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On Thanksgiving Day, I fell victim to a sophisticated Deriv trading scam that initially promised significant returns but ultimately left me unable to access my funds. The scam began when I was contacted by an admin from a Telegram group with 400 members. The group participants were sharing trading strategies and success stories about profiting from signals provided by the group's leaders. Intrigued by their claims of high returns and the apparent transparency of the group, I decided to join.The scammers introduced me to a 45-day investment cycle, assuring me that at the end of the period, I would be able to withdraw my initial investment along with any profits. Trusting their process, I transferred $43,000 in several wire transfers to start my account. My balance grew quickly, and within a short time, my account had ballooned to $500,000. Everything seemed to be progressing as promised, and I was encouraged by the steady returns. However, things began to take a turn when I attempted to withdraw my profits. I was told that I couldn’t access my funds until I paid a supposed “tax” on my earnings. This tax requirement had never been mentioned when I initially joined or made my investment, so I grew suspicious. When I questioned the legitimacy of this fee, I received evasive answers and delays.
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