Bitcoin Forum

I'm not sure if there's anything I can do but I invested allot (all I have) in "forex" and it turns out to be a scam. I was left with a 'watch only' wallet. Any advice?

What do you mean? What exactly did happen? Can you add more about your issue?

Do you mean that you buy BTC on Forex but you can't able to withdraw because it's just a watch-only wallet just like on PayPal where you can buy BTC but can't able to transfer or withdraw?

I think this is not the right section for this thread it should be in beginners and help section.

would you mind putting more information or screenshots of the website, your conversation with the scammer(if you ever have one), your wallet, etc...? it's hard to give advice when the information given is very vague but with the current information you gave, all I can say is that it's most likely you won't get your money back if you are in fact dealing with a scammer, you also need to be cautious about who you talk to, trust or make a transaction with because there are a lot of scammers out there waiting for a victim.

Feeling very sorry for your lost. I think you joined scam forex project because many users working on forex trading and did not faced any problem yet. If you give full details about your lost then it will be more  helpful for us to give you proper solution or at least other people will be careful. You can gives these details mentioned Below for further details.

1: what is website where you invest and who lead you?
2: You have lost fund or withdraw not working?
3: any other details which helpful to locate it.

OP, I'm sorry to hear that you invested all you have in something that turned out to be a scam, but can you please provide more details about your issue? Firstly, which website did you use to invest? This information will help us better understand your situation. Also,  if you share more info about a scam, it can help the rest of us avoid falling for it too. So if you've got any details, please do share!

Sorry to hear you lost your investment. But here you are not clear that you have lost money by investing in any website. Because if your accusations are not clear without adding all the important information then it will be difficult for the community members to understand what actually happened to you. So please add the screenshots if you have them here along with the link to the website. Because just saying forex doesn't mean how you got scammed.

My advice to you is to follow the right format in creating a scam accusation

This is not yet an accusation but a story because you did not drop the name of ForEx and the amount that you lost, it will all depends on the name of ForEx and its reputation in the Forex industry and we will all  base it on the information you provided like screenshots of the conversation if you did a violation, and if the Forex can be called out to go here to address the issue then the better to address this issue

It's hard to solve if no details are given but the OP gives vague accusations even though he said he was cheated in investing under the name Forex.

I just want to know tomorrow, hopefully he will provide a clearer clarification about the incident that happened to him so that the investment he was scammed.

Maybe today's OP is tired of me being positive, but it would be better for him to come back and provide more details.

The information you provided here is insufficient to conclude anything and we can't give you any advice based on what you have written here.

As per the little information you provided, the one thing i can say is why did you invest a lot in something (either forex or bitcoin) that you can't afford to lose? Look like you're one of that greedy people who want to become rich quickly and scammers exploit this behavior and scam you.  :(

Please provide more details and perhaps someone will be able to give you a piece of better advice.

It is so painful one loosing his hard earned resources to scammers and fraud not to talk of when you had hope if investment to earn more income only to find out that what you hand invested in turns out to be a scam as against your initial thoughts. How devastating that could be. I know how you feel OP. So sorry about your experience.

Kindly do well to update your thread with the website so we could know if there is any help that could be of importance here and also other details pertaining to the transaction as to keep members abreast of they should encounter such in the nearest future so they could know some one already posted it and warned about the activities of the scammers. Atleast that could save many people here so as not to fall victim of such scam sites.

I remember the days of scammers wants to offer their victim of huge investments  profit that, by letting their victims create a new wallet say blockchain.com wallet and give the login details to the scammer as trading expert/broker or whatever they introduced by themselves to their victims. Then this scammer will import a watch-only address ^{(with balance that keep updating/increasing every time)} to the account of their victims saying that its the profit of their investments. I don't know the issue of OP but this is what i remember when i see a scammed user from watch-only address.

@OP unfortunately, you cannot do anything to that watch-only address, simply just serve this as expensive lesson to you that when it comes to investments, when it comes a too good to be true offer, it is scam.

