Following in the footsteps of FX Trading Markets, brother UKtrade unexpectedly closed too, causing investors to lose their limbs
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UKtrade, FXTradingMarkets’ half-brother exchange, officially closed with this fraudulent brother on the same day (June 26th) after almost 2 weeks of posting a notice of “Under Maintenance, Updating” that caused investors to lose billions of dollars.
UKtrade has been operating since late 2020 and also advertises having a forex trading license in the UK. The exchange has an additional type of VIP account for investors who deposit over 20,000 euros and convert into EURC cryptocurrency with a promised profit of up to 3% per day.
Mr. Tam (Ho Chi Minh City) accepted Vnexpress that I deposited 2.8 billion VND in April, but now “almost burned out”. Thousands of UKtrade accounts were lost on the night of the 10th. When asked, the Leader team stated that “the panel of experts was unable to analyze the market due to the epidemic”. The exchange requires people to pour more money in to be “saved”. Anyone who does not top up and expresses doubts will delete their account and click out of the system.
When Mr. Tam and nearly 10 others saw evidence of programming to “purge” the investor’s account, they invited each other to file an application with the police despite being challenged by the leaders. “Our group lost a total of 6 billion dong,” he said sadly.
A virtual investment advisory session at the FYT office in GH8 Truc Khue, Phan Thiet City | Photo: Vnexpress
In Binh Thuan, hundreds of other people who were in the same situation as Mr. Tam went to the police to accuse the head of UKTrade in Phan Thiet of making them pay for their investment. This woman claims to be the Golden Leader leading the trading floor in Phan Thiet, has given many presentations, advised investors to only deposit funds, and the Filipino experts will stand for the deal.
Ms. Vo Thi Dieu Hien (who lives in Ham Tien Township) said that on May 2, she sent more than VND 106 million to buy EUR 4,000. Two days later, she paid another VND 213 million to buy another EUR 8,000 and was allowed to open an account to monitor profits. When she found out on May 10 that her account had lost all of its virtual money, she complained. Golden Leader asked to pay 30% more than the original capital to save and said it would bring more profit. “My account was then suspended. I found out this was a scam, so I reported it to help others avoid falling into the trap,” Hien said.
Currently, the nearly 500-member chat group claiming to be a victim of UKtrade and FXTradingMarkets is accusing the two exchanges of being one or having a close relationship because everything is “like twins”. The “masters and experts” of the two exchanges often share images of collaboration, exchange and drinking.
Police in Ho Chi Minh City and Binh Thuan Province said they had received complaints from victims. After initial identification information, the domain name of FXTradingMarkets and the server are registered and located in the USA. These floor administrators have signs that they are creating a new floor on sp500stock.com (anonymous registration from the end of 2020) with the same interface and functions as the old floor.
The way to avoid the landowner’s crime
According to a victim of the exchange, Uktrade’s token offering is a form of cicadas like FX Trading Markets, Busstrade etc. At this point, the exchange owners will cease any liquidity with investors and promise that the price will rise differently than originally said, that the price of EURCX is unchanged at 1 US dollar. However, with the psychology of all investors wanting liquidity to withdraw from EURCX and the continued relocation of more EURCX on the Uktrade floor, the value of EURCX will only go down, not up.
Source: Group reveals MANY LEVEL FRAUD
Leaders and stock exchange owners (Mr Lam) can promise a lot about the value of EURCX in relation to the ecosystem. However, all of these are just drawings that you can get rid of in order to evade investor accusations. They will make excuses for building the ecosystem after raising capital.
The process of this exit will be: issuing a token to encourage investors to believe -> the floor owners and guides are gradually refusing to liquidate for investors and asking investors to go to the liquidity floor for themselves Removing the responsibility for the sale takes a lot of time to approve, because they have to approve drips, otherwise all investors sell off, which means that the price collapses very quickly -> the price continues to fall unchecked because there is no energy if only nobody want to sell. Leading companies may exist right now as they cannot withstand pressure from investors who can spend their own money to liquidate at the reserve price. However, the reserve price is now only 1/10 -1/100 to get rid of the crime but you have lost a lot.
You need to be vigilant to prevent this from happening from the start and firmly oppose the exchange’s way of putting more tokens so you can continue to get liquidity direct from the floor owner, which puts direct pressure on Mr. Lam and which executives exercise.
