Mercatox Scam Crypto Trading And Investing Platform

Lost money to a crypto or trading scam? Read this first:

If your losses exceed £3,000 (in the UK) or $10,000 worldwide The Crypto Adviser can offer advice on recovering your funds. 

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Mercatox is a scam financial platform that claims to offer crypto trading and other investments, such as Forex and options.

However, no genuine products are offered here, rather the website is a shell designed to fool would-be investors into parting with their cash.

The person who contacted The Crypto Adviser about Mercatox said they became involved in the scheme after being sent a friend request by a stranger on LinkedIn.

The person introduced them to Mercatox and encouraged them to invest large sums of money from the outset, with substantial profits appearing to accrue in their account.

The victim was able to make a small withdrawal at the start after which their funds were blocked and the scammers demanded a large fee to allow them access.

Unfortunately, this was paid but the funds were still inaccessible and the scammers came back with further reasons as to why they were frozen.

Spotting the Mercatox scam

This platform is perhaps slightly better designed than other scam crypto trading sites we’ve seen, but there are still a large number of red flags.

They include:

• No regulatory or licensing information.
• No details about the team or where they’re based.
• The promise of unrealistically high profits.
• No social media profiles or app store apps.
• Poor grammar and spelling mistakes throughout the content.
• Web pages containing different information than they claim.
• A very new domain name, despite claims on the platform that it has been running since 2017.
• A Domain Authority (DA) score of just 1, which is the lowest possible.
• Several reports online about this platform being a scam.

Can I recover my stolen funds from Mercatox?

It’s unlikely that you’ll be able to trace the scammers, but there are sometimes ways that your funds – or at lease compensation – can be secured.

There are also private companies that might be able to help which I’ve written about here.

If you suspect a site is fake, get in touch.

Related post: Crypto scam help and resources