Crypto and investment fraud
A polished app, a friendly “advisor”, profits that keep growing — and a withdrawal that never arrives.
What it looks like at the start
The approach is friendly and gradual. Contact often begins in a social media group, a dating app or a WhatsApp message, and then moves to a trading platform you have never heard of: it is one of the most damaging forms of cyber fraud, and it usually starts as a fake investment that looks convincing.
“Guaranteed profit, no risk — start with a small amount.”
“I'll teach you trading — I made a lot and I want to help you.”
“Your account shows a profit — deposit more to withdraw the full amount.”
“You must pay the tax or the release fee before withdrawing.”
“Download our app from this link.”
“Your personal advisor will call you now.”
The withdrawal is the trap
The platform is controlled by the fraudster, so the figures on the screen are decoration. A small first withdrawal is sometimes allowed, to build trust and to justify a much larger deposit. After that the money cannot be withdrawn until you pay a “tax”, a “release fee” or a “verification deposit” — and each payment only adds to the loss. There is no real trading account and no real profit.
⚠️ Any promise of guaranteed or fixed profit.
⚠️ A platform with no licence you can look up at a financial regulator.
⚠️ An app installed from a direct link or a chat message instead of an official app store.
⚠️ Contact only through WhatsApp, Telegram or a dating app.
⚠️ A request to pay tax, fees or a deposit before you are allowed to withdraw.
⚠️ Pressure to add money quickly, or to bring friends into the scheme.
- Stop sending money now, and do not pay any tax, fee or release charge — that payment cannot bring back what is already gone.
- Tell your bank or payment app immediately, and ask them to stop the transfer if it is still pending.
- Keep everything: the platform address, the chats, the account numbers, the receipts and the screenshots.
- Report it through the official national channel for your country (below). Financial fraud is also reported to your bank and, in Saudi Arabia, to SAMA.
- Report the group or account where the contact began, so it can be removed.
Brands are impersonated here too
Fake platforms copy the name, colours and logo of well-known exchanges, and fake adverts use the faces of public figures who have nothing to do with them. The named company is a victim of impersonation as well. Verify a platform through the regulator's public register, never through the advertisement that brought you to it.
Crypto payments are hard to reverse
A card payment can sometimes be stopped or reversed; a transfer in crypto usually cannot, because there is no central party able to undo it. That is exactly why fraudsters insist on it. Act while the payment is still pending, and report even if the money is gone — the reports are what map these operations.
Before you invest
Ask for the licence and verify it yourself. If a platform has no regulated entity you can check, no verifiable company address and no way to withdraw, then it is not an investment — it is a payment page.
Report it officially
🇦🇪 UAE
Dubai Police eCrime (ecrime.ae, 901) · Abu Dhabi Aman 8002626 · Ministry of Interior e-Crime · emergencies 999.
🇸🇦 Saudi Arabia
Ministry of Interior e-Crime platform · report financial fraud to your bank and SAMA · emergencies 911.
🇰🇼 Kuwait
CITRA Cyber Security
[email protected] · Ministry of Interior cybercrime unit · emergency 112.
🇧🇭 Bahrain
National Cyber Security Center
[email protected] · Ministry of Interior economic & electronic security · emergencies 999.
