SafemoonTrader - BaFin warns against fraudulent operator

The supposed online broker SafemoonTrader sells itself as a safe platform for online trading. However, there are increasing indications that unacceptable conditions prevail at SafemoonTrader. Reports from traders about SafemoonTrader are piling up, talking about telephone terror, rip-offs and investment fraud. All traders lost their capital invested with SafemoonTrader. More and more doubts are spreading. In the meantime, many SafemoonTrader investors are afraid that it is an investment scam. The SafemoonTrader website is still accessible. All SafemoonTrader investors are wondering whether they have become victims of investment fraud? And what can SafemoonTrader investors do if the suspicion of investment fraud is substantiated? Will the SafemoonTrader investors get their money back? Does it make sense to file a criminal complaint against SafemoonTrader with the police? What help is available in case of investment fraud?



SafemoonTrader: Questionable promises
What are the astonished investors being presented with on the SafemoonTrader website? "The world's largest and most advanced cryptocurrency trading platform. We make your cryptocurrency investments more accessible. SafemoonTrader is rightly considered the best virtual platform for recovering profits on cryptocurrencies and provides all the necessary software and resources to do so. With our help, you can comfortably participate with cloud mining as well as active investments." That's just a small passage of text from the suspect promises that curious people can find on SafemoonTrader's website. Not one of these given promises by SafemoonTrader has been fulfilled. Sadly, the disturbing business practices rather make for unhappy traders and miserable experiences! "


SafemoonTrader: Better to buy Safemoon at Binance?
Safemoon is a cryptocurrency that can also be found under the abbreviation SAFE. Since SafemoonTrader is obviously a fraudulent trading platform, it is better to buy Safemoon coins on an exchange such as Bitpanda, Pancakeswap or Binance. There is also the option to buy, sell and store the cryptocurrency via the Safemoon Wallet app. Apart from the question of whether trading with a speculative cryptocurrency is at all advisable, traders should at least make sure to use reputable providers and not fall for questionable offers like SafemoonTrader.


SafemoonTrader: Hide and seek with the domain entry!
Remarkable for the business practices of the SafemoonTrader makers is that the website did 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, one finds no reference to the operators there and finds that the website was only registered on 08.07.2021 and that the real domain owners are hiding behind the Icelandic anonymisation service Withheld For Privacy Ehf. 


SafemoonTrader: Who is behind it?
Many investors will find it rather difficult to answer this question, as the makers of SafemoonTrader 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, as has already happened in this case. In many cases, the top-level domain is also frequently changed, possibly also in order to deceive the financial supervisory and law enforcement authorities. And who is the operator? There was no information about this on the website
A worldwide search for SafemoonTrader in the relevant registers leads to no result and makes it clear that this is a pure fantasy product.


SafemoonTrader: The customer acquisition of investment fraudsters
Here, the same approach can be found again and again: In order to attract new customers, the offers of SafemoonTrader are promoted in all available media and channels. For example, advertisements are placed in the social media, such as Facebook. Often enough, these recommendations are false information. To increase the effectiveness, they upload promotional films on YouTube or Vimeo in which interested parties 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". With the same goal, an affiliate programme is usually started to encourage others to intensively advertise for SafemoonTrader.


SafemoonTrader: 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?


SafemoonTrader: Repayment of the money is 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!


SafemoonTrader: Scheme of investment fraud?
An authorisation of the online broker SafemoonTrader is not available. SafemoonTrader lacks legitimisation by 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. Instead, there is a warning from BaFin dated 01.12.2021  It is easy to see that SafemoonTrader is a scheme of capital investment fraud. All victims of SafemoonTrader are advised to consult an investment fraud lawyer as soon as possible.


SafemoonTrader: Where do the fraudsters operate?
Unfortunately, the illegal activities of SafemoonTrader are not limited to the English-speaking world. Because SafemoonTrader addresses German-speaking investors as well, it is only a matter of time before the defrauded investors of this speaker group also come forward. Going through the list of regulators is recommended before any financial commitment in order to reduce the risk of becoming a victim of investment fraud.


SafemoonTrader: Investors want their money back!
Fortunately, the situation is more promising than it seems. The aggrieved traders can defend themselves and reclaim their invested capital. At present, it is not to be expected that the SafemoonTrader investment fraudsters will be caught in the near future, but there is nevertheless reason for hope. The reason for this is the fact that the money transactions took place via accounts provided by reputable financial institutions. These obviously failed to check the traders' deposits, some of which were high and therefore subject to control, and their forwarding for legality. Such omissions enabled the investment fraudsters to carry out their criminal activities in the first place.


SafemoonTrader: You want your money back! How does it work?
Equipped with this knowledge, the interested parties would not have engaged in business with SafemoonTrader. Now the only option left for the victims is to seek compensation for the loss. 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 must first be clarified. Where were the funds embezzled by SafemoonTrader taken? Are there realistic prospects that the bruised traders will get back the money they invested with SafemoonTrader? What actions are required now? A lawyer specialised in capital investment fraud will be happy to answer such questions thoroughly for you


SafemoonTrader: Who can help?
What to do in case of investment fraud? What help can the victims of SafemoonTrader hope for in case of investment fraud? The victims of SafemoonTrader will ideally find the help they need with an experienced investment fraud lawyer. He will be able to take care of your SafemoonTrader 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 also comes into question because he is also familiar with the methods of fraudulent brokers such as SafemoonTrader.


SafemoonTrader: Follow the money trail!
The internationally active law firm Resch Rechtsanwälte has been investigating such abuses on the unregulated capital market for more than 30 years. The conduct of SafemoonTrader is therefore nothing really new. Over the course of time, Resch Rechtsanwälte has developed a strong set of instruments for tracking down money that has disappeared and tracing the flow of funds. Making money actually disappear is becoming increasingly difficult in the age of the Internet. The quicker those affected follow the money trail, the more promising it is that they will be able to have their money secured. It is now important that the investors harmed by SafemoonTrader act immediately.


RESCH Rechtsanwälte - Experience in investor protection since 1986
If you have become a victim of SafemoonTrader 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.