Avtocoin.com Broker
Avtocoin.com, a cryptocurrency trading website, has come under scrutiny following a warning issued by the California Department of Financial Protection and Innovation (DFPI). The alert comes after a Californian resident reported losing more than $6,000 while using the platform to trade crypto assets.
According to the complaint, the user transferred funds to avtocoin.com and began trading without issues initially. However, when the resident attempted to withdraw their money, the platform claimed the account had been suspended for 30 days due to “suspicious activity.” Despite repeated attempts, the user was unable to recover any funds. The website later became inaccessible, and customer support reportedly vanished.
Other users have raised similar concerns online, alleging that Avtocoin.com demanded fake “upgrade” or release fees to process withdrawals. Once payments were made, withdrawals still did not occur. These reports have led to growing concerns that funds sent to the platform may not be recoverable.
Investigations into Avtocoin.com reveal multiple red flags, including unclear ownership details, lack of reliable contact information, and questionable operational practices. The site has also been flagged for potential security and data safety risks.
Scam Detector currently assigns avtocoin.com a medium-risk trust score of 64.4. While not officially labeled a scam, regulators and users are urging the public to stop sending funds immediately and exercise extreme caution.
About Avtocoin.com (avtocoin.com)
Warning – The California Department of Financial Protection and Innovation (DFPI)
Website: http://avtocoin.com/
Address: NA
Regulation Status: Unregulated
Operating Since: 2015-07-31
Lost Funds to Avtocoin.com?
If you have lost funds to avtocoin.com, take action now. Fill out a form to ask for a case review and get fund-recovery assistance.
Is Avtocoin.com a Trustworthy Platform?
To figure out if avtocoin.com is trustworthy, consider the following points:
- Does the broker have a valid license from a top regulator (FCA, ASIC, CySEC, etc.)?
- Does the website have verifiable company registration information?
- The phone numbers, office addresses, and legal documents are real and can be traced.
- Are customer testimonials similar, or do a lot of users say that there are problems with the withdrawal?
Conclusion:
- With the lack of proper licensing or company information, the risk might be much higher. Always check before you deposit any funds.
How Risky Platforms Often Operate
Here are the suspicious trading platforms’ tactics that are used the most:
“Pig-Butchering” / Long-Term Manipulation
Scammers first build a connection through chat apps, social media, or dating sites and then lead the unaware to trading on platforms where they are eventually ripped off.
Clone Trading Platforms
Such platforms imitate real trading platforms — showing rising balances, charts moving favourably — but these are fake. Withdrawals may be allowed initially, then blocked later.
Other Indicators
- Calls or messages urging you to make large deposits.
- Assurances of very high returns with no risks and short waiting times.
- Requests for “taxes” or “clearance fees” to be paid before the cash-out can be processed.
- A website that looks perfect, but in reality, it just hides the lack of regulatory disclosure.
- Fake user reviews, getting celebrity endorsements, or buying reviews to create an illusion of credibility.
Warning Signs Associated with Avtocoin.com
- Absence of a valid, verifiable license number.
- The company address and contact information are either nonexistent or hard to trace.
- The application of forceful sales strategies is pushing for large deposits very quickly.
- The claim of “guaranteed profits” is not credible.
- The online reviews speak of payments being stopped, support disappearing, or staff being unresponsive.
What to Do If You Have Invested with Avtocoin.com
Should you have already deposited money with Avtocoin.com and suspect problems, especially if you were searching for recommended forex brokers for swing trading, do the following steps right away:
- Stop all communication with the platform and the representative that is connected to it.
- Let your bank or payment processor know about it – inquire about charge-backs, blocking more payments, or recovering funds.
- Collect proof – keep all communication, screenshots of the trading platform, deposit slips, chat logs, email threads, and transaction IDs.
- Inform the authorities – reach out to your local police or cybercrime department and lodge a formal complaint. Also, inform the financial regulator that is relevant to your jurisdiction.
- Get professional help for the recovery – if the losses are considerable, consider very carefully reliable fund-recovery or legal assistance (check credentials, fees, and past cases before hiring).
Quick Summary
Avtocoin.com lack of regulatory oversight, along with the multitude of red flags, makes it a high-risk market. If you decide to go on, it is imperative to check its license, corporate identity, and withdrawal history first.
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