounts have been compromised. That did not put the company of business, of course, since the stolen assets were roughly two percent of all of Binance’s holdings. The exchange announced that it will be using part of its self-insurance funds in order to cover for the loses.
Typosquatting Scam
What happens when six hackers get together? They steal $27 million worth of Bitcoins. According to a Europol press release, in late June, five men and one woman were detained following a 14-month-long investigation which involved law enforcement officer from the United Kingdom and the Netherlands.
The report revealed that the six suspects were part of criminal ring responsible for the theft of $27 million from 4,000 people. The method used was typosquatting, which involves the use of clandestine cryptocurrency exchanges in a bid to tap into the victim’s cryptocurrency wallet.
Fall of the Kraken.
Earlier this year, Kraken, one of Bitnance’s competitors, was hit by a cryptocurrency price drop last year. This flash-crash resulted in the coin’s price plummeting from $8,400 to a mere $75. At the time, the company believed that the sudden crash might have been caused by a glitch in the system.
However, that didn’t account for a high-profile’s wallet being hacked and emptied. The subsequent investigation revealed that glitch and hacking were related. Furthermore, the suspect managed to obscure 1,200 bitcoins or the equivalent of $10 million before being apprehended by the authorities.
GateHub XRP Heist
On June the 6th, a group of cybercriminals managed to steal $10 million worth of XRP coin from cryptocurrency exchange GateHub. The authorities revealed that the amount was stolen from 100 compromised Ledger wallets.
Although the account holders were contacted and reimbursed, the investigators have yet to produce any suspects. In addition, out of the $10 million that was stolen from GateHub, only $200,000 were retrieved.
Bitrue Hack Attack
During the same month, another cryptocurrency exchange has been hit by a hacking attack – Bitrue, a Singaporean crypto company, lost over $4 million.
According to the authorities, sometime in June, the unauthorized access occurred. At around the same time, Bitrue’s platform reported that 9.3 million XRP and 2.5 million ADA were transferred to an unknown wallet.
The subsequent investigation revealed that the cybernetic attack was possible due to a system vulnerability that surfaced after the company’s Risk Control Team performed a 2nd review process. Although the assets are irretrievable, the company has reimbursed all the affected parties.
Tips to avoid cryptocurrency fraud
Quite a lot to take in, isn’t it? What can I say? The world’s a wonderful place; the question is now how can one protect himself against these threats. Check out these awesome tips.
Research, research, and even more research
The best way to avoid cryptocurrency fraud is to do your homework before investing your crypto coins. There’s plenty to choose from – in fact, there are over 500 online exchanges.
So, in order to avoid being scammed, take your time to research the exchanges: read their blogs, look at the conversion rates, gains, ICOs, over-the-web security protocols. For extra safety, you could shoot an email to support or a company’s representative to ask about the exchange.
Figure out a way to store your cryptocurrency
Buying and trading crypto coin is only the first step. Next along the lien would be figuring out a way to store your digital assets. So far, there are two ways to store cryptocurrency: working through exchanges and digital wallets.
Exchanges work very much like traditional banks: they offer deposits, accounts, and, of course, charge fees for deposit management and transactions.
As for the second storage method, digital wallets are to cryptocurrency what Revolut and Payoneer are to fiat currencies. Evidently, the decision’s entirely up to you.
Know the tell-tale signs of fraudulent ICOs
As you might have figured out by now, fake ICOs are a scammer’s weapons of choice. Of course, none of this would be possible without someone naïve enough to believe this stuff.
Anyway, in the case of ICOs, you can easily figure out if the project’s legit or fake by taking a closer look at the white paper for signs of forgery. These include:
Less-than-original whitepapers
Fraudsters are more likely to copy an entire whitepaper and pass it as their own rather than writing the whole thing from scratch. Just copy-paste the whole things into Google and the search button. If you see the same thing elsewhere, it’s more than likely that you’re dealing with scammers.
No team members
Most exchange presentation websites feature a media section that contains info about the members of the team. Look for any inconsistencies: incomplete descriptions, stock photos, odd-looking contact details.
