Hi
I was just wondering if these guys are a scam or not on the App Store ASD-TXN and if so is there anyway of getting my money back ?
Hey,
Thanks for your message. Iāve looked into this provider and it seems to be a scam. The ASD-TXN app has received multiple reports indicating itās a scam which raises some serious concerns. Its ratings are also very poor on the App Store (1.0 out of 5 stars) and users have specifically mentioned it as part of a āBTC Traderā scheme, warning others to avoid itā.
In addition, thereās extremely limited information about the company, and I couldnāt find any clear contact details or substantial privacy policy of the company. So please avoid using this app and take steps to protect your information.
Regarding the recovery of funds, it is an extremely complex procedure and chances of success are rather low. However, I would recommend checking the following article where we collected a few things you can try to get your funds back: https://brokerchooser.com/forex/regulation/scams#how-to-recover-your-funds-when-scammed.
Also, be careful with companies offering to help you. There are many scams that offer asset recovery services.
Please let me know if thereās anything else I can help you with.
Best wishes,
Andris
Hi thanks for your response, could also please check m.mbtc.ai if their legit or not for me please? They have MSB certification and stuff like that
Thank you
Hey,
Based on my research, it appears that m.mbtc.ai is not a legitimate broker. It is an unregulated platform, which poses significant risks for investors like you. MSB (Money Services Business) certification indicates that a company is registered with the relevant financial authorities to legally offer certain financial services, such as money transfers or currency exchanges. However, it does not guarantee the legitimacy or reliability of a financial platform. MSB registration means the company has met specific regulatory requirements, but it doesnāt provide the same level of investor protection and oversight as being regulated by financial authorities like the SEC or FCA. Therefore, while MSB certification is a positive sign, it should not be the sole factor in determining the trustworthiness of a broker.
Further key red flags include lack of transparency, unrealistic promises, poor customer support, and difficulties in withdrawing funds. Additionally, unregulated platforms like this operate anonymously and can disappear without notice, putting both your funds and personal information at risk. Please avoid investing with m.mbtc.ai and consider regulated and reputable brokers insteadā.
If youāre looking for reliable and regulated brokers, you can find them here: https://brokerchooser.com/broker-reviews.
Best,
Andris
Dear Andris,
i do have problems to withdraw my funds at MBTC - they do not even reply my E-Mailās (support@mbtc.ai ) - So do you have the adress of MBTC ? I Like to send my problems to SEC or do you have special authority in the US, that can force and help, that they pay-out my funds in my withdraw list ? Appreciate your soon reply to E- Mail :
laubach.a@gmx.net or send me a whattsapp to +4917650042421
Thank you
Kind regards,
Andreas Laubach from Germany
Hi Andreas,
Iām sorry to hear about the issues youāre facing with withdrawing your funds from MBTC. If theyāre not responding to your emails, thatās certainly a red flag. Unfortunately, I donāt have a physical address for MBTC, and it might be difficult to find if the company isnāt being transparent.
In terms of taking action, you should definitely file a complaint with the U.S. Securities and Exchange Commission (SEC) if you believe MBTC is operating fraudulently. The SEC has the authority to investigate and take action against companies that are not complying with U.S. securities laws. You can submit a complaint online through the SECās Investor Complaint Form.
Additionally, you might also consider reporting this issue to the Federal Trade Commission (FTC) and the Commodity Futures Trading Commission (CFTC), as they also oversee financial activities in the U.S.
However, please keep in mind that the recovery of funds from scam brokers is an extremely complex procedure, and the chances of success are rather low. I would recommend checking the following article where we have collected a few things you can try to get your funds back: How to Recover Your Funds When Scammed.
Also, please keep a detailed record of all your communications with MBTC, including any attempts to withdraw your funds, as this documentation will be important if you pursue legal action.
Feel free to reach out if you need further assistance, and I hope this helps in resolving your issue.
Best regards,
Andris
Dear Andris,
thank you for your deatiled reply and all this information
Today I send all information to SEC - shall I send the same to the Federal Trade Commission (FTC)
and the Future Trading Commission (CFTC) or will the SEC inform this commissions ?
