The pretend online broker LifecoinFEX pretends to be a flawless trading platform for online trading with CFDs and Forex. However, there is ample evidence that there are serious abuses at LifecoinFEX. Reports from traders about LifecoinFEX are piling up, talking about telephone terror, rip-offs, and investment fraud. Many have lost their capital invested with LifecoinFEX. Doubts are spreading. Meanwhile, many investors of LifecoinFEX have the fear that it is investment fraud. All investors of LifecoinFEX are wondering if they have become victims of investment scammers? And what can LifecoinFEX investors do if the suspicion of investment fraud is confirmed? Will LifecoinFEX investors get their money back? Does it make sense to file a criminal complaint against LifecoinFEX with the police? What help is available for investment fraud?
LifecoinFEX: Half-silent promises on lifecoinfex.net!
What are the unsuspecting visitors on lifecoinfex.net being presented with? "The LifecoinFEX trading platform is also your connection to your account manager, who knows the ins and outs of how the platform works and can give you expert advice and guidance on strategies and the tools available to execute them. That's in addition to our thorough training program, which is available as soon as you sign up." This is just a small example of the untrustworthy assurances prospective customers will find on LifecoinFEX's website. Not one of these full-bodied promises from LifecoinFEX has been delivered. Unfortunate business practices rather make for unhappy investors and bad experiences!
LifecoinFEX: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the LifecoinFEX makers is that the website does not contain an imprint. Thus, the complete information about the legally responsible operators of the website is missing. If one takes a look at the domain data of the website of LifecoinFEX, there are no references to the operators to be found. However, one learns that the domain was registered with NameCheap, Inc. as recently as May 28, 2021. The real domain owners hide behind the anonymization service Withheld for Privacy ehf.
LifecoinFEX: Who is behind it?
Answering this question will be rather difficult for many investors, as the LifecoinFEX makers do everything they can to conceal the true circumstances. However, this is nothing unusual. The perpetrators mostly run several of these websites with the same fraudulent business model. These are created in advance, quickly put online, and just as quickly shut down. The top-level domain is often changed to deceive financial regulators and law enforcement agencies. But who is the operator? On the website of LifecoinFEX, there is only scanty information about this. The company HY Marketing with the business address St. Vincent and the Grenadines, Kingstown, VC0100, P.O. Box 1574, but the makers of LifecoinFEX cannot be found under this address. In addition, there is the obligatory support e-mail address and the telephone number +447915609954. The worldwide search for LifecoinFEX in the relevant registers leads to no result. This makes it clear that this is a pure fantasy product.
LifecoinFEX: The customer acquisition of the investment fraudsters.
Here, the same approach can be found again and again: To attract new customers, the offers of LifecoinFEX are advertised in all conceivable media and channels. Again and again, these offers are false claims. To reinforce the deception, they upload promotional videos 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 the erroneous reference to the TV show "Die Höhle der Löwen". At the same time, a mostly aggressive affiliate program is started to incite others to intensively promote LifecoinFEX.
LifecoinFEX: 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 fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Usually, the investors start with a small sum as employment. 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 also frequently 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?
LifecoinFEX: repayment of the money is subject to conditions.
Once in, exiting is mostly impossible. Rather, the administrators of the investment scammers tie the repayment of the money to further deposits. This is where employees come in, claiming supposed tax debts and commission payments. If these are settled, it would come to the disbursement of the allegedly obtained profits. The perpetrators send the investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. A clearing with the allegedly obtained profits is never possible. If an investor refuses further deposits, alleged profits are converted by senseless transactions into losses and the customer is maximally damaged. This is not the end of the horror, but investors are permanently confronted with calls from other dubious providers. This indicates that the contact details of the investors are further traded among the investment fraudsters. In the end, a "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" also wants a small fee - upfront!
LifecoinFEX: Scheme of investment fraud?
There is no legitimization of the LifecoinFEX trading platform. LifecoinFEX lacks authorization from 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 authorization 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 Comisión Nacional del Mercado de Valores (CNMV) dated 15.11.2021. This is the Spanish supervisory authority for the financial market and financial services. It is easy to see that LifecoinFEX is a scheme of capital investment fraud. All traders harmed by LifecoinFEX are advised to contact an investment fraud lawyer as soon as possible.
LifecoinFEX: Where do the scammers operate?
Unfortunately, the illegal activities of LifecoinFEX were not limited to English-speaking countries. Because LifecoinFEX also addresses German-speaking investors, it is only a matter of time until the defrauded investors of this speaker group will also come forward. Because LifecoinFEX is also targeting traders in Portugal, it is only a matter of time before the scammers contact us from there as well. A look at the list of regulators is recommended before making any financial commitment to reduce the risk of becoming a victim of investment fraud.
LifecoinFEX: Investors want their money back!
The constellation is far better than it seems. The aggrieved investors can take action against the investment fraud and demand the invested capital back. As of today, it is rather unlikely that the investment fraudsters of LifecoinFEX will be seized promptly, but there is still reason to hope. Hope because the funds flowed through accounts provided by financial institutions striving to maintain a good reputation. They failed to check the investors' deposits, some of which were high and therefore subject to controls, and their forwarding for illegality. Such omissions enabled the investment fraudsters to carry out their criminal activities in the first place.
LifecoinFEX: They want their money back! How does it work?
With this knowledge, the interested parties would never have gotten involved in transactions with LifecoinFEX. Now the only alternative left for these is to seek compensation for damages. Many investors can't even imagine that there is any real chance of ever seeing their money back. Probably all of them are now wondering if they can get 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 must take action against money laundering. This is where one starts with good chances of success. To this end, important points should be clarified. Where have the funds embezzled from LifecoinFEX been taken? Is there a possibility that the victims of the investment scammers will get back their money invested with LifecoinFEX? What measures are in order from now on? A lawyer specializing in investment fraud will be happy to thoroughly answer such questions for you
LifecoinFEX: Who can help?
What to do in case of investment fraud? What help with investment fraud can the victims of LifecoinFEX hope for? LifecoinFEX 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 LifecoinFEX case both in terms of the criminal aspects of the investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading is also a possibility because he is also familiar with the methods of fraudulent brokers, such as LifecoinFEX.
LifecoinFEX: Follow the money!
Abuses of this kind on the unregulated capital market pursued the internationally active investor protection law firm Resch lawyers for more than three decades. The way of the LifecoinFEX is so regarded as nothing new. Over the years, Resch Rechtsanwälte has developed powerful equipment for tracking down defrauded investments and following the money trails. In times of the Internet, it has become almost impossible to make funds disappear. The faster those affected follow the money trail, the greater the chances that they will see their invested capital again. Now investors who have been harmed by LifecoinFEX must react immediately.
RESCH Attorneys at Law - Experience in investor protection since 1986
If you have become a victim of LifecoinFEX 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.