Scammed by BTCADA Global Limited

Chantelle_C

Newbie
May 27, 2021
2
0
1
32
Hi all, I have been scammed by BTCADA Global Limited, I wanted to withdraw my deposit and they told me I have to 40.4% as tax!

Here it the full story.

I met a guy on Facebook who told me about Gold Spot trading, he first told me to invest 1k-5k USD and would be able to make a small profit, which I eventually did. He told me to download the apps MT5, Binance, Coinbase, Bitcoin.com and proceeded to guide me how to fund my accounts in the official apps Coinbase and Bitcoin.com (couldn’t use Binance). Once I’ve funded into these apps, he would tell me to talk to “customer server” from BTCADA Global limited who I would need to ask them for an address to send the money to, I would then send the money from Coinbase/Bitcoin to the address provided then my account in MT5 would be funded. Now I’ve signed up with an official broker (fbmarkets), I realised this funding method is very suspicious, shame I only know now.

Transactions below -

20th May 1:20pm – Coinbase (bought ETH 989.22 CHF, sent 1’028.47 CHF to broker)

23rd May 7:33pm – Coinbase (bought ETH 618.02 CHF, sent 589.64 CHF to broker)

23rd May 7:49pm – Bitcoin.com (bought BTC 3’719.29 CHF, sent 3’624.02 CHF to broker)

26th May 2:27pm – Bitcoin.com (bought 9’270.99 CHF, sent 9’243.07 CHF to broker)

Total bought 14’597.52 CHF (excluding fees), sent 14’485.20 CHF = 16’141.32 USD

We started trading together, he guided me when to buy/sell etc and I started to make profit, he then insisted I should top up more as there will be a good market yesterday in which I’ve topped up (as per last transaction). I started feeling something was off with this guy, I asked him for facetime which he did, but he had a mask on and only showing small parts of his face, I was still able to see he was not the guy in the photo. I started to panic, unfortunately, the 26th May Bitcoin transaction from was already being processed, to be sent to the brokers account and there was not an option to cancel it while it was in the “review” stages. I googled the broker BTCADA Global Limited and this is where I found a few articles stating this company was a scam, where another had had been scammed 75k USD. I stopped trading using the broker’s account now, as of today, it still has 26k USD balance.

I messaged the broker’s customer service last night, I kept chasing them to send my balance from MT5 to Bitcoin.com, they did reply in the end, they said I had to pay 40.4% of my total balance for Swiss personal tax income, which is total crap! I asked the guy from facebook and he said this is normal, he also had to pay this but it’s a one-time fee, here I was thinking to myself “I have definitely been scammed!”, there is no way you can pay tax once and the rest of the withdrawals are free. So here I am today, 16k out of the pocket.

Does anyone what steps I should take to recover my funds or if it's even possible? Please help!
 

vicjon1995

Active Trader
Sep 29, 2020
218
30
29
27
This is why you should not trust some random guy you meet on the internet when it comes to money. Report them asap. But I don’t think you will be able to recover your money now.
 

Dora_WalletInvestor

Active Trader
Aug 17, 2020
286
43
44
Definitely report them if possible.
And I agree, it is not likely you can recover your money, unfortunately. And an important thing: if someone contacts you saying they can recover your lost money, don't believe them! There are many such scammers out there who ask scam victims for fees so that they can get you your money back - which then they don't do, they just rid you of even more money. Be very careful.
 

Jerry_Ken

Trader
Dec 11, 2020
57
5
9
32
I feel so sorry to hear that. Never fall for such messages. Such messages are so common in forex. I hope you are able to get some of your money atleast.