IQ Option
We are investigating IQ Option for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices. This includes potential violations such as impersonation, fraud, and perjury.
PARTIES INVOLVED : IQ Option
ALLEGATIONS : Perjury, Fraud, Impersonation
INCIDENT DATE : 27 Aug 2024
INVESTIGATED BY : Ethan Katz
TOOLS USED : Lumen, SecurityTrails
CASE NO : 3511/A/2024
CRIME TYPE : Intellectual Property Scam
PUBLISHED ON : 21 Nov 2024
Is This About You?
What We Are Investigating?
Our firm is launching a comprehensive investigation into IQ Option over allegations that it has been suppressing critical reviews and unfavorable Google search results by fraudulently misusing DMCA takedown notices. These actions, if proven, could constitute serious legal violations—including impersonation, fraud, and perjury.
We conducted comprehensive analyses of fraudulent copyright takedown requests, meritless legal complaints, and other unlawful efforts to suppress public access to critical information. Our reporting sheds light on the prevalence and modus operandi of a structured censorship network, often funded and used by criminal enterprises, oligarchs and criminal entities seeking to manipulate public perception and bypass AML checks conducted by financial organisations.
The fake DMCA notices in this investigation appears to have been strategically deployed to remove negative content from Google search results illegally. Based on this pattern, we have reasonable grounds to infer that IQ Option - or an entity acting at its behest - is directly or indirectly complicit in this cyber crime.
In most such cases, such ops are executed by rogue, fly-by-night 'Online Reputation Management' agencies acting on behalf of their clients. If evidence establishes that the subject knowingly benefited from or facilitated this scam, it may be deemed an 'accomplice' or an 'accessory' to the crime.
What are they trying to censor
IQ Option, established in 2013, has encountered significant regulatory scrutiny across multiple jurisdictions. In 2016, the Cyprus Securities and Exchange Commission (CySEC) fined the company €180,000 for various violations, including misleading marketing materials and inadequate approval of liquidity providers. Although this fine was later reduced to €20,000 after the company provided additional documentation, it raised concerns about the firm’s compliance practices. In 2019, IQ Option agreed to a €450,000 settlement with CySEC for failing to implement effective safeguards against conflicts of interest and for insecure transaction processes.
In Australia, IQ Option operated without a license until 2016, addressing regulatory shortcomings only after receiving a formal warning from the Australian Securities and Investments Commission (ASIC). Similarly, in Singapore, the Monetary Authority of Singapore (MAS) placed IQ Option on its Investor Alert List in July 2017, signaling potential risks to investors.
Allegations of Fraudulent Practices
Beyond regulatory fines, IQ Option has faced allegations of fraudulent activities. In India, the Reserve Bank of India (RBI) included IQ Option in its alert list as of June 2017, warning residents that conducting forex transactions with the company could lead to legal actions under the Foreign Exchange Management Act (FEMA), 1999. In 2021, a class-action lawsuit was filed against IQ Option in India, alleging fraud through a cryptocurrency investment scheme. Victims claimed that the company promised returns of up to 900% but blocked withdrawals under the guise of technical errors. The lawsuit seeks a permanent ban on the company’s operations in India.
In Indonesia, binary options, including those offered by IQ Option, are classified as a form of online gambling. Since February 2022, the company has been banned along with over 92 similar operators, further limiting its ability to operate in Southeast Asia.
User Complaints and Platform Integrity
Users have reported significant issues with IQ Option’s platform integrity. Some traders have accused the company of manipulating trading graphs to turn profitable trades into losses. For instance, a user practicing on a demo account reported consistent profits, but upon switching to a real account, experienced losses that seemed orchestrated by the platform. Additionally, there have been reports of delayed or blocked withdrawals, with customer support being unresponsive to user complaints.
