Why Are So Many Online Trading Brands Being Exposed as Scammers Recently?

It seems like the crooks of the virtual sphere are raising their heads lately, with cybercrime reaching all-time highs in 2020. This is naturally a result of a whole lot of trading being done online these days, but also of the inability to enforce the law on these virtual criminals. However, on the brighter side, these crooks are also being exposed on a much larger scale.

Bigger, bolder, braver

With cybercrimes reaching such a scale, it is only natural that we hear about it a lot more these days. However, it’s not only about the numbers and frequency, but also about characteristics. Sadly, the scammers are getting more sophisticated and less afraid, and constantly reinventing ways to snatch your funds from you.

For example, a new tactic that has recently surfaced is brokers who refuse to let investors withdraw money from their accounts, citing that a form has not been filled out correctly, or some similar excuse. Needless to say, you’ll never really be able to fill out the form in a satisfactory manner – and there won’t be anyone to talk to, in order to get assistance.

Speak out, be heard

This phenomenon also has a positive explanation to it. Victims to cybercrime are not afraid to share their stories anymore. The internet has made it easier to spread the word and warn against the cons and most importantly, barriers of shame have been broken.

Don’t be afraid to tell your story. You’re not in the wrong.
Source: https://pixabay.com/photos/secret-lips-woman-female-girl-2725302/

It’s hard to believe, but internet scams were once considered something you just don’t talk about. This mainly had to do with victims feeling that the situation was partly their fault – that they did something wrong and should have been more careful. Luckily, these days are gone, and victims now have the courage to talk about it. The internet has played an important role here, with its many forums and websites dedicated to stopping cybercrime. The crooks can’t hide anymore.

Oh, you’re a licensed broker?

Many online trading brokers today boast the fact that they are supervised, regulated and licensed. This means that there’s an institutional body which supposedly oversees their actions and grants them a permit to operate. Don’t be fooled, though, since this is far from a guarantee of any form of decency. It does give victims a place to turn to in order to expose misdoings.

What is the lesson to be learned here? First of all, never trust a broker which is not licensed, that’s for sure. Keep in mind, though, that these licensing bodies are not necessarily effective. Some of them are very lax when it comes to regulation. If you really want to get an impression of how trustworthy a broker is, read reviews and ask around.

Enter cryptocurrency

The crypto market became increasingly popular in 2020, in accordance with other markets becoming less attractive to traders. There’s no need to reiterate the phenomenal success of Bitcoin over the past few months, which has led to a wave of new traders, interested in buying and selling it and other Altcoins.

A lot more than just Bitcoin.
Source: https://pixabay.com/photos/coin-currency-ethereum-ether-5511355/

However, new markets also means new methods for the scammers to steal your money. With a bloom in crypto trade, came a bloom in crypto scams. For example, a common fraud being reported lately is when brokers try to convince investors to put their money on some new crypto coin (which sometimes doesn’t even exist). Needless to say, they disappear with the funds before the victim even realizes they’ve been conned.

However, the bloom in crypto scams has, in turn, led to the establishment of companies, offering services of recovering scammed Bitcoin. These people know not only to track down the cons and expose their wicked deeds, but also to bring them to justice and retrieve lost funds. That’s why you hear a lot more about crypto scams these days – there’s someone out there working hard to expose them.

Exposing the crooks just isn’t enough

If you have fallen victim to an online trading scam, don’t just settle for exposing the crooks. It is very important to warn others, but it’s not enough. We can help you in the process of retrieving your money. We’ve been doing it for years now, with over 550 satisfied customers in our record already. It’s never too late to start the process, but you shouldn’t wait too long with it either, since getting an early start raises the chance of a larger reimbursement. Don’t wait, talk to us.

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