The alleged online broker 24XCentral sells itself as a credible platform for trading with cryptocurrencies. However, there is a lot of information that everything is not running smoothly at 24xcentral. More and more traders are reporting telephone terror, rip-offs and investment fraud at 24xcentral. The traders have lost all their capital invested with 24xcentral. Serious doubts are spreading. Meanwhile, many 24xcentral investors are worried that it is an investment scam. The 24xcentral website is still up and running. All 24xcentral investors are wondering if they have been victims of investment fraud? And what can 24xcentral investors do if the suspicion of investment fraud is substantiated? How can 24xcentral traders get their money back? Does it make sense to file a criminal complaint against 24xcentral with the police? Where can I get help with investment fraud?
24xcentral: Suspicious promises
What are the surprised investors being told on the 24xcentral website? "24XCentral was founded by a group of professionals with many years of experience in the financial industry. We specialise in global financial markets and offer the best possible trading environment with our high-tech technology, competitive pricing, lightning fast execution and great customer service. To provide our clients with the best trading experience, we have developed the best server infrastructure. All servers are directly connected to our LPs. We are committed to everyone we do business with; our clients, affiliates and partners. We value and respect their work and ambitions and do our best to help them achieve their financial goals." This is just a small part of the over-the-top assurances investors find on 24xcentral's website. None of these lofty assurances by 24xcentral have been kept. Unfortunately, the dubious business practices tend to make for disappointed traders and bad experiences!
24xcentral: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the 24xcentral makers is that the website does not contain any imprint with full details of the legally responsible operators of the website. If one looks at the corresponding domain data of the website 24xcentral.com, one finds no reference to the operators there and finds that the website was only registered on 07.04.2021 and that the real domain owners are hiding behind the Icelandic anonymisation service Withheld For Privacy Ehf.
24xcentral: Who is behind it?
Many investors will find it rather difficult to answer this question, as the 24xcentral perpetrators do everything they can to conceal the true circumstances. This is not unusual, however, as the perpetrators often operate several of these websites with the supposedly same business model and quickly put them online, but also shut them down again just as quickly. In many cases, the top-level domain is also frequently changed, possibly in order to deceive the financial supervisory and law enforcement authorities. And who is the operator? There is no information about this on the website 24xcentral.com. A business address is completely missing, only an email address can be found in the contact details. A worldwide search for 24xcentral in the relevant registers leads to no result and makes it clear that this is a pure fantasy product.
24xcentral: The customer acquisition of the investment scammers
The same approach can be found here again and again: In order to acquire new customers, the offers of 24xcentral are advertised in all available media and channels. For example, advertisements are placed in the social media, such as Facebook. Often these offers are false promises. In addition, they upload films on Youtube in which interested parties are convinced with false references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with a false reference to the TV show "Die Höhle der Löwen". At the same time, an affiliate programme is often started to spur others to advertise intensively for 24xcentral.
24xcentral: Criminal business practices!
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their many years of experience and their satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Investors usually start with a small amount of money. Beforehand, investors are often motivated to install remote maintenance software, such as "Anydesk" or "Teamviewer", on their computers, so that assistance can supposedly be provided with the first steps. In many cases, the computer is manipulated afterwards and unwanted transactions are carried out. In the process, the investment fraudsters often also gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform in order to entice the customer to place further high stakes. Sometimes even small sums are paid back to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?
24xcentral: Repayment of the money will be subject to conditions
However, an exit is then usually no longer possible; rather, repayment of the money is linked to further payments. This is where the employees come in, claiming alleged tax debts and commission payments. These would first have to be settled, then the alleged profits would be paid out. For this purpose, tax and commission invoices are sent to the investors, which are often decorated with fake coats of arms and, of course, have to be paid urgently. However, it is never possible to offset them against the supposedly achieved profits. If one refuses to make these further payments, the supposed profits are often turned into losses and the customer is harmed to the maximum. However, this is usually not the end of the horror; investors are often permanently confronted with calls from other dubious providers, which indicates that the investors' contact details are further traded among the investment scammers. In the end, the "saviour" regularly comes forward, claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraud gang. The next rip-off! And of course the "saviour" also wants a small fee - in advance!
24xcentral: Is it investment fraud?
The online broker 24xcentral is not regulated. 24xcentral lacks the regulation of a recognised European financial supervisory authority, such as the English Financial Conduct Authority (FCA)or the Cyprus Securities and Exchange Commission (CySec), which is frequently used by brokers. Similarly, there is no authorization from the Swiss Federal Financial Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. It is also evident that 24xcentral is a scheme of capital investment fraud. All victims of 24xcentral are advised to contact an investment fraud lawyer without delay.
24xcentral: Where do the investment fraudsters operate actively?
Unfortunately, the illegal activities of 24xcentral are not limited to the English-speaking world. Because 24xcentral also addresses German-speaking investors, it is only a matter of time before the defrauded investors of this speaker group also come forward. Going through the list of supervisory authorities is recommended before any financial commitment in order to reduce the risk of becoming a victim of investment fraud.
24xcentral: Investors want their money back!
Fortunately, the constellation is not as hopeless as it appears. The aggrieved investors can defend themselves and reclaim the money they invested. At the moment, it is not expected that the investment fraudsters from 24xcentral will be caught in the near future, but there is still reason to hope. Especially because the money transactions were carried out via accounts provided by financial institutions striving to maintain a good reputation. Those responsible undoubtedly failed to check the traders' deposits, some of which were large and therefore subject to controls, and their forwarding for illegality. Omissions of this kind enabled the investment fraudsters to carry out their criminal activities in the first place.
24xcentral: They want their money back! How does that work?
Knowing this, no one would have invested with 24xcentral. Now the only alternative left to them is to try to recover the invested capital. Many investors cannot even imagine that there is a real chance of ever seeing their money again. Definitely yes! There are numerous legal bases to fall back on. The generic term is "money laundering". When investment fraudsters collect money, the offence of money laundering has been committed. Financial institutions are obliged to take action against money laundering. This is where we start with good prospects of success. Relevant questions have to be answered first. Where did the funds moved by 24xcentral go? Is there a possibility that the defrauded investors will get back the money they invested with 24xcentral? What steps are now due? A lawyer specialised in investment fraud will best answer such questions.
24xcentral: Who can help?
What to do in case of investment fraud? What help can victims of 24xcentral hope for in the event of investment fraud? Victims of 24xcentral will ideally find the help they need from an experienced investment fraud lawyer. He will be able to take care of your case with 24xcentral both in terms of the criminal aspects of investment fraud, as well as the recovery of funds and possible claims for damages. A trading lawyer is also an option because they are also aware of the methods used by fraudulent brokers such as 24xcentral.
24xcentral: Follow the money trail!
Resch Rechtsanwälte, an international law firm for the protection of investors, has been investigating such abuses on the grey capital market for more than three decades. In this sense, the methods of 24xcentral are nothing new. Over the decades, Resch Rechtsanwälte has developed a powerful arsenal of instruments for tracking down defrauded funds and tracing the flow of money. Making funds disappear is becoming more and more complex in the age of the internet. The quicker traders follow the money trail, the greater the chances that they will recover their invested capital. Now it is important that the investors who were harmed by 24xcentral take immediate action.
RESCH Rechtsanwälte - Experience in investor protection since 1986
If you have been a victim of 24xcentral and want to know if and how you can get your money back, call +49 30 885 9770 or fill in the questionnaire. You will receive a free assessment of your case.
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