URL of Scam: innovate-trader.co

Type of Scam: Fake Cryptocurrency Trading Platform
Amount Lost: $28,207 USD

Victim Description:
The victim lost $28,207 USD in a cryptocurrency scam related to the fake trading platform Innovate Trader. The scammer likely encouraged the victim to invest in cryptocurrency, resulting in a significant loss after the victim attempted to withdraw funds.

Scam Domain Details:

Domain Name: innovate-trader.co
Registrar: Dynadot Inc
Registered On: May 15, 2024
Expires On: May 15, 2025
Updated On: November 27, 2024
Status:clientTransferProhibited
Name Servers:cdns2.main-hosting.eu
cdns1.main-hosting.eu

Domain Status:
The domain innovate-trader.co was recently registered in May 2024, indicating the scam is still active. The clientTransferProhibited status prevents the domain from being easily transferred or seized, which is typical of scams trying to evade detection and shutdown.

Open-Source Intelligence Analysis: Key Details of innovate-trader.co Scam

Scam Overview:
The victim lost $28,207 USD through Innovate Trader, a fraudulent cryptocurrency trading platform. The scammers likely manipulated the victim to deposit funds, promising high returns. After the victim tried to withdraw the funds, the scammers likely blocked access to the account or made further demands for money, a typical tactic used to extract additional funds from victims.

The domain’s clientTransferProhibited status indicates the scammers are actively trying to prevent the domain from being transferred or taken down.

Domain Status:
The domain innovate-trader.co was registered in May 2024 and is still in operation, with the clientTransferProhibited status in place, making it resistant to transfer. This status typically indicates that the scammers are actively controlling the domain and trying to keep it under their ownership to continue scamming victims.

Recommendations:
Report the Scam: The victim should report the scam to local law enforcement, the IC3 (Internet Crime Complaint Center), and CryptoScamDB to help stop the scam network and prevent other victims from being affected.

Track Cryptocurrency Transactions: The victim can use blockchain explorers to trace the cryptocurrency transactions sent to the scammer’s wallet address. This might help identify where the funds were sent or potentially lead to a network of scammers.

Legal Consultation: It is advisable for the victim to consult with a legal professional specializing in cryptocurrency fraud to explore the possibility of recovering the lost funds.
Stop Communication with the Scammer: The victim should immediately cease all contact with the scammer to prevent further manipulation.

Monitor Financial Accounts: The victim should notify their financial institutions, particularly if their bank accounts or crypto wallets were involved, to alert them to fraudulent activity.

Conclusion:
The victim lost $28,207 USD through the fraudulent trading platform innovate-trader.co, where the scammers manipulated them into depositing significant funds with the promise of high returns. The domain is newly registered, with the clientTransferProhibited status, suggesting it is still active and being protected by the scammers to avoid detection. Immediate action should be taken to report the scam and attempt to recover the funds.