Reputational Impact and Potential Motivations for Content Removal
The accumulation of regulatory fines, legal challenges, and user complaints has significantly tarnished IQ Option’s reputation. Allegations of fraudulent practices and regulatory non-compliance can erode public trust, deter potential clients, and attract further regulatory scrutiny. In an effort to protect its reputation and maintain its client base, IQ Option might be motivated to seek the removal of these unfavorable stories. While the company would ideally pursue legal and ethical avenues for content removal, the persistence of adverse news could, in a hypothetical scenario, tempt an entity to consider illicit methods, such as cybercrime, to suppress negative coverage.
- https://lumendatabase.org/notices/44122876
- Aug 27, 2024
- NovaFusion Dynamics
- https://iqoption.com/en
- https://www.earnforex.com/forex-brokers/IQOption/
Evidence Box
Evidence and relevant screenshots related to our investigation
Targeted Content and Red Flags
About the Author
The author is affiliated with TU Dresden and analyzes public databases such as Lumen Database and
Maltego to identify and expose online censorship. In his personal capacity, he and his
team have been actively investigating and reporting on organized crime related
to fraudulent copyright takedown schemes.
Additionally, his team provides
advisory services to major law firms and is frequently consulted on matters
pertaining to intellectual property law.
Escalate This Case
Learn All About Fake Copyright Takedown Scam
Or go directly to the feedback section and share your thoughts
How This Was Done
The fake DMCA notices we found always use the 'back-dated article' technique. With this technique, the wrongful notice sender (or copier) creates a copy of a 'true original' article and back-dates it, creating a 'fake original' article (a copy of the true original) that, at first glance, appears to have been published before the true original
What Happens Next?
Based on the feedback, information, and requests received from all relevant parties, our team will formally notify the affected party of the alleged infringement. Following a thorough review, we will submit a counter-notice to reinstate any link that has been removed by Google, in accordance with applicable legal provisions. Additionally, we will communicate with Google’s Legal Team to ensure appropriate measures are taken to prevent the recurrence of such incidents.
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User Reviews
Average Ratings
2.1
Based on 6 ratings
by: Quinn Hughes
After trusting IQ Option with $7,800 for crypto trading, they froze my account and support vanished this feels like outright theft
by: Penny Moore
I lost $6,200 with IQ Option after they blocked my withdrawals and blamed it on a 'technical glitch' they took everything and gave nothing back
by: Kojo Mensah
Practicing on a demo account and winning, only to lose everything on a real account? That’s not trading, it’s bait and switch 101.
by: Anaïs Laurent
When a trading platform gets slapped with fines on three continents, it's not an outlier—it’s a pattern.
by: Devin Wilkins
Legal issues in India, bans in Southeast Asia, and a flood of complaints—it’s almost impressive how deep their problems go. Any company that needs this much damage control has no business handling your money. Their reputation isn't flawed it’s broken.
by: Bella Marsh
Track record is a regulatory nightmare. From fines in Cyprus to bans in Indonesia, their global footprint looks more like a cautionary tale than a success story.
by: Cody Gibbs
IQ Option isn’t a trading platform, it’s a regulatory disaster dressed in a sleek UI
by: Liam Walker
Avoid this scam broker at all costs. While losses are tolerable, they block your account when you make profits, without providing any specific reason. Protect your hard-earned money by staying far away from this platform.
Cons
by: Kathy Clark
IQ Option is a complete fraud. They take money through UPI under different names, and even after months, withdrawals remain "in process"—I've been waiting for my Rs. 30,000 withdrawal.
Pros
Cons
by: Jack Harris
I am extremely frustrated with IQ OPTION as they are refusing to process my withdrawal, despite all deadlines having passed. My account is currently undergoing an "additional check," which is not mentioned anywhere in the rules or terms of service....
Pros
Cons
by: Ivy Moore
This company is nothing short of fraudulent. They engage in price manipulation, block accounts without valid reason, and delay withdrawals for an unreasonable amount of time. Additionally, their marketing tactics are deceptive, using fake accounts to mislead potential customers. Their...
Cons
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