We have received a report where a victim recently lost a staggering $601,298 to a fraudulent trading scheme on the website Worlotc.com, a platform promising high returns on cryptocurrency investments. The victim initially hoped for significant profits but soon became aware of the scam when attempting to withdraw their funds.

The Red Flag
The victim had requested a $800,000 withdrawal, only to be told by the scammers that they were about 57,000th in the queue, with only 35 requests processed daily. This meant that it would take nearly 6 years before their withdrawal could be processed. This unbelievable delay caused the victim to realize that they had been duped into a scam, and their funds were likely never going to be returned.

Despite the mounting frustration, the victim had already sent substantial sums of cryptocurrency to the scammers over several weeks, totaling $601,298.

Transaction Details
The following are the cryptocurrency transactions made by the victim to the scammers’ wallet:

July 17, 2024: 0.45533 BTC to address 3KhCZKPRJbEDVLzPGi9D6h7eVybwu61UfB
July 19, 2024: 0.73936 BTC, July 25, 2024: 0.22952 BTC, July 30, 2024: 0.4479 BTC, July 31, 2024: 1.527 BTC, August 3, 2024: 0.37014 BTC, August 9, 2024: 3.24622 BTC, August 12, 2024: 0.67046 BTC, August 21, 2024: 1.58773 BTC, August 23, 2024: 0.3685 BTC all these to address 3LKUCL9GF63YAFHBizVQ4EjvWLd5iQavfJ

These transactions, totaling approximately 8.51408 BTC, were all sent to the two wallet addresses, further confirming that the website and its operators were running a scam.

Domain Information
The website Worlotc.com was registered on April 9, 2024, and is set to expire on April 9, 2025. The domain is currently under clientDeleteProhibited, clientRenewProhibited, clientTransferProhibited, and clientUpdateProhibited statuses, which are typically applied to fraudulent websites to prevent the domain from being transferred or updated easily. The registrar for the website is GoDaddy.com, LLC, and the name servers are dolly.ns.cloudflare.com and ivan.ns.cloudflare.com, both associated with Cloudflare.

These domain details raise further suspicions, as these protections are commonly used by scammers to prevent easy tracking and investigation.

Conclusion
The victim’s unfortunate experience highlights the growing danger of online cryptocurrency trading scams. What began as a seemingly promising investment turned into a nightmare, with the victim losing $601,298. The withdrawal delay and the fraudulent trading platform’s behavior were clear signs that the website was not legitimate.

For anyone considering investing in cryptocurrency, it is critical to conduct thorough research and remain cautious about unsolicited offers, especially from platforms with no established reputation. Scams like these are becoming more sophisticated, but with vigilance and awareness, it is possible to avoid falling victim to such schemes.