I’m really sorry to hear about your experience, Pushpa. Thank you for sharing your situation. Losing such a significant amount in a scam can be extremely difficult, but there may still be steps you can take.

To get started, I recommend:

1. Reporting the incident to local authorities as soon as possible.
2. Document all evidence of the scam, including any communication, transactions, and account details.
3. Tracing the cryptocurrency: We can help investigate the wallet address involved in the scam and work with authorities to track the movement of funds.

Feel free to reach out if you’d like assistance with the next steps in tracing your lost funds.

On September 24, 2024, we received a complaint that outlined a detailed account of an investment scam orchestrated by Truvecta, a trading platform. The victim lost €15,000, alleging that Truvecta systematically manipulated their trading account to prevent them from withdrawing funds and caused significant financial losses through dishonest practices. Key points of the complaint include:

1. Refusal to Process Withdrawals: Despite multiple requests to withdraw funds, the platform did not comply, falsely claiming the system was automated.
2. Manipulation of Opening Rates: The victim reports that Truvecta altered the opening rates of trades, directly impacting their profits and losses. This manipulation resulted in more significant losses and smaller profits, violating standard trading practices.
3. False Claims about Swaps: Truvecta allegedly claimed that the rate changes were due to swaps, but the victim asserts this is untrue, as swaps do not affect opening rates.
4. Significant Losses Due to Rate Changes: The manipulation of rates led to substantial losses for the victim, including €243 in one weekend, with suspicions that similar alterations had occurred before.
5. Delayed Withdrawals Leading to Further Losses: After accumulating a balance of €31,000, the victim attempted to withdraw €11,000 but was advised to wait until after the “Earning Season.” This delay resulted in massive losses amounting to €28,000, which the victim believes was deliberately engineered to avoid repayment.
6. Steep Financial Losses through Swaps and Rate Changes: On September 18, 2024, the victim calculated an additional loss of €710 due to Truvecta’s manipulation of opening rates and improper swaps. They noted that Truvecta applied swaps on ETHUSD trades, which should not incur swaps as it is a 24/7 trading pair.
7. Continued Manipulation: On September 19, 2024, the victim experienced further financial harm, losing €495 in one day due to Truvecta altering five opening rates and applying unnecessary swaps.

This case highlights Truvecta’s consistent use of deceptive practices, including manipulating trading data, refusing withdrawal requests, and applying invalid swap charges, leading to significant financial losses for the victim.

On September 2, 2024, we started working on a case involving Nintendo-us.com. The victim was scammed for almost $40,000 after being lured into a fraudulent investment scheme. The scam involved depositing cryptocurrency, primarily Bitcoin, with the promise of high returns through transactions on the platform. After the funds were deposited, the victim could not withdraw any money, and the site’s operators continued to demand additional payments to “unlock” the account. The victim suffered significant financial losses despite multiple attempts to recover the funds. Our investigation uncovered numerous red flags, including untraceable cryptocurrency addresses and suspicious domain activity, further confirming that Nintendo-us.com is operating as part of a sophisticated scam.

Hi Arrold,

We’re really sorry to hear that 43 Pi was stolen from your wallet. It’s incredibly frustrating to fall victim to these scams. Unfortunately, it’s nearly impossible to reverse once a cryptocurrency transaction is completed. However, there are some steps you can take:

1. Report the Incident: Report this theft to Pi Network’s support team. They may not be able to recover your coins, but they could take action against the scammer’s account and help prevent others from being scammed.
2. Trace the Transaction: You could consider using a cryptocurrency tracing service to see where your stolen Pi has gone. While this might not result in recovering your coins, it could provide valuable information if you decide to pursue legal action.
3. Strengthen Security: It’s essential to change your passphrases immediately and review your security settings. Ensure you’re using all available security measures, like two-factor authentication, to protect your account in the future.

Your story is a valuable reminder to the community about staying vigilant. Feel free to reach out if you need more assistance or have any further details to share.

Best regards,
Adam
ScamCrypto Team