Dear BarbaricWhisk5580
1. UK’s FCA has issued warnings
- “Crest Asset Management” is not regulated by the Financial Conduct Authority in the UK – it’s officially listed as an unauthorised firm to avoid
- A similarly named entity, “Crest TM”, is also specifically flagged by the FCA as unauthorised .
2. Pattern matches known scam behaviors
Evidence shows “Eagle Crest Asset Management” or similar names (often via WhatsApp or Telegram) using identical tactics:
- Users first see small successful withdrawals, building trust.
- Later, large withdrawals are blocked, citing strange reasons (e.g. “too many transfers,” “verification delays,” or demanded extra “service fees”)
- Victims report heavy pressure to deposit more, and then complete withdrawal failure at crucial moments
3. Regulatory bodies confirm scam activity
- Washington State DFI investigated Eagle Crest Asset Management Ltd., documenting the exact withdrawal/blocking patterns and advance-fee deception typical of scams
- Other unregulated “Crest-” entities (CrestFinance, CrestMultiFinance, Crest-Trade) are on industry watchlists and flagged by regulatory groups and watchdog sites
So what about that €80k → €300k profit → stuck €34k?
Yes, this is exactly how this kind of scam plays out:
- Scammers let you withdraw small wins to build confidence.
- Then they claim your transfer failed due to “too many transfers” or similar excuses.
- You are asked to “let us know when it arrives” or pay more, but the money never reaches your bank, and the platform becomes unresponsive.
This is consistent with the withdrawal manipulation tactics documented both by regulatory bodies and scam victims
Conclusion – This is almost certainly a scam
All signs match:
- No regulation by any financial authority.
- Complex stories of rapid profits followed by “transfer issues.”
- Victim reports of small withdrawals and then being blocked.
- Well-known scam tactics (advance fee, WhatsApp lure, service fees).
What you should do next
- Stop depositing any more money.
- Document everything: emails, chat logs, transaction records.
- Contact your bank or card provider immediately to request a chargeback.
- Report the firm to:
- Your national financial regulator (e.g., FCA if UK-resident),
- Local police / cybercrime unit,
- Financial Commission or similar watchdog.
- Warn others – share your experience on forums and social media.
In short:
This fits the exact profile of a sophisticated withdrawal scam. The €34,000 “transfer problem” is a classic escalation tactic to delay and frustrate victims until they give up or pay more. Avoid further transactions, pursue a chargeback, and report the operation.
Regards,
Chris