bitcoin trading.

ExremelyCautiousSocialist

sveltocome wrote: »

I think bitcoin will test the fibo resistance (where the neckline also is now) and bounce back down to renew the local low. But I dont think it will go much down cuz we have still the impulse structure up (if you trust Elliot I really do) and I believe after the retest of the support on my chart btc usd'll go up again. Otherwise I'll wait untill it breaks up the neckline and buy there.

Do you consider the 2020 halving at all ?

Jo_R

Hi All,

My nephew of only 19 has just found out he has been scammed on the stock market. He came to me for help, and I desperately want to sort this out for him, he has lost £4500, which I know is not much, but to a 19 year old this is all he has.
His initial contact was via Instagram and Whatsapp from someone called Julia Wicks - a binary expert. He set up a Coinbase account, transferred money into that, and then the money used to by bitcoin and transferred to some weird Blockchain thing with random numbers and letters for an address. I will be honest I am out of my depth, and do not really understand.
He has accounts in two different companies 24stocktradingcapitals.com which he currently cannot access, but they keep emailing him telling him all these different funds have been added to his account and auth.superior-financialservices.com which he can access, and it is showing he has money in there but they want money to withdraw it... shocker! and are asking for a COT code?
Has anyone heard of either of them?

The emails are in broken English, and some do not make a lot of sense, and in some they are being rude to him saying 'whats your problem you are stressing me too much'

I know he has been scammed, but I just wanted to understand a little more and try to find out what I can do to help, any advice greatly appreciated, I feel helpless and so sorry for him.
Thanks.

fwor

Jo_R wrote: »

My nephew of only 19 has just found out he has been scammed on the stock market.

Sorry to hear that, but be aware that dealing with companies like the two you refer to is not considered to be "the stock market".

From a quick look, both operate from outside the UK (one appears to be registered in Panama, the other in Nigeria), and are completely unregulated in the UK, and both offer completely unrealistic returns.

He should report the scam to Actionfraud, but sadly he can expect to get nothing back. He may get told that he will get money back if he pays admin fees, but the fact here is that this is all part of the scam. The chances of getting back anything at all are zero, IMO.


Do you know how he paid the £4500? If by credit card then there is some protection, though I would think in this case the card company would define it as "gambling" and not covered.

AnotherJoe

Jo_R wrote: »

Hi All,

My nephew of only 19 has just found out he has been scammed on the stock market. He came to me for help, and I desperately want to sort this out for him, he has lost £4500, which I know is not much, but to a 19 year old this is all he has.
His initial contact was via Instagram and Whatsapp from someone called Julia Wicks - a binary expert. He set up a Coinbase account, transferred money into that, and then the money used to by bitcoin and transferred to some weird Blockchain thing with random numbers and letters for an address. I will be honest I am out of my depth, and do not really understand.
He has accounts in two different companies 24stocktradingcapitals.com which he currently cannot access, but they keep emailing him telling him all these different funds have been added to his account and auth.superior-financialservices.com which he can access, and it is showing he has money in there but they want money to withdraw it... shocker! and are asking for a COT code?
Has anyone heard of either of them?

The emails are in broken English, and some do not make a lot of sense, and in some they are being rude to him saying 'whats your problem you are stressing me too much'

I know he has been scammed, but I just wanted to understand a little more and try to find out what I can do to help, any advice greatly appreciated, I feel helpless and so sorry for him.
Thanks.

Unfortunately your nephew is a complete idiot and has lost all his money. A very expensive lesson to learn. He won't get anything back. And it's not (as confirmed also by another poster) the stock market, why do you think it Is? It's nothing to do with it.
It's bitcoin which is highly speculative in its own right but frankly it doesn't matter what it was because he didn't even actually invest in something highly speculative like bitcoin he just gave his money to scammers instead.

An analogy would be he decided to bet £4500 on a day at Ascot races but instead of opening an account with Ladbrookes or Betfair he opened one with a scammer in Lagos and sent hIs money to them. You should no more call that the stock market or think you could get your money back than in this case

ExremelyCautiousSocialist

Not your keys, not your bitcoin.

https://www.youtube.com/watch?v=gB4wrX2iICA

[Deleted User]

AnotherJoe wrote: »

Unfortunately your nephew is a complete idiot and has lost all his money. A very expensive lesson to learn. He won't get anything back. And it's not (as confirmed also by another poster) the stock market, why do you think it Is? It's nothing to do with it.
It's bitcoin which is highly speculative in its own right but frankly it doesn't matter what it was because he didn't even actually invest in something highly speculative like bitcoin he just gave his money to scammers instead.

