FXTM Reports & Reviews (1)
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SCAMPULSE
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SCAMPULSE
If you know any contact information for FXTM, help other victims by adding it!
Scammer's website d.l0.wtf
Scammer's address Chicago IL, MN, USA
Victim Location MN 55129, USA
Type of a scam Romance
Our conversations began casual and transpired to more romantic conversations where we were making plans to meet and potentially have a future life together. The scammer claimed to be an experienced bitcoin trader and shared he'd help me invest and turn a profit. I was hesitant, but eventually agreed to an initial investment of 2K and later on, it grew to 5K and eventually 43K (all in all, 50K investment). He provided a link for me to download the FXTM app onto my phone and showed me how to create a profile where I was vetted (i.e. provided my personal id information including my social, home address and uploading an image of my DL). The process I followed to transfer money into the FXTM platform was as follows - create a Coinbase account profile and initiate a wire transfer from my bank to Coinbase. I would then buy crypto with cash and use that as the form of currency to transfer to FXTM. Each transfer required me to contact the FXTM Customer Service - I would request an 'ETH Recharge' in which they would provide me a unique address that I'd copy and transfer the funds into. Because I believed FXTM to be a trustworthy 3rd party, I did everything as instructed and trusted that they were a legitimate company to conduct trades with. Once I had successfully completed the ETH Recharge, FXTM Customer Service converted the form of currency into QCC. I'm not sure if those were shares or what, but that was the form that was available in my 'wallet'. The scammer would then instruct me on when to trade and how much to trade. And with each trade we conducted, my portfolio grew. We continued in this manner for a few weeks and the scammer even surprised me by depositing a large sum into my account (without my knowledge).
As we approached the date of our in person meeting, the scammer began to share stories of his personal issues with the IRS, indicating that he was in 'hot water' with them due to not having paid taxes. At first, it was nothing to be afraid of (this was before my final investment of the 43K). Eventually, the story changed and went from 'nothing to worry about' to 'the IRS has paid him a visit and he can no longer be in communication with me' which was the day before he was due to be in MN. I quickly became worried and wanted to pull my funds out from the FXTM site. The scammer of course, was happy to show me how to do this. Unbeknownst to me, I made the request to pull out all of the funds (my deposited funds, the funds I gained from trading as well as the funds that were 'deposited' as a surprise for me). When I made this request, my funds were in a 'frozen' state (which is according to the site, is normal...and in 3 days time, the funds will be deposited into your account of choice). After 3 days, I contacted Customer Service and was told I was required to pay 'personal taxes' on the funds I was withdrawing which equated to 55,886. I was instructed to make payment within 10 working days or I'd receive additional penalties. I asked if I could request a lesser withdrawal and was told, I could not cancel and the threats of penalties continued. I didn't feel as though I had any other option and so, transferred 56K to cover the taxes. I followed the process of wiring the funds into Coinbase and using it to buy crypto. FXTM provided a special address for tax payments. Due to conversion fees, I came in a little short with my tax amount and had a remaining balance of approx. 1k which my scammer offered to cover. I contacted FXTM Customer Service shortly after my scammer covered the remaining tax balance and was told that I was paid in full and would receive my deposit within 3 business days. Three business days turned into a week and eventually on day 19 (I believe), I contacted Customer Service again and they told me I was under investigation due to the large funds that were deposited into my account and so I would need to pay another 49K and send in my DL to verify my identification in order to release my withdrawal request. Meanwhile, the scammer's story had changed and the IRS was really onto him...took him into custody and he couldn't make contact with anyone for 3 days. After the 3 days, he was not able to visit me any longer and when I asked to visit him, he shared he'd have to put in a request to the IRS. This all was beginning to come full circle for me and I tried hard to not show it so that I could get his help to recoup my funds, but it became more and more difficult to exchange messages with him and got to a point where we stopped talking and he stopped responding to my messages.
Going back to FXTM, I had put everything on pause because I could not afford to make the 49K payment to release my withdrawal request (this was beginning of July). Eventually at the end of August, FXTM started to reach out via WhatsApp indicating that I had a balance due on my tax payment of 2,427 indicating that I had only paid 47K and still owed the rest before my withdrawal request would be approved and processed. I tried explaining to them my situation, but they insisted that I still owed this amount. FXTM contacted me multiple times from various numbers on WhatsApp in attempt to collect the remaining balance. I ignored them the last few times and within the last week, I noticed my FXTM profile had been cleaned out, deactivated. None of the numbers from my previous chats with FXTM were valid so I contacted FXTM via FB chat just to be told that none of the numbers I provided them are from their business and they in fact, don't do business with anyone in the USA. I tried contacting my scammer, but that phone number is no longer valid. I'm able to get into the FXTM app, but cannot contact customer service or use any of the functions. My balance has also been wiped out and now showing a zero balance.
I have felt so ashamed about this entire ordeal that I kept this from everyone, including my family. I finally decided to share with a friend and he is the one who helped me find this resource to report and share my story. Going through this experience is very isolating and depressing, but I am learning to accept that I was a victim in this situation and am now just beginning the process of reporting it where ever I can and sharing my story with anyone willing to listen.