The Financial Conduct Authority (FCA) issued a warning about LumineTrade, also known as Lumine Trade, which is a clone firm masquerading as an authorized representative. This scam has come to our attention due to numerous reports from unsuspecting victims who were lured into believing they were dealing with a legitimate financial entity.

LumineTrade operates under various names and websites, including:

• lumine-trd.com
• lumine-ltd.com
• luminetrade.com
• lumitrade.com
• luminetrd-ltd.com
• lumine-ltd.net
• lumitrade.net

The fraudsters behind this operation have meticulously copied the details of an authorized firm, CoinShares Capital Markets (UK) Limited, to create a facade of legitimacy. They have even gone as far as to use multiple addresses in London and a range of international telephone numbers to bolster their deceptive claims.

The scammers have employed a range of email addresses, some resembling legitimate business emails, to communicate with potential victims. These include leonard.r@lumine-trd.com and support@lumine-trd.com, among others. Mixing genuine details with fabricated ones creates a convincing but false narrative to trick individuals into parting with their money.

The genuine firm, CoinShares Capital Markets (UK) Limited, has no connection to this clone firm. The real CoinShares is located at the Scottish Provident Building, 3 Lombard Street, London, and is authorized by the FCA under Firm Reference Number 828561. Their legitimate contact details are vastly different from those used by the scammers.

Complaints We Received

Our review of LumineTrade stems from several complaints from individuals who have suffered financial losses while dealing with this fraudulent entity. One complaint highlights the deceptive practices employed by LumineTrade and underscores the need for caution when engaging with online trading platforms.

In this case, the complainant reported a loss of $2,500 after interacting with LumineTrade through their website, luminetrade.com. The individual initially deposited $2,000 into their Kraken account, a reputable cryptocurrency exchange, and transferred the funds to their Atomic Wallet. However, they were informed that the tokens they received were fake when attempting to withdraw the funds back to their Kraken account.

This troubling experience illustrates the tactics used by LumineTrade to exploit unsuspecting investors. The complainant was led to believe they were dealing with a legitimate trading company, only to discover that their funds had been compromised through counterfeit tokens. Such incidents result in significant financial losses and erode trust in the broader cryptocurrency market.

The details provided in this complaint reveal the sophisticated nature of LumineTrade’s scam operations. By imitating a genuine trading company and leveraging the complexities of cryptocurrency transactions, they successfully deceived the victim into transferring funds that were ultimately rendered worthless.

This complaint, among others, highlights the urgent need for increased awareness and scrutiny when dealing with online trading firms, especially those operating in the cryptocurrency space. It serves as a poignant reminder of the importance of verifying the legitimacy of any financial entity before making transactions to avoid falling prey to such fraudulent schemes.

LumineTrade Review Conclusion

Our thorough investigation into LumineTrade, operating under lumine-trd.com and other domains, reveals a clear pattern of fraudulent activity. The evidence gathered from detailed receiving address analyses, domain scrutiny, scam indicators, and user complaints paints a concerning picture. This firm has been meticulously impersonating a legitimate, FCA-authorized entity to deceive unsuspecting investors.

It is evident that LumineTrade is a scam.