Recently, there have been a number of scammers posing as well-known forex exchanges as well as cryptocurrency exchanges.

Previously, an investor was scammed by a fake forex trading platform claiming to be GrayScale https://www.fxgecko.com/en_US/complaint/10125.html;

Recently, an investor was scammed by a fake HFM (HF Markets) trading platform. https://www.fxgecko.com/en_US/complaint/10132.html

Their schemes are all similar:

1. Unrealistically high returns to lure investors to deposit, trading, such as fake GrayScale fraud victims, their accounts in just a few days earned 340,000 U.S. dollars, by the fake HFM fraud victims, their account funds are also quickly reached more than 220,000 U.S. dollars. Of course, these "gains" are just data fabricated by the fraudsters, is the fraudster's "bait".

2. When investors want to withdraw money, the fraudsters will begin to refuse for various reasons, and want the investor to pay the fee, such as fake GrayScale asked to pay another 10% withdrawal fee, fake HFM first asked to pay 10,000USDT green withdrawal channel fee, and then say that the investor's account is abnormal, and want to pay 4,200USDT in order to unfreeze the account.

3. In the end, the victim pays all kinds of fees, but still can't withdraw the money, while the scammer disappears and the fake trading website can't be accessed.

As can be seen from the above, in this type of investment scam, the victims are lured by "high returns" and keep investing "small amounts of money" in order to withdraw "large amounts of money".

But the goal of the fraudster is precisely the real money invested by the victim, and when the victim finds out that something is wrong, the fraudster immediately escapes.

Reminder 1: The trading market is full of uncertainty, do not blindly pursue high returns. And always be cautious when you come across investment opportunities that promise high returns with little or no risk. These are likely to be scams.

Reminder 2: Don't trust individuals or organisations who claim to be able to get your money back - they may be selling hope and scamming you again. This is especially true if they ask you to pay in advance, which is a "recovery scam".

If you've been scammed, your best option is to gather evidence and report it to your local police and law enforcement as soon as possible.

In the meantime, you can also file a complaint on the FxGecko website or app, where staff will further expose the scam to alert others not to be scammed.

You can check the regulatory licenses, security scores, customer complaints and other information about global trading platforms at FxGecko to avoid any potential scams.

Click here to recognize common investment trading scams to avoid being scammed.

Click here to see how to check if a broker is safe and what to do if you encounter a scam broker.