Consumer complaint received 2024-12-06 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: JPMORGAN CHASE & CO.
State: NY

Complaint narrative:
In XXXX of XXXX, I was approached on XXXX XXXX and then established a chat on XXXX. first from a woman who wanted to teach me how to make money in the crypto market. I was given access to a platform that looked real and she showed me how to log in and establish an account. My first deposit was through a cash app and was first {$2000.00} She walked me through trading steps by using wattsapp and sharing screen shots back and forth. She set me up with an invitation code to an exchange called XXXX or XXXX or XXXX and started to guide me to trade XXXX using XXXX, delivery or spot trading modules. I followed her instruction and it seemed to work. My account was growing so I thought. She then suggested I add more capital to be able to handle the ups and downs of the trade insuring a better profit response. I wired {$7000.00} then {$22000.00} to two different banks and started to see results ( as if they were real ) She won my confidence and then share a " a teacher '' with me who was a real pro or the analyst who was going to make me a millionaire within 30 days. I was to contact him on telegram. I have the saved conversations. He seemed very smart and convincing, and he wanted me to send more money, but I was not going to send more money. He called the woman XXXX, but she told me her name was XXXX. XXXX told me that her " team '' would help me by adding their {$40000.00} to the account to increase capital to make higher profits. I didnt understand how because it was my account, and I did not share the password but it seemed to be a nice effort. She was able to get in and make that deposit. After trading signals and steps dictated by both the teacher and XXXX, the account showed a balance of about {$130000.00} in capital. They continued to pressure me to add more, or I couldn't trade. It would be too risky, so I decided to withdraw the capital and it didn't work. They were very upset accusing me of trying to steal their investment as well. I assured them I would send them their share once I had the funds. I did not know what the procedure was. There was a help chat on the platform and that started accusing me of money laundering in accordance with XXXX regulations which I did not understand, they locked up the account and removed the capital and then insisted on and a business insurance policy that they would provide because the account was affected by a third party. They promised that I had to pay 20 % of the total capital as an insurance fee and then the funds would be released back to me by wire as would the fee. When I consulted my XXXX XXXX  advisors, one pretending to be a very famous professor from XXXX XXXX  and other serious credentials they advised me to follow the XXXX  customer service orders. I was skeptical but I felt pressured and paid the fee with a wire to another bank. Nothing was released and then they insisted on my bank statements and wire verification for every deposit I paid to prove my funds were correct. I complied because I had nothing to hide. It wasnt good enough. They notice the XXXX additions that were sent through crypto wallets straight to the account. I had the voucher pictures but not the crypto statements they were looking for. When I asked the 2 advisors for those documents, they refused due to privacy concerns of their investors. Thats when I realized I was scammed big time. They are still sending me customer service text messages and repeating the same requests but now they want more fees to release the funds. They closed the account and I never heard from them again. The insurance form they sent to me had a forged signature of the Attorney General of XXXX. Shameful. Funds were transfered by wire to several bank sites they provided direclty from my bank accounts with Chase Bank.

Company response to consumer: Closed with explanation