Can't Cash Out Crypto From CV Markets

Lrickysingh49 on 12/02/2021 - 18:08
Last edited 12/02/2021 - 18:16 by 1 other user

I have put all my savings into cryptocurrency. For that, I have used CV Markets platform. One of my workmate told me. I have made a profit from crypto but can't withdraw. On their website, you can see your profit and loss.

As soon I start asking for money withdraw, they stop calling me and responding to my emails. Now it been like two weeks, I have not heard anything from them. That's means, I have lost all my money? I do have all the proves and transaction statements. I have no idea, what am I supposed to do now?

Any suggestions, please?

Financial

Related Stores

cvmarkets.com

Comments

balloontree on 13/02/2021 - 08:45

+4

Use Kraken, they do fast transfer, withdraw and accept aud without fees.

The important part, they reimbursed mt gox victims even though they have nothing to do with it just because they want to instil confidence when crypto market is young
- deme on 13/02/2021 - 20:21
  
  What? How? I have a mate that could use this.
mumbaiboi40 on 13/02/2021 - 10:58

-2

Hi there, have you tried to sell your cryptocurrencies in another platform?
Say you bought 10 bitcoins on CV markets and you are selling these 10 bitcoins on btc markets or any other broker platform.. this is also called as arbitrage trading.
- Pina on 13/02/2021 - 12:18
  
  +7
  
  My guess would be that the OP and his friend never held any of the crypto they were trading. It was all make believe in the CV platform, that's how these scams work. As long as the client is losing they don't even realise they never held anything to begin with, but when you make some or want to withdraw, the cold realisation sinks in. Like most of the advice above, just take it as a expense life lesson.
tsunamisurfer on 13/02/2021 - 12:00

+2

Financial Darwinism.
- holdenmg on 13/02/2021 - 12:11
  
  +1
  
  The origin of the speccy… lol
Tiredman on 13/02/2021 - 12:55

+2

Website shady as hell. GL OP. But i think chances of getting it back is pretty close to zero. Your friend.. i can't imagine.
Blue Cat on 13/02/2021 - 16:43

+1

You know what they say about fools and their money…
PopCounty on 13/02/2021 - 17:02

It’s pure scam site. I mean look at those clues here in their ‘About Us’ section. I don’t want to be racist but these wordings are from Indian Origin. Feel sorry about OP.

“ What are the main advantages that separate us from the crowd of other trading platforms waiting to become your number one choice?

Well, freedom of choice is what we value the most. This is why we won’t try to distract you with glorious details of our past or our years of experience in market trading in hopes of changing your mind.

Rather, we encourage you to think and choose carefully, and completely on your own. We strive for excellence and trading efficiency combined with the utmost success, and you should, too.

The CV Markets knowledgeable and skillful team is always here for you. You can reach us in just a few clicks, on any device or operating system. Our goal is to help you achieve yours – whatever that may be when it comes to trading.

Welcome to the CV Markets family. The journey starts right now, and we couldn’t be more excited!”
- Ridiculous Panda on 13/02/2021 - 18:04
  
  +1
  
  Sounds more bogan.
- TheBilly on 13/02/2021 - 20:37
  
  Their about us section:
  
  “ What are the main advantages that separate us from the crowd of other trading platforms waiting to become your number one choice?
  
  Well, freedom of choice is what we value the most. This is why we won’t try to distract you with glorious details of our past or our years of experience in market trading in hopes of changing your mind.
  
  Rather, we encourage you to think and choose carefully, and completely on your own. We strive for excellence and trading efficiency combined with the utmost success, and you should, too.
  
  The CV Markets knowledgeable and skillful team is always here for you. You can reach us in just a few clicks, on any device or operating system. Our goal is to help you achieve yours – whatever that may be when it comes to trading.
  
  Welcome to the CV Markets family. The journey starts right now, and we couldn’t be more excited!”
- Menzoberranzan on 16/02/2021 - 00:15
  
  +1
  
  " The journey starts right now, and we couldn’t be more excited!"
  