An analogy would be he decided to bet £4500 on a day at Ascot races but instead of opening an account with Ladbrookes or Betfair he opened one with a scammer in Lagos and sent hIs money to them. You should no more call that the stock market or think you could get your money back than in this case

Couldn't have word it better. Blunt, but so accurate. This is not Bitcoin or stock market investment, it's just pure stupidity. In the essence:



"Give me your money I will make you more money.
ok there you go
Thanks, bye then"

Alexland

Jo_R wrote: »

I know he has been scammed, but I just wanted to understand a little more and try to find out what I can do to help, any advice greatly appreciated, I feel helpless and so sorry for him.

If that happened to me at age 19 then I would want someone to buy me a drink and listen while I reflect on my foolish mistake.

Alex

Jo_R

You will see by by email I said I did not really know what had happened, and was going by the name of the companies, and my nephew's description. I was looking for some valuable responses to allow me to help, not someone to critise the fact that I called it the stock market, and that is not what it is.
I am looking for a proactive response, something I can look in to, not someone telling me he is an idiot, he knows this already, and that doesn't help me!
Do you remember what it is like to be 19! It p****s me off that a good kid who doesn't take drugs, works hard, doesn't really drink or do anything wrong can still get screwed over, does that make sense?
I am in the process of reporting to Action Fraud, but fwor, can you let me know how you found out where they were registered please, and also thank you for your honest response.

Malthusian

Jo_R wrote: »

I am looking for a proactive response, something I can look in to

The only proactive response which achieves anything is to write off the money. And don't fall for the people who will be calling your son claiming they can get his money back.

Do you remember what it is like to be 19! It p****s me off that a good kid who doesn't take drugs, works hard, doesn't really drink or do anything wrong can still get screwed over, does that make sense?

Well he did do something wrong, he gave his money to scammers (which is now being used to fund drug dealing or trafficking or God knows what) while hoping to get rich quick. If he owns his mistake instead of allowing his mother to convince him that it's not his fault, he's less likely to lose the money he will earn in the future. He's 19, he has plenty of time to earn the money back, but that will do him no good if he keeps chasing his losses and trying to get rich quick, as many victims of scams do.

AnotherJoe

Jo_R wrote: »

You will see by by email I said I did not really know what had happened, and was going by the name of the companies, and my nephew's description. I was looking for some valuable responses to allow me to help, not someone to criticise the fact that I called it the stock market, and that is not what it is..

But thats important because if that was allowed to stand, then down the line, in your family and maybe others perusing this and maybe this 19 year old, might perhaps not enrol in a pension because " that uses the stock market and remember little freddy who lost all his money on the stock market?" When in fact Freddy just gave his money to someone who ran away with it and the pretext on which it was stolen is irrelevant.

Jo_R wrote: »

I am looking for a proactive response, something I can look in to, not someone telling me he is an idiot, he knows this already, and that doesn't help me!

The main help you need is to take on board he's lost the money so he doesn't get scammed a second time in a fraud recovery fraud

Jo_R wrote: »

Do you remember what it is like to be 19! It p****s me off that a good kid who doesn't take drugs, works hard, doesn't really drink or do anything wrong can still get screwed over, does that make sense?

No it doesn't make sense at all, because of course he did something "wrong" or lets say "incorrect" if the word "wrong" carries moral connotations for you. Of course someone who "doesn't take drugs, works hard, doesn't really drink or do anything wrong" can "get screwed over" surely you understand this? The alternative would be that if you didn't take drugs and worked hard that would somehow endow you mystical powers that prevented you being fooled. BTW, looking on Action Fraud, the most likely demographic to be scammed is 65 year old men (probably their pensions being stolen I guess so they are attractive to scammers) so the fact hes 19 is neither here nor there.

Jo_R wrote: »

Y
I am in the process of reporting to Action Fraud, but fwor, can you let me know how you found out where they were registered please, and also thank you for your honest response.

Dont expect Action Fraud to do anything. In particular they will not be recovering his money.


If there is a lesson to be taken out of this, one at least is that you dont invest in companies whose main trading mechanism is via anonymised services like Instagram and Whatsapp ( and Facebook, also a scammers paradise, you may be aware all those fake Martin Lewis and Dragons Den ads they used to host and there are plenty of other approaching-a-scam schemes that still crop up on there)