MallonFx - FCA warns investors about company clone

The supposed online broker MallonFx sells itself as a trustworthy platform for automated online trading with cryptocurrencies. However, evidence is mounting that things are not above board at MallonFx. Reports from traders about MallonFx are accumulating, talking about phone terror, rip-offs and investment fraud. All investors lost their capital invested with MallonFx. Serious doubts are announced. Meanwhile, many investors of MallonFx are worried that it is an investment fraud. All MallonFx investors are wondering if they have become victims of investment scammers? And what can MallonFx investors do if the suspicion of investment fraud is confirmed? How can MallonFx investors get their money back? Does it make sense to file a criminal complaint against MallonFx with the police? What help is available in case of investment fraud?



MallonFx: Questionable affirmations on the website!
What do the perplexed prospective customers have to receive on "MallonFX's global customer support team is available 24/7 to help you manage your funds easily, quickly and securely...Buy and sell the underlying asset on the MallonFX Cryptocurrency Trading Platform...Build your crypto-based portfolio and enjoy benefits not offered by most exchanges, such as near-instant execution of market orders." This is just a small sample of the suspect promises investors can find on MallonFx's website. Not a single one of these given promises by MallonFx has been kept. Unfortunately, the dubious business practices tend to make for unhappy investors and miserable experiences!


MallonFx: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the MallonFx 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 MallonFx website, there are no references to the operators to be found. However, one learns that the domain was registered with Tucows Domains Inc. only on 25.05.2021. 


MallonFx: Who is behind it?
Answering this question will be rather difficult for many investors, since the MallonFx makers do everything to conceal the true circumstances. However, this is nothing unusual. The perpetrators mostly operate 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? There is scant information about this on the MallonFx website. The company AMC Trade Finance Ltd. with the business address 25 Watling Street, London, United Kingdom is stated, but the makers of MallonFx cannot be found under this address. In addition, there is the obligatory support e-mail address but no telephone number. 


MallonFx: The customer acquisition of the investment fraudsters
Here the same procedure can be found again and again: The recommendations of MallonFx are propagated in all possible media and channels. Often enough, the offers are false promises. To increase the deception, they upload movies on Youtube, in which interested investors are convinced with false 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". In parallel, a mostly aggressive affiliate program is launched to give others incentive to beat the advertising drum for MallonFx.


MallonFx: 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. In the process, the investment fraudsters also frequently 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. In some cases, even small sums are returned in order to lull investors into a sense of security. Who then does not want to further increase the stakes? But what happens next?


MallonFx: repayment of money is subject to conditions
Once in, an exit is mostly impossible. Rather, the administrators of the investment scammers tie a repayment of the money to further deposits. This is where employees come in, claiming alleged 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 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" wants a small fee - in advance!


MallonFx: Scheme of investment fraud?
There is no regulation of the online broker MallonFx. MallonFx lacks legitimacy 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 FCA dated 05.07.2021. It is effortless to see that MallonFx is a scheme of capital investment fraud. All those harmed by MallonFx are advised to consult an investment fraud lawyer immediately.


MallonFx: where do the fraudsters operate?
There is no doubt that MallonFx traders are dealing with investment fraud in Germany, Switzerland and Austria. The illegal activities of MallonFx were by no means limited to the DACH region. Because MallonFx equally addresses English-speaking investors, it is not surprising that the defrauded traders of this group of speakers also come forward. A look at the list of regulators is advisable before any financial commitment to reduce the risk of becoming a victim of investment fraud.


MallonFx: Claims for damages against involved banks
Anyone wishing to provide financial services and investment transactions in Germany must first obtain mandatory permission from the Federal Financial Supervisory Authority (BaFin). It is prohibited to conduct, support or facilitate such transactions, even across borders into Germany. Persons and companies who nevertheless participate in such transactions are obliged to pay damages to the traders who have suffered losses. The investment fraud cases would have been hardly feasible without these banks.


MallonFx: Investors want their money back!
The constellation is far better than it seems. The aggrieved investors can take action against the investment fraud and reclaim the invested capital. As of today, it is unlikely that the MallonFx investment fraudsters will be caught in time, but there is still reason to hope. Hope because the money flowed through accounts provided by financial institutions striving to maintain a good reputation. They apparently failed to check the sometimes high and therefore controllable deposits of the investors and their forwarding for illegality. Such omissions enabled the investment fraudsters their criminal action only.


MallonFx: They want their money back! How does that work?
Equipped with this knowledge, investors would never have gotten involved in an investment with MallonFx. Now the only option left for the victims is to try to recover the invested capital. Many investors cannot 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 have a duty to take action against money laundering. This is where one starts with good chances of success. For this purpose, essential points should be clarified. To which destination were the funds embezzled by MallonFx sent? Can investors somehow get back the money they invested with MallonFx? What actions are advisable from now on? A lawyer specializing in investment fraud will best answer such questions for you.


MallonFx: Who can help?
What to do in case of investment fraud? What help in the case of investment fraud can the victims of MallonFx hope for? MallonFx 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 MallonFx 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 MallonFx.


MallonFx: Follow the money trail!
Abuses of such kind on the grey capital market pursue the Anlegerschutzkanzlei Resch attorneys since over 30 years. The proceeding of MallonFx is so regarded nothing really new. In the course of time, Resch Rechtsanwälte have developed an effective arsenal of instruments for tracking down the missing sums of money and tracing the flow of funds. In the age of the Internet, it is becoming increasingly difficult to make funds disappear. The faster investors track the money, the more promising it is that they can have their money secured. It is important now that investors who have been harmed by MallonFx act without delay.


RESCH Attorneys at Law - Experience in investor protection since 1986
If you have become a victim of MallonFx and want to know if and how you can get your money back, call 030 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.