Dear Community,

This detailed review focuses on LegitimateCryptoTrade, a platform found at LegitimateCryptoTrade.com, following a report of a significant loss by a user in Grand Blanc, Michigan. The user claims to have lost $1,500 in what seems to be a cryptocurrency scam.

Triggering Incident

– Initial Report: On January 6, 2023, the BBB received a report of a $1,500 loss to a cryptocurrency scam on legitimatecryptotrade.com. The scam involved persuasive tactics using Instagram contacts and direct messaging.

Overview of LegitimateCryptoTrade

– Domain Details: Registered on May 11, 2022, through PDR Ltd. d/b/a PublicDomainRegistry.com for a year by Franklyn Onoaghakpote in Benin City, Nigeria.
– Web Presence: Despite being active for over eight months, the website has not garnered significant popularity, reflected in a 0% Semrush authority score.

Claims and Offerings

– Platform’s Mission: Purports to simplify cryptocurrency trading, investing, and mining, supporting various digital currencies and over 100 tradable assets.
– Unique Features: Includes risk management tools, advanced security, and five trading options including 60 sec, Speed trading, 24 hrs, and Long term.

Red Flags and Dubious Claims

– Unrealistic Promises: Claims of significant returns on investments within a short period.
– Lack of Credible Information: No verifiable company details, such as LinkedIn profiles or registered addresses.
– Suspicious Contact Details: Provided addresses and contact numbers either fake or unverifiable.

Social Media Tactics

– Instagram Involvement: A user reported being contacted via Instagram with promises of high returns on Bitcoin mining.

Scam Reviews and Complaints

– Absence of Genuine Reviews: No reliable reviews found on major platforms like Google or TrustPilot.
– Similar Complaints: Reports of users being scammed with similar tactics as mentioned in the BBB report.

Related Scams

– Network of Scams: Investigation reveals a network of similar scam websites operated by the same group, including globallegaltrade.com, metroexpresstrades.com, and others.

Our Conclusion

– High Probability of Scam: Evidence strongly suggests that LegitimateCryptoTrade is a fraudulent platform, using deceptive tactics to lure investors.

Cautionary Advice

– Stay Vigilant: Exercise extreme caution with platforms promising high returns in short periods.
– Share Information: If you have any interactions with LegitimateCryptoTrade, please share your experiences to help others.

Stay informed and approach such platforms with skepticism to safeguard your investments.

Sincerely,
Sathish M