Incomplete pages
The websites would look like they were made in a hurry. You know what I’m talking about.
Text inconsistencies
Since these websites were made for one purpose and one purpose only, it’s obvious that the person or persons behind the scheme won’t spend time worrying about details such as blog posts, landing pages, or newsletters. Take some time to read a post or two. Lack of proofreading alone should be a major red flag, one that may point out that the website is, indeed, fake.
Staff reluctant to answer tough questions
Even the most experienced scammer cannot dupe a crypto-savvy user. So, if you decide to get in touch with a member of staff, start asking questions. The more technical they are, the better. A legit employee will be in the position to answer every question related to the product, whereas a scammer might eschew them.
Boost your online security
While it’s always a good idea to beef up your online security, now more than ever you should take the time to review your cybersecurity habits. I know it’s convenient to trade or buy crypto on the fly, but sloppy practices usually result in compromised personal data.
To his end, I would advise you to conduct every transaction from a secured endpoint. Our Heimdal™ Threat Prevention Home product can safeguard your computer and cryptocurrency account against all types of online attacks such as malware, ransomware, cryptojacking, and even bitcoin miners.
On that note, you should definitely consider running a quick scan of your system in order to root out lingering bitcoin miners.
Know thine enemy
Each day, the list of shady cryptocurrency exchanges gets bigger. So, before you choose an exchange, make sure it’s not on the blacklist. Here are the platforms’ names you should look out for:
- Ydconsultant
- Patrimoirecrypto,
- Nettocrypto
- Mycrypto24
- Good-Crypto.
- Gmtcrypto
- Gme-crypto.
- Finance-mag.
- Eurocryptopro
- Ether-inbest.
- Cryptos-currency.
- Cryptos.solutions.
- Crypto-infos.
- Crypto-banque.
- Cryptavenir.
- Coinquick.
- Capital-coins.
- Btc-cap.
- 01crypto.
Wrap-up
Remember that a fool is born every minute. Don’t be one – read, research, get your act straight and always pay attention to your cybersecurity habits. Hope you’ve enjoyed my article. As always, for questions, rants, comments, coffee and beer donations, shoot me an email.
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Has anyone heard of JPCRYPTO? Are they Legit? What has been your experience regarding converting back to $$ and withdrawing funds?
Has anyone heard of Boniry or invested on the platform? Are the platform legit or its fraud?
Is this Bitcoin bonus thing real or a scam
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Now i’m wondering anybody knows any specific trusted company for buy and sell signals. Is this company good and anyone worked with them ?
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Once your virtual currency has been stolen it is incredibly unlikely that you will be able to recover it. In theory, it’s possible to track your stolen bitcoin by monitoring the blockchain However, money does leave a trail and you may be able to follow it to the identity of the criminal. Even if you successfully use public ledgers to trace the currency, since most cryptocurrency is decentralized there aren’t many routes you can follow to get it back.
Has anyone used btc gather….
I lost my money from it, how to get my money back??
Refrain from cryptolegaltrade. Theres a massive scam, and a fagghagg named Sophia, pretending to be someone he or she is not. I was scammed out of $1,600.00. Hard times has gotten me so desperate and I fell for the trap. Please anyone, refrain from these sites and anyone wanting to help you make more money. No one is going to help nor they care about your financial help in need. Aren’t any good people and no one cares. Good people do not exist. Find a better job or something that pays better. It’s hard but it will get better
fxpipsoption.com seems to fit the entire profile. Total scam and now I’m the fool. “Invested” BTC and now can’t get even my initial amount back until I “Pay the commission” before I can “withdraw profits.” Just so happens the “commission” is over & above what I already put in instead of coming out of what has been “gained.” Sucks to be desperate…you make dumb decisions. If there’s any way to report them or to get my BTC back, that would be amazing. If not, thank you so much for posting this & warnings to all out there.
To recover what you lost to unregulated investment websites
Buenos días.
