We were prompted to write this warning after reviewing multiple complaints and analyzing the transactions related to a crypto trading platform called ETHC, accessible via the URL ethc.ai. Several users have reported significant financial losses after engaging with this platform, which claimed to offer lucrative cryptocurrency trading opportunities.

One victim reported losing £1450 after sending funds to the receiving address 12wGFv74wVnXxrW8q3jtripSxBDZT1g1tR. The promise of profitable trades quickly turned into a nightmare, as attempts to withdraw funds were met with demands for additional payments and, ultimately, the loss of access to their accounts.

Another report detailed an even more significant loss of $55,695.00, where the victim initially experienced successful transactions but later found their funds seized after being coerced into sending more money to cover supposed fees.

This receiving address, 12wGFv74wVnXxrW8q3jtripSxBDZT1g1tR, has been involved in several transactions indicating fraudulent activity. The address has a history of receiving and quickly sending out Bitcoin, with multiple transactions recorded within short timeframes, suggesting the rapid movement of funds typical in scams. The funds received at this address were promptly sent out in several smaller transactions, making it difficult for victims to trace and recover their assets.

For instance, on August 5th and 6th, 2024, the address received two significant payments totaling 0.01914503 BTC, equivalent to approximately $1,035.46 at the time. Almost immediately after receiving these funds, they were dispersed in smaller amounts, demonstrating a clear intent to obfuscate the trail of the stolen funds.

This pattern of behavior is a common tactic used by scammers to make it more challenging for victims and investigators to follow the money. The rapid dispersal of funds to multiple other addresses is a red flag that strongly suggests this address is being used as part of a scam operation.