Will the SEC - from your experience - start an investigation at MBTC and force the managment to
withdraw my funds as they are listed in the withdraw list ?
Is there any information center or website to find out the adress and all information about MBTC
cause I like to know where the place of the business is ?
Appreciate your help and the way that we can take action against fraudsters.
Kind regards,
Andreas Laubach
Dear Andreas,
Itās great that you decided to submit your information to the SEC.
To answer your first question: Yes, itās a good idea to also file complaints with the Federal Trade Commission (FTC) and the Commodity Futures Trading Commission (CFTC), as these agencies have overlapping jurisdictions and may take independent action. The SEC will not necessarily forward your complaint to these other agencies, so itās best to contact them directly to ensure the issue is reported through all relevant channels.
Regarding whether the SEC will investigate MBTC and force the company to release your funds, itās difficult to predict the outcome. The SEC does have the authority to investigate fraudulent activity and pursue enforcement actions. However, enforcement and recovery processes can take time, and there is no guarantee of an immediate resolution or forced fund withdrawal.
As for finding more information on MBTC, it can be challenging if the company isnāt transparent. Unfortunately, there isnāt one specific website that will provide all the information you need. I would recommend searching across various online sources, including FINRAās BrokerCheck, regulatory warnings from authorities, and scam reporting websites. This broader approach might help you gather some key details about the companyās operations and any potential red flags.
I hope this helps. Please let me know if you have any further questions.
Best regards,
Andris
Dear Andras,
thank you for your emphatic words ā¦
Yes SEC told me that MBTC.ai is not regulated but anyway they keep my funds of 2.6 Million USDT !
So today I send an inquiry to SEC to tell me where in the USA this company is cause MBTC.ai must
registered as a company in a state so I ask to send me a list or a register of mediators or arbitrators
who will get in touch with MBTC.ai to solve the problem to pay out my funds !
This MBTC manager Gordon Cameron told me 3 weeks ago, that MBTC is under investigation of the
broker I worked with and so it takes time to open my account to withdraw my funds -but how long
will it take ?
I think a mediator or arbitrator will clear this
Kind regards,
Andreas
Hi Andreas,
Itās good to hear that the case is moving forward. I wish you the best of luck in resolving this issue and recovering your funds.
Kind regards,
Andris
Hi Andris,
yes now I have the situation that two brokers donĀ“t pay out my funds
The SEC and the goverment must find stronger rules to save the investors from such brokers
All brokers need to be registered at SEC otherwise they are not allowed to do any business !
Hope they can send me mediators or arbitrators to get in touch with the brokers that they pay-out
otherwise they have to close these kind of companies !!
kind regards,
Andreas
Dear Andris,
is there a register - register online ? - to see all details of brokers in the US
and also the unregulated brokers ?
I am looking for the adresses of lcpltd.pro and MBTC.ai in the USA.
And is there also a register of mediators or arbitrators in the different states
who can mediate between the investor and the broker to prevent long term
and expensive processes on court ?
Appricate if you can send me some information about that.
thank you
kind regards,
Andreas
Dear Andris,
so I come back to find the locations of both brokers but itĀ“s difficult to find
The SEC wants me to take an expensive lawyer or start an mediation and sended me a file
with codes of costs for the mediation that I need to study this this evening to find out how much
I need to pay without any confirmation that this will really help and sended me adresses of law schools.
So you mentioned the Federal Tade Commission (FTC)
and the Commodity Futures Trading Commission (CFTC)
Do you think they can help to find the addresses of both brokers - even if they are not regulated
but there must have a register of the company and a register/qualification as a broker !
In the brockercheck both are not listed and are not be find !
So maybe you have an idea to find these two companies - registered in the USA ?
Appreciate to her your ideas.
Kind regards,
Andreas Laubach
Hi Andreas,
The problem is that the ābrokersā you fell victim to are scammers operating a website looking like a trading platform, not actual brokers. Thatās why itās challenging to find information about themāthey are not registered with any regulatory body and operate purely as fraudulent websites. This is also why itās difficult for regulators and authorities to take action against them.
