TrustWallet Lost COCOS Failed ADA Transfer monsieurgil
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Reddit user monsieurgil lost funds when transferring from Binance to Trust Wallet, and when doing a swap through Trust Wallet. They first sent their COCOS tokens via the wrong chain to the Trust Wallet, and subsequently proceeded to send ADA tokens in 4 batches to a Trust Wallet swap service. It is unclear what the end outcome will be and whether their funds will be recovered or not.
This is a global/international case not involving a specific country.[1][2]
About TrustWallet
"I transferred my coins to Trust Wallet because of Binance recommendations and the reviews l read were positive. WHAT A MISTAKE! They scammed me of 20000 coins by the time l finally was able to get out of there. They let you transfer in easily...but the first mishap happen on the transfer in with COCOS coins....10000. From Binance l transferred to a BEP2 platform instead of an erc20... Trust Wallet don't have a BEP2 platform...they have for every other coins but not COCOS. Binance support told me because of the wrong sent it was up to Trust Wallet to return my coin to Binance. You wouldn't believe the non existent support of this wallet... I tried everything in emails to get them to help me reclaiming my COCOS...they didn't reply to any of my mail acknowledging to anything to do with COCOS...they sent "we strongly encourage you to visit a web site on a community blog". So 2 weeks later no COCOS...they are lost and l am helpless to regain them while l know they are at Trust Wallet. When l finally realized that these people at Trust Wallet were crooks l decided to get everything out of there but when you transfer in they don't tell you that you need BNB coins to get out to pay for the fees...so l had to go to Binance and buy both BNB coins...BNB and BNB smart chain coins...transfer them to Trust Wallet and then l could transfer out! I transfered all my coins out but they scsmmed me out of 10200 ADA coins on the transfer out! I sent out 18640 ADA coins in 4 batches...all sent within the same parameters, hashtags...2 batches didn't make it! I again got on their useless support and again l got nowhere. This is so frustrating, so stressing and so self depreciating to feel such HELPLESSNESS in dealing with supposedly a legit company! What am l to do to get back what belongs to me...? "STAY AWAY FROM TRUST WALLET""
"What's worse is that Trust Wallet is owned by none other then BINANCE...and they are in cahoot together to scam clients! I complained to the FTC about my nightmare and now over a month since to the complaint was sent and no response from them! My friends it's my belief that companies like BINANCE are committing fraud in grand scale...the government knows about it and does nothing to stop it! Just last week Gensler of the SEC admitted that regulations were required in crypto due to too many fraudulent occurrences! To form a group to bring Trust Wallet to court would be logical and they would the easiest to attain with their head office in San Francisco...however Binances head office is in Malta and eventually a court action against Trust Wallet would bring us to Binance. And now you see the logic of Binance having a head office in Malta...to discourage any court action against them! They have the perfect setup to scam...no telephone number anywhere to call...a pathetic support system where they only answer to what they want to answer! Meanwhile the CEO is glamorized of being the most brilliant innovator creating billions of wealth for himself and his cronies! How many are on the take to legitimize his scams is unknown...! To take Binance to court...one needs deep pockets and contacts that are powerfully motivated to go the distance with this matter of grand theft from a supposedly legitimate business!"
This is a global/international case not involving a specific country.
The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.
Include:
- Known history of when and how the service was started.
- What problems does the company or service claim to solve?
- What marketing materials were used by the firm or business?
- Audits performed, and excerpts that may have been included.
- Business registration documents shown (fake or legitimate).
- How were people recruited to participate?
- Public warnings and announcements prior to the event.
Don't Include:
- Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
- Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.
The Reality
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- When the service was actually started (if different than the "official story").
- Who actually ran a service and their own personal history.
- How the service was structured behind the scenes. (For example, there was no "trading bot".)
- Details of what audits reported and how vulnerabilities were missed during auditing.
What Happened
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
| Date | Event | Description |
|---|---|---|
| February 18th, 2021 8:31:31 PM MST | Reddit Post | Incident is posted on Reddit. |
Technical Details
This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?
Total Amount Lost
The total amount lost has been estimated at $27,000 USD.
How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?
Immediate Reactions
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?
Ultimate Outcome
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?
Total Amount Recovered
There do not appear to have been any funds recovered in this case.
What funds were recovered? What funds were reimbursed for those affected users?
Ongoing Developments
What parts of this case are still remaining to be concluded?
Individual Prevention Policies
No specific policies for individual prevention have yet been identified in this case.
For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.
Platform Prevention Policies
Policies for platforms to take to prevent this situation have not yet been selected in this case.
For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.
Regulatory Prevention Policies
No specific regulatory policies have yet been identified in this case.
For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.
References
- ↑ Trust Wallet SCAM : binance (Dec 27, 2022)
- ↑ monsieurgil comments on Trust Wallet SCAM (Oct 23, 2023)