SCAM ALERT

A Call for Action: Exposing the TrendeNest777 Online Trading Scam

On February 7, 2025, I fell victim to a sophisticated online trading scam perpetrated by a platform known as TrendeNest777. This harrowing experience has not only caused significant financial loss but also serves as a stark reminder of how online fraudsters exploit unsuspecting individuals through manipulation and deceit. I am sharing my story to raise awareness and call for urgent action from authorities and financial institutions.

How the Scam Unfolded

The ordeal began with what appeared to be a simple trading task. The platform offered two categories of tasks: employee tasks, which earned less, and merchant tasks, which promised significantly higher returns. Tempted by the potential gains, I participated in a merchant task that required an initial investment of ₦60,000.

Upon completing the first task, I was encouraged to proceed to a second one, requiring an additional ₦180,000. I was assured that I would earn a total of ₦312,000 after completing this task. However, the scam unfolded when I was informed by the platform’s instructor that I had failed to "click the product twice," resulting in the freezing of ₦90,000 of my funds.

When I inquired about recovering the frozen funds, I was told that a merchant would send me a link with two new product options: one costing ₦500,000 and another ₦2,000,000. Trusting the system, I opted for the ₦500,000 product, which promised to return a total of ₦1,062,000, including all previous investments and commissions. Sourcing the ₦500,000 placed me under immense financial pressure, forcing me to borrow the amount from my mentor, with a promise to repay by Sunday, February 9.

Later that evening, the platform delivered another shock. I was informed that as a new trader earning above ₦1,000,000, I was required to pay a 40% "consumer tax" of ₦424,800 to unlock my withdrawal. This payment, they claimed, was refundable and would allow me to withdraw a total of ₦1,487,800 (₦1,062,000 plus the ₦424,800 tax). However, I lacked the funds to pay this additional amount.

Currently, my dashboard shows a "refund pending transaction," but I fear this is yet another manipulation. The assigned "receptionists," Alina Cole and Mr. David Johnygo, insist that the funds can only be withdrawn after the tax payment, offering no clear timeline or assurance.

Steps Taken to Report the Scam

Recognizing the signs of fraud, I took the following steps to report the incident:

1. Moniepoint Microfinance Bank: I reported the account details used for the fraudulent transactions to Moniepoint's fraud desk via email at frauddesk@moniepoint.com.

2. Opay Security Center: Since the initial transfer was made through my Opay wallet, I also reported the case to Opay's security team via email and their mobile app.

3. Awaiting Investigation: Both financial institutions have acknowledged my complaints, and I await the outcome of their investigations.

The Emotional and Financial Toll

This experience has left me emotionally drained and financially strained. The pressure to source funds, combined with the manipulative tactics employed by the scammers, created immense stress and uncertainty. The loan I took in good faith now weighs heavily on me, as I fear I may never recover the money.

A Call for Action

This case highlights the urgent need for:

1. Increased Awareness: Public education campaigns should warn individuals about the tactics used by online trading scams.

2. Stricter Regulations: Authorities must strengthen oversight of online trading platforms to ensure their legitimacy and hold fraudsters accountable.

3. Faster Response from Financial Institutions: Banks and payment platforms must prioritize swift investigations and recovery of funds in fraud cases.

4. Support for Victims: Victims of scams should have access to support services, including legal advice and financial counseling, to help them recover from their losses.

A Warning to Others

I urge everyone to exercise extreme caution when engaging in online trading. Verify the legitimacy of platforms, avoid high-pressure tactics, and never invest more than you can afford to lose. If you suspect fraudulent activity, report it immediately to the relevant authorities and financial institutions.

Let this story serve as a wake-up call. Together, we can expose these scammers and protect others from falling victim to their deceit. If you have experienced similar scams or can offer advice, please reach out. Let’s stand united against fraud and demand justice for all victims.