March 2023 Update: Grand Capital CG is probably linked to the Coin-Royal crypto scam.
Grand Capital CG (Consulting Group) claims to be a trading platform offering users access to more than 1,200 financial instruments, including crypto, Forex, CFDs, ETFs and shares.
However, users say they’ve been scammed by this site after depositing funds, with the scammers demanding payments to release their money which then never arrives.
One scam victim who contacted me had lost £3,700 GBP after the scammers told them to convert it into crypto via Binance before transferring it to their account on the fake trading platform.
When he decided to withdraw his money, including the alleged profit he’d made, he was told that an additional payment was need “to mirror the transaction and transfer the money back”.
This was clearly part of the scam and follows a similar pattern to other crypto scams whereby the perpetrators demand ‘commissions’ or ‘analyst’s fees’ to release money.
They have no intention of doing so, it’s simply a way of exploiting the victim further and extracting as much money/crypto out of them as possible.
What makes Grand Capital CG a scam platform?
There are numerous red flags about the Grand Capital Consulting Group website which give it away as a scam.
They include:
- The domain name was just a couple of months old at the time of writing.
- Grand Capital CG claims to be part of a company called FutureArcPro Limited based in the Grenadines, but no such company exists at the address listed.
- Also, Grand Capital itself lists an address in Switzerland on the website, but there is no record of a company of that name at the address listed.
- The supposed WhatsApp and Telegram accounts listed on the website do not exist, and the links loop back to the homepage.
- There is no information about the team or the company aside from some generic wording that looks like it has been scraped from another website.
- Other content on the site is poorly written with numerous grammatical errors – always a tell-tale sign of a scam site.
- It claims to have more than 380,000 account holders, yet it is only two months old. This is very unlikely.
- The favicon has not been customised – something a professional, legitimate company would always do.
- There are no social media channels associated with Grand Capital CG – another sure-fire way to tell it’s a scam site.
- The scammers have left some of the wording from the original WordPress theme template on the site, which bears no relevance to the supposed business.
I’ve been scammed – can I get my money back from Grand Capital CG?
Unfortunately, it’s highly unlikely that you’ll be able to get your money back from the scammers as they tend to close down sites quickly, disappear then relaunch new websites that appear completely different.
Also, they’re often located in various countries around the world and use numerous methods to conceal their identity.
As crypto is still largely unregulated, there’s very little the authorities can do to assist you, but it’s still worth reporting the scam on the off chance.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.