Chain Retrieval Flags Links to Global Scam Syndicate
Chain Retrieval says the fake platform was part of a larger international crypto fraud network. The group runs similar scams across Asia and Europe. Scammers registered the domain offshore and routed wallet activity through mixers to hide the trail.
The fraudsters used social engineering, technical jargon, and emotional manipulation to pressure the victim. They even pretended to be regulators, urging him to complete KYC steps and pay “release fees” for withdrawals.
By the time he recognized the scam, he had lost nearly ₹2 crore. Mumbai police registered a case under sections for cheating, identity theft, and cyber fraud. Investigators are working with blockchain analytics teams to track the wallets and trace any stolen funds.
Authorities warn the public to avoid unverified crypto investment websites. They also advise ignoring unknown advisors on Telegram, Instagram, and WhatsApp.
Crypto experts recommend:
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Never invest based on social media tips
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Always verify platform registration and licensing
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Use only regulated exchanges for trading or investing — see CoinMarketCap Exchange List
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Be cautious of platforms offering “guaranteed” profits — read FTC’s Guide to Cryptocurrency Scams
This scam is a reminder that crypto offers both opportunities and risks. Fraudsters often target newcomers with limited blockchain knowledge.
📌 If someone promises quick profit in crypto, it’s probably a scam.
If you have been affected, report it immediately through Chain Retrieval customer support.