  Couldn't be more excited to take your cash and run
nickj on 13/02/2021 - 17:35

+20

As a general rule for any kind of liquid investment (eg shares, bonds, high interest savings accounts, and so forth) you want to do a full small roundtrip as a test.

By which I mean, using shares as an example: buy ~$50 worth of shares. Check your bank account is debited. Check new shares appear in portfolio. Check you get a chess holding statement, in your name, that confirms purchase. Hold shares for a few days. Then sell your $50 worth of shares. Then check you get you money back in your trading account. Then transfer the money out of your trading account into your normal account, ideally with a separate bank. Check it appears in your normal account, and has cleared / can be spent.

The point is that your are checking that it works - getting money in is usually easy, but getting it out can be hard. Plus you are learning the process. Plus you learn about the delays in the process (eg could be 2 business days for some of the steps above). Plus you are learning about fees (for example there would be ~$20 of fees in the above example - but that $20 is incredibly CHEAP for the reassurance and knowledge you gain, and if you won't happily pay the $20 then you should not be an investor).

A test round trip could have been done with your crypto situation, and it likely would have failed. In which case you would have lost $50 instead of $5000. Of course they could have given you $50 out as bait to lure you in, but not your $5000, in which case you need to consider your secondary protections:

Ideally you want to try to stick to well regulated business where possible, and where the regulators have jurisdiction over the companies, and where there are customer protections in place. So for example, the CHESS holding statement exists so that if your stockbroker becomes insolvent, it's clear that you own the shares, not to the stockbroker.

Also lots of customers successfully moving into and out of an asset class (ideally using the same provider you are considering) is a very good sign. It's not practical to do a test round trip on property for example - but large numbers of people regularly buying and selling and not complaining about losing everything is good sign of a functioning genuine market.

Your scenario appears to have none of these things - no test round trip, no secondary or regulatory protections, and no social proof of a functional provider. I'm sorry you got ripped off, but I would encourage you foremost to reflect on how it was possible for you to be ripped off, and what you can do to prevent it ever happening again.
- Pina on 14/02/2021 - 01:04
  
  I agree with everything you say the only point I'd make is comparing crypto to shares, bonds, high interest savings accounts is like comparing a $5000 Corolla to a rhinoceros. From my little understanding about crypto is that it's unregulated nature is what appeals to some people.
  - NMC on 14/02/2021 - 10:07
    
    +1
    
    The crypto exchanges are heavily regulated and are required to meet the same KYC requirements as in traditional markets.
  - darkmattersunB6c0MV on 14/02/2021 - 17:06
    
    @Pina that is incorrect.
    The crypto exchanges are regulated, and you pay CGT on your gains. You can also offset losses. Please don't spread false news.
    You needed KYC check and these are very stringent.
    If someone wants to do fraud, it is a possibility everywhere, but because people understand cryptocurrency so less, they think that it is a Ponzi scheme.
    - Pina on 14/02/2021 - 19:03
      
      Australian crypto exchanges are regulated by Austrac, for the sole purposes of AML/CTF, not to protect the OP. How will the OP offset losses with the ATO based on trades that may have never occurred. KYC has less relevance, what does it have to do with regulating a decentralised cryptocurrency. If anything I'd be as worried about the OP providing KYC information to CV as much as the loss of the money.
lltravel on 13/02/2021 - 17:38 Comment score below threshold.
- rickysingh49 on 13/02/2021 - 20:16
  
  +4
  
  Thanks for your opinion, That's, what I call greed… When I have seen my workmate money growing too quick.
- Tiredman on 14/02/2021 - 19:17
  
  -2
  
  Dumbest comment i've read all day.
yoquierotaco on 13/02/2021 - 18:12

OP Can you transfer your credit to another exchange? Or have they blocked access to everything
- rickysingh49 on 13/02/2021 - 20:17
  
  NO, I can just see and trade. Can,t move it
  - Quantumcat on 13/02/2021 - 22:28
    
    You can't send anything to another wallet?
    - SydStrand on 13/02/2021 - 23:55
      
      +6
      
      OP probably wasn't even buying crypto. They may have sold digital receipts that didn't represent anything, but showed numbers going up and down so people think they're getting rich on paper. Then when they come to collect, it's radio silence.
polishka on 13/02/2021 - 18:27

