Hashtrade - This is an investment fraud
Hashtrade pretends that the investor is offered excellent conditions to make money by trading equally fast and safe. Everything at Hashtrade is investment fraud. Nothing is traded at Hashtrade. Not a penny is invested. Everything the investor sees on his screen is fake. The money has landed right in the pockets of the investment scammers. What help is there for investment fraud? What can investors do who have been defrauded by Hashtrade? How can investors get their money back?
HashTrade: Unbelievable promises on hashtrade.pro!
What are the perplexed investors being served up on hashtrade.pro? "HashTrade is one of the largest stockbrokers offering retail investors instant and reliable access to hundreds of global markets. We are dedicated to unlocking the potential of the world's financial markets for everyone and helping our clients achieve their trading and financial goals. We are confident that anyone with an interest in financial markets should be able to access and use global markets to their full potential." This is just a small part of the exaggerated claims that prospective customers can find on HashTrade's website. None of these lofty promises by HashTrade have been kept. Unfortunately, the dubious business practices tend to make for unhappy investors and miserable experiences!
HashTrade: playing hide and seek with the domain entry!
Remarkable for the business practices of the HashTrade makers is that the website does not contain any imprint with complete information about the legally responsible operators of the website. However, this is a legal obligation for companies that directly address customers in the German market. Consequently, the operators of the website have a legal obligation to provide a summonable address of the owner of the website in the imprint. If these minimum requirements of the Telemedia Act are violated by the operators of a website, this is also a cause for concern. If one looks at the corresponding domain data of the website www.hashtrade.pro, one finds out that the website was registered by Xertz Consulting LTD only on 17.12.2020 and that the real domain owners are hiding behind the anonymization service Porkbun LLC.
HashTrade: Who is behind it?
Answering this question will be rather difficult for many investors, as the HashTrade makers do everything they can to conceal the true circumstances. However, this is not unusual, as the perpetrators often operate various of these websites with the supposedly same business model and quickly bring them online, but also shut them down again just as quickly. In many cases, the top-level domain is also frequently changed, possibly to deceive the financial supervisory and law enforcement authorities. And who is the operator? On the website www.hashtrade.pro there is only sparse information: "This website is owned and operated by Xertz Consulting LTD company registration number: 2020/IBC00063 and registered address 8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica. Dominica is a tiny island nation in the Caribbean. It has gained inglorious notoriety for being the home of shell companies that played a dubious role in various offshore leaks, such as the Panama Papers and Paradise Papers. When searching for Xertz Consulting Ltd. one finds out that it was founded in the English commercial register under the registration number 12813127 on August 14, 2020, by Latvian Ivans Gilejs with 1,000 British pounds as starting capital. Considering that this company is supposedly engaged in consulting in the field of information technology, this is far too little start-up capital. However, at the alleged address of 90 Tarnwood Park, Mottingham London, SE9 5PD there is a quiet residential area. Furthermore, three other British companies are said to use this as their postal address. The following comparison is interesting because Paragon Finance has the following information about the operators on its website: This website is owned and operated by Xertz Consulting Inc. company registration number: 2020/IBC00063 and registered address 8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica.". On closer inspection, we see that it is the same address and the same registration number. Can this be a coincidence? A worldwide search for HashTrade and Xertz Consulting Ltd. in the relevant registers leads to no result and makes it clear that this is a pure fantasy product.
HashTrade: The customer acquisition of the investment cheats
Here the same procedure can be found again and again: To attract new customers, the recommendations of HashTrade are presented in all possible media and channels. For example, advertisements are placed on social media, such as Facebook. Not infrequently, the offers are misinformation. In addition, they upload videos on Youtube, in which interested traders are convinced with fictitious references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with a misleading reference to the TV show "Die Höhle der Löwen". At the same time, a mostly aggressive affiliate program is launched to spur others to beat the advertising drum for HashTrade.
HashTrade: 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 years of experience and their satisfied customer base. In many cases, however, the makers of this business model are suspected fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Mostly the traders start with a small sum at stake. Beforehand, investors are also 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 subsequently manipulated and unwanted transactions are carried out. Investment fraudsters often also gain access to their victims' online banking in the process. What is particularly criminal, however, is when supposed profits are displayed on the trading platform to entice the customer to place further high stakes. In some cases, even small sums are returned to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?
HashTrade: Repayment of the money is linked to conditions
However, an exit is then usually no longer possible, rather a repayment of the money is linked to further deposits. This is where employees then come in, claiming supposed tax debts and commission payments. These would have to be settled first, then it would come to the disbursement of the allegedly obtained profits. 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 these payments 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, but the investors are often permanently confronted with calls from other dubious providers, which indicates that the contact details of the investors are further traded among the investment scammers. In the end, the "savior" 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 "savior" wants a small fee too - up front!
HashTrade: Scheme of investment fraud?
There is no legitimacy of the online broker HashTrade. HashTrade lacks regulation by a recognized European financial regulator, such as the English Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is often used by brokers. Likewise, there is no approval from the Swiss Financial Market Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. For this, there is a warning from the FCA dated 06.07.2021. It is not difficult to overlook the fact that HashTrade is a scheme of capital investment fraud. All investors harmed by HashTrade are advised to consult an investment fraud attorney immediately.
HashTrade: Where do the fraudsters operate?
Certainly, HashTrade investors are dealing with investment fraud in Germany, Switzerland, and Austria. The illegal activities of HashTrade were by no means limited to German-speaking countries. Because HashTrade equally addresses English-speaking traders, it is only a matter of time until these defrauded people also come forward. Going through the list of regulators is advisable before making any financial commitment to reduce the risk of becoming a victim of investment fraud.
HashTrade: Investors want their money back!
Fortunately, the mixed situation is not as hopeless as it seems. The aggrieved investors can file a lawsuit against those involved in the investment fraud and reclaim the invested capital. As of today, it is unlikely that the HashTrade fraudsters will be caught soon, but there is a reason for hope. The reason for this is the fact that the money transactions were made through accounts provided by financial institutions that cared about a good reputation. Their managers undoubtedly failed to check the legality of the traders' deposits, some of which were large and therefore subject to controls. Omissions of this kind enabled investment fraudsters to carry out their criminal activities in the first place.
HashTrade: They want their money back! How does it work?
Equipped with this knowledge, investors would never have engaged in business with HashTrade. Now the only alternative left for the defrauded is to seek compensation. Many investors can't even imagine that there is any real chance of ever seeing their money back. Clearly yes! There are numerous legal bases to fall back on. The generic term is "money laundering." When investment fraudsters collect money, the crime of money laundering is committed. Financial institutions are obliged to take action against money laundering. This is where we come in if there is a good chance of success. Before that, essential questions should be clarified. Where did the funds moved by HashTrade end up? Are there realistic prospects that the bounced traders will get back their money invested with HashTrade? What action is needed next? An attorney specializing in investment fraud will best answer such questions for you.
HashTrade: Who can help?
What to do in case of investment fraud? What help with investment fraud can HashTrade's internationally active victims hope for? HashTrade victims can ideally find the help they need from an experienced investment fraud attorney. He or she will be able to take care of your HashTrade case both in terms of the criminal aspects of the investment fraud and the recovery of funds and possible claims for damages. A lawyer for trading also comes into question, because he is also familiar with the methods of fraudulent brokers, such as HashTrade.
HashTrade: Follow the money!
Such grievances on the unregulated capital market are pursued by the investor protection law firm Resch Rechtsanwälte for more than three decades. Accordingly, the methods of HashTrade are nothing new. Over the years, Resch Rechtsanwälte has developed a sustainable arsenal of tools for tracking down the money that has been taken away and tracing the money flows. In the age of the Internet, it is becoming increasingly complicated to make funds disappear. The sooner investors follow the money trail, the greater the likelihood that they will recover the capital they have invested. It is now important that those who have been harmed by HashTrade take immediate action.
RESCH Attorneys at Law - Experience in investor protection since 1986
If you have become a victim of HashTrade and want to know if and how you can get your money back, call +49 30 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.
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