2 CommentsInvestment Scams

Who is ELTFV?

ELTFV is an online trading platform, it claims to offer investment opportunities. However, upon closer inspection, several red flags emerge that indicate this may be a potential scam. In this comprehensive review, we will delve into the various scam activities associated with ELTFV and provide valuable insights to help you protect your investments.

🖥️ : Eltfv.com.

🚩 : Fraudulent Trading Platform.

ELTFV falls into the category of UNREGULATED platform. When choosing a platform, caution is warranted if the company lacks regulation by any overseeing agency. This should serve as a warning that your funds may not be secure, and there’s no protective regulatory framework. Unregulated entities can potentially abscond with your money without being held accountable.

How does the scam unfold?

Scammers employ persuasive tactics to convince you to make an initial minimum deposit. They entice with promises of doubling the deposit within 24 hours and similar claims. After obtaining the initial deposit, more experienced scammers may be brought in to extract additional funds. The cycle persists, but it is possible to put an end to it, even if you’ve fallen victim to their deceitful promises.

Is It Safe To Invest With ELTFV?

Dealing with an unregulated company like ELTFV increases the risk factor of your money. Once the money is deposited with it, it stops responding to the queries.. Therefore, we do not recommend you to invest money with ELTFV.

ELTFV

Red Flags and Scam Warning Signs

To help you identify potential scams, we have compiled a list of red flags and scam warning signs associated with ELTFV:

  • False claims and unrealistic promises of high returns.
  • Lack of transparency regarding risk warnings and hidden information.
  • Utilization of stock images and paid actors to portray fake staff members.
  • Illegitimate rules and policies for withdrawals.
  • Sudden unavailability of the broker or website downtime.
  • Changing identities and website URLs without notice.

Did that happen to you too?

🆘 Are you victim of scam? Fill the form below or Use our Chatbot and get a Free Consultation from CNC Intelligence Experts, they can assist you by investigating your case and tracing your funds. You should also contact your bank as soon as possible and let them know about your issue.

If you discover yourself in such a predicament, take the subsequent measures to recover your funds:

Maintain communication with the scammers: This step is vital, especially if you are seeking external assistance.

Promptly initiate a written withdrawal request: Act swiftly to formalize your request for fund withdrawal in writing. Be vigilant, as scammers may employ various excuses to delay the process.

Initiate a chargeback: If your payment was made through a credit or debit card, instigate a chargeback to effectively reclaim your money. This action underscores your genuine efforts to retrieve your funds.

For wire transfers: In cases where money was sent via wire transfer, issue a stern warning to the scammers about reporting them to the authorities. If necessary, follow through by composing a detailed letter to the regulatory agency in your country, outlining the fraudulent activities.

Post reviews on alternative platforms: Contribute to warning others by sharing your experience through negative reviews on various platforms. This serves as a precautionary measure to prevent others from falling victim to the same scam.

Unregulated and Suspicious Operations

Just like Silverinvest11, one of the primary concerns with ELTFV is its lack of regulation by reputed authorities such as CySec, ASIC, FCA, CNMV, and others. This unregulated platform operates without the necessary regulation, raising doubts about the safety of your funds. While regulation alone does not determine a scam, it is an essential factor to consider.

Conclusion

ELTFV fails to provide any information about its staff on its website and promise fake returns. These deceptive practices raise significant doubts about the credibility and trustworthiness of this platform.

We hope this review was helpful and gave you the information you needed.

If you have any more questions or requests, please don’t hesitate to contact us  here.

Comments (2)

  1. Little Sparrow

    Reply

    I’d like to share my first-hand experience with this exchange called ELTFV. I’ve been a member there for over 3 months, following the insights and trading signals of one “Professor Jamie Ng” with his “expertise” in the crypto world, global news and market trends. The whatsapp group did tradings led by this professor that generated handsome, “calculated-risk” profits over the weeks ahead. I had even withdrew small funds multiple times – no doubt to make you believe they’re legit for allowing you to withdraw your funds any time.

    ELTFV has its own account manager by the name of “Alex” that basically provided customer service. A “Ms Elva” that handles deposits from your bank into the exchange – the funds deposited were through a medium local shell company called “SY United Sdn Bhd” or any ghost construction company websites. They even produce “legal” documents to legitimize your huge withdrawals from your bank into the exchange.

    I reserved my suspicions for this exchange only to be masked by false senses of security and confidence. What started with a single deposit investment of RM15,000 soon grew to RM50,000, then RM100,000 through consistent trades – you get the idea.

    Then the true crime starts to unfold – somewhere from May onwards, the exchange released a “new coin subscription” that generated ten-fold profits for its users. Basically, the larger your capital, the larger your profits will be thus, “Professor” often advised to go all out and empty your personal bank accounts to deposit and win HUGE in the exchange. I can’t imagine those who did.

    Suddenly the exchange was “hit” with an “illicit funds” issue whereby user’s funds were frozen due to cooperating with an investigation with FinCEN or other overseas government institutions. We were told a “Verification Fee” was needed to be deposited to review one’s account of any black money laundering. Once that was done, withdrawals may proceed as normal. Soon after I had deposited and completed said processes, a “handling/conversion fee” was presented out of the blue, including requesting for my bank account number, my name and bank name to transfer the extra fees. Immediately, my worst fears came true that this was the pinnacle moment for scammers. I instantly cut my losses, blocked them and left the group but I do condemn these dogs to burn in the deepest pits for their inhumane nature.

    It’s too late for me but perhaps my post may shed some light on unsuspecting people, looking to gain quick profits to change their life around. I will tell you personally, that is a false dream..unfortunately. In that whatsapp group, it’s hard to tell who’s genuine and who are the paid actors that instill false confidence that everything will play out right.

    ELTFV has been flagged by the Securities Commision for operating digital asset exchanges without legal registration.

    The exchange will most likely close and I consider my funds in there to be a lost cause – however, Professor had mentioned he’d be switching to a different decentralized exchange, possibly to lure in more unsuspecting victims.

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