Why don’t you just buy some BTC in CV and transfer it to a wallet in a credible platform like Binance or a local Australian one? Then sell BTC and try and withdraw. Worth a try if you haven’t already.
- rickysingh49 on 13/02/2021 - 20:18
  
  I was new, Blind trust
  - SF3 on 13/02/2021 - 20:27
    
    This is, what is not being taught at school / education system. :(
    - NMC on 14/02/2021 - 10:09
      
      +8
      
      Stop blaming the education system.
      Teaching common sense starts at home.
      - No ONE on 14/02/2021 - 11:10
        
        +4
        
        @NMC: Well what you might think is a common sense might not be for another. I think the important point is education (either home/school).
        
        School is the best place to start education young people on how to do research, due diligence and teach some useful life skills. Let's face it, youths are dumb and some would likely remain dumb until they are taught or learn the other way.
        
        Ughhh on 14/02/2021 - 13:32
        
        +2
        
        @No ONE:
        
        how to do research, due diligence and teach some useful life skills
        
        Even if schools spend 50% of the time teaching that, applying that to life requires effort, which no one wants to do. We just want the answer without having to think or do the work for it. Spoon feeding someone doesn't mean they'll learn anything from it.
        
        SF3 on 14/02/2021 - 15:29
        
        @Ughhh: Yes, if school and education is about rote/theory learning, than experiences and practices.
        
        Ughhh on 14/02/2021 - 16:07
        
        +1
        
        @SF3:
        
        than experiences and practices.
        
        Could you provide some examples of how you would give kids the experience on not blind trusting people?
        
        Blitzfx on 15/02/2021 - 01:16
        
        @Ughhh: You couldn't even think of some examples for yourself? Looks like the "Teaching common sense starts at home" failed you too.
        
        Ughhh on 15/02/2021 - 06:25
        
        +1
        
        @Blitzfx:
        
        Looks like the "Teaching common sense starts at home" failed you too.
        
        Lol I guess reading is not your strong suit. The topic was about teaching at school specifically , not at home. Sorry the education system failed you.
        
        Blitzfx on 15/02/2021 - 18:13
        
        -2
        
        @Ughhh: Looks school and home failed to teach you logic + reasoning.
        
        The point is either school or at home, neither of which enabled you to come up with the infinite possible examples of "giving kids the experience on not blind trusting people"
        
        You upvoted the original comment, implying lack of home teaching is to blame, by which you proved wrong by failing to come up with a single counter-example to SF3 for yourself, no matter how weak the counter example may be. Otherwise the implication you're saying is that it's impossible to teach at school, which is objectively and wholly wrong.
        
        Ughhh on 15/02/2021 - 18:41
        
        @Blitzfx: Jesus Christ. You're implying a lot and making a lot of assumptions based on a green button lmao. You're having difficulty understanding the specific topic, but keep trying, I think the emotional attack and anger may be clouding your judgement. Chill.
        
        The point is either school or at home, neither of which enabled you to come up with the infinite possible examples of "giving kids the experience on not blind trusting people"
        
        The original question/point made was in regards to school specifically, not anywhere. I asked for examples of how the school could provide these experiences in class, not where you could learn not to blindly trust people anywhere. I'm not sure if I can make this any simpler…
        
        Lack of common sense is like buying grey import and wanting the ACCC to protect you. Obviously your logic, reasoning and common sense is so high this would never happen to you right?
        
        Blitzfx on 16/02/2021 - 01:33
        
        -2
        
        @Ughhh: No, I think I 100% understand the original topic, and how it relates.
        
        Putting aside your implication of if-not-school then blame the home, which (the home) is still a product of the school system from previous generation, your failure to come up with any example, or refusal to, says that you don't believe it's possible that they can provide these experiences in class. Impossible, unfathomable, under any and all reasonable circumstances within our education system.
        
        not where you could learn not to blindly trust people anywhere.
        
