Scam Name: Paragon Markets Investment Fraud

Calculated Amount Lost: $134,922.00 USD
Scam URL: paragonmarkets.net

Victim Description:
The victim was contacted via LinkedIn by an individual posing as an investment broker named Keisha Clute, who claimed to offer expertise in cryptocurrency trading. The victim was persuaded to start trading on a platform called Paragon Markets, which the broker later claimed was acquired by a company called Markets Radar. The victim was promised substantial returns on their investment if they continued trading over the course of a year.

Trusting the broker’s advice, the victim continued investing money into the platform. However, after some time, they were hit with an unexpected “withdrawal fund fee” when trying to access their earnings. Despite dedicating significant time and effort to achieving financial independence, the victim was unable to retrieve their funds. Keisha subsequently deactivated her LinkedIn account, and the victim still has the phone number used for contact.

Scam Tactics:
The scammer used LinkedIn to establish trust with the victim, posing as a legitimate investment broker with expertise in cryptocurrency.
The victim was introduced to Paragon Markets, a fake trading platform, and later misled to believe it had been acquired by a new entity, Markets Radar, in order to further legitimize the operation.
The scammer promised significant returns on investments, convincing the victim to commit large sums of money under the belief that they would receive an “exorbitant” payout after a year.
Once the victim attempted to withdraw funds, they were confronted with withdrawal fees and other hidden charges, preventing them from accessing their money.
After the victim became suspicious and sought help, the broker, Keisha, deactivated her LinkedIn account, signaling the end of the scam.

Wallet Addresses Involved in the Scam:

1. 17oMyLxpaxCaYWcEEoHqbrcQKUQ4Hqs1Mb
2. 1GranReus7yY4UaB6M3AC5uUgejYJwy9PQ
3. 1Myrg3EQiZyGb73puRLtPTapuzMQgpTsfx
4. bc1qdunmqz74jxhvgh3vrullzt8s7ewx9xfvxekaw7
5. bc1qgetf64d3l4wexy36g6hs7y6pmk89rvaylpc2kt
6. bc1qx6lqees775qxhcyhwk7gynkv7m3sc462smk258
7. bc1qzpzkcn3jvxww8dv6vwj96pda6w8esj7xynhwds
8. bc1qv0hnrlcdxhlyt4gn35zcnp5v804er26y5ywsvm

Scam Overview:
The scam targeted the victim through LinkedIn by creating a false narrative around cryptocurrency investments. The victim was introduced to Paragon Markets, a fake trading platform, and encouraged to invest large sums of money with promises of large returns after one year. After making the investment, the victim was blocked from withdrawing funds due to unjustified withdrawal fees, which is a common tactic in investment fraud. When the victim attempted to contact the broker for help, Keisha Clute deactivated her LinkedIn account, leaving the victim without recourse.

Domain Information:
Domain Name: paragonmarkets.net
Registrar: NameCheap, Inc.
Registered On: May 4, 2021
Expires On: May 4, 2025
Updated On: March 19, 2024
Status: clientHold, clientTransferProhibited
Name Servers:dns1.namecheaphosting.com
dns2.namecheaphosting.com

Recommendations:

Report the Scam:
The victim should report the incident to the FBI’s Internet Crime Complaint Center (IC3) or another appropriate law enforcement agency. Additionally, it may help to alert the platform involved and cryptocurrency-related organizations to raise awareness of this scam.
Track the Wallet Addresses:
The victim can use blockchain explorers such as Etherscan to trace the wallet addresses provided. This can help track the movement of stolen funds, identify other victims, or potentially trace the scammers.
Seek Professional Assistance:
Since the scam involved cryptocurrency, the victim may want to reach out to professional services specializing in the recovery of digital assets. These services can provide guidance and possibly help recover the lost funds.
Educate on Crypto Security:
The victim should continue to educate themselves about the common types of scams within the cryptocurrency industry. Becoming familiar with how cryptocurrency transactions work, as well as common scams like Ponzi schemes and fraudulent brokers, can help prevent future incidents.
Consider Financial and Legal Support:
The victim might also benefit from consulting with legal professionals specializing in financial fraud or consumer protection, as they may offer further avenues for pursuing recovery or compensation.

Conclusion:
The victim lost $134,922.00 USD through a fraudulent investment scheme involving a fake cryptocurrency platform called Paragon Markets. The scam was carried out through a LinkedIn contact, Keisha Clute, who misled the victim into believing they could earn significant returns. After the victim attempted to withdraw funds, they encountered fees and eventually lost all contact with the broker. Immediate steps should be taken to report the scam and trace the funds, as well as to prevent future scams through increased education on cryptocurrency security.