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I have invested in a company called thomastradingservices (link removed) and got profit. Now to withdraw they say I need to buy bitcoin worth 20% of the profit and send it to their wallet to receive the withdraw to my wallet. Does anyone know this company and is it trustworthy? I feel like I lost my investment and if I go through with this I would lose a ton of more money.

UPDATE 03-16-2021 This is the guy i am in contact with https://brokercheck.finra.org/individual/summary/3174210#timelineSection

Ivar
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3 Answers3

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This has all the red flags of a scam.
(1) You shouldn't have to pay money to withdraw money from your account.
(2) it is extremely uncommon and suspicious to ask for fees in bitcoin, a completely irreversible transaction that hides their identity.

I'm pretty sure your money is long gone. Chalk it up as a life lesson and move on.

Update: I looked at their website and they seem to be VERY focused on crypto, so the bitcoin thing might not be as much of a red flag. But it says in black and white on their FAQ "No, there are no fees for withdrawal."

Their site seems very fishy. Especially the part where their FAQ prominently asks the question "Is this legal" and gives a hand wavy answer.

JohnFx
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I don’t know anything about them, but any organization which claims to require payment of funds before allowing withdraw of funds is quite obviously a scam.

Assuming that a 20% withdraw fee was required, a legitimate company would simply issue you a check (or Bitcoin) in the amount of your current balance - 20%.

There are two reasons to require payment for withdraw, to get one last bit of money out of the victim and to keep the victim from realizing they are a victim as long as possible by making them reluctant (or even unable) to make a withdraw.

jmoreno
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It's a scam. Here are some basic checks you can do:

  • Check an official record if you can. In the UK we have a Companies House. Company with id 11712123 is a different company and it is dissolved.

  • Check whois record. OK, Panama, NameCheap, Inc - doesn't sounds reliable

  • The website shows last 10 deposits in the source code with the names. No reputable company will do this:

    .

oleksii
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