        What? School providing an experience is a form of learning. I don't know why you're attempting to differentiate between these two. I have a suspicion your phrasing is unclear.
        
        A lot of examples where apparent lack of common sense can be broken down into scenarios where people have live their lives in the fringe / edge case where they simply don't pick up life skills to avoid it. That's why there's education.
        
        Think it's common sense not to murder, yet people still do.
        
        Ughhh on 20/02/2021 - 10:04
        
        @Blitzfx:
        
        No, I think I 100% understand the original topic, and how it relates.
        
        Nope. You're still making assumptions and putting words in my mouth. Given your lack of ability to discuss without doing so, I'm convinced you're just trolling now.
        
        Don't go buying grey import dear, the ACCC wont be able to help you.
earth worm jim on 13/02/2021 - 19:08

+4

From reviews I can see that there are alot of people trying to get their money back. You should consider it a loss and move on. Even if you report it, its going to be a long difficult process before you get anything back at all.
snirodha on 13/02/2021 - 20:30

Can you still trade? Perhaps you can hedge it and get the investment as profit from another crypto company. You will loose few hundred in fees etc. But it is better than nothing
windale on 13/02/2021 - 21:30

+2

have you tried to transfer the crypto to another wallet address? Coinspot is pretty good for that in Australia.

Some overseas exchanges won't allow you to withdraw in AUD, you need to send your crypto from there to another exchange that does such as coinspot.
CV markets say they allow BTC transfers.

I trade on Binance etc then convert to BTC and transfer to my Coinspot wallet where I then withdraw into my bank account. had no hassle so far.

fingers crossed its just a hiccup for you.
- frewer on 14/02/2021 - 10:55
  
  Exactly what I just typed below, opps. I do slightly different though, BTC > XRP > coinspot > AUD. Binance has AU too have you tried it ?
- redslert on 15/02/2021 - 16:47
  
  This is a scam website, they simply take your money and then show you a balance of your purchase and increasing value. It is purely a 'paper' balance. CV does not buy anything on your behalf and you don't hold anything. They simply take your money.
  
  So no your proposed method will not work.
  - windale on 20/02/2021 - 20:40
    
    depends on the scam. I was scammed into buying crypto, they called me and talked me through logging into my trading platform account (i used a virtual pc so it didn't expose my real computer). My deposit was there in BTC. They tried to talk me into investing in some of their crypto or their arbitrage scheme. I just said I wanted to transfer my BTC to my wallet, which I did successfully much to my surprise. Turns out the real scam is they get you to invest in their scheme, you look like you are making good profits so you invest more, and more then they close your account. I was lucky I knew what I was doing enough to transfer my funds out quick smart. They also emailed the day after wanting my passport, driver licence and credit card to make my account secure. yeh right. so anyway in my case the paper balance turned out to be a real balance. I was surprised too. I had already called my bank and cancelled my card, added extra security to my account, lodged a charge back etc. the one I was targeted by was www.thewealthcore.com
    
    after comparing sites mine looked identical once in the trading platform part.
bargain huntress on 13/02/2021 - 21:45

good luck

if there's nothing you can do

never mind

at least you're not this guy

https://www.youtube.com/watch?v=1io6ONPBHI8
cloudy on 13/02/2021 - 22:00

+1

scammers love crypto, so little understanding and regulation mixed with stories of people making money and bang. Frauds everywhere.

the promise of high returns catch even the wealthy.
Aerith-Waifu on 13/02/2021 - 22:59

BTC Market is the one in Australia, which is very good. Why did you not use them?
Aerith-Waifu on 13/02/2021 - 23:05

+1

Contact us
As a precautionary health measure for our support specialists in light of COVID-19, Our phone lines are temporarily closed.

Please contact us via LiveChat or email.

