Tradingexpo is a scam trading platform which claims to offer brokerage functions across a range of assets, including crypto, Forex and CFDs.
However, it’s actually a fake platform which doesn’t offer any of these services and is designed to steal your cash and crypto.
The scammers pose as crypto brokers who encourage would-be investors to send them cash to invest in Bitcoin and other coins on their behalf.
Initially it appears that the ‘investments’ have made a significant profit, but when the victim comes to make a withdrawal, they’ll find they can’t access their funds.
Scam ‘broker’ demanded proof of wealth
The person who contacted PawProfitForum Team about the Tradingexpo crypto scam had unfortunately already lost a significant sum of money.
But they were on the verge of handing over another large chunk of cash after a scammer told them the only way to get their profits was to transfer £5,000 ($6,200) to a crypto account assigned by them.
This was the email they received (some details have been redacted to protect the person’s privacy):
“We have received a withdrawal request under your name.
Since it is your first-time withdrawing we are kindly asking that you meet the requirements below.
The liquidity check is a procedure applied to prevent possible financial fraud.
Checking liquid funds in a bank account serves as a guarantee that :
1)Trading is not the recipient’s only source of income.
2)The recipient has a legal source of income, therefore, is a taxpayer.
3) The recipient’s bank account has not been used for money laundering or financing illegal activities.
The need of checking liquidity occurs due to an increased number of financial fraud cases related to activities on the financial market such as money laundering, financing the black market, and illegal activities.
Within the aforementioned procedure, a client has to prove that the recipient’s bank has a liquid balance worth £5,000.00
The liquidity of a balance is proved by moving the balance between the client’s bank account and the Crypto exchange.
Liquidity Amount £5,000.00
Kindly note that if the profits are made from crypto trading the liquidity has to be moved between the client’s bank and crypto bank account.
Kindly note that the profits generated on the financial market are to be enrolled in a bank account with an existing and verified liquid balance in it.
P.S. Above mentioned procedure does not serve as a payment.
For further questions, do not hesitate to reply to us back
Regards,
TradingCenter”
The entire contents of this email is nonsense and would never be a requirement of withdrawing funds from a crypto account, or any other kind of brokerage account.
Tradingexpo scam platform giveaways
There are lots of things wrong with Tradingexpo, aside from this email.
An examination of the website reveals:
- The domain name is very new and registered for a short duration.
- The content is generic and at times doesn’t make sense.
- There are no proper contact details, aside from a single email address.
- There are no details about the company, the team or any registrations.
- There are no social media channels connected to the site, or official apps.
- A Google search reveals several reports of people being scammed by Tradingexpo.
- No legitimate crypto or trading platform would send out the email above.
Do not send any money to the platform or a crypto account that you don’t have control of no matter what a ‘broker’ tells you.
Can I get my money back from the Tradingexpo scam?
Unfortunately, the scammers are very good at hiding their identities and it’s difficult to track down your lost crypto.
There are private companies that might be able to help which I’ve written about here.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.