Mxcointrade.com Scam  — How I Lost And Got Back My Stolen Cryptocurrency 

When I got scammed by Mxcointrade.com I asked myself countlessly, how does a careful and financially aware person like myself fall for such a scam.

In April I was invited to a cryptocurrency Investment group on Facebook. I always see stuff about Bitcoin and crypto on the news so I have always had an interest in learning how it worked so I accepted, the group had 4 admins but only David frequently posted screenshots of successful trades and gains made in the market.

Most of the time, we interacted only in the comments section. Eventually, he sent me a private message thanking me for engaging with the group posts. We also spoke about work and daily life.

Nothing about David’s interactions felt suspicious.

After about a month, He asked If was interested in crypto investment, I said yes so he introduced me to Mxcointrade.com. I didn’t know how to buy crypto so he directed me to make use of cash app and PayPal. We also made use a site called crypto.com to purchase and deal in crypto. We sent it all to Mxcointrade.com for the investment, he explained that they specialized in AI-assisted market analysis and arbitrage opportunities. So I could never lose my money.  He also shared screenshots of other investors who made use of them. Thats what really convinced me.

I deposited $300 initially just to see if it really worked  and in a week I had made $3,000. I became skeptical because thats such a short time to make so much money. So I asked David to initiate a withdrawal he did and asked I create an account on Coinbase for ease of recieving the funds. I did and In some hours I had $2,500 in my Coinbase wallet. 

I was so excited, I withdrew it all to make sure it was real and boom it hit my account, thats when David got me.

I decided to invest more so I took a loan of $30,000 from my family and put it all in Mxcointrade.com, In June I had made $400,000,

So I decided to withdraw $35,000 to pay back the money I borrowed and also give a little extra to appreciate my family.

Customer support informed me that my account required a fee of $5,000 before this withdrawal could be processed. Reluctantly, I took some money from my husband’s account and paid the requested fee. Shortly after, I received another notification stating that my account required another fee.

This made no sense how much fees could they possible request for. So I began making some research on Mxcointrade.com, I saw a lot of negative reviews on Reddit and Trustpilot. This made me confront David, as soon as I did he blocked me. 

Thats how I figured I had been scammed.

All my  profits shown on the platform were probably fake. I made more research but didn’t really find anything until I saw a chargeback feature in my bank I googled what it meant and saw that its how banks help trace and get back funds stolen from a bank account. I wondered if this could also work for crypto so I made more research and found out that Mastercard also offers such service via their platform CipherTrace - www.theciphertrace.com

I wasn't really expecting much, but I decided to submit a complaint. One of their investigators eventually reached out to me, he reviewed my case, the transaction history from my wallet and explained how funds are often moved through multiple addresses after a theft. 

For the first time since everything happened, I understood what had taken place. I provided all he asked for and with this they got all my money back.