Cybertrace investigators are issuing an urgent alert about the Uptrend Center scam (uptrendcenter.com). Operating from their slick-looking website at uptrendcenter.com, the scammers pretend to be serious investment brokers. However, behind their shiny exterior is a sophisticated scam operation that seeks to fleece you of all your money. Importantly, do NOT give these fraudsters any of your hard-earned cash. While they may sound nice over the phone and pretend you are making gains, it is all a fake façade. As soon as you want to cash out, the Uptrend Center scammers will delay, obfuscate, and ultimately disappear. If they are doing this to you, do NOT give these crooks any more money in fake “fees” and “taxes”. It’s simply another way to fleece you of even more money. Instead, contact Cybertrace’s experienced investigators today to discuss how we can help you fight the Uptrend Center scammers.
What is behind the Uptrend Center scam?
Like other investment fraud, the Uptrend Center scam (uptrendcenter.com) has a simple goal: stealing as much of your money as possible. But how do they do this? Firstly, the scammers contact their targets through social media with “investment” opportunities that simply sound too good to be true. Whether it’s forex, commodities, indices, shares, or cryptocurrencies, they make it seem like a dream combination: low-risk and high-yield. But as the old adage goes: if it sounds too good to be true … it probably is! Unlike many other scammers, these crooks have also put a lot of work into their website (uptrendcenter.com) and supporting infrastructure. Whether it’s slick videos, glowing testimonials, or comprehensive reviews – they go all out in producing fake supportive material. It’s all about making their scam operation sound as convincing and professional as possible.
How does the Uptrend Center scam work?
Once they have gotten their victim to sign up, the Uptrend Center scam (uptrendcenter.com) artists work on them over the phone. Using well-known scam tactics, they quickly build fake rapport by appearing personable, supportive, and familiar. After getting their targets to “invest” a small initial amount, it looks like you are making a quick “win”. Buoyed by this experience, victims are then encouraged to invest more and more, and they can see their gains rising further and further. The only problem: it’s all fake! There’s no trading account, no gain, and no investment of any sort taking place. All the scammers are doing is funnelling more of your money directly into their pockets. And they will continue doing so until you have no money left or want to cash out your “earnings”. Additionally, they are hoping you will rope your friends and family into the scam via their referral program.
What if you want to cash out your “investment”?
You may have run out of money to “invest”, feel a little suspicious, or simply want to realise your “gains”. Whatever the reason, as soon as you tell the Uptrend Center scam artists that you want out, everything suddenly changes. Their friendly tone changes to pushy, responses take longer, and they make it seem like you’re doing the wrong thing. And, from their perspective, you are: you’re not letting them steal any more of your money! Apart from delaying communication or trying to convince you to keep putting in even more money, they may also tell you that you need to pay “fees” or “taxes” in order to withdraw your “investment”. Sadly, many victims thus lose even more money before they realise they have fallen for a scam. Needless to say, this is simply another way to defraud you for even more money. Do NOT give them another cent!
How do you know the Uptrend Center is a scam?
Most of us are not cyber fraud detectives, so how can we tell whether a supposed investment broker is dodgy or not? Let’s consider some red flags Cybertrace investigators look for when examining the Uptrend Center scam and others like it:
Unlicensed & Unregulated
The first question to ask of any investment broker is whether they are licensed and regulated. Licensing and regulation by a competent authority usually mean customers and their money are protected from unethical investment behaviour. For example, licensed brokers would typically not be allowed to offer spreads of more than 1:30-1:50 for retail investors. By comparison, the Uptrend Center scammers offer a risky 1:400! Looking at the Uptrend Center scam website, it’s not clear where they are based and whom they can offer investment products. It’s not until you look at the small print (T&Cs) that it mentions Saint Vincent and the Grenadines. While undoubtedly a beautiful Caribbean country, this domicile does not have any forex or other investment supervision, licensing, or regulation. Furthermore, the scammers base their bank accounts in the Seychelles, another offshore banking destination with strong secrecy provisions. Clearly, they don’t want to be accountable!
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Alerts by Authorities
Another strong indication that the Uptrend Center scam does not deserve your trust are warnings by relevant authorities and regulators. For example, Cybertrace are aware that the scammers are targeting victims in Canada, Portugal, India, Israel, and the USA. However, they don’t have a license to operate in any of these jurisdictions, Additionally, a quick scan reveals that Canadian authorities have started to sound the alarm in Ontario and Alberta. It’s a good idea to heed those warnings and NOT invest with the Uptrend Center scammers.
Negative Reviews
Before making investment decisions, it pays to have a detailed look at broker reviews by other investors. Importantly, learning from others’ bitter mistakes means you don’t have to make them yourself! However, you need to be able to discern between genuine and fake reviews by using your detective skills. If independent investment review sites award the Uptrend Center scam extremely low trust ratings, should you risk investing with them? If individuals detail their experience of scamming behaviour, should you trust the Uptrend Center? Conversely, it looks like the fraudsters have put a lot of effort into planting fake positive reviews. They do this to manipulate how you perceive them, hoping you won’t notice. But if supposedly independent personal reviews keep using the same “cool” language (‘dope’, ‘lit’, ‘swag’), could they be fake? When even Trustpilot notes the prevalence of fake reviews, it might be time to stay away from them!
Is there a quicker way to tell?
While we can all learn more to stay ahead of scammers, sometimes they can get through even our best defences. And who has the time to painstakingly investigate every potential investment opportunity? Luckily, Cybertrace has developed a free, easy-to-use scam website detector, ScamID. Simply run any investment website (such as uptrendcenter.com) through ScamID to see if there are any known risks associated with the site.
What if the Uptrend Center scammers already defrauded me?
Unfortunately, our alert may come too late for those the Uptrend Center scam artists already defrauded. If that has happened to you, it’s normal to feel upset and even embarrassed. However, it’s important to note that it’s not your fault. These scammers run a sophisticated criminal operation and know exactly how to manipulate people. Instead of getting mad, get even! As leading cyber fraud investigators, Cybertrace can help you get justice by turning the tables on these crooks. Whether it’s uncovering the inner workings of the scam, forensically analysing their website, or tracing cryptocurrency payments across the blockchain, Cybertrace can help identify the scammers. Contact our experienced investigators today for an obligation-free quote.
If you are a current or former staff member of the syndicate and would like to speak with us, you can contact us anonymously via [email protected]. We have successfully worked with conscientious insiders when investigating previous scams, thus bringing justice and relief to long-suffering victims. Your help can make a real difference!
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