New Complaint Unveils 'Pig-Butchering' Tactics Used in NYBOT Global Fraud Incident

Since the end of 2024, numerous traders have brought forward fraud allegations against the forex broker NYBOT Global. Claiming substantial financial losses, these traders are seeking the recovery of their funds. On February 13, 2025, the situation intensified when a trader submitted a formal complaint with BrokersView, alleging NYBOT Global is a scam and detailing multiple instances where withdrawal requests were denied. 

‘Pig-butchering’ tactics employed in NYBOT scam case

In mid-September 2024, the trader was first contacted by a young woman named "Zhang Xueyao." She initiated a conversation about her career as a fashion designer and her uncle’s trading activities on the New York Stock Exchange. The woman also introduced him to the benefits of cryptocurrencies and instructed him to install the crypto wallet app Bitget Wallet and the well-known crypto exchange Binance, where he subsequently purchased USDT cryptocurrency.

When online conversations with new acquaintances transition from personal experiences to discussions about trading and investment, they are often "pig-butchering" tactics. In pig-butchering scams, the scammers who reach out to the target usually use fake names and misuse the photo profiles of internet influencers. These tactics are employed by individuals who superficially befriend their targets, only to later steer them toward investing in various assets on specific trading platforms or apps that are fraudulent. 

Just happened in this case, the woman instructed the trader to register on NYBOT Global’s websites, https://nybotglobalent.com and https://pc.nybotglobally.com. Following her directives, the trader made multiple transfers from Binance.

Selected USDT Transfers from NYBOT Global Client

Never withdrew successfully from NYBOT Global: persistent demands for deposits

According to the complainant, the woman persistently demanded deposits and pressured him to deposit an additional $10,000. When he attempted to withdraw the 8230 USDT showing in his trading account, his request was rejected. He was then asked to deposit 10% of the amount, which totaled $823. Despite making this deposit, his withdrawal request was still denied, and the demand for more deposits continued, leading him to realize it is a scam.

client’s trading account shows increasing “returns”

This is not the end of the incident, as the scammer continues to ask for more deposits. “As of today I cannot withdraw the money and it is still blocked. They keep writing to me to deposit and thus be released,” said the trader.

NYBOT Global is indeed a scam

NYBOT Global claims to be incorporated in the UK in 2005, but it fails to obtain authorization from the Financial Conduct Authority (FCA).

The company also asserts that it holds Class 4 and Class 9 regulated activity licenses from the Securities and Futures Commission of Hong Kong (SFC). However, this is not the case. On January 28, 2024, the SFC added NYBOT Global to its Alert List of unlicensed entities and suspicious websites, indicating that the company might be providing financial services or products without proper authorization in Hong Kong.

Consequently, investigations have debunked NYBOT Global’s licensing claims, confirming that it is unregulated.

Since late November 2024, multiple traders have posted reviews on BrokersView, stating they were scammed by NYBOT Global. 

On January 17, 2025, BrokersView issued a scam alert regarding NYBOT Global after a client claimed to have lost $800 on this unlicensed trading platform due to unresponsive withdrawal requests.

This piece aims to draw more traders' attention to the fraudulent practices of NYBOT Global by unfolding the new revelations in the recent complaint and the grievances voiced by the affected traders, in the hope that no more victims fall into the broker's trap.