On August 10th 2011 I logged into my Instaforex account only to find out that 99% of my money had just been withdrawaled. Somehow, some way, someone obtained access to my account with my pin code and made a withdrawal of $8200(My entire accounts balance) to Liberty Reserve.
Not only did I not receive an e-mail about the withdrawal, Instaforex seen it completely normal for someone to log into my account under a different IP and withdraw all my money and not even ask a question. What's wierd is that when I checked my account log history, there was no other IP in there but mine which leads me to believe it could have been an inside job. How else could the money have been withdrawn?
You would think a transfer of this size being withdrawn to a place like Liberty Reserve(considering I've only ever used bank wires with them), and under a completely different IP would raise a flag or two? But no, they had that withdrawal approved within hours it seems.
As soon as I seen the transfer show up in my account I was immediately in contact with support at which point they gave me a link to a form to fill out to have the transaction cancelled. I completed the form while still talking to the support guy and he confirmed after that the withdrawal was cancelled, but my account was being locked to prevent any future incidents. I just had to send a scan of a government photo ID. Ok no problem I immediately did that.
Whew! Crisis averted, or so I though...
A few days go by and I'm waiting for a phone call from Instaforex to confirm my phone number, and obviously they don't call. I contact support again at which point I find out that the withdrawal actually was processed and was being investigated by the anti-fraud department.
So then I contact their finance department where I get the official bad news, the withdrawal was approved, the money is gone and there is no way of getting it back. Case closed.
So not only did they just let this happen, they didn't even notify me of anything throughout the entire process. The only time I got answers was when I was contacting them directly.
I'm a partner with Insta forex and this is how they handled the situation. 75% of this money was commission from traders I introduced to Instaforex and this is how they treat me.
What a complete joke.
:unhappy:
Not only did I not receive an e-mail about the withdrawal, Instaforex seen it completely normal for someone to log into my account under a different IP and withdraw all my money and not even ask a question. What's wierd is that when I checked my account log history, there was no other IP in there but mine which leads me to believe it could have been an inside job. How else could the money have been withdrawn?
You would think a transfer of this size being withdrawn to a place like Liberty Reserve(considering I've only ever used bank wires with them), and under a completely different IP would raise a flag or two? But no, they had that withdrawal approved within hours it seems.
As soon as I seen the transfer show up in my account I was immediately in contact with support at which point they gave me a link to a form to fill out to have the transaction cancelled. I completed the form while still talking to the support guy and he confirmed after that the withdrawal was cancelled, but my account was being locked to prevent any future incidents. I just had to send a scan of a government photo ID. Ok no problem I immediately did that.
Whew! Crisis averted, or so I though...
A few days go by and I'm waiting for a phone call from Instaforex to confirm my phone number, and obviously they don't call. I contact support again at which point I find out that the withdrawal actually was processed and was being investigated by the anti-fraud department.
So then I contact their finance department where I get the official bad news, the withdrawal was approved, the money is gone and there is no way of getting it back. Case closed.
So not only did they just let this happen, they didn't even notify me of anything throughout the entire process. The only time I got answers was when I was contacting them directly.
I'm a partner with Insta forex and this is how they handled the situation. 75% of this money was commission from traders I introduced to Instaforex and this is how they treat me.
What a complete joke.
:unhappy: