| Name of Complainant | |
| Date of Complaint | August 19, 2023 |
| Name(s) of companies complained against | METAVERSE FOREIGN EXCHANGE GROUP INC |
| Category of complaint | Investments |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
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Hello,
As per now there should’ve been lots of complaint with the same matter. I was also one of the victims of this scam. First I was cautious. Then with it’s registration and all, tried to believe in the company. Lucky for me my assets had only 85 USDTs and was new to this platform of AI trading that too only for past one month. There are also so many unfortunate people who may have deposited large sums of money in this platform. Also hard earned and borrowed money. However it may seem that these people may not have particular skills for technical analysis of the various market fluctuations, that doesn’t necessarily mean that they should be scammed from a humanitarian and an ethical standpoint of view.
MTFE can object based upon their terms and conditions quoting “financial risks” and “unguaranteed returns”, but still this is not an exclusion for a fake and illegal masked transaction to their beneficiaries. Because:-
1) The transaction out and into the wallet and assets were barred from previous month claiming that an update is going in the system. This froze the transactions and the people could only hope for re establishment.
2) One week before, the returns per AI trade increased considerably, leaving out an opportunity for suspicion.
3) The trade was done without the consent (switching the ai trade button manually) of the traders. The button was automatically switched on for all.
4) An unusual asset XGC was chosen for trade and putting the reason as large unstable market conditions.
5) The trade should stop as the assets reaches zero. The balance not only reached zero but also gone into negative and which is not feasible in any trades.
All these point to a planned and covered scam but which was not well established and the loss could never be attributed to any trades done that day because everything has been fabricated as evident as day. The amount collectively scammed from people was massive. This puts authorities like you guys at commitment who have more legal access and resources unlike individuals have. Some need I put forward are:-
1) Conduct a thorough investigation into the matter and expose those who are behind it.
2) Revoke the license of the company.
3) Take legal action against the company.
4) Take down the application from play store.
5) And if possible impose a fine and redistribute the money to the traders.
No voice should be left unheard and no one should be denied justice. A large group of people should not suffer for the undeserved well being of a small group.
Thanks for taking the time to read. Hope to hear from you guys soon
PS: Adding some messages and some notices that came in the WhatsApp group both forwarded by members they got from customer care, except for the messages by a profile named Tina(+852 9750 0822) who i think is one of the persons behind the scam.
[25/07, 11:36 am] +852 9750 0822: Attention everyone, MTFE will be forced to update today and tomorrow, and those who have not yet updated should hurry up to update. After the update, both recharge and withdrawal can be resolved faster. and account security can be improved
customer service response;
In order to optimize the service experience and provide you with a better trading environment. The software will be updated today and tomorrow, please notify members. After the update is completed, the problem of deposit and withdrawal delays will be greatly alleviated.
The easiest way to update is to uninstall, go to the Apple store or Google store to re-download the latest version
[04/08, 8:02 pm] +852 9750 0822: important Notice! ! !
MTFE
Server upgrade notice:
In order to optimize the service experience and provide investors with a more convenient and smooth trading environment, the server upgrade time is from GMT+8 08:00 on August 5th to GMT+8 12:00 on August 6th.
During the server upgrade period, the official software will not be able to log in temporarily. If you hold positions, it is recommended that you close the positions in advance to avoid unnecessary risks caused by large market fluctuations during the server upgrade period.
The server is being updated, please be patient. After GMT+8 12:00 on August 6, the server upgrade is completed, and recharge, transfer, and transaction resume.
India
05:30 am on August 5th – 09:30 am on August 6th
united arab emirates
04:00 am, August 5th – 08:00 am, August 6th
nigeria
01:00 in the morning of August 5th–August 6th
Tanzania
August 5th, 03:00 am–August 6th, 07:00 am
[10/08, 3:11 pm] +91 90482 26529: Sir, according to the feedback from the technical department, since the server has just been upgraded, this has caused a large number of uncleared traffic logs in the old configuration of the system, resulting in low efficiency in sorting and processing deposit and withdrawal orders. At present, our technical team is working tirelessly to solve this problem. We implore all affected users to wait patiently. The exchange will sort and verify the withdrawal orders according to the normal process, and all orders will be successful.
[10/08, 3:11 pm] +91 90482 26529: As for the withdrawal delay, I have received feedback from a lot of players. The withdrawal system is only delayed at present, please be patient if it is not reached, every withdrawal will be reached gradually, this is not the first time we have encountered such a problem, please give some time and let us continue to start AI trading ✊✊✊
[11/08, 1:31 pm] +852 9750 0822: Good afternoon everyone, I’m Tina. Recently, due to the problem after the server update of MTFE, the withdrawal to the account has become very slow. The response from MTFE’s customer service is that the technical department is solving it. The current withdrawal method is manual withdrawal. Press the button below It is required to fill in the withdrawal information and send it to the review officer or customer service department of MTFE. MTFE will manually process the withdrawal order, just wait patiently. It is estimated that the account will arrive in 1-3 days. We have used MTFE for so long to believe MTFE, don’t forget the mission, give MTFE some time to deal with it, and deal with it calmly. Let’s look forward to a better tomorrow
MTFE ID:
MTFE deposit TRC20 address:
quantity:
Transfer date:
Time (GMT+8 time zone):
MTFE auditor number;
①https://wa.me/18582525916
②https://wa.me/17606437706
MTFE customer service number
① https://wa.me/19363153734
② https://wa.me/14425159069
③ https://t.me/customer_service0002
[12/08, 2:43 pm] +91 90482 26529: Sir, the technical department has repaired it, and it is expected to resume system withdrawal next week. Manual withdrawal will take time
[17/08, 1:54 pm] +91 90482 26529: With regard to the issue that few accounts’ transferring from the assets to wallet were rejected by the system:
The server was fully upgraded on August 5th, according to the feedback from the investors and the technical department’s confirmation with the exchange, it was found that some accounts were not recorded and identified by the system during the server upgrade process.
As a result, these accounts were not entered into the system, so when they transfer from the assets to wallet, the system can’t recognise and the withdrawal can’t be dealt automatically by the system.
The exchange’s server will be fully upgraded this week, then all accounts will be re-tested and recorded into the system.
Before that, the system needs to conduct a preliminary check on all accounts, so today few accounts’ transferring from the assets to wallet were rejected by the system.
Sorry for the inconvenience, after the Exchange’s server is fully upgraded, all the brokers’ investors’ accounts will be recorded and identified, then the transfer from the assets to wallet will be recovered.
Image Uploaded by Adharsh Vasanth: