Is reporting to the CFTC useful for recovering funds from a fake investment platform scam?
Hey everyone,
I'm David from Stuttgart. I recently got caught up in what I now realize was a classic 'pig butchering' scam. I put a significant amount of Bitcoin into an investment platform they recommended, which looked legitimate at first, even had fancy charts and everything. They promised insane returns, and of course, when I tried to withdraw, the platform locked my account and demanded more money for 'taxes' or 'fees'. It's all gone now, about 0.8 BTC.
I've reported it to the local police here, but honestly, they seemed a bit out of their depth with crypto. Someone mentioned reporting to the CFTC since the scam involved futures/derivatives trading on their supposed platform. I'm wondering if anyone has had any success or even just experiences with reporting these kinds of crypto investment scams to the CFTC? Does it actually lead to any recovery, or is it more about building a case against the scammers for future action? Any advice would be appreciated. Feeling pretty distraught.
asked by David Richter· 3d ago