Scam Name: Asset Market Cryptocurrency Investment Scam

Calculated Amount Lost: $56,600 USD
Scam URL: assets-market.com

Victim Description:
The victim reports a loss of $56,600 USD through a fraudulent company called Asset Markets. Initially, the company scammed the victim and many others in the past, and later a new company emerged claiming to assist in recovering the lost funds. Unfortunately, this “recovery” service was itself another scam, complicating the situation further. The scammers have fabricated fake IRS documents, court documents, and other official-looking paperwork to mislead victims and create the illusion of legitimacy.

Scam Tactics:
Initial Scam (Asset Markets): The victim was initially scammed by Asset Markets, which likely posed as a legitimate investment opportunity in cryptocurrency. The platform promised high returns and convinced the victim to invest a significant sum of money. Once the victim deposited the funds, withdrawal restrictions were imposed, and the platform ceased communication, signaling a classic scam operation.

Recovery Scam: After the initial loss, a new company emerged, claiming to help victims recover their funds. However, this second company turned out to be another scam, using fraudulent documents like fabricated IRS and court papers to convince the victim and others that they were legitimate. The victim was further manipulated into investing more funds for the “recovery” of the previous losses.

Document Fabrication: The scammers used fake documents, including IRS tax forms and court orders, to mislead the victim into believing that they were involved in a legitimate legal and financial process, further increasing the victim’s trust in the fraudulent operation.

Wallet Address Involved in the Scam:

13114SQUmBvz3QMAzQFy2nUDBgT5Us4gsT

Scam Overview:
The victim was initially scammed by Asset Markets, a company that took advantage of people seeking cryptocurrency investment opportunities. After the loss, a new company appeared, promising to recover the lost funds. However, this recovery company turned out to be yet another scam, using fraudulent documents to manipulate the victim. The total loss from both scams amounted to $56,600 USD.

Domain Information:
Domain Name: assets-market.com
Registrar: Tucows Domains Inc.
Registration Date: October 27, 2024
Expiration Date: October 27, 2025
Updated On: November 13, 2024
Status: clientHold, clientTransferProhibited, clientUpdateProhibited
Name Servers:ns-cloud-b1.googledomains.com
ns-cloud-b2.googledomains.com
ns-cloud-b3.googledomains.com
ns-cloud-b4.googledomains.com

Recommendations:
Report the Scam:
The victim should immediately report the scam to law enforcement, regulatory bodies, or agencies such as the Federal Trade Commission (FTC) or the Internet Crime Complaint Center (IC3). Given the complexity of the scam and the involvement of fake legal documents, it is important to take action quickly.

Consult Legal Professionals:
Given the involvement of fabricated documents, it would be beneficial for the victim to consult with a lawyer who specializes in financial fraud or cryptocurrency scams. They may have resources or advice on legal actions to take against the perpetrators.

Track the Wallet Address:
The victim should use a blockchain explorer to track the movements of the funds sent to the provided wallet address. This may help identify if the funds have been sent to other accounts or converted, which could provide clues about the scammers’ operations.

Avoid Further Investment:
The victim should cease all interactions with the fraudulent recovery company and any other related scams. Investing more funds into these schemes is unlikely to result in recovery and could lead to further financial loss.

Public Awareness:
Sharing the details of the scam on websites dedicated to reporting scams, cryptocurrency forums, or social media platforms can help warn others and prevent further victims from falling prey to the same tactics.

Seek Cryptocurrency Recovery Experts:
The victim may consider contacting a professional cryptocurrency recovery service, though they should exercise caution to avoid falling into another scam. It is crucial to verify the legitimacy of these services before engaging with them.

Conclusion:
The victim lost $56,600 USD due to a scam by Asset Markets, which was later followed by a fraudulent recovery service. The scammers used fabricated legal documents to manipulate victims into believing they were involved in a legitimate process. The victim should report the scam to authorities, consult with legal professionals, and avoid further interactions with any related companies. Tracking the provided wallet address could also offer additional insights into the scammers’ operations.