Mexican Authorities Investigate Crypto Trading Bot Operation After Mass Complaints

TLDR

• Over 3,000 people in Tehuacán and Puebla, Mexico affected by suspected crypto trading bot scam
• Company AMG GPT shuttered four offices without warning
• Investors were promised guaranteed returns through crypto trading bots and daily payouts
• Around 100 people have filed official complaints with prosecutors
• Company blamed withdrawal delays on a “Shopping Festival” before disappearing

A suspected cryptocurrency trading bot scam has left over 3,000 Mexican investors unable to access their funds after the company at the center of the controversy, AMG GPT, suddenly closed its offices in the regions of Tehuacán and Puebla.

The company, which operated four offices across both regions, attracted investors with promises of guaranteed returns through cryptocurrency trading bots.

Investors initially reported making money through the platform, with some receiving daily payouts as promised.

However, recent developments have left many questioning the legitimacy of the operation. According to local media outlets Milenio and Moto Red Tehuacán, all four of AMG GPT’s offices – located on Tehuacán streets 3 Oriente, 2 Sur, and 3 Poniente, as well as 3 Poniente de Ciudad in downtown Puebla – have been abandoned.

The trouble began when investors started experiencing delays in their withdrawal requests. The company responded by implementing new requirements, telling users they needed to pay additional “verification fees” to access their funds. This raised immediate red flags among the investor community.

In what appears to be its final communication, AMG GPT attributed the withdrawal delays to a “Shopping Festival” event that would supposedly provide generous rewards for investors.

However, customers reported that this statement only created more confusion and failed to address their concerns about accessing their investments.

The marketing materials used by AMG GPT heavily featured well-known cryptocurrency names and brands, including Bitcoin, Dogecoin, Elon Musk, and references to established crypto companies like Binance and Crypto.com. This approach seemingly lent credibility to their operation in the eyes of potential investors.

According to victim testimonies, newer investors were convinced to contribute substantial sums, with many investing around $1,000 after seeing earlier investors receive returns.

The situation reportedly escalated when successful early investors began recruiting others to participate, promising returns of up to double or triple their initial stakes.

Around 100 affected individuals have now filed official complaints with public prosecutors. Some of the company’s supposed leaders have been identified, but they too claim to be victims of fraud, stating they don’t know who is ultimately responsible for the scheme.

The company’s disappearance was swift and complete. Not only were physical offices abandoned, but all associated WhatsApp groups and communication channels were also shut down, leaving investors with no way to contact representatives or access their funds.

In its last statement, AMG GPT claimed its financial department was reviewing accounts and cooperating with tax authorities to “clarify what happened.” However, investors report that all withdrawal channels remain frozen.

The case bears striking similarities to a recent incident in Argentina, where up to 20,000 people in San Pedro, Buenos Aires, fell victim to a USDT-themed scam that also promised guaranteed daily payouts.

Victims of the AMG GPT scheme were initially drawn in by a simple but effective strategy: they were invited to “buy” crypto trading bots for a set time period, with promises of regular returns. Many reported making money in the early stages, which encouraged them to invest more and invite others to join.

Marketing events held by AMG GPT in both regions helped establish their presence and build trust within the local communities. These events showcased supposed success stories and the potential for high returns through their trading bot system.

The timing of the company’s disappearance appears to coincide with a surge in new user registrations, suggesting a possible pyramid scheme structure where new investments were potentially being used to pay earlier investors.

As of now, investors are seeking legal recourse and hoping to recover their invested funds, while local authorities begin their investigation into the matter.