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Following in the footsteps of FX Trading Markets, brother UKtrade unexpectedly closed too, causing investors to lose their limbs
Please follow our Telegram channel for faster news updates: https://t.me/coincunews
UKtrade, FXTradingMarkets’ half-brother exchange, officially closed with this fraudulent brother on the same day (June 26th) after almost 2 weeks of posting a notice of “Under Maintenance, Updating” that caused investors to lose billions of dollars.
UKtrade has been operating since late 2020 and also advertises having a forex trading license in the UK. The exchange has an additional type of VIP account for investors who deposit over 20,000 euros and convert into EURC cryptocurrency with a promised profit of up to 3% per day.
Mr. Tam (Ho Chi Minh City) accepted Vnexpress that I deposited 2.8 billion VND in April, but now “almost burned out”. Thousands of UKtrade accounts were lost on the night of the 10th. When asked, the Leader team stated that “the panel of experts was unable to analyze the market due to the epidemic”. The exchange requires people to pour more money in to be “saved”. Anyone who does not top up and expresses doubts will delete their account and click out of the system.
When Mr. Tam and nearly 10 others saw evidence of programming to “purge” the investor’s account, they invited each other to file an application with the police despite being challenged by the leaders. “Our group lost a total of 6 billion dong,” he said sadly.
A virtual investment advisory session at the FYT office in GH8 Truc Khue, Phan Thiet City | Photo: Vnexpress
In Binh Thuan, hundreds of other people who were in the same situation as Mr. Tam went to the police to accuse the head of UKTrade in Phan Thiet of making them pay for their investment. This woman claims to be the Golden Leader leading the trading floor in Phan Thiet, has given many presentations, advised investors to only deposit funds, and the Filipino experts will stand for the deal.
Ms. Vo Thi Dieu Hien (who lives in Ham Tien Township) said that on May 2, she sent more than VND 106 million to buy EUR 4,000. Two days later, she paid another VND 213 million to buy another EUR 8,000 and was allowed to open an account to monitor profits. When she found out on May 10 that her account had lost all of its virtual money, she complained. Golden Leader asked to pay 30% more than the original capital to save and said it would bring more profit. “My account was then suspended. I found out this was a scam, so I reported it to help others avoid falling into the trap,” Hien said.
Currently, the nearly 500-member chat group claiming to be a victim of UKtrade and FXTradingMarkets is accusing the two exchanges of being one or having a close relationship because everything is “like twins”. The “masters and experts” of the two exchanges often share images of collaboration, exchange and drinking.
Police in Ho Chi Minh City and Binh Thuan Province said they had received complaints from victims. After initial identification information, the domain name of FXTradingMarkets and the server are registered and located in the USA. These floor administrators have signs that they are creating a new floor on sp500stock.com (anonymous registration from the end of 2020) with the same interface and functions as the old floor.
The way to avoid the landowner’s crime
According to a victim of the exchange, Uktrade’s token offering is a form of cicadas like FX Trading Markets, Busstrade etc. At this point, the exchange owners will cease any liquidity with investors and promise that the price will rise differently than originally said, that the price of EURCX is unchanged at 1 US dollar. However, with the psychology of all investors wanting liquidity to withdraw from EURCX and the continued relocation of more EURCX on the Uktrade floor, the value of EURCX will only go down, not up.
Source: Group reveals MANY LEVEL FRAUD
Leaders and stock exchange owners (Mr Lam) can promise a lot about the value of EURCX in relation to the ecosystem. However, all of these are just drawings that you can get rid of in order to evade investor accusations. They will make excuses for building the ecosystem after raising capital.
The process of this exit will be: issuing a token to encourage investors to believe -> the floor owners and guides are gradually refusing to liquidate for investors and asking investors to go to the liquidity floor for themselves Removing the responsibility for the sale takes a lot of time to approve, because they have to approve drips, otherwise all investors sell off, which means that the price collapses very quickly -> the price continues to fall unchecked because there is no energy if only nobody want to sell. Leading companies may exist right now as they cannot withstand pressure from investors who can spend their own money to liquidate at the reserve price. However, the reserve price is now only 1/10 -1/100 to get rid of the crime but you have lost a lot.
You need to be vigilant to prevent this from happening from the start and firmly oppose the exchange’s way of putting more tokens so you can continue to get liquidity direct from the floor owner, which puts direct pressure on Mr. Lam and which executives exercise.
Please follow our Telegram channel for faster news updates: https://t.me/coincunews
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
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