Guide - Fake Trading Platforms

This guide will help people who have fallen victim to an online fake trading platform. The aim is to minimise damage, prevent further loss and to gather evidence.

Before we begin, please note that these types of situations often lead to a second scam - A recovery scam! This type of scam is targetted specifically at you because bad actors know that you're in a vulnerable position and will part with further cash if given enough hope. It is most likely conducted by the same people and can be devastating in their own right.

Realizing that you've been interacting with a false trading exchange website can be alarming, but prompt action is essential to mitigate any potential losses. Here's a comprehensive guide on what steps you should take:

1. Cease Transactions: Immediately stop any transactions or interactions with the false trading exchange website. Cease all deposits, withdrawals, or trades to prevent further exposure to potential risks.

2. Secure Your Accounts: If you have provided any sensitive information such as login credentials or personal details to the false trading exchange website, take immediate steps to secure your accounts. Change passwords for all relevant accounts, enable two-factor authentication where available, and monitor your accounts closely for any suspicious activity.

Seek advice if you have ever shared your screen to the perpetrators or installed a software at their request. Feel free to email [e-mail] Do not trust any payments from them, including cryptocurrencies. If they send you money to gain your trust, don't assume it's real without checking with a professional. Reach out to [e-mail] for help. Remember, cryptocurrencies can be fake.

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3. Verify Legitimacy: Confirm the legitimacy of the trading exchange website by cross-referencing information with reputable sources such as official announcements, regulatory authorities, or community forums. Look for red flags such as spelling errors, suspicious URLs, or unrealistic promises of returns.

4. Report the Website: Report the false trading exchange website to relevant authorities such as financial regulators, consumer protection agencies, or cybersecurity organizations. Provide detailed information about the fraudulent activities and any evidence you have gathered.

Websites like the FCA will often announce when a project is not registered or illegitimate, warning people of a potential scam. You can often see this just by Googling the name of the project. If you haven't already, report the project to your national authority.

5. Notify Others: Warn others in your network, including friends, family, and online communities, about the false trading exchange website to prevent further victims from falling prey to the scam. Share your experience and advise others to exercise caution when engaging with online trading platforms.

6. Seek Legal Advice: Consider seeking legal advice from a qualified attorney specializing in financial fraud or internet law. A legal professional can provide guidance on your rights, potential recourse options, and steps to take to recover any losses incurred.

7. Preserve Evidence: Preserve any evidence related to your interactions with the false trading exchange website, including screenshots, emails, transaction records, and communication logs. This evidence may be crucial for any future investigations or legal proceedings.

8. Monitor Financial Accounts: Monitor your financial accounts, including bank accounts, credit cards, and cryptocurrency wallets, for any unauthorized transactions or suspicious activity. Report any anomalies to your financial institution immediately and take necessary steps to secure your accounts.

Blockchain/ Crypto Investigation: If you need support to track and trace any stolen digital assets like Bitcoin, please head to intelligenceonchain.com/services and open a case, or email [e-mail]

9. Educate Yourself: Use this experience as an opportunity to educate yourself about online security best practices, scam detection techniques, and due diligence when engaging with trading platforms or investment opportunities. Stay informed and vigilant to protect yourself from future scams.

10. Stay Informed: Stay informed about developments related to the false trading exchange website, such as regulatory actions, law enforcement investigations, or community responses. Follow trusted sources for updates and continue to advocate for accountability and transparency in the online trading ecosystem.

By taking proactive steps and seeking appropriate assistance, you can minimise the impact of encountering a false trading exchange website and protect yourself from further harm. Remember to prioritise your security, stay vigilant, and empower yourself with knowledge to navigate the complex landscape of online trading safely.