Why Are So Many Online Trading Brands Being Exposed as Scammers Recently?

Home » Funds Recovery Blog » Why Are So Many Online Trading Brands Being Exposed as Scammers Recently?

The crooks of the virtual sphere are raising their heads lately, with cybercrime reaching all-time highs in 2020. This is naturally a result of a whole lot of trading being done online these days, but also of the inability to enforce the law on these virtual criminals. However, on the brighter side, these crooks are also being exposed on a much larger scale.’

These fraudsters manage to find new and different ways to scam people; they have blown people’s minds with how they scam people. But as the world is advancing, people are becoming more aware of the dangers and the problems of the crypto world. It is the best choice to expose these scammers and inform new investors of the cons and warn them. The information circulates very quickly in the online world of this era, and it is a lot easier to spread the word. 

More Significant, Bolder, Braver

With cybercrimes reaching such a scale, it is only natural that we hear about them more these days. However, it’s not only about the numbers and frequency but also characteristics. Sadly, scammers are getting more sophisticated and less afraid and constantly reinventing ways to snatch your funds from you. For example, a new tactic recently surfaced is brokers who refuse to let investors withdraw money from their accounts, citing that a form has not been filled out correctly or some similar excuse. You’ll never really be able to fill out the form in a satisfactory manner – and there won’t be anyone to talk to to get assistance.

Financial Scam

Speak Out, Be Heard

This phenomenon also has an excellent explanation. Victims of cybercrime are not afraid to share their stories anymore. The internet has made it easier to spread the word and warn against the cons, and most importantly, barriers of shame have been broken. It’s hard to believe, but internet scams were once considered something you don’t talk about. This mainly had to do with victims feeling that the situation was partly their fault – they did something wrong and should have been more careful. Luckily, these days are gone, and victims now dare to talk about it. The internet has played an important role here, with many forums and websites dedicated to stopping cybercrime. The crooks can’t hide anymore. Oh, you’re a licensed broker? Many online trading brokers today boast the fact that they are supervised, regulated, and licensed. This means an institutional body supposedly oversees their actions and grants them a permit to operate. Don’t be fooled, though, since this is far from guaranteeing any form of decency. It does give victims a place to turn to expose misdoings.

What is the lesson to be learned here? First of all, never trust a non-licensed broker, that’s for sure. Keep in mind, though, that these licensing bodies are not necessarily influential. Some of them are very lax when it comes to regulation. If you want to understand how trustworthy a broker is, read reviews and ask around. Also, never trust any broker with new applications or investment companies and websites that they lead to; always do your research about everything you will put your money in, and take the step once you are fully satisfied and 100% assured of the authenticity regarding the investments. Some online websites and ways to learn about the brokers and their licenses; you can add some information and get to know if the broker is honest or a scammer. 

girl with a laptop

Enter Cryptocurrency

The crypto market became increasingly popular in 2020, with other markets becoming less attractive to traders. There’s no need to reiterate the phenomenal success of Bitcoin over the past few months, which has led to a wave of new traders interested in buying and selling it and other Altcoins. However, new markets also mean new methods for scammers to steal your money. With a boom in the crypto, trade came a boom in crypto scams. For example, a common fraud reported lately is when brokers try to convince investors to put their money on some new crypto coin (which sometimes doesn’t even exist). They disappear with the funds before the victim realizes they’ve been conned.

However, the bloom in crypto scams has, in turn, led to the establishment of companies offering services of recovering scammed Bitcoin. These people know not only to track down the cons and expose their wicked deeds but also to bring them to justice and retrieve lost funds. You hear a lot more about crypto scams these days – there’s someone out there working hard to expose them.

Exposing the Crooks Isn’t Enough

If you have fallen victim to an online trading scam, don’t just settle for exposing the crooks. It is essential to warn others, but it’s not enough. We can help you in the process of retrieving your money. We’ve been doing it for years now, with over 550 satisfied customers on our record already. It’s never too late to start the process, but you shouldn’t wait too long with it either since getting an early start raises the chance of a more significant reimbursement. Please don’t wait; talk to us. The time to be shy and not talk about such things is gone; people prefer to reach out and seek help to get a refund of their lost money, which is the best decision one can make. 

man handcuffs

How Long Have These Looters Been in the Market?

