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The last few years have seen a sea change in the way most people shop, learn, communicate and trade. We are spending more time online than ever before, and with this change, there are fresh opportunities to make every aspect of our lives more convenient.
However, there is a dark side to the convenience economy. More than ever, scams pop up and offer incredible discounts or promise impossible returns on assets like forex, binary options and cryptocurrency. These aren’t always poorly worded ads filled with all-cap statements, poor spelling and exclamation marks. It is easier than ever for the average person to create a professional-looking website and to fake identities, even credentials.
To stay safe from crypto scams and forex scams, it is essential to do research before committing any funds to a financial service. Also, if you have lost money to one of these broker schemes or if you suspect it is fraudulent and can’t convince them to release your funds, talk to professionals who understand fund recovery.
If you are trying to get a withdrawal from a broker or have a complaint, you need a team of experts who can ask thorough questions, follow the right leads and do a complete investigation into the incident. CryptoTrace works closely with regulators and authorities and can find information that will be useful to them and ultimately to you.
The FBI, the FTC and other government agencies have alerted the public about the increase in all types of online fraud and cyber crime. According to FTC statistics, Americans have lost $80 million in online frauds since 2020 and these schemes have increased 1,000%. These statistics are just in the United States–there are similar numbers in Eurozone and other areas of the world.
Why are there so many of these broker schemes? Here are some of the reasons:
The more time people spend online, the more people who want to create a scheme that will attract thousands or even millions of people use online efforts to attract them. They may have a website, various social media accounts, a Whatsapp group, use social media ads and email spam to attract new clients. Although many people dismiss these efforts outright, if they cast wide enough nets, they are likely to catch more than a few customers.
The internet has increased the opportunities of making contact. This is excellent for your business if you are creating a marketing campaign. This is not so terrific if you are a consumer who is tired of spam and aggressive marketing techniques, but has resigned yourself to the notion that this is the way people do business nowadays. Since it is relatively easy and cheap to use these tactics, legitimate businesses as well as scams can use them. As a result, customers are often confused about which operations are real and which are frauds.
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The gig economy has made it necessary for many people to work several jobs. People do not feel that their employers have very much invested in them and given social trends such as the Great Resignation, employees may feel the same about their former employers. The opportunities to earn money online seem endless. The problem is many of them are harder than they appear to be at first glance, and a good number are not even legitimate.
Anyone can open a social media account with a stock photo and create a name for themselves. People can also hide behind email addresses that do not indicate who they are. Building a website is easy, even for those who do not have design talent and web copy, SEO and other skills can be outsourced cheaply. The fact is, anyone can start a business nowadays, whether their motives are good or not.
There are always trends, and the same is true of trading. Forex, CFDs, cryptocurrencies, binary options are hot trading trends. They are also mired in scandal, because many of the brokers who offer these services are frauds. This is not to say there is anything wrong with trading these assets with a regulated broker. However, it requires sifting through many fake opportunities to find the real thing.
Cryptocurrency is revolutionizing the way people use currency. There is no need for a centralized bank or government regulations to govern transactions. However, cryptocurrency has unleashed a virtual Wild Wild West of crypto cowboys and outlaws.
Transactions on the blockchain are anonymous, and many scammers have used this as an opportunity to hide their identities. However, this does not mean that they are protected against law enforcement. Crypto experts have developed effective methods of tracking down illegal activities on the blockchain and figuring out who is behind them.
These reviews were created to protect you from broker frauds. If you see a broker on this list, do not open an account with them. Our team has investigated the brokers on this list and have determined that they are problematic because of at least one of the following red flags:
Any broker that fits this description should be avoided.
If you have deposited money with any of the brokers on the following list, ask to withdraw your money right away. However, if they do not honor your request to withdraw money, talk to CryptoTrace immediately.
Don’t go it alone. Crypto Trace experts have worked with numerous clients who have a broker complaint and want to retrieve funds. Consult with Crypto Trace experts today and provide a full account of what happened so we can get started drafting an intelligence report. The sooner we can help you, the more likely your crypto scam complaint will be met with positive results.
If you have deposited money with any of the brokers on the following list, ask to withdraw your money right away. However, if they do not honor your request to withdraw money, talk to CryptoTrace immediately.
Don’t go it alone. Crypto Trace experts have worked with numerous clients who have a broker complaint and want to retrieve funds. Consult with Crypto Trace experts today and provide a full account of what happened so we can get started drafting an intelligence report. The sooner we can help you, the more likely your crypto scam complaint will be met with positive results.
Reporting a crypto scam means having all of the communications available so Crypto Trace experts can get a full picture of how the fraudsters operate, what methods they use, what exactly they did and any hints they might have dropped regarding actual identities and their whereabouts.