Unfortunately, there isnāt a single register for such companies, especially unregulated ones, as they are not officially recognized entities.
As for mediators or arbitrators, they typically handle disputes with regulated brokers. For unregulated entities, options are limited, and legal recourse is often expensive and uncertain.
I wish I could be of more help, but unfortunately, thereās not much we can do in this situation. If you have any other questions, feel free to ask.
Kind regards,
Andris
Dear Andris,
thank you for your open words - not easy to understand how scammers are operating like this
and nobody can stopp them or closing there companies after all this criminal activities ?!?!
So I am now investigating with FINRA and FTC to find the location of lcpltd.pro and MBTC.ai
From our point of view - who else can I ask, to find the locations of those ābrokersā cause they
must be registered as a commercial broker or investment company in the USA - is there a central
register, that I can ask for more information ?
Cause FINRA suggest me to open a mediation, but I think I do need the data of the broker, the
location and adress to fill out special online files on their website that they can start the investigation.
So I appreciate, If you can send me a website or a register, where I can search for their locations.
At brockercheck theyĀ“re not known, cause they are unregulated.
Thank your for your kind support 
sincerely,
Andreas
Hey Andreas,
I completely understand your frustration with the situation. Unfortunately, finding the locations of those ābrokersā most likely wonāt be possible because they arenāt legitimate companies. The belief that they must be registered as a commercial broker or investment company in the USA is a misconception. They are not registered anywhere because they are scammers, not actual brokers or investment companies.
These entities often use fake addresses, phone numbers, and other contact details to appear legitimate. As a result, itās unlikely youāll be able to find a real address for them because it doesnāt exist. This is precisely why these scams are so challenging to combatāthereās no physical or legal entity to pursue.
So unfortunately the register youāre looking for probably doesnāt exist.
If you have any other questions or need further assistance, please donāt hesitate to reach out.
Best wishes,
Andris
Thank you Andris,
for your open words ā¦
So tomorrow I will ask LCPltd.pro what they suggest to solve the problem to pay-out my funds.
Weeks ago, the force me to transfer 120.000 USDT (Tax) within 4 days - otherwise they announced
to call āaā authority and they will freeze my high capital !
So I will ask them to call this authority and I will suggest to call FINRA to mediate that they
see, that I do not have any fear.
As soon I get a reaction, I will let you know
Kind regards,
Andreas
Hey Andreas,
Yeah, scammers often use high-pressure tactics and request additional deposits claiming they are for withdrawal taxes, commissions, or other fees to release your funds. Unfortunately, paying these additional amounts will not help you get your money back and will only lead to further losses.
In addition, thereās no way a fraudulent business would ever interfere with authorities, so rest assured they wonāt freeze your capital.
I wish you good luck.
Best,
Andris
Dear Andris,
when I read your message it seems that I will never get my funds payed out - they keep them ā¦
So today I made a suggestion to pay out step-by-step and if they do not agree they can call
the authorities which they announced in july if I do not pay the tax - which can be no tax cause
I am a german citizen with no adress or company in the USA - I pay tax in germany !
They announced to call the US Federal Financial Security Administation and they will freeze my account?
If I look for this department I only find the US Department of Treasury - they do not care about brokers
or investors - theyĀ“re just responsible for the public spendings.
I do agree with that, if this will ever happen, cause than I have the chance to get my capital.
Now I will concentrate myself to find out where the location of the broker is - than I can talk
to the german police and US department of Justice, if they are really in the USA.
regards,
Andreas
Dear Andris,
today I received a response of LCP that they are in the United States -
Cause I made a suggestion yesterday to payout my funds step by step
So now I ask them to send me their complete adress in the States - letās see
how they react, cause they are unregulated
As I made my investigation to find LCP, I found a broker LCP in Cyprus
and sended them an inquiry, to find out, if this is the real one.
So I come back, if I have news
regards,
Andreas