Onchain Wallet Broker
Onchain Wallet, a crypto-related platform operating through multiple websites, has been flagged by the California Department of Financial Protection and Innovation (DFPI) following complaints from several California residents. The websites involved include onchainiy.com, onchain-bit.com, onchainwallet.info, and nad-ex.com. At the time of reporting, these sites are no longer working.
According to DFPI reports, residents met individuals on the dating app Tinder who gradually built personal trust. After establishing a relationship, the conversations shifted toward cryptocurrency investing. The individuals then introduced a platform called “Onchain Wallet” and guided victims on how to open accounts and trade crypto assets.
Residents say their account balances appeared to grow, giving the impression of real profits. However, when they attempted to withdraw funds, the platform demanded additional fees before releasing the money. Even after paying, withdrawals were not processed, and funds were not returned.
Users online have raised further concerns, stating that the platform allows suspicious decentralized apps to connect to wallets without warning users, despite repeated scam reports. Discussions on Reddit describe similar patterns, with commenters warning that romance-based investment pitches are a common scam tactic.
Regulators urge the public to avoid these platforms, be cautious of investment advice from online strangers, and report suspected crypto fraud immediately.
About Onchain Wallet (onchainiy.com)
Warning – The California Department of Financial Protection and Innovation (DFPI)
Website: https://oaktree-ex.com/
Website: onchainiy.com, onchain-bit.com, onchainwallet.info, and nad-ex.com
Address: NA
Regulation Status: Unregulated
Lost Funds to Onchain Wallet?
If you have lost funds to onchainiy.com, take action now. Fill out a form to ask for a case review and get fund-recovery assistance.
Is Onchain Wallet a Trustworthy Platform?
To figure out if onchainiy.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 Onchain Wallet
- Absence of a valid, verifiable license number, unlike most trusted forex brokers for long-term investing.
- 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 Onchain Wallet
Should you have already deposited money with Onchain Wallet and suspect problems, 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
Onchain Wallet 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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