Agradeceré que me puedan comentar acerca de las plataformas fxcoinma.com y Bnefit.io ( actualmente migrando hacia su plataforma definitiva, según sus promotores) En ambos casos, me contactaron por redes sociales ( en el caso de Bnefit ya conozco previamente a la persona que me la ofreció)
the biggest scam and thieves are Brandon Lee | Senior Account Executive Migotrade and his lovely friend……. Viktor Viktorovich in Estonia
Get everything you have lost via the link up there. Thank me later.
Head to the contact page on their website to get their contact email.
Pls is LUNO a legit site to trade crypto currencies?
Have anybody heard Affiliatetradecoin24?
Head to the contact on the website above to reach someone who will help you recover your lost funds via email.
Go to the contact page on their website to get their contact email.
UDCOIN is a scam too
Can you add up crypto247live. I didn’t know much about cryptocurrency so when this so called broker “Andrew Pound” reached on me to invest I’ve been blinded by the platform and invested immediately. But things get suspicious when he keep asking for more and more money to invest. and that’s when I stop investing and have my research research he has been using other photo to show off. Be careful.
Ìs Livecrypto24 a scam or not because they are delaying my withdrawal process by telling me about unpending documents that I submitted that I have to pay a fee for and when you think you can now make your withdrawal they tell you to pay more money for softwares and then only you can make your withdrawal.
Hi do anyone here have a clue about OEQ as a trading currency? And use of a platform looking like “Kraken” …. they want you to be a VIP member and give you a privat investment assistannt. Does this sounds familiare ?
Pls tank nolege, is giracoin a scam venture pls sir
Bitof heaven in Estonia is the biggest scam run away from it.
Please let us be careful when searching for for a trader or an investment platform also if you have lost or gotten your bitcoin stolen becareful of the website you get your recovery agents or experts from. Based on personal experience some website will list names of fake recovery agents or investment companies or fake traders and you won’t find the names of the ones that scammed you, the website will also referred you to some list of legitimate Recovery companies or trading platforms and you find out that they are scammers after sending them money.
I stopped trusting all this websites that list names of fake recovery agents when I contacted one from Their list of legitimate Recovery agents and he or they scammed me £650 for Recovery.
Also after my cousin referred me to Recoverbitcoinscams @ gmail. cm when I lost my bitcoin to a trader around August he said he once used their services to get back his bitcoin from tradeoption or empress earns can’t really remember the name of the fake trading platform. I contacted recoverbitcoinscams and they got back my bitcoin.
The most surprising thing was that I found the companies email listed among fake recovery companies.lol. yet I have referred them to a colleague at work and few others and they also got their money Recovered by Recoverbitcoinscams @ gmail . cm . I think some of these websites just copy out different real and fake contacts and list them has fake even though some are legit.
They do that to portrait their services and disguise as good website and trustworthy then they suggest Their own fake lists as the real ones 😂. Please let us be careful of these websites, many have fallen victim already.
Can I ask if crytoboost.fx is.legit?
Is this a scam too. I see your emails regarding this company in a lot of places.
Bitcoin scam is getting serious now that the market is bullish
Has anyone been involved with the telegram channel Bitcoin ©ommunity Platform of Darin Steven? I see quite a lot of testimonies from people in different countries. I am very tempted to try it but just wanted to do some research first. Any experiences shared will be much appreciated.
Can someone help me check cointiply if its regit or scam ?
Hi Sir, Is Oileum ICO legit and if so, i invested in it through a service company passed in Switzerland. The ICO was launched, but because of changes to government regulations i have to pay the 9% commission up front to an escrow account before Oileum would release my funds the said escrow firm and then i will receive my funds. This process does not seem logical to me, so please give me your advice. I don’t know if my investment is already lost, so i don’t want to loose more money. Thanks
Good day!
May I please know if ALTBASECOIN.CO IS LEGIT.
I would like to invest with them, just would like to know if they are Legit.
PEDRO MBALA.
Did you found out if this company is legit?
Have you found out if this company is legit?
