Beefy Coin Ltd: Withdrawal Caused Account to be Locked?!

Beefy Coin Limited | 2022-09-16 12:00

Abstract：The decentralized currency market is a massive goldmine for many. While retail traders attempt to make a life-changing amount of profit from this largest and most liquid financial market, there are also unethical syndicates attempting to target them as their easiest prey.

Beefy Coin Ltd is a Hong Kong-based broker that offers the trading of forex pairs, commodities, and cryptocurrencies.

Although Beefy Coin Ltd asserts on its website (https://www.bfy-c.co/) that it is an award-winning broker, WikiFX discovered that it is neither regulated nor holds a valid license.

Therefore, WikiFX gave it a low score for the high level of underlying risk that it may possess.

Todays article focuses on a withdrawal complaint that was submitted by a victim of Beefy Coin Ltd named Bruce.

The client intended to withdraw 1,000 USD from his account, but he discovered that this triggered Beefy Coin Ltd to lock his account, causing the remaining 38,000 USD to be stuck.

He tried to contact Beefy Coin Ltd for help, but to no avail – be it via phone calls or email.

When Bruce realized that he could have been scammed by Beefy Coin Ltd, he quickly contacted WikiFX for assistance. The images attached below showcase the conversation that Bruce had with WikiFXs customer service representative.

Currently, WikiFX is actively investigating this case. More information will be provided should we manage to progress further.

Meanwhile, Beefy Coin Ltd had reverted to Bruce that they need him to pay a foreign exchange income tax of approximately 29,211 USD before they could grant his withdrawal request.

WikiFX would like to highlight to our users that when a scam forex broker has gotten to the extent of asking for additional fees and withdrawals, it is highly probable that you have already fallen into their traps. Do not proceed with any further payments to minimize your losses. Read this article here for more information on such a scenario: https://www.wikifx.com/en/newsdetail/202209079914856356.html.

If you have unfortunately been scammed by a forex broker, this article is going to be handy for you.

Stay calm and follow the instructions listed. Remember, you are never alone in this. WikiFX is always here with you.

Broker Forex trading Forex Broker

Related broker

Suspicious Clone

Beefy Coin Limited

Company name：Beefy Coin Limited

Score

1.39

Website：http://www.bfy-c.co/en

2-5 years | Suspicious Regulatory License | Suspicious biz area | High potential risk

Score

1.39

Australian Dollar Surges as Trade Surplus Hits 11-Month High: A Golden Opportunity for Forex Traders

Australia's trade surplus has surged to an 11-month high, reaching $5.62 billion in January 2025. The unexpected boost in trade surplus was primarily driven by a 1.3% month-over-month increase in exports, with non-monetary gold playing a starring role.

Original 2025-03-06 20:29

T&D vs AvaTrade: Which Broker Suits Your Trading Needs in 2025?

In this article, we compare these brokers based on basic information, regulatory status, leverage, trading platforms, account types, spreads and commissions, customer service, AI tools, and recent updates. Our goal is to provide an objective overview so you can decide which broker aligns better with your trading style and requirements.

Original 2025-03-06 16:51

FBK Markets Review 2025: Live & Demo Accounts, Withdrawals to Explore

FBK Markets, a young South African forex broker, targets both beginners and experienced traders within this region. This broker shines at its low minimum deposit required, 100% deposit bonus, and flexible account options, yet we cannot consider it reliable as it operates without any regulation. Furthermore, it features an approximately 70% withdrawal failure rate.

Science Popularization 2025-03-06 15:45

5 Arrested in the TriumphFX Investment Scam Investigation

Malaysian authorities have intensified their investigation into the TriumphFX foreign exchange investment scam, resulting in the arrest of five individuals linked to the fraudulent scheme.

Original 2025-03-06 14:07