Forex and online investment scams
How does this scam work?
Fraudsters will cold call victims and use social media platforms to advertise ‘get rich quick’ investments in mining and trading in cryptocurrencies such as Bitcoin.
Fraudsters will convince victims to sign up to cryptocurrency investment websites and to part with their personal details such as credit card details and driving licences to open a trading account. The victim will then make an initial minimum deposit, after which the fraudster will call them to persuade them to invest again in order to achieve a greater profit.
In some cases, victims have realised that they have been defrauded, but only after the website has been deactivated and the suspects can no longer be contacted.
How to protect yourself:
• Don’t assume it’s real – professional-looking websites, adverts or social media posts don’t always mean that an investment opportunity is genuine. Criminals can use the names of well-known brands or individuals to make their scams appear legitimate.
• Don’t be rushed or pressured into making a decision – a genuine bank or financial organisation won’t force you to part with your money on the spot. Always be wary if you’re pressured to invest quickly or promised returns that sound too good to be true.
• Stay in control – avoid uninvited investment offers, especially those over cold calls. If you’re thinking about making an investment, get independent advice and thoroughly research the company first.
Cryptocurrency transactions are irreversible, if you send cryptocurrency to a third party, you cannot reverse it or stop payment. When you send cryptocurrency to a blockchain address, you must be certain of the legitimacy of any involved third party services and merchants, and only send cryptocurrency to entities you trust.
COINUMM strongly suggests against communicating/interacting with the representatives of these companies, submitting any personal data or sharing the bank account details. Such actions may result in a permanent loss of the funds, and may compromise the personal details. The list of entities is specified below:
- Top Trade Group
- Cryptohold.am; Cryptohold Society; Cryptohold
- Universal Markets - www.universemarkets.com
- PlusOption - https://plusoption.co/
- StokTradeInvest - https://stokoptions.com/
- Novarris - https://novarris.com/
- Tarenes - https://tarenes.com/
- Tigersfm - https://www.tigersfm.com/
- Radiant Group - https://thegradiantgroup.com/
When you make an exchange Coinumm OÜ and UAB Coinumm recommends you to follow for the following precautions:
- Never transfer money to unfamiliar people.
- If a friend of yours is asking you to transfer money onto a certain account, by contacting you in Telegram, WhatsApp, Skype or any other messaging system that does not allow you to confirm their identity, please сontact him/her over the phone (by voice) to make sure nobody else is acting on your friend’s behalf.
- Be very attentive while specifying the wallet number. Once you have made a mistake, you will not be able to revoke/return the transaction. Use a wallet that only you have access to it.
- Coinumm strongly recommends using wallets with a high level of user trust, for example:
Electrum, Trezor, Ledger, Blockchain, Trust Wallet, BitGo, KeepKey, etc.
It is also recommended to enable additional security measures to your wallet such as two-factor authentication (2FA) or multi-factor authentication (MFA).
- Please note that the only way to pay the order is to do it through our website. We never send our customers any payment directions via email, Telegram, WhatsApp, Skype or any other messaging system, we never dictate them over the phone. If you think we sent you any payment details using the way other than our website, do not use the payment details.
- If you never submitted a transaction request on our website, don’t pay.
- Never use payments cards which belongs to someone else to make exchanges in our system. Otherwise you may be accused of money laundering and be sentenced to a long- term imprisonment.
- Coinumm strongly suggests against communicating/interacting with the representatives of non licensed trading companies, submitting any personal data or sharing the bank account details. Such actions may result in a permanent loss of the funds, and may compromise the personal details.
- Exchange platform Coinumm.com provides exclusively cryptocurrency exchange services and neither provide services for virtual currency storage nor store client’s funds (personal wallet must be provided by the customer at order creation moment). Coinumm never calls or contact its customers to offer any types of investment/brokerage services or financial advice services.