In recent years, many people have started to try investing on online platforms, but they lack the experience to discern whether a platform is reliable. As a result, they are easily lured by scam platforms, believing they have made significant profits after a series of transactions, only to find out when they try to withdraw funds that it was all an illusion.
Recently, a user complained to our platform about difficulties withdrawing funds from ABUSA. The user applied to withdraw $200, but the platform has not responded, and no funds have been deposited into their account.
From the user's complaint, we learned that they applied for the withdrawal on July 10, but by July 15, the platform still had not provided a response or a solution. As a result, the user had no choice but to seek help and file a complaint.
Refusing withdrawals is one of the primary "profit-making" methods of fraudulent forex platforms. They attract users with promises of "high leverage," "guaranteed returns," and "no fees." Initially, everything seems normal, and users can even make small withdrawals. However, when users try to withdraw larger amounts after "earning" substantial profits on the platform, they face numerous obstacles.
These platforms commonly use the same excuses: illegal transactions, risk control lists, KYC verification, money laundering risks, and security issues. To withdraw funds, users are often asked to pay "taxes" or "deposits." Even if users comply, the platform still refuses to release the funds and continues to demand more money using different pretexts.
When users finally realize the platform is a scam and refuse to send more money, the platform may lock their accounts or even delete them, blaming the users for the losses and denying any responsibility.
Many users, desperate to withdraw their funds, comply with all the platform's demands—whether it's taking photos with their ID, providing bank statements, or sending more money. They do everything in the hope of getting their money back, but the outcome is inevitably the same.
To avoid losses from online investments, the simplest and most effective method is to identify and verify the platform in advance. Once you fall into a scam platform, the outcome is predetermined. Identifying whether an online platform is a scam requires checking various aspects such as registration and regulation.
For those who lack the ability to do so, searching for information about the platform online, such as on Traderknows, can be helpful. In this case, the ABUSA platform was identified as a suspected scam several months ago.
We also encourage investors with similar experiences to report to our platform to prevent more investors from falling victim to scam platforms and suffering losses.
