Welcome to this article in which we take a look at a complaint and try to figure out who is the scammer. This time our hint is “Trust or Virgo.”
On March 19, 2023 we received a report from a person who claims being scammed for $60k. He writes:
I was advised to invest in an app called Trust or Virgo. I used a wallet to invest, but I am now unable to withdraw my funds. The investor is refusing to help me retrieve my money. I feel like I have been scammed.
Trust Wallet is a mobile app that serves as an official crypto wallet of Binance. You can send, receive and store Bitcoin and many other cryptocurrencies and digital assets safely and securely with this app. It also allows you to earn interest on your crypto, play blockchain games and access the latest DApps and DeFi platforms.
Trust Wallet is a legitimate app. However, like any other platform, it can be targeted by scammers who try to trick users into providing their passphrases or private keys. There have also been instances where scammers clone publicly available code of wallets like Trust Wallet and make changes to steal any funds deposited. It’s important to always verify the legitimacy of an app before using it.
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As for Virgo app, I found two apps with similar names on Google Play Store. One is called Virgoo – Discover & Tracking while the other is simply called Virgo.
Virgoo – Discover & Tracking app has a 3.9 stars rating based on 367 reviews. The app provides daily updates on the latest and most complete information and resources for games, apps, movies & TV, books, and kids. So we can probably scratch these guys off our list.
The Virgo app is an Indonesian financial management tool available for download on Google Play. It allows users to collect their shopping returns at select stores and use them for various purposes such as buying groceries, topping up game credits, purchasing phone credit and data packages, and paying bills. Users can also monitor their expenses and create monthly budgets.
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The app is licensed and supervised by Bank Indonesia and offers data encryption in transit. This also doesn’t seem to be a scam.
However, on the App Store we also discover an app called Virgo.
The Virgo app is a Canadian-based cryptocurrency trading platform that allows users to buy and sell various digital currencies, including Bitcoin, Ethereum, and Litecoin.
The app boasts zero trading fees and instant funding through Interac e-Transfer. It also offers 24/7 live support and has a user-friendly interface.
However, some users have complained about the app’s verification process taking too long and the lack of responsiveness from the support team.
The app is available for download on iPhones and Macs.
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The seller is VirgoCX Inc. from the Virgo Group of Companies.
VirgoCX is a Canadian cryptocurrency trading platform that offers affordable and easy access to digital currencies like Bitcoin, Ethereum, and Litecoin. It caters to both novice and experienced traders and provides the best buy and sell prices backed by superior liquidity and competitive spreads.
VirgoCX offers zero trading and deposit fees, instant funding with Interac e-Transfer, and 24/7 multilingual support. Customers can contact support via email or 24/7 live chat. VirgoCX is a registered MSB (FINTRAC) with the copyright of 2021.
The app for VirgoCX has received mixed reviews, with some users praising its ease of use and simple design, while others complain about slow verification processes, account restrictions without explanation, and poor customer support. Some users also wish for the introduction of additional currencies. However, some users recommend the app to others, and appreciate features such as free international transfers.
Could it be a scam though?
A year ago, VirgoCX warned users to be cautious of social media scam attempts and impersonators. They provide a list of their official channels including Twitter, Instagram, Facebook, Reddit, and LinkedIn. They also clarify that they will never provide investment advice and their employees will not contact users on social media individually.
Recent comments suggest VirgoCX is bankrupt and makes excuses for their insolvency. The commenter claims that they are owed $4,000 and there is nowhere to complain about the situation. Another comment complains about the lengthy registration and transfer process and a third comment mentions a withdrawal request that has not been fulfilled for two weeks with no response from customer support.
We discuss a report from a person claiming to have been scammed out of $60k after investing in an app called Trust or Virgo.
Trust Wallet is a legitimate app, but scammers can still target it.
VirgoCX is a Canadian-based cryptocurrency trading platform that has received mixed reviews, with some users praising its ease of use and simple design while others complain about slow verification processes, account restrictions without explanation, and poor customer support.
There have also been recent comments suggesting VirgoCX is bankrupt and not fulfilling withdrawal requests.
However, we’re still not sure through which app the complainer has been scammed – was this a Trust Wallet scam or a Virgo scam.
If you have lost a significant amount of money to online scams, do not lose hope. We can help you recover your funds!