Classification: Confirmed Unauthorized Trading Platform – Active Scam Operation
Regulatory Status: ❌ FCA Warning – Not authorized to provide financial services in the UK
Regulatory Date: April 20, 2026
I-SCAN Database: Listed in IOSCO international alerts system
Victim Pattern: Education course lure → simulated profits → withdrawal fee demands
Executive Summary
CoinrushFX (operating under the domain coinrushfx.com) is a confirmed unauthorized trading platform that has received an official warning from the UK Financial Conduct Authority (FCA) on April 20, 2026 . The platform has been added to the International Securities & Commodities Alerts Network (I-SCAN), a global database maintained by the International Organization of Securities Commissions (IOSCO) that tracks unauthorized investment firms worldwide .
Victim reports indicate a well-documented scam pattern originating from a “wealth management course” offered by Eagle Crest Asset Management (ECAM) in 2025. Victims were initially provided with $500 to “learn” trading, which appeared to generate profits. When victims invested their own money, the platform again displayed substantial returns. However, when victims attempted to withdraw, the platform demanded commissions, taxes, or fees ranging from 8% to 15% of the account value . None of the individuals who paid these fees have been able to recover their investments.
The platform is part of a broader interconnected scam network operating similar fraudulent platforms including OK-Coin (ok-coin.com) and QamCoin.com . As of the latest reports, none of the associated websites are currently operational . The operators may resurface under new domains, and victims remain at risk of secondary “recovery scams.”
Important Distinction: CoinrushFX is a fraudulent platform that has been officially warned by the FCA and listed in IOSCO’s international alert system. Investors are strongly advised to avoid this platform entirely.
Verdict at a Glance:
| Aspect | Assessment |
|---|---|
| Regulatory Status | ❌ Unauthorized – Official FCA Warning |
| I-SCAN Listing | ✅ Yes – International regulatory alert |
| Warning Date | April 20, 2026 |
| Affiliated Websites | OK-Coin, QamCoin.com – none currently operational |
| Victim Recruitment | Wealth management course (Eagle Crest Asset Management) |
| Scam Tactic | Simulated profits → withdrawal fee demands (8%-15%) |
| Documented Victims | Multiple California residents |
| Risk Level | 🔴 High – Confirmed Fraud |
| Recommendation | DO NOT DEPOSIT ANY FUNDS |
Official Regulatory Warnings: The Decisive Red Flags
UK Financial Conduct Authority (FCA) Warning – April 2026
The single most important fact in this review is that the UK’s top financial regulator has officially warned against CoinrushFX.
On April 20, 2026, the UK Financial Conduct Authority (FCA) added Coinrush FX (www.coinrushfx.com) to its official warning list of unauthorized firms . The FCA warning states that the company is offering financial services without the required authorization to operate in the United Kingdom.
The warning was published through the International Securities & Commodities Alerts Network (I-SCAN), a global database maintained by the International Organization of Securities Commissions (IOSCO) that notifies financial regulators worldwide about unauthorized investment firms .
California DFPI Crypto Scam Tracker
The California Department of Financial Protection and Innovation (DFPI) has documented multiple victim reports involving Coin-Rush.com (associated with the same scam network) through its official Crypto Scam Tracker .
DFPI findings:
- Multiple California residents reported participating in a wealth management course offered by Eagle Crest Asset Management (ECAM)
- The course was led by an individual identified as “Ridel”
- Residents were instructed to open accounts on OK-Coin (ok-coin.com), QamCoin.com, and Coin-Rush.com
- ECAM provided investors with $500 to begin trading
- Residents believed they were making profits trading this initial amount
IOSCO I-SCAN International Alert
CoinrushFX has been added to the IOSCO I-SCAN database, which means financial regulators across the globe have been alerted about this platform .
What these warnings mean for investors:
- ❌ CoinrushFX is not authorized to provide financial services in the UK or any other jurisdiction
- ❌ The platform operates with no regulatory oversight
- ❌ There is no investor protection if funds are lost
- ❌ There is no compensation scheme (no deposit insurance)
- ❌ There is no ombudsman to appeal to
- ❌ The FCA explicitly warns that you will not have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS) if you deal with unauthorized firms
The Scam Pattern: How CoinrushFX Steals Your Money
Based on detailed victim documentation from the California DFPI and regulatory analysis, here is the step-by-step pattern of how CoinrushFX’s fraudulent operation works.
Phase 1: The Bait – The “Free” Wealth Management Course
Victims are recruited through a wealth management course offered by Eagle Crest Asset Management (ECAM), led by an individual identified as “Ridel” .
The course focused on stocks and crypto assets trading, presented as an educational opportunity. Victims were instructed to open accounts on multiple trading platforms, including Coin-Rush.com .
Phase 2: The Hook – Free $500 to “Learn” Trading
ECAM provided investors with $500 to begin trading . This initial funding was provided by the scammers themselves.
Residents opened accounts and believed they were making profits trading this initial amount . The platform displayed positive returns, creating an illusion of legitimate trading success.
Phase 3: The Trap – Personal Investment Leads to Substantial Returns
Encouraged by the apparent success with the provided $500, residents invested their own money .
Once again, the platform displayed substantial returns on their personal investments. Victims believed they were successfully trading and earning profits.
Phase 4: The Withdrawal Barrier – Commissions, Taxes, and Fees (8%-15%)
When victims attempted to withdraw their funds – especially the “profits” displayed on their dashboards