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