KayaFX

Options
demacca
demacca Posts: 2 Newbie
in Savings & investments
I saw an advert where Martin purports to recommend KayaFX as a good investment in Bit Coins. I was sceptical and put in £250. This grew to £392 and then didn't move. I decided to cash in and as soon as I did the value fell to £190'sh and is now at less than £2.
I suspect that if I hadn't tried to get my money back it would have remained at a higher amount to entice me to invest more.
I was badgered to increase the pot but thank fully resisted.

What can I do to at least get my £250 back?

Comments

  • Linton
    Linton Posts: 17,162 Forumite
    Name Dropper First Post First Anniversary Hung up my suit!
    Options
    See https://www.fca.org.uk/news/warnings/kayafx


    Kayafx is a company in Estonia. So unless you fancy talking to an Estonian lawyer, the Estonian Police or Estonian regulators (or even if you do talk to them) I would say your chances of getting anything at all back are about zero.
  • Zanderman
    Zanderman Posts: 4,683 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    I doubt you can do anything to get your £250 - and it will have nothing to do with Martin!

    Martin doesn't (ever) recommend anything like this - and for some time now has been strongly advising people not to fall for scam adverts saying that he does.
  • Alexland
    Alexland Posts: 9,653 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Options
    Never heard of them and no idea if you would get money back but if you have any suspicions about them you might want to contact your bank and explain how you paid as they may still have something like your debit card details on file.
  • eskbanker
    eskbanker Posts: 31,034 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    demacca wrote: »
    I was sceptical and put in £250.
    A somewhat unusual response to (justifiable) scepticism. Can I interest you in some magic beans?
    demacca wrote: »
    What can I do to at least get my £250 back?
    tardis2.jpg
  • Alexland
    Alexland Posts: 9,653 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Options
    eskbanker wrote: »
    Can I interest you in some magic beans?

    Hey I sell the magic beans around here! I also do a good line in unwarranted hope, broken dreams and unfortunate consequences.

    Alex
  • Malthusian
    Malthusian Posts: 10,938 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Options
    If you paid using a debit card or credit card then look into chargeback (for debit cards) or a Section 75 claim (for credit cards).

    Gambling / investment losses aren't covered by chargeback/S75 but this isn't an investment loss, you thought you were buying Bitcoins and they have failed to deliver. Expect a fight with your card issuer nonetheless.

    Change your phone number and any other contact details you used to contact them because you are extremely vulnerable to being scammed again.

    Anyone who contacts you claiming they can get your money back is also a scammer.
  • demacca
    demacca Posts: 2 Newbie
    Options
    Malthusian,

    Many thanks for the advice. If nothing else 311 people are aware not to get involved.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards