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Cryptocurrency Trading Scams

Trading cryptocurrencies has become a legitimate and sometimes lucrative investment avenue. Most people have heard of ‘get rich’ stories through trading online currencies. However, as this type of investing has become more popular, it has also attracted organised criminals.

Investing via a fake broker

Often, these scammers are very well-organised, and the most common type of cryptocurrency scams encourage individuals to invest with the assistance of a broker via the broker’s website. The broker in turn trades the cryptocurrencies on behalf of the investor, and the investor can monitor the trading and in some instances even withdraw small amounts of money. However, you’re likely not seeing a real trading account, but merely a fabrication created by the scammers, which looks like a real account. No trades have actually been made on your behalf!

Starting small, then asking for more (and more)

The trader companies appear legitimate, and it can be very difficult to tell it’s a scam website. It’s highly likely that you’ll start with a small amount, maybe a few hundred dollars. The scammers will often send you a payment back after your first investment; this could be as much as $1,000 or $2,000. They’ll advise you that your investment performed well and you’ve achieved a great return! At this point, you’ll be encouraged to invest a larger amount. And it seems like a great idea as you’ve just seen what a great return you received on your first investment. It’s looking like you’ll be on that island with a pina colada in no time!

At this point, there will no doubt be some issue which arises and you won’t receive that second pay-out. Instead, you’ll be advised that the market goes up and down and now is not the time to stop trading. Instead, the scammers will encourage you to invest even more money.

Global operations

We’ve helped clients who had lost hundreds of thousands of dollars to cryptocurrency scams to get their money back. Often, the scammers hide behind shell companies and operate across multiple countries and jurisdictions to make it harder for law enforcement to track them. Cybertrace have the ability to identify the perpetrators behind these cyber crimes, recover your money and bring justice.

How Cybertrace can help

Unlike other services, which promise to recover your stolen money, we don’t just “file a complaint” on your behalf. We use our experience and global network to extensively investigate the matter and person(s) responsible for stealing your money.

Cybertrace assure you of full transparency whilst providing you the best chance of recovering your money.

If this situation sounds familiar and you’re either in a scam or have been scammed, then don’t let the scammers know you suspect something; instead, contact us to discuss how we can help.


3 thoughts on “Cryptocurrency Trading Scams”

  1. Pingback: Cryptocurrency Fraud Explained - Cybertrace Australia

  2. Hello, I began investing in a company called Coiniswap. Supposedly they operate out of Switzerland. They have a website, http://www.coiniswap.com. My initial deposit was $320 Canadian to open my account with them. The initial deposit was on 14 Nov 2021. Every day a guy named Adam Newman called me and chatted with me via WhatsApp. Over time I was introduced to the North American trader, Adam Price phone number: 12894264410. He was the big shot of Coiniswap. He offered me a VIP position, Diamond group. In total I sent over $90,000 Canadian dollars. In return I would receive $120,000. I fell for it, the big scam. Platters were, Adam Price, Adam Newman, Thomas and Margaret Mayer. All of them are criminals. All transactions were via Shakepay (Bitcoin) to my Coiniswap wallet address: 39z7rQnmGCE4zVrgiXe3jzHwXyv2aQMBtm

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