@PX-Z, it is one of the already classic methods of scams, it is very simple and practical for scammers, and very effective for all those who do not distinguish the public coin address from the private key. I also remember that online wallet was very popular when it came to watch-only scams, but desktop wallets were also used, because it's important to convince someone that they have something they don't actually have.

Of course, scammers first talk about investments and ask for new payments, and when the user tries to withdraw coins, they ask for some kind of withdrawal fees and in that way they take even more money. It all boils down to the fact that you need to learn first, and only then invest, otherwise you have a story like the OP.

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@Jman200, I will just warn you not to fall for someone who will contact you in the sense that they can help you return the money you invested, or to look for such services online. You can report everything to the police, but don't pay anyone because it's just a new level of scam.

Yes, the classic bait by those scammers, they will offer some investments, very high yield returns. And when you where about to withdraw, they are going to ask your to deposit big amounts of money and that's where the trick is. You can't withdraw or even if you deposit that amount, I don't think that can you get that money easily.

So in any case, I think the OP has lost his money already, but I do hope that he will learn from this experience. Specially too good to be true offers, not just here in the community.

Honestly, when I read this I'm not even surprised that you were deceived, you seem so ignorant and uninformed.
How the hell did you invest everything you have in something you know nothing about? Either you got/earned that money too easily or are so greedy that you believed in getting rich quickly.

I'm also not sure what kind of help you expect here.

AFAIK, watch only wallet is only occurring in anything related to crypto wallets but if it's also in the forex since I'm not in that market. Then, you truly have been scammed. @OP, you just have to move on and learn from this incident that you shouldn't go in a market that you don't wholly understand.

The scammers won't feel any regret for anyone that they scam since that's what they've been doing and you're one of those targets that they're desiring to scam.

If you've invested all that you've got, sorry about what happened OP but it's impossible to get back what you've 'invested' on that scammer. I don't know the whole story yet but there's no other people to blame from this incident but the scammer and you have to be informed before you invest in any markets.

I think what he meant was that his access to the platform got restricted, and he could only view it without any further interactions.

If you invest a lot in forex without experience, then this will result in losing your money. Like the crypto market, the forex market requires knowledge, skill, and learning because it is also fraught with risks. It is possible that you chose a scam forex platform and put your money in it, as there are many suspicious platforms; I hope that you will explain to us precisely what happened with you because forex, in general, is not a scam but rather a profitable market. I advise you in any market you enter to gain experience and not invest with your emotions and ignorance and to have the ability to deal with technical and fundamental analyses so that the end is not dire.

This is not the guy who looks disappointed losing everything on ForEx at least he will come back here to tell the whole story like naming the FoRex platform, and the amount that he lost, he seems not interested in the advice that we're giving, is he move on easily or he is really that serious, the nature of someone who loses everything is, he will complete the details and will do follow up on his cases.
I hope he can still come back and give us more so we can warn others.

Why the hurry, when making a post like this, be patient and tell the story from beginning to finish, or dont make any post at all, I hope you come back to give us the complete details of what happened and how you lost your invested money, and also name the platform..

We here know that nothing can be done probably, but be sure that your post could be of great help to someone out there, it could help prevent the next person from also being a victim to this same scam, so please let us know the details whenever you Come back.

I don’t know for forex but someone has actually told me something similar about watch only wallet. They give you the wallet seed phrase and since it is setup to be a watch only wallet the imported wallet will be showing the funds on the wallet and then the scammer will instruct the victim to send in some coins mostly bnb to the wallet and that it is the only way for the send option to open up. They end up sending to the same wallet due to their naivety but they won’t still have access to the wallet. Because it was watch only and only the scammer can grant that access

This seems like a childish scam but newbies still fall for them and I think it is the kind of scam that Jman200 had fall into.

Similar scam was happen to one users in our telegram group and targeted person was lucky that he did not deposit big fund. We should always import wallet in other wallet also especially safepal or Trustwallet download from Playstore. sometime when you create wallet in these forex sites give you phrase but its working only in their site and there is no real asset store and you cannot have full access to this wallet. Wallet address checking is very important because sometimes when you import wallet in other wallet or same wallet you will get other address than previous and you can lose fund also here.