I found out that it is a scam company…
Can anyone help to get back my BTC money? I invested in Cryptblockpay.com but i didn’t get any return of investment. Now after send them many e-mails without any reply from them my account has been disabled.
Hello
has anyone heard of Coin-fly.com
What’s the person you talking to you what’s your name
What is Long Positions in share market?
Go back and read the plan whenever you fall in a hole and are looking for a way to get out.
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what do you think about market peak?
Do you know something about mtzex.com ? They say they’re a 5g cryptocurrency!
Good day. I Recently invested in the MTZEX.com & in the Stock NGC. with good gain for the first 2 weeks . But now I can’t log in or get access to my account & it says ” user does not exist” . is there something I can do ? the help button on their web page goes to whats-app but then is a dead end….
I’m also wondering about mtzex.com, they recently “updated” and now it says my username doesn’t exist.
Thanks for sharing
edctmine.com
I think this could be the latest crypto scam. Anyone else been approached to invest in ECT to be released on 1 Dec 2020?
My brother did. He met one ”rich’ chinese woman in Ritz Hotel, Austria where he works and started chatting with her and she ‘advised him’ to also invest and he did put 2k eur in….
I hope that’s not the case because I have money invested but the way it’s going up seems to good to be true!! 🙁
I have, similar situation as Nina’s brother except the Chinese woman actually put money into an account I opened and I’m looking at the result going up at the moment (I haven’t put a penny). The biggest potential issue I can see is not being able to retrieve the money. I did some research on this platform and it is too new to know if it’s a scam or not. No matter what, their Business Development strategy of using cute Chinese women to lure European money is shady…
How do i find out of my btc is llin my Wallet
We have helped a lot of victims recover what they lost to scam.
How to recover my funds
Has anyone ever heard of Crypto Eco Investments?
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Hi, anyone heard of coinsmaXket?
I have been approached by the so called account manager to invest in coins trading. Made profits but they kept asking me to pump in more money to upgrade to their levels of member. So I will have to reach the upper level to withdraw my profits. Is it legit, am I really able to withdraw?
has anyone heard of crypto future
Hi has anyone heard of surecryptofx.com and cryptocoinsraider.com
Good morning everybody,
I registered an account on a platform called COOLCOIN.PRO suggested me by a chinese girl called Arlene that contact me via Tinder.
I received an invitation code and I had to verify my identity uploading 2 pictures of my ID card.
At the moment I’ve no still bought bitcoins or other values and I would like to delete my account on this platform but I can’t because there’s no the option in my personal area. Does anybody know how to do and if there’s the possibility that they can rob money from my bank? I did not give them any data about my bank or credit card, they only have my ID, telephone number and email address. Thanks
Did you took any action from your side?
Another SHC case is WMC through zg.com. Do NOT BUY WMC on ZG.COM! IT is fake.
did you buy it?
I’m seriously in love with this blast of invaluable investment guide. Pls keep it up. Pls can you. Help me with information about livecrypto24 and moneymanager4u trading platform. Whose platforms l intend trading with.. But cannot access reviews on the two sites.
I am Oscar and I am trading currently with Livecrypto24 and they seem legit but I still want to be 100% sure of them.
does anyone know anything about directcryptos.com
Hello guys,
Has anyone heard of Neo-Chain?
My account has been blocked apparently by the BLOCKCHAIN … and they want me to transfer more money to unblock it, on the promise my account will be unblocked and I can get my money back on the same day.
It sounds very dodgy.
What are your thoughts ?
Hi I have the same problem, and now I am looking for help, you managed to solve this problem please help me want more money for liquidity and now for taxes. what’s going on (pknapik@hotmail.co.uk)
Onyx, Beyond Wealth, Travis Bott = Criminals. Has anyone else been victimized by this Ponzi Scheme? Bott was the COO of Bitclub and three men were arrested last year for this: Three Men Arrested in $722 Million Cryptocurrency Fraud Scheme. Google it. Now Travis Bott is continuing to rip people off. We need help. People are getting ripped off.
Yes victims can recover what they lost. The most important thing is talking to the right people. I was able to recover what i lost and that’s why i’m sharing this to save other victims. Yes you can get the peace of mind you deserve back.
who do i talk about recovering my funds
hey. I have been scammed by the shc, xt.com scam. I invested about $20,000 new Zealand dollars. If anyone can help with maybe recovering some of it that would be amazing. I’m based in new Zealand myself.
There is money there, but now to the value of $34 dollars.
Hey, me as well.
If you find a way you can write under my instagram @joaoventosa.
Same here. Now it’s worthless.
Have you find any clue?
I invested about US$9,000. Now, because of trading by my Broker, the value showing in my account is US$28,000 within 3 months.
I want to withdraw some money. Broker said, she is instructing the Finance. Finance got my account # , etc but now delaying the remittance. What to do now.
They won’t release the payment. I was also a victim of similar situation. You may need to contact a good recovery agency to get back your money.
Can anyone help me to confirm if guanteedexpertoption.com and binancecryptoinvest.com are legit? I have my $500.00 locked up with guanteedexpertoption.com and they are not releasing any profits. Trade expert took $1100.00 for release of funds and now wants a further deposit of $600 in Proextradefx.com for release of funds. I wonder if these companies are scam
Tried with the minimum $250 , and they “made it” up to around $600 over a couple of weeks by “auto-trading”, then i invested $16,500 but when i tried the acid test – a withdrawal, the website was closed to my IP address, and no contact. Endless annoying telephone calls routed through cities all around the UK and Europe trying to entice you to invest more. I reckon it was a scam so i had my tech cousin venture into the darknet and got a black hat hacker who traced IP and crashed their servers, got money back for me in a way i can’t really explain till date but receiving bitcoins back was amazing. I shouldn’t be sharing contact details here but hit up petru at hackwithme,tech. I had worked with Birman law in the past hoping they would help get it back but they wasted my time, same goes to wealth recovery.
How can I get my BTC back? I lost to the same scam like above
Nice information
Thank you for the information
Is there any someone make a deal with telegram channel “ULTIMATE CRYPTO-CURRENCY INVESTMENT” ? I have selected a plan and paid the fee, but they want for fee such as tax from me. I think that it seems be wrong. Help me, Please.
Hi
Have you heard about the Asian cryptocurrency market coinht.com?
And the FMG startup? Does anyone have any information or isn’t it a scam?
Yes it is a scam china girl met on tinder, she convince me to invest on FMG, for me coinht.com site was safe site, i didn’t see any scam, i am completely novice i have test to see if transfer back to my initial platform account was possible and it worked. all get wrong when i did a transfer to all the asset last monday nothing have been transferred, until now i still investigating why transfer didn’t work.
yes big scam, i also invest on FMG ,we transfer back BTC yo my platform the transaction never arrived…
It’s a scam. Don’t fall victim.
Has anyone worked with a company called Vechainholdings? I invested some money and according to the broker I made quite a bit of profit but now I have to pay 20% of the profit value upfront before I can withdraw the money (10% broker commision _ 10% exchange fee back to fiat money). ….
The scammers always said this is the last fee, you can make it with this fee.
But this is not all, they want more fees and they will say that you are wasting your time, Or session is closed and we can start again after you pay the fee. All scammers say such this. Don’t believe anyone!
I got ripped off by them recently i had to hire a recovery company to get my funds back very pleased with the results and i got my money back so i cant complain
Good decision though
Which recovery company did you use?
Which recovery company did you use pls?
Love the article. Can anyone tell me about http://www.crypto-interest.co? Thanks for any input.
loved your article. how authentic is Elamant? i received a message asking me to join the club but i am a bit hesitant.
Does anyone have experience with SHC (Shalter Chain) throught XT.com?
I am afraid I have been subject of a scam and wondering if if there is any way to retrieve my money
Yep. I am starting to feel very much the same way.
What’s your experience?
Same as me, how was SHC introduced to you?
Same here
Bonjour, vous a t’il été présenté par une chinoise sur tinder ?!
Bonjour, est ce une chinoise sur tinder qui vous la présenter ?
I invested a lot in SHC ICO listed in xt.com, and I am feeling really anxious now… Although trend of SHC is going really nice, I have some doubts about getting my investment back. I had bought SHC from the bottom price like 0,047 USDT, the actual market price is above 1,3 USDT… Technically it seems like a really nice profit, but it seems like too good to be true. SHC will be unfozen in 1st of August? what are your information and experiences about SHC and xt.com? If SHC is scam, what do you suggest to get my investment back?
Hi any update on this matter? Has anyone tried to sell before the unfrozen date?
I also invested in SHC at xt.com, think I got fooled 😑
hi guys, same here also invested in SHC. have you also been approached by a chinese girl? must be a scam no?
what is the chinese’s girl name? i think we all have the same issue
Hello I’ve been scammed by the Chinese girl I met through tinder who convinced me to invest in SHC on XT.com yesterday she blocked me on WhatsApp after investing more. Any info of help will be appreciated
Hi all, you can find this communication on XT.com website. Not good signs.
Dear XTers
Due to the strategic adjustment of the project party of SHC , SHC secondary transactions will be transferred from XT.com to FIBTC.COM when SHC IEO ends on August 1, 2020 (SGT). XT will also remove the trading pair of SHC/USDT on August 1, 2020 (SGT). Since then, the trading platform officially designated by SHC is FIBTC.com. At the same time, XT will also help users with SHC withdrawal.
FIBTC Website: http://www.fibtc.com
is her name Cherly? what do you planning to do about your money , same situation!
Wen Qing she called herself, with a picture of her in a nature pool on whatsapp. same there?
The Chinese girl was called Cheryl, she blocked me on WhatsApp yesterday, I feel it’s a scam
Yes her name was Cheryl, for now the money is blocked, let see in August what will happen
Search “reddit xt.com shc scam”
indeed , i went to the page and in xt support they reply in a very stupid way, not like a big corporation. and they give you that email par…266…@gmail.com,,, what crypto have a gmail to response???? im thinking that the scam actually was since
XT.com
Same here, please share any infos if somebody has news about how may get a little bit of money back.
see, and the result of waiting was 0,0001 price for sell!
contact @progressive_life on telegram to talk about our scam!
I was scammed by xt and the SHC scam as well by a girl I met on tinder named Annie (or who I thought was a girl). Does anyone know how to get money back?
Officially it is a scam. The SHC tokens have no value. Has everyone the same situation?
Same thing, we were all scammed, does anyone has get his investment back ??
Same situation here. Same scam. Worthless tokens.
does anyone knows about Ikccoins.com or llb-ex.com?
Has anyone traded with Elitetradingoptions.com?
Hi, can you tell me anything bout Royalstox.com ?????
They are scam. Alot of complaint about them already please be careful.
I wish I can say I invested with matic signals they change to matic options but it was just a ripoff from the start pushy people rude and all lies never could figure out why I had to pay so many fees to get my money out I gave up
Kyc House of Bits – I sent them a deposit of $450 after a promising add promoting automated trading in Bitcoin, – they wanted me to sign authority to purchase and when I didn’t do this they now want my bank details to pay me back. To scared to do this – what should I do?
Where is the email address if i want to ask a question? Th
Another Bitcoin scam to be aware:
https://www.youtube.com/watch?v=bjGx4JCKcy0
I would like to enter into this cripto game but not sure which one to invest I was thinking about CFD south Africa is it a good move or not and I like the tips on your article it helps alot God bless
You should try and make research on forsage… Serves as a good investment platform right now, but it needs affliate marketing to make it through.
The article was good and practical, thank you
Has anyone dealt with ethereum global? Or heard of them?
