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OlympTrade and OlympTrader with Visepoint and Wallfort

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The UK Financial Market Authority (FCA) has issued an investor warning against the broker scam OlympTrade a/k/a OlympTrader. Saledo Global LLC allegedly operates the scam with partners VISEPOINT LIMITED in Malta and WALLFORT LIMITED in Cyprus. The two companies apparently act as payment processors for the scam, which is active with the domains http://www.olymptrade.com and http://www.olymptrader.co.uk. Currently, victims can lose their money using deposits via bank transfer and cryptocurrencies.

The OlympTrade scam is apparently very active on Facebook and YouTube. The Facebook page has collected likes from about 1.3 million users; the YouTube channel has more than 200k subscribers.

On the Bitcoin(BTC) address we discovered 1P3qs1r7Gy7wxDso8oZEhHnjSsUeFDTSMH, victims have deposited around BTC 0.13 (equivalent to €5,300) so far. At the time of our review of OlympTrader, depositing via bank transfer was no longer possible. On its twin site OlympTrade, registrations are currently no longer possible.

Stay far away from these easily recognizable broker scams. If you have any information about the operators of the scam or the supporting partners, we would be happy if you share it with us.

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