Consumer complaint received 2025-06-04 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: NAVY FEDERAL CREDIT UNION
State: TX

Complaint narrative:
I first encountered XXXX through a XXXX XXXX XXXX frequently posts about coaching people in financial trading. Her engaging posts prompted me to interact with her, and through her consistent social media presence, I began to trust her and the investment opportunity she was promoting. 

Initial Introduction : XXXX XXXX reached out via XXXX, leveraging her reputation in financial trading coaching. Her persuasive online presence was the catalyst for my engagement with the investment opportunity. 

Contacts and Communication Channels : Primary Contact : XXXX XXXX ( Phone : XXXX ), who claimed to reside in XXXX XXXX, CA ( originally from XXXX ). 

Additional Contact : A customer service representative named XXXX on XXXX. 

Secondary Fraud Attempt : A person claiming to be from the " Official SEC Helpline '' contacted me from ( XXXX ) and later attempted another fraudulent transaction via XXXX. 

XXXX XXXX claimed that XXXX offered superior returns by combining cryptocurrency and stock trading. The promise was that this blend would generate much higher profits compared to other platforms. At the time, based on independent researchincluding positive online feedback and initial credibility indicatorsthe company appeared legitimate. 

I was asked to pay a {$1000.00} service fee in XXXX to facilitate a withdrawal of {$10000.00}. The payment was directed explicitly to the XXXX address XXXX. The instructions were to transfer the funds from my bank directly to my XXXX account, buy bitcoin and bypassing the setup of an independent wallet. All the transactions were made it in the same way. I paid with my credit card to cripto.com, and later I paid from my savings account that I received from my early retired from the XXXX, from my. All transactions were conducted exclusively on Crypto.com, using XXXX. XXXX XXXX XXXX : {$1000.00} was paid via XXXX to the specified address for a promised withdrawal of {$10000.00}. Initially, I was told there would be no withdrawal fees ; however, when I attempted to withdraw funds, I was then required to pay an extra {$1000.00} Bitcoin transfer fee. Funds were transferred directly from XXXX to the scammers XXXX address, as instructedwithout the intermediary use of an independent wallet. Despite making the payments, no subsequent processing or communication occurred. Instead, I received only minimal amounts labeled as referral bonuses over a period, which are documented as follows : My total financial losses exceed {$9700.00}, with only a recovery of {$300.00} via referral bonuses. The transactions were processed using my credit card, after which funds from my savings account were used to cover the subsequent paymentsresulting in the complete depletion of my savings. 

Before investing, I conducted thorough independent researchreviewing online feedback and company reviewswhich at the time appeared credible. The scam became evident when my attempts to withdraw the funds were met with non-responsiveness and additional fee demands. 
The investment companyPrecisionFXInvesting.comis associated with multiple addresses in XXXX, CA ; XXXX, VA ; XXXX XXXX, CA ; and XXXX, TN. This multiplicity of addresses further contributed to the ambiguity surrounding its legitimacy. Subsequent XXXX XXXX : After the initial scam was identified, another fraudulent attempt was made by an individual posing as an SEC representative. This person tried to scam me once again via XXXX, reinforcing the need for a comprehensive complaint. 

Attached all transactions with dates and amount : XXXX. {$310.00}, Date : XX/XX/year>. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXX/XX/year>.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation