Withdrawal scam by btcusdt investment ltd

ihiro831

Private
Messages
15
Nice to meet you all.
I am Japanese.

I was solicited by a Taiwanese woman I met through a matching site to trade overseas forex and opened an account with BTCUSBT investment limited.
I was instructed to get support for depositing and withdrawing money from her account manager, Kate, via "LINE".

I started trading on December 3, 2020, with 300,000 yen ($2,900).
She acted as my analyst and gave me trading instructions. Then I deposited 1.2 million yen ($11,500) as she instructed me to add more margin to make a bigger profit. (At this point, my total deposit was about $14,000)

On December 8, she instructed me to ask Kate to tell me about the VIP system.
1 cumulative deposit: $3,000 -> 20% reduction in transaction fees
2 Cumulative deposit: $50,000 -> 40% reduction in transaction fees
3 Cumulative deposit: $10,000 -> 60% reduction in transaction fees
4 Cumulative deposit: $150,000 -> 80% reduction in transaction fees

She instructed me to aim for a cumulative deposit of $30,000, but since cash alone was not enough, I felt it was too risky and once refused the instruction. However, I ended up selling my other financial assets to make the deposit. This was a big mistake. (Total deposit amount: $30,722)

On December 23, I told Kate that I wanted to withdraw all funds ($133,968).
Kate told me that I had passed the withdrawal review and that I should pay 20.315% ($20,974) of my earnings ($103,246) as income tax within three business days. Kate also told me that once the taxes were paid, the requested funds would be deposited into my bank account in three business days.

I thought this instruction was very strange. I asked why it was not deducted from my earnings.
Kate replied that she could not process the payment because the funds had already been transferred to "Tokyo Collateral Co.
I also pointed out to Kate that the tax rate should be different from the Japanese tax rate.
Kate replied that she didn't know, as it was managed by "Tokyo Collateral Co.

I submitted a withdrawal request from the CRM center on the web on December 24 just to be sure, and I received an email from BTCUSDT informing me that the withdrawal request was completed.

On December 25, I borrowed the tax money from my parents and applied for payment to Kate. I made the transfer to my Japanese bank account as instructed. Within the same day, Kate replied that she had received the tax money and submitted it to the "Tokyo Collateral Co.

I was very skeptical about this company, so on December 28, I asked Kate to tell me when my money would arrive.

The next day, December 29, Kate reported back to me. The next day, on December 29th, I received a report from Kate saying that the transfer of funds to my bank account had failed due to suspicion of money laundering. She also told me that I had to pay 20% of the application amount, about $27,600, as protection money in order to transfer the funds. He told me that the money would be deposited into my bank account within the same day. However, I was told that if I left the funds unpaid after January 15, I would be charged 1.7% of the applied funds daily as a custody fee.

I felt this was obviously strange. However, I foolishly borrowed the protection money from a financial institution and paid it in installments on January 12 and January 13.
Then, four hours after I made the payment, my analyst girlfriend reported that she could not log into my account. I also tried to log in and it seemed that all accounts had been deleted.
Of course, Kate did not report any payment received that day.

Please let me know what I can do to help. I feel very shame for wasting my parents' money. I don't want to be another victim like me in the future.

Sincerely yours
 

The Punisher

Sergeant
Messages
240
Nice to meet you all.
I am Japanese.

I was solicited by a Taiwanese woman I met through a matching site to trade overseas forex and opened an account with BTCUSBT investment limited.
I was instructed to get support for depositing and withdrawing money from her account manager, Kate, via "LINE".

I started trading on December 3, 2020, with 300,000 yen ($2,900).
She acted as my analyst and gave me trading instructions. Then I deposited 1.2 million yen ($11,500) as she instructed me to add more margin to make a bigger profit. (At this point, my total deposit was about $14,000)

On December 8, she instructed me to ask Kate to tell me about the VIP system.
1 cumulative deposit: $3,000 -> 20% reduction in transaction fees
2 Cumulative deposit: $50,000 -> 40% reduction in transaction fees
3 Cumulative deposit: $10,000 -> 60% reduction in transaction fees
4 Cumulative deposit: $150,000 -> 80% reduction in transaction fees

She instructed me to aim for a cumulative deposit of $30,000, but since cash alone was not enough, I felt it was too risky and once refused the instruction. However, I ended up selling my other financial assets to make the deposit. This was a big mistake. (Total deposit amount: $30,722)

On December 23, I told Kate that I wanted to withdraw all funds ($133,968).
Kate told me that I had passed the withdrawal review and that I should pay 20.315% ($20,974) of my earnings ($103,246) as income tax within three business days. Kate also told me that once the taxes were paid, the requested funds would be deposited into my bank account in three business days.

I thought this instruction was very strange. I asked why it was not deducted from my earnings.
Kate replied that she could not process the payment because the funds had already been transferred to "Tokyo Collateral Co.
I also pointed out to Kate that the tax rate should be different from the Japanese tax rate.
Kate replied that she didn't know, as it was managed by "Tokyo Collateral Co.

I submitted a withdrawal request from the CRM center on the web on December 24 just to be sure, and I received an email from BTCUSDT informing me that the withdrawal request was completed.

On December 25, I borrowed the tax money from my parents and applied for payment to Kate. I made the transfer to my Japanese bank account as instructed. Within the same day, Kate replied that she had received the tax money and submitted it to the "Tokyo Collateral Co.

I was very skeptical about this company, so on December 28, I asked Kate to tell me when my money would arrive.

The next day, December 29, Kate reported back to me. The next day, on December 29th, I received a report from Kate saying that the transfer of funds to my bank account had failed due to suspicion of money laundering. She also told me that I had to pay 20% of the application amount, about $27,600, as protection money in order to transfer the funds. He told me that the money would be deposited into my bank account within the same day. However, I was told that if I left the funds unpaid after January 15, I would be charged 1.7% of the applied funds daily as a custody fee.

I felt this was obviously strange. However, I foolishly borrowed the protection money from a financial institution and paid it in installments on January 12 and January 13.
Then, four hours after I made the payment, my analyst girlfriend reported that she could not log into my account. I also tried to log in and it seemed that all accounts had been deleted.
Of course, Kate did not report any payment received that day.

Please let me know what I can do to help. I feel very shame for wasting my parents' money. I don't want to be another victim like me in the future.

Sincerely yours
First do not send any more money. This is a tactic to see how much more money they can scam from you. You should file complaints with the Japan Securities and Futures Commission and with your local police department. Also file complaints with the Securities Commission in the country where this company claims to be located . Contact your bank and also file a complaint with them. Take screen shots of all communication with these scammers and of your trading account incase they try to delete the records. Your analyst girlfriend is also part of the scam so take screen shots of any trading advice she provided you and save for your records.

Is there a website for this company and any other relevant information about the names, numbers, etc. of the scammers you can post here (obviously dont disclose your personal information on here).
 

ihiro831

Private
Messages
15
Thanks for the reply.
Your reply is very encouraging.

We have reported this matter to the Financial Services Agency in Japan along with this post. It seems that the FSA will also be making inquiries to the bank.

I have kept all the screenshots of my transactions with the scammers on "LINE" as you instructed me to do.

Lastly, I am attaching the following

1) URL of the company's website
btcusdtbank.com/index.html

2) LINE standby image of Kate, the account manager(IMG-5167,5168)

3) Image of the scammer's female MT5 account No.(IMG-5222)
 

Attachments

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The Punisher

Sergeant
Messages
240
This company claims to have Licenses and Accreditations with all of the regulators and entities listed below. At minimum I would file four additional reports which can be done online: US National Futures Association (NFA), US Commodities Futures Trading Commission (CFTC), US Securities and Exchange Commissions (SEC) and Australia Securities Commissions. If this company actually had all these accreditations and licenses they would post them on their website but instead these are just links.

1610640040636.png

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The Punisher

Sergeant
Messages
240
I looked into it, but it seems that BTCUSDT is not currently a member of NFA.
Also, it seems that the CFTC entrusts the registration of Commodity Pool Operator (CPO) as an intermediary to NFA.

Reference URL

I find this company's claims to be dubious.

View attachment 61121
You are correct and the company is falsely advertising they are registered by the NFA. They also list the US Treasury Financial Crimes Enforcement Network which is funny because they are actually committing financial crimes. I recommend to complete the US CFTC form online and submit a complaint. On the form, please make sure to mention this company states on their website they are registered and regulated by the NFA and the US Financial Crimes Enforcement Network. This should get someone's attention at the US CFTC.
 
Last edited:

ihiro831

Private
Messages
15
I sent an online complaint to the CFTC form as instructed by the punisher. I have also reported that the website contains incorrect information about NFA and FinCEN registration and regulation.

I hope this will get some kind of response. I am attaching the complaint form that I sent to the CFTC, in the hope that it will be helpful to others in a similar situation. Please note that I have removed the part about personal information.

1610681359655.png
 

Attachments

  • Complaint Form 2101-1422-0731-63-fix.pdf
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The Punisher

Sergeant
Messages
240
I sent an online complaint to the CFTC form as instructed by the punisher. I have also reported that the website contains incorrect information about NFA and FinCEN registration and regulation.

I hope this will get some kind of response. I am attaching the complaint form that I sent to the CFTC, in the hope that it will be helpful to others in a similar situation. Please note that I have removed the part about personal information.

View attachment 61131
Depending on how much time you want to spend reporting these crooks, you can now also file reports with every country/agency they have listed on their website. This will alert all applicable foreign governments they are falsely advertising to be regulated by and pull-in financial regulatory commissions from many countries to flag these individuals (i.e. Australia, Switzerland, Canada, Thailand, Laos, etc.).

The Securities and Exchange Surveillance Commission of Japan will be who you likely work with the most since you are a Japanese citizen. There is a chance you can get your money back however please note this process is usually not quick and will likely take some time.


1610729472882.png
 

The Punisher

Sergeant
Messages
240
Below are a few more details. The IP for the website is 104.21.82.71 and the website is hosted by Cloudfare Inc. in California. The website was created on September 28, 2020!

1610730454074.png

1610730529401.png



1610730152431.png

1610730317122.png
 

FxMaster

Lt. Colonel
Messages
9,735
Nice to meet you all.
I am Japanese.

I was solicited by a Taiwanese woman I met through a matching site to trade overseas forex and opened an account with BTCUSBT investment limited.
I was instructed to get support for depositing and withdrawing money from her account manager, Kate, via "LINE".

I started trading on December 3, 2020, with 300,000 yen ($2,900).
She acted as my analyst and gave me trading instructions. Then I deposited 1.2 million yen ($11,500) as she instructed me to add more margin to make a bigger profit. (At this point, my total deposit was about $14,000)

On December 8, she instructed me to ask Kate to tell me about the VIP system.
1 cumulative deposit: $3,000 -> 20% reduction in transaction fees
2 Cumulative deposit: $50,000 -> 40% reduction in transaction fees
3 Cumulative deposit: $10,000 -> 60% reduction in transaction fees
4 Cumulative deposit: $150,000 -> 80% reduction in transaction fees

She instructed me to aim for a cumulative deposit of $30,000, but since cash alone was not enough, I felt it was too risky and once refused the instruction. However, I ended up selling my other financial assets to make the deposit. This was a big mistake. (Total deposit amount: $30,722)

On December 23, I told Kate that I wanted to withdraw all funds ($133,968).
Kate told me that I had passed the withdrawal review and that I should pay 20.315% ($20,974) of my earnings ($103,246) as income tax within three business days. Kate also told me that once the taxes were paid, the requested funds would be deposited into my bank account in three business days.

I thought this instruction was very strange. I asked why it was not deducted from my earnings.
Kate replied that she could not process the payment because the funds had already been transferred to "Tokyo Collateral Co.
I also pointed out to Kate that the tax rate should be different from the Japanese tax rate.
Kate replied that she didn't know, as it was managed by "Tokyo Collateral Co.

I submitted a withdrawal request from the CRM center on the web on December 24 just to be sure, and I received an email from BTCUSDT informing me that the withdrawal request was completed.

On December 25, I borrowed the tax money from my parents and applied for payment to Kate. I made the transfer to my Japanese bank account as instructed. Within the same day, Kate replied that she had received the tax money and submitted it to the "Tokyo Collateral Co.

I was very skeptical about this company, so on December 28, I asked Kate to tell me when my money would arrive.

The next day, December 29, Kate reported back to me. The next day, on December 29th, I received a report from Kate saying that the transfer of funds to my bank account had failed due to suspicion of money laundering. She also told me that I had to pay 20% of the application amount, about $27,600, as protection money in order to transfer the funds. He told me that the money would be deposited into my bank account within the same day. However, I was told that if I left the funds unpaid after January 15, I would be charged 1.7% of the applied funds daily as a custody fee.

I felt this was obviously strange. However, I foolishly borrowed the protection money from a financial institution and paid it in installments on January 12 and January 13.
Then, four hours after I made the payment, my analyst girlfriend reported that she could not log into my account. I also tried to log in and it seemed that all accounts had been deleted.
Of course, Kate did not report any payment received that day.

Please let me know what I can do to help. I feel very shame for wasting my parents' money. I don't want to be another victim like me in the future.

Sincerely yours
My dear friend, how MEANS HOW, you invested so much money by the act of a random girl you met online?

This is clearly honey trap brother, I can pray that you can recover the funds by reporting them but to be honest chances are very low :( she gave you many hints to stop depositing more money but you were blind folded because of getting what you invested and at the end result you lost more. The amount is big man big means veri big. Even it's very big for people like me. @The Punisher already suggested you to take the possible steps. And I will suggest you to talk with bank customer care and ask them if they can help you with anything. I am angry on you for the act and also feel sorry for you.
 
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