It seems like the era of these scammers just began nowadays but these fraudsters were present all along from when the world stepped into online trading and cryptocurrency. Everything has its pros and cons because we cannot make everything perfect and right, but we can make sure that we avoid the cons and work our way through suitable means. The fact lies that these scammers were always present in the market finding new ways to scam people and loot away their money, upgrading themselves with time and finding better and new methods of fraud. With every further advancement, they got better and better at scamming the investors. They are present in various forms; they can be your online brokers, sending fake and unauthentic emails, scamming websites, phishing, etc. 

How to Know That You are Being Scammed?

There are no such rules or ways that say you can always find out if you are being scammed or if you are being led to one. But one thing we can do not to let ourselves fall for a scam is by knowing some tips and tricks to catch the fraudsters. Many fake crypto wallets in online ads and play store apps intend to steal your personal information and rip you off your money. One should always do proper research and get to know about its ins and outs before adding cash to it. Many fake wallets were banned from the play and App Store, but some remain in the hood.

These looters often send in fake company names and information, which is a scheme to get all of your personal information and identity. Many brokers lead people to fake websites and ask them to install applications and software which are nothing but a way for them to track down the victim and steal all the money. 

Cryptocurrencies exist in digital forms and can only be transferred to digital addresses. When it comes to crypto, you get two keys; a private key that you should never share and a public key like your email address which you intentionally share. Many people confuse these, which leads them to get scammed. Another scam is asking for you to invest for yourself as a trusted creator. A fraud will create a bot that seems official or try to impersonate a project, specifically a team member, and then they will directly message you so that they look official. One of the common scams is that they ask for a hundred dollars, and then they will turn it into two thousand dollars for you and then give it back to you, and they are claiming to invest your money for you.

scam dice

The Story of a Crypto Scam Victim…

In February 2021, a teenager named Sarah who was a student and did a part-time job at a shop thought of investing some pocket money into cryptocurrency when she learned about it from a friend of hers. She did not know much about the crypto world but invested her money in it. So, she searched for some online brokers and trusted one with it; she logged into the website and did some research personally, hoping that the outcome would be well. Sarah interacted with a broker and gave in all the required information they asked for. Later on, the broker led her to some websites and told her about a set of new companies that had just entered the trading world and said that they were blowing up the market and the investment would be worth it. She believed in the broker and signed into the web page, nothing but a scam. 

She did not know about it at first, but when the broker asked her repeatedly to invest money, and she could not even reach the websites nor withdraw her money, Sarah felt something was fishy. She instantly stopped funding more money and discussed the whole situation with a friend of hers, who suggested an online website to seek help from. Sarah sent an email and asked the website to help her in the matter, and she got a response in significantly less time. Moreover, they helped her get her money back in a few days with a 100% guarantee and assurance. Luckily, she got a refund of all the money, and the link of the website and broker came out to be fake and unauthentic, which was later on blocked and reported. Sarah shared it on her online accounts and asked her friends to spread the word about this particular fraud website of brokers. 

Lost money to online fraud? We will recover your funds !

    We only process cases of more than $5000

    How to Get Your Money Back?

    This question often confuses the victim who the looters have scammed, and unfortunately, many people have no clue about it. You do not have to worry or hesitate to seek some help and assistance from professionals or companies who are out there to provide the proper guidance and help to recover your lost money. In most cases, the most reliable way is to contact your bank as soon as possible and let them know about it; you might even get a refund if you inform your bank timely with precision. 

    If someone has been scammed for a large amount of money in an online trade system or through a broker, they should directly seek help from cybercrime or internet fraud which will help a lot. The case might get forwarded to FBI agents or for proper law enforcement and case study. 

    Reasons Why Most Victims Did Not Reach for Help Originally

    The victims were cautious and did not know if they could be guided in the right ways to get their lost funds back or if the process would end upright. Moreover, people think that they did something wrong on their end and the fault can not be fixed, but this doesn’t seem right as losing hope and not seeking help will only be a problem for them, and they might end up criticizing themselves all the way. 

    businessman logging his tablet

    Don’t Forget To Take Precautionary Measures

    The world is not more aware and bolder when reporting and exposing fraudsters. We cannot stop ourselves from investing in the trading world, but we can take proper precautions and measures accordingly.

    Lost money to online fraud? We will recover your funds !

      We only process cases of more than $5000

      We do understand that you’ve already been scammed online and that you’re naturally afraid of paying online. This is why we do offer a free case review, and won’t charge anything if your case isn’t qualified. Please do your part of the deal, and submit your case only if you truly intend to proceed with the recovery process.

      Get a free consultation!