Don’t touch them! I invested £25,000 and had made a profit of £48,000 to date. I then received an email to say I have to pay tax on this of £12,960. I had only wanted to withdraw £5000 but I was told I had to take it all but my funds would not be released until I had paid the tax. Having scraped together every penny to pay the tax my funds have not been released. Emails not answered, nor are my phone calls. I am devastated. They are no more than common criminals
Help
i really see bitcoin getting bigger and having a stronger ground in the financial sector of this world, the way it has lasted during its ups and downs is what will make you realize bitcoin is here to stay. I have made over 40k$ in the few months of investing with nc-worldwide, com. if your’e interested in investing with Crypto or Bitcoin this is where i would recommend for you, withdrawal is not an issue because i have withdrawn my profits severally.
what can you tell me about NUI International?
and about arbitrage.is?
Interesting Article. Thanks for sharing nice information. Useful for getting more knowledge on trading.
Hi am shyllous i invested with a company called swift ExpertOption when i wanted to withdraw my money they directed me to wylands bank account which i have paid alot money being told withdrawal charges fee,cetificate fee Attorney fee and many more charrges.I think that company isn’t legit
It incredibly horrifying when I see people fussing of getting duped I was ones defrauded I know how it feels like, yet I had the option to get back the entirety of my assets however a private security organization that took my case and helped me recoup mine
Great! Thanks for sharing this post with us.
Anyone heard of Cryptobravos? I was approached by them. Thanks
i had an exchange with them today.
Nancy in finance, very erratic, pressured hard to have me place money instantly.
when I said I would upload in next hour, she got angry , said she had spent 15 minutes talking to me, and if I did not upload money like she told me to, i had wasted their time, since they are very busy and did not need my business. I said thank you for your time. received 5 calls in a row after hanging up, i picked up on 5th call. Gentlemen demanding to know why i sent an email requesting that my account be cancelled. I said it was not for me. Gentlemen was not happy and demanded I tell him why. Adam Laurent emailed me, shortly after. His email is registered to Adam Laurent, his business profile and card is Adam Laurant. I replied and asked why? he promptly emailed me back telling me “You are too free, find something to do in your fucking life” Everything seems to be a scam with this place. Just look at the webpage ? nobody stands behind this place, all shady, no names, nobodys, ghosts in the machine. Stay the heck away everyone. not a trustworthy place.
Thank you so much Robert
I have been talking with them also. Very high pressure and the guy kept calling and calling and would not give up. They said they take 6% of the increase they make me. They want me to send them all my bitcoin yet they tell it is secured and they can’t make withdrawals. I finally told them in anger to LEAVE ME ALONE!
nice article. I lost my Money to a trader. how can I get it back. I paid through bitcoin Wallet
with the help of a forensic expert i was able to reclaim my lost bitcoins .
It’s interesting what you wrote. Could you tell me whose service you used to get your money back? Recently a Coinfirm, company that deals with KYC and AML is gaining popularity on forums and portals. I saw that they also offer a “reclaim crypto” service. I would trust a company described as a “global leader in anti-money laundering services in the cryptocurrency space”.
Am against the petition on banners brokers, i also lost money but i finally got it back. I can help if you need info.
Stephen
Can I get info on you got your money back did you use some one or did you do it yourself
How to retrieve the money if yougot scammed?
hi stephen,
even i lost my bitcoin could u please help me.
Good afternoon. I invested in a coinht.com and is a spam. Im trying withdraw the money there, in first time it worked but i just withdraw a very small money, maybe is the the tactic, after that i won and i tryed a higher amount… money never was tranfered… isnot in my wallet neither in the new site… just desapear… now they sent me this message “Reply content
respected user: After our repeated screening of your account, we have now determined that your account is a risk account. We will block your account, if you need to unlock the account you own, you need to recharge the account for the same amount of verification”
they want more money……
Can someone give me a idea how can i get some money? i know i will lost almost….. but i have a little hope to get some yet…….. thx for help
Could you please share info about how you could able to get your money back?
Hi stephen,
even i lost my bitcoin could u please help me.
how can i get my money back from bannersbrokers too
Hi there,
Love this articles.
You can get your btc back