Grow FX Market Trading is part of a crypto scam linked to Financial Heritage Bank, and other websites, that is tricking people into depositing cash with the promise of huge returns on their investment.
The person who contact me about this scam had lost in excess of £150,000 ($185,000) and had exhausted all their savings and even sold their car to try to claw back their money.
The scammers had contacted the victim out of the blue and befriended them before introducing them to a so-called ‘sure fire’ way of making huge profits in a short space of time by investing in cryptocurrency through Grow FX Market Trading.
The platform purports to be “the most secure crypto asset trading platform”, yet appears to be a cookie cutter website thrown together with scraped content.
Fake profits quickly appeared in trading account
When the victim started investing her account quickly showed a profit, but when she came to invest, the scammers demanded a range of fees in order for her to get her money back.
These included £30,000 to convert the currency from US dollars to GBP, insurance for the transfer and a ‘Government tax’. Of course, all these are fake and are typical of what’s known as a pig butchering crypto scam.
A quick Google search for Grow FX Market Trading and Financial Heritage Bank returns very little information which is a clear indicator that they’re scam sites, especially as they are making bold claims about their financial pedigree.
I decided to dig a little deeper to find out more about these platforms to determine if they are definitely scam crypto sites.
How to tell Grow FX Market Trading is a scam site
It didn’t take long for me to confirm that Grow FX Market Trading is a scam site designed to defraud people out of their crypto.
There are several red flags which give the scam away. They include:
- The website is poorly put together and clearly some of the images are scraped from other websites.
- The platform claims to have tens of thousands of users across the world, yet there’s virtually no trace of it online.
- The domain name is very new, again suggesting its user base claims are false.
- The company address that it lists varies from page to page. The UK one is an anonymous mail drop building in central London.
- There are no social media channels connected to the site.
- Staff photos are clearly a mix of images scraped from corporate websites, and shots of models, probably taken from fashion websites.
- There is very little information about what service the platform actual offers, aside from some generic text about Bitcoin.
- It randomly lists the number of Bitcoin ATMs it operates, yet at no point is this mentioned as part of the business model.
Can I get my money back from Grow FX Market Trading?
The scammers go to great pains to avoid detection, although police forces around the globe have had some success in catching the fraudsters.
If you’ve been scammed, report it the authorities in your country, ensuring you can give as much detail as possible about what’s happened to you.
There are companies who specialise in helping crypto victims. You can read more about crypto recovery experts here.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.