SUPPORT OPERATING HOURS
Phone:

Monday to Friday 07:00-13:00 GMT

Chat:

Monday to Friday 7:00 – 14:00 GMT

[email protected]

COMPLIANCE EMAIL
[email protected]
CALL US
United Kingdom +443300272309
Australia +61894688512

WOW! Come on, no office address and phone line is closed?????
dfg555 on 14/02/2021 - 02:18

+1

i just dont understand how some people can be so gullible…

be like me and spend all of that on x5 3060 Ti for nicehash :)
Brendoo on 14/02/2021 - 02:40

+5

According to their domain whois record they have been operating less than 1 year. Massive alarm bell right there. Not to mention everything else (mentioned above) on the site that screams scam.

I'm curious how your colleague came across this site? Are you sure he's not affiliated with it and part of the scam? Best way to scam people is via a previous trusted relationship. Not saying he is, but it's possible.
- sk3iron on 14/02/2021 - 03:57
  
  +2
  
  This was exactly my first thought as well. Fishy as.
- davebowman on 14/02/2021 - 16:10
  
  +3
  
  This. OP, does your friend have any domain names for online businesses to check against this one?
  
  Also worth noting that the site is built on WordPress, and the author's name is on some pages. While I won't post the name here, you can check this yourself by going to this page and viewing the source code: https://cvmarkets.com/about-us/ (search for "author"). The home page has a different, non-human author name.
  
  Obviously the name could be fake, but letting you know just in case it sounds familiar to you, or you want to pursue it further with authorities.
WorldClassMiser on 14/02/2021 - 07:10

+1

Too late for you and your friend, but I came across this website that raised all the red flags for this company -> https://theforexreview.com/2021/01/19/cv-markets-review/
mrvaluepack on 14/02/2021 - 08:14

Only deal with financial companies on this list:

https://moneysmart.gov.au/check-asic-lists#:~:text=Make%20su….

Even that is not guaranteed, but its a good start.
knasty on 14/02/2021 - 09:05

+2

There is a lot of good advice here. Call me old school but I apply my 'grammar radar' first to try and weed out scam emails, websites etc. Here are 6 examples from the homepage which had my grammar radar returning a bogey at 12 o'clock:

Trading Platform for the Champions

We are introducing our top-notch CV Markets platform

WHY US? CV Markets is here to guide you through the Trading World

Either way, we are sure you will find your trading passion here with us at the CV Markets.

CV Markets is here to guide you through the Trading World

Education for the Winners - Here at CV Markets, we acknowledge that intelligence and thrive for learning new things are the greatest asset.
srhardy on 14/02/2021 - 09:39

How CV website scamming has gone on so long and not been shut down amazes me. It’s the older clients getting 0% interest they target too. Got a retire for 15k before I proved to him it was a scam by trying to withdraw. The small print says you can’t withdraw within the first year or more, inclining someone to add to the seemly growing stash. A massive scam
frewer on 14/02/2021 - 10:53

-1

Hi OP, try it this way. Create an account on another exchange and transfer yours to that exchange, then from there cash it out. There will be a small fee 25-30 bucks.
Im using coinspot ( there are a list a ref on Ozbargain ) and Binance ( they have Binance AU too, I have ref too). Hope that help.
- xuqi on 14/02/2021 - 11:47
  
  +2
  
  Scammers won’t respond to anyone or process transfer requests…
- chriise on 14/02/2021 - 13:12
  
  +6
  
  I'm willing to bet CV Markets don't hold a single bitcoin
TintyJ on 14/02/2021 - 10:54

+3

Should we OZB trust pilot with 1 star reviews to balance the tables ?
- Thundaja on 14/02/2021 - 13:09
  
  This is the way
raydebug on 14/02/2021 - 11:44

+1

ACX.IO is a big pain to me, crypto is still a joke whatever the price is
smartazz104 on 14/02/2021 - 13:41

I have put all my savings into cryptocurrency

You're only supposed to invest money you don't mind losing.
- netjock on 15/02/2021 - 21:27
  
  Don't mind eating $5 Domino's for a long while when you could eat gourmet pizza.
[Deactivated] on 14/02/2021 - 14:29

Hey mate,

Too many unhelpful messages.

Q: Do you have access to private keys? (I'm assuming not)
- If the answer to this yes, then you can move the funds easily.

