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Anzo Lim

Korean Blogger on NAVER is Suspected of Forex Fraud

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In speaking of investment, broker scams in forex trading seem to be a recurring theme. As with many industries, the fast growing forex industry also has plenty of predators, who look to take advantage of newcomers. The following story is shared by a Korean investor who sought WikiFX’s help after being defrauded by Robinhood. He reported the illegal broker to warn other investors against it.


Victim: anonymous

Account balance: 3 million KRW

Illegal broker: Robinhood


IB information:

NAVER blog name: 이동민 전문 개인투자자 (Investment Expert Lee Dong-min)

KakaoTalk ID: dm8068

Tel: 010-2353-8068


I got acquainted to a blogger named Lee Dong-min by chance on NAVER, the largest web portal in South Korea, and I was drawn to the content of his financial planning posts. Through chatting online, I learned that he was a professional investment adviser and led a wealthy life. Lee Dong-min chatted with me every day around 12pm, teaching me how to invest and promised that he could help me get rich.


Eventually, I was coaxed into investing on a forex platform called Robinhood, which was recommended by Lee Dong-min. He suggested me to invest 3 million KRW at the beginning for 15 days to 24 days. As I knew little about forex investment, I followed his instructions step by step and deposited 3 million KRW to my account successfully, with the hope of making great profits.


But within a month after I made the investment, my account became unavailable, while Lee Dong-min's blog also disappeared coincidentally. I tried to contact him by phone, but his phone was turned off all the time. Only then did I realized it was totally a scam! Investors should watch out for this illegal broker and beware of its tricks.


According to WikiFX App, Robinhood is unregulated at the moment and is rated at only 1.31. If you feel you are being scammed, contact us at wikifx@wikifx.com for assistance to recover your money. You can also download “WikiFX App”, a broker inquiry app, at Google play or apple store to conveniently check regulatory status of brokers worldwide and better protect your asset safety. 

Edited by Anzo Lim

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Actually, it's possible to fraud in such fields as Forex. It is harder to do the same in Crypto, for example, but Forex is a trash where every second schoolboy is trying to make millions. That is the exact reason why all those schemes are possible. When it comes to crypto, dogecoins, bitcoins, it’s more serious. You need a wallet; you have to be ready to learn a lot of information. That is why a lot of serous people are delegating this crypto marketing thing to agencies like insiderlearningnetwork.com that are taking care of their crypto for a small amount of commission. It’s good that we have such companies because you cannot have time always for a thing like analysing the market.


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