H5.longzhi160 (fake JPMorgan trading); a certified scam
JP Morgan runs this cryptocurrency exchange but the trade pattern is very different. The investor can easily trade his currency within intervals of 2, 3, or 5 minutes. The profit margin increases dramatically with each time interval. For instance, if it is 10% in two minutes intervals, then it increases up to 15% within 5 minutes interval. This all seems very appealing with a higher range of profit but the problem arises when you have to withdraw it.
The website then asks to pay some fee and the tax ratio rises to 30%. Moreover, this tax is not deducted from the original payment. So you have to pay additional charges to cover the tax. The broker keeps charging for every withdrawal and the process becomes very complicated.
New cryptocurrency
Morgan Dollars or JPMCoin is used by these fraudsters. They use Chinese social media platforms for advertisement. They work on the principle of cryptocurrency mining with a lot of fraud brokers. This currency has grown increasingly popular and many people have been scammed.
Only for ‘members’.
To attract many people, investors have limited cryptocurrency selling and purchasing to customers only. This is a part of a scam to get attention and make the users join their network. Mentioning the currency for ‘members’ only rings a bell that it may be a scam.
What are the major signs of a scam to look for?
There are some common methods by which scammers operate. First of all, they force you to act immediately by luring you into offers. Keep in mind that no one offers you money from their side. If they constantly talk about big profits, it is a genuine red flag.
Secondly, they share a link in the email and you are asked to provide your personal information by filling in their form. This directs you to a fake website where they steal your money. The email is generally anonymous or they represent themselves as your bank representative or a brand.
Remember that you should not provide your personal information to anyone and the bank does not want your personal and financial information. If the tone is threatening, impulsive, or request or the email is misspelled, it is a scam.
What to do if you have faced a scam?
Assetsrepo can help you to recover if you fear that you have lost all your money. If you have paid using Bank cards then they can help to reverse the payment. But you require strong legal evidence from the bank and authorities. Keep safe any type of texts, emails, and invoices that you receive from scammers. These are your legal proofs against them.
But these websites are run by unknown regulators which means you can not hold anyone responsible for the loss. If you have traded using crypto, it sometimes becomes difficult to trace where the money went. We are 24/7 available for your assistance with cryptocurrency scams. You can have a personal legal advisor and documentation done from us. Contact us for our exclusive services.