Q: Are you able to send the crypto to other wallets? (I'm assuming yes)
- If the answer is yes, then it might cost you a bit (exchange fees) but you can send them to another crypto wallet, either to a reputable exchange (Binance, CoinSpot).

If you don't know how to do any of them, I can walk you through.

If you don't have access or can't do any of the above, your options are very limited.
ronafios on 14/02/2021 - 14:36

+7

Definitely a scam site. You can see all the listed scam sites here:

https://scamnewschannel.com/updated-crypto-scam-list-2020/

New ones aded regularly.
- Blitzfx on 15/02/2021 - 01:19
  
  Mod should pin this message
acersaurus on 14/02/2021 - 16:56

+1

I would keep trying to remove your cash through CV.

Then give up, learn the lesson and don't let it get you down too much. We all make mistakes.
h0mbre on 14/02/2021 - 17:07

+1

Funds are not safu
Report as cybercrime and push hard, hopefully get something back.
- chriskq on 16/02/2021 - 10:01
  
  but the 'e' and 'u' key are so far apart
Cave Fire on 14/02/2021 - 18:40

-1

Can't get back all of your money, but getting back some ($200~ or so) is achievable. First step would be to join a real exchange. I recommend Coinbase, as you can earn some free Crypto with Coibase Earn. This requires ID verification. After that, you can do the referral offers that are around. Be aware that when you withdraw crypto, you get charged a site fee and a transfer fee. This can wipe out some of the earnings. I lost $200 transferring to the wrong crypto account and made it back through referrals, trading and the price going up.
- netjock on 15/02/2021 - 21:26
  
  So you basically made money from referrals. OP might as well get a job in sales and earn commissions. Just don't think about buying crypto again.
  - Cave Fire on 15/02/2021 - 21:35
    
    No, these are guaranteed deposit referrals, eg $20 btc for a $200 deposit for 30 days. Coinbase earn crypto was around $80 that went to $200, probably more if I hadn't swapped for BTC.
    - netjock on 16/02/2021 - 09:31
      
      No, these are guaranteed deposit referrals
      
      You probably shouldn't be in crypto if you use the word "guaranteed" often.
      
      It might look like real money on Coinbase until you either lose it or it ain't.
      
      With institutional money going into crypto. We know what happen the last time financial services companies on Wall St decided to get in on the No Income, No Job, No Assets industry. 2008/9.
      
      Hope people get out before it all crashes.
      
      OP should get a real job, make their money back and never look back. $5k is a lot of food on the table.
      - Cave Fire on 16/02/2021 - 10:45
        
        @netjock: They are guaranteed promo bonuses, but yeah looks like your mind is made up.
rocksalad on 14/02/2021 - 19:01

+3
Sorry for falling victim to a scam. Here's what you can do now.

Report the scam to scamwatch. https://www.scamwatch.gov.au/report-a-scam. Ensure you have evidence as well.

Notify your bank provider that your account is at risk especially if you provided an personal information so they can locked and make a new account. You can also ask if you can get the money back.

Now your money is likely gone, I'm sad to say there's nothing else to do besides to move on.

If you're in financial crisis now, ask all the help you need. Let your family and friends know so at least you get some comfort and support. You could also get some legal advice and possibly get a financial advisor.

Now what?
1. Since experiencing this so called scam, I suggest take your time to reflect on your mistakes so this doesn't happen again.
2. My rule of thumb when investing or something that requires large capital is to thoroughly research. Research what your doing, company and ask as many people as you can. If there is limited or no information, whatever you're doing with your capital is at risk. And if you wish to take that risk, start small (enough to say its donation money/willing to lose) and don't add any funds until your 100% sure.
3. Use only well known and registered business sites/app when investing.
4. Any investment that gives back high returns too quickly are likely to be too good to be true. Especially when you cannot withdraw (money is already gone).
5. Manage your own money. Never let anyone manage yours especially if you don't know them well enough.
6. Anyone who always, I mean always suggest/push you to add money/fund to financial markets, just avoid completely. The pressure will slowly stress you out and you'll give money away. Remember you are in control of your money. Don't let others push you.

