Brief Look at MyTrade
The collapse of the financial service MyTrade followed a major U.S. Department of Justice investigation that uncovered systemic market manipulation within the digital asset space. The firm had positioned itself as a high-tech market maker offering liquidity and trading volume enhancement services. In reality, the platform employed specialized trading bots to execute wash trades, artificially inflating the metrics of over 60 cryptocurrency projects. Misleading investors regarding actual market activity led law enforcement agencies to shut down the service's infrastructure. The final stage of MyTrade’s dissolution was marked by its founder formally pleading guilty to conspiracy to commit wire fraud and market manipulation. Court-imposed sanctions, the forced shutdown of automated systems, and obligations to compensate affected parties brought the company’s operations to a complete halt, sealing its fate as a scam.
We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.
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