NovaTech Refund Update
NovaTechFX has a track record of being revolutionary, founded at a time when forex platform would rather give a wide berth to Cryptocurrency, even with the amazing technology behind the digital currency, due to it’s unregulated status, only exchanges dedicated solely to cryptocurrency trading tends to list these asset class until NovaTechFX broke away from the matrix and did something truly different by merging both Forex and Cryptocurrency in one powerful platform.
Unfortunately it all came crashing down in May 2023 when our platform was exploited and most of our funds were lost, that set us on a mission that took months of hard detective and legal work that cumulated in the recovery of the stolen funds.
WHY WE KEPT QUIET
Due to the sensitive nature of the investigation and recovery effort that followed, we were advised by our legal team to keep details about the incident confidential so that we wouldn’t tip off the exploiters that we were on their trail so that they could get comfortable and make the mistakes that enabled us recover the funds.
We understand how this decision has impacted you but if we had mentioned the incident, the pressure from the community for updates would have been high and we might end up announcing what should have been kept confidential and the exploiters would be tipped off that we are on their trail.
CURRENT SITUATION
A while back we announced the refund program and we are happy that so many of our community members has completed the requirements for the refund and has been refunded. But there is still a lot of work to be done as those who has completed the process and claimed their refunds are just a small fraction of our previously registered members due to the issue of publicity and awareness.
While we are actively refunding investors affected by the exploit, we have to specify that only your invested capital is eligible for a refund as all accumulated bonuses and earnings would not be refunded. We understand the inconvenience this might cause but this has become necessary because of recovery process was quite expensive. The refund process is ongoing and we aim to wrap it up by the end of 2023 so we can move on to the next phase which is NovaTechFX 2.0.
HOW TO COMPLETE KYC
To complete the KYC, Kindly access the menu in your user dashboard and navigate to “Account Verification”
The necessary information required are as follows:
- Identity Verification (image uploads).
- Withdrawal wallet address.
- Amount previousy Invested (All External Crypto Deposits Into NovaTechFX).
After this information is submitted, your application would automatically be reviewed by the system within 24-48 hours.
WHY THE 20% DEPOSIT?
The exploit on our platform affected not just the funds in the platform but also user data as the exploiters added some accounts and modified others and we don’t trust the data in the platform at face value, hence the multi-level verification setup and the 20% deposit is simply a verification tool designed to penalize the exploiters if they try to claim fraudulent refunds and are detected by the systems we have in place.
It is our belief that the exploiters would not attempt to complete the full requirements especially when there is a possibility that we might detect their accounts and block the refund, making them lose their deposited 20%. This refund program is not just to refund members, it also serves as a trap to fish out some of the fraudulent accounts in our system.
REFUND IN NUMBERS
MEMBERS REFUNDED: About 800 members has successfully completed the refund requirements and has been refunded since the refund program was launched. This accounts for 65% of current total registrations as the other 35% are currently still undergoing the process.
HIGHEST REFUND AMOUNT: Largest single amount paid out to a user since the refund program commenced is $211,000.
TOTAL REFUND AMOUNT: Total amount paid out to users so far in the refund process is a little over $2,420,000, we’re proud of what we have been able to achieve in such a small time and we hope to beat this number in our next Newsletter!.
For additional Information, questions or enquiries, kindly reach out to our Livechat support personnel, You can also join the refund group and channel for the latest updates and information via the links below:
Telegram Channel: https://t.me/Novatechfxchannel
Telegram Group: https://t.me/NovatechFXofficiaI