Again sorry for your loss. I wish you the best in the coming weeks and hopefully you'll resolve and find your answers.
AngusD on 14/02/2021 - 19:53

+4

I have put all my savings into crypto currency.

Leaving aside the fact that this particular case seems to be a scam, putting all of your savings into a single asset (especially one as volatile as crypto) is a bad idea in the first place. Diversify.
MND on 15/02/2021 - 08:18

+1

I got burnt like that, couldn’t withdraw the actual cash. Even supposed reputable sites such as coin base and kraken don’t offer such functionality. I only bought a little so I gave up. Over time I replaced my phone lost the 2fa app and can no longer access the accounts. You can always purchase
Items with your money and then onsell that item for your money. But that a lot of (profanity) around, and if you (profanity) up the account code up in which your transferring the money too, there is a chance you will loose your money for ever. Hey but this the result of unregulated currency where your agenda was to seek more privacy and avoid paying tax.
- Aureus on 16/02/2021 - 08:01
  
  You just need transfer your coins to an exchange that lets you sell for AUD like btcmarkets.
crazyboy on 15/02/2021 - 13:08

Sorry to hear about your loss.

The domain is not even .com.au, its a .com domain. .com.au are regulated by Australia and are likely to be much safer.

In future, check the ABN and AFS Licence numberof the company and google <company name> reviews and scam <company name>.

Some of these basic checks will help you avoid scams in future.
Cluster on 15/02/2021 - 14:38

+7

A few commenters have suggested depositing a small amount of money with an unknown trading company and then trying to get a part or all that money back. If the withdrawal is successful only then are much larger deposits made.

No, no, and no. This is a terrible suggestion. Scammers are well aware that people are wary so they'll let the victim withdraw a part or all of early deposits to build trust. Once the larger deposits are made the money is stolen. Sure, it will appear as if the investment is rising in value when the victim logs in, but in reality the money is long gone.

Once the victim tries to withdraw again there will be all sorts of excuses made, or the email/phone just goes cold. By that point the money was stolen weeks or months ago.
- netjock on 15/02/2021 - 21:23
  
  +1
  
  Small withdraws is the way they sucker people into bigger investments.
Scythic on 15/02/2021 - 15:16

The website looks doggy af
tomokaicho on 15/02/2021 - 16:19

It appears to be a scam.

https://au.trustpilot.com/review/cvmarkets.com?stars=1
havo on 15/02/2021 - 16:32

+2

as someone who bought in 1 bitcoin @ $500 several years back only to have the coin exchange (cryptsy) shutdown completely i am still salty to this day
- netjock on 15/02/2021 - 21:28
  
  +1
  
  You sure they didn't just take your money and shut down?
  - Cluster on 16/02/2021 - 10:14
    
    +1
    
    Exit scams are a proven and popular way to make hundreds of millions of dollars in the crypto space. See QuadrigaCX, where the one young owner of the exchange allegedly went to India and suddenly died while building an orphanage…..
    - netjock on 16/02/2021 - 13:23
      
      Or closer to home this Australian guy
      - SF3 on 17/02/2021 - 00:17
        
        @netjock:
        
        20 years in prison
        
        Here’s the thing, $90m for 20yrs… $4.5m per year earnings for the crime.
        
        netjock on 17/02/2021 - 10:37
        
        @SF3: We don't know how much authorities confiscated.
        
        20 years of painful sphincter for less than $4.5m per year plus your freedom. Personal choice.
noshopping on 16/02/2021 - 01:35

-1

reeeeeeeeeeeeeeeekt
- chriskq on 16/02/2021 - 10:04
  
  12 year olds playing fortnite say that.
Lupin the 3rd on 16/02/2021 - 01:47

+2

wassa wassa wassa wassa bitconneeeeeeeeeeeeeeect
- Cluster on 16/02/2021 - 15:05
  
  At least Bitconnect left us with golden memes. You're a legend Carlos Matos: "That's a scam!"

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