In the summer of 2022, Hoo.com, a Hong Kong-based crypto exchange, halted withdrawals, trapping users’ funds. One victim attempted to withdraw $52,000 in USDT/USDC but could only recover $26,000 by buying and selling low-value coins, resulting in significant losses. The exchange has since ceased operations, and the app no longer works.

If they scammed you, share your story to help others and explore recovery options.

Stay vigilant and report scams to raise awareness!

Hoo.com Review

The Department of Financial Protection and Innovation (DFPI) has a Crypto Scam Tracker that includes consumer complaints against Hoo.com, also known as HOO Tech Ltd.

According to a complaint in the tracker, a California victim deposited money into a digital wallet on Hoo.com, believing they had $10,000 in their account. Hoo.com then claimed it would convert the money into its token, “HUSDT,” rendering the account valueless. The website and the wallet are now non-functional.

Complaint Details:

• Complaint Narrative: “A California Victim opened a digital wallet on HOO.com and deposited money. At some point, he believed he had $10,000 in his account. Then, HOO.com claimed it would change his money into their token, ‘HUSDT.’ The victim says this rendered his account valueless. Now neither his wallet nor the HOO website are functioning.”
• Scam Type: Fraudulent Trading Platform
• Website: https://hoo.com

Key Points:

• It has been reported for fraudulent activities, specifically changing deposited funds into a valueless token without the victim’s consent.
• The website and digital wallets associated are no longer operational, preventing victims from accessing their funds.

Quote from DFPI:

The scams in this tracker are based on consumer complaints. They represent descriptions of losses incurred in transactions that complainants have identified as part of a fraudulent or deceptive operation.

Bottom Line

In light of the experiences shared by multiple users, it is evident that Hoo.com has engaged in deceptive practices that have led to significant financial losses for many. The inability to withdraw funds and convert assets into valueless tokens without consent highlights a pattern of fraudulent behavior. While some may still hold hope for recovery, the website’s and associated wallets’ current non-functionality suggests otherwise. It’s crucial for individuals to exercise extreme caution and thoroughly research any platform before investing. If you have been affected, sharing your story can aid collective action and help others avoid similar pitfalls. The evidence strongly indicates that Hoo.com is a scam, and potential investors should steer clear to protect their assets.

If you were scammed, please share your story to help others and explore possible recovery options. Stay vigilant and report scams to raise awareness!