Andrei, 44, runs a small logistics business in Chicago. He found Skytoptrade through a polished ad promising low-fee crypto trading, and for two months everything worked — deposits cleared, prices moved, support replied. Then he tried to withdraw $40,000, and a “tax” appeared that no real exchange would ever charge. This is how a frozen-withdrawal scam works, and how we recovered part of his $67,000.
How Skytoptrade earned Andrei’s trust
Skytoptrade looked like a real exchange. The interface was clean, two small early withdrawals actually paid out, and Andrei moved more in each time — funding the account with $67,000 in BTC and USDT over eight weeks. Because he had successfully withdrawn before, he had no reason to suspect the larger balance was any different.
The “capital gains tax” that froze everything
When Andrei requested $40,000, Skytoptrade told him a 20% “capital gains tax” had to be paid to the platform before any withdrawal could be processed — and it could not be deducted from his balance. No legitimate exchange collects a government tax as a precondition for releasing your own funds. It was a wall, not a fee, and paying it would only have triggered the next one.
What AssetsCollector did
- Mapped every deposit from Andrei’s wallets and exchange accounts into Skytoptrade, building a clear on-chain trail of where the BTC and USDT actually went.
- Followed the funds to identifiable deposit addresses at two mainstream exchanges and filed evidenced freeze requests through their compliance channels while balances remained.
- Coordinated with Andrei’s originating exchange and the relevant reporting body to flag Skytoptrade and support the freeze.
- Advised Andrei to pay none of the “tax,” preserving both his remaining funds and the strength of the case.
Outcome
One downstream exchange held and returned a portion of the traced funds before they were cashed out, recovering $31,500 of $67,000 — about 47%. The funds already moved through a mixer were unreachable. Stopping Andrei from paying the fake “tax” prevented a larger loss on top of the original.
What gave Skytoptrade away
- No legitimate exchange requires you to pre-pay a “tax” to the platform to release your own funds.
- Small early withdrawals that succeed are a confidence trick to justify a much larger deposit.
- On-chain funds are most recoverable while they still sit at a regulated exchange — speed is everything.
Is an “exchange” blocking your withdrawal behind a fee or tax?
Do not pay it. Send us the wallet addresses and transaction IDs — the sooner we trace the funds, the better the chance of a freeze.
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