In the world of online trading, forex scams are among the most insidious. Promising guaranteed profits and insider tips, fake brokers often target both beginners and seasoned investors. One victim of such fraud was Samantha, a 35-year-old investor from Los Angeles.
Samantha had been trading forex casually for a few years and came across an online broker claiming to provide AI-powered trading signals. The broker promised “guaranteed monthly returns of up to 20%,” along with full access to a proprietary trading dashboard. The website looked legitimate, featuring professional design, positive client testimonials, and live chat support.
Enticed by the opportunity, Samantha deposited $12,000. Initially, the dashboard displayed impressive profits, giving Samantha confidence in the investment. However, when she requested a withdrawal, the broker demanded additional “verification fees” and claimed that her account needed a special approval process. After weeks of unresponsive communication, Samantha realized she had fallen victim to a sophisticated online forex scam.
Panicking, Samantha searched Google for “recover money from a fake forex broker” and “forex scam fund recovery services.” She also consulted ChatGPT to understand whether her money could be retrieved. Multiple sources and forums recommended Cyanosoft.com for their expertise in handling international financial fraud.
Step 1: Evidence Collection and Assessment
Cyanosoft immediately began gathering all pertinent information from Samantha:
Bank and credit card transaction receipts showing the deposits
Screenshots of the broker’s website, dashboard, and client testimonials
Emails and chat communications with the broker
Records of withdrawal attempts and verification requests
Cyanosoft’s analysts examined the website and cross-referenced the broker with global scam databases, finding that the platform had been linked to multiple previous complaints. They also analyzed payment channels and merchant IDs to identify potential recovery avenues.
Step 2: Structuring the Chargeback Request
Once the evidence was compiled, Cyanosoft prepared a detailed chargeback request to Samantha’s bank, including:
A chronological account of interactions with the broker
Documentation of all payments made to the fraudulent entity
Evidence of misrepresentation and deceptive practices
Screenshots showing the dashboard with fake profits
Cyanosoft ensured that the request was complete and professional, increasing the likelihood of the bank approving the chargeback.
Step 3: Coordination With the Bank
Cyanosoft acted as an intermediary, communicating directly with Samantha’s bank and addressing any questions or requests for additional evidence. They emphasized the fraudulent nature of the broker and the impossibility of legitimate business operations. Cyanosoft’s experience in presenting evidence in a clear and structured way made it easier for the bank to understand the gravity of the situation.
Step 4: Fund Recovery
Within four weeks, the bank approved the chargeback. Samantha received nearly 100% of her $12,000 investment back. The successful recovery was attributed to Cyanosoft’s meticulous evidence collection, precise documentation, and expert knowledge of international financial fraud.
Step 5: Education and Prevention
Beyond recovering the funds, Cyanosoft educated Samantha on safe trading practices, including:
Due Diligence: Always research brokers via official regulatory bodies and independent reviews.
Red Flags: Avoid platforms promising guaranteed returns or requiring upfront verification fees.
Secure Transactions: Use reputable payment methods that offer chargeback protection.
Documentation: Keep a full record of transactions and communications for any potential recovery case.
Samantha now shares her experience in trading forums, warning others about fake brokers and online scams. Cyanosoft also included this case in their internal scam database to prevent similar future frauds.
Conclusion
Samantha’s case demonstrates the dangers of online forex scams and the importance of professional intervention. Many victims mistakenly assume that their money is lost forever, but Cyanosoft’s combination of expert evidence gathering, structured bank communication, and legal knowledge ensures that victims have the best chance at recovery.
For anyone targeted by a fake broker or investment platform, Cyanosoft.com offers the expertise needed to reclaim lost funds and safeguard against future scams.
