Questions & Answers
What is the best way to recover money from a cryptocurrency exchange scam?
What is the best way to recover money from a cryptocurrency exchange scam?
The platform I'm using to trade cryptocurrency is based in Singapore but operated by Chinese people. I have invested 150k AED into it, coming all from my credit cards.
When I wanted to withdraw money, the customer service said that I need to pay taxes on the profit amount. After paying taxes to them, they are now saying the financial intelligence department found that my account is abnormal and suspected of money laundering due to recent frequent trades and excessive txn volume.
They want me to deposit 20% of my account amt (10k USD) within a week to prove that I didn't launder money, or it will be frozen and will report me to the FI dept.
Can you please advise if this is legal according to the laws and regulations of Singapore?
I don't have money anymore to pay them and I think it's just a scam. The platform recently had the system upgraded and changed; no license, no t&cs, no physical address, no phone number. Shall I report to the police now?
Dear Client,
Good day!
By reviewing the details of your brief, it seems to be a fraud matter or cybercrime matter as we can put here the amount you have invested.
We would strongly advise you not to invest any more money than what you have already invested and we will file a cybercrime case here in Dubai.
And then we will contact Interpol because I am sure there are many people they are defrauding, you are not alone. It is a possibility.
We will file for Interpol if you have more than a person. It would be much better. However, if you are alone, we can file for Interpol afterward.
Please come to our office and provide us all the documents so we can proceed further in getting your money back.
For further assistance, please feel free to contact us via phone or email.
Thank you!
