Bitcotel – Withholding client funds; upfront payments required for withdrawals

We are aware of an investor who has invested with Bitcotel and is unable to withdraw money they invested.

Upfront payments are required for processing withdrawal requests, which is one of the characteristics of advanced fee scams.

We recommend caution when dealing with trading platforms or entities that require upfront payments for withdrawing investments. They often give reasons such as tax requirements, anti-money laundering verification etc to convince investors to make additional payments.

Entity name: Bitcotel
Website: bitcotel.com
Email: [email protected]