NYBOT Global Victim Trapped in Endless Payments

Forex broker NYBOT Global has recently come under fire as clients continue to file complaints, with the latest report involving an inability to withdraw funds. This complaint comes from an Indian trader who recounted his unfortunate experience, which began after he befriended a woman on the dating app Tinder. This echoes the pig-butchering tactics previously exposed in an NYBOT Global fraud incident by BrokersView.

The woman instructed the trader to trade via the website https://m.nybotglobalfx.com to make “profits” after convincing him by demonstrating how she made weekly profits through trading. She also recommended the trader download Bitget, a crypto trading mobile app, to buy USDT and then transfer these coins to NYBOT to start trading.

After several months of investing with NYBOT Global, the trader attempted to withdraw funds but was told to pay a tax first. The fee, purportedly for “tax verification”, demanded 15%-50% of the trader's transaction income from his NYBOT account. The broker falsely declared that this requirement was from "the international tax department (State Administration of International Taxation)."

This so-called "State Administration of International Taxation" is a fabricated authority. Tax authorities are typically government entities, and there isn’t an international tax authority. Scammers often create fake organizations or authorities to mislead people and trick them into sending money.

After the client paid the amount (1,406 USDT), NYBOT Global informed him that the “tax verification” had failed due to his repeated withdrawals. The client was asked to pay the same amount again, which he borrowed money to pay.

This time, NYBOT Global claimed the "tax verification" had passed, and the client's withdrawal was approved. However, the client still couldn’t receive his funds because the broker provided another false excuse, stating that the withdrawal message displayed a "detection error," causing the order to be frozen.

In a repeat of their deceptive tactics, NYBOT Global then demanded an activation fee of $3,000 to ensure the client's funds would be transferred to his TRC20 address. Unable to afford this amount, the client remains helpless and unable to withdraw any funds from NYBOT Global.

NYBOT Global client’s account details showing a balance that can’t be withdrawn

If the client made this payment, it is highly likely that NYBOT Global's demands for various "fees" would continue indefinitely. Scammers never allow their targets to withdraw funds successfully, except for initial small amounts, in some instances, designed to convince them of the scheme's legitimacy.

Endless reassurances of immediate withdrawals once payments are made are also a significant red flag of a scam. In this case, NYBOT Global guaranteed the client, "After the tax verification is passed, all funds can be withdrawn together to your personal wallet address," "Once the tax verification is approved, we will notify you immediately to withdraw your funds, " and "After successful activation, all funds will automatically arrive at your TRC20 address within 2 minutes."

The facts have proven that these promises are nothing but fraudulent tricks exploiting urgency, pressure, and people’s fear. Such tactics are commonly used by scammers to deceive and manipulate victims.

So far, we have released multiple alerts on NYBOT Global. Be sure to stay away from this broker, as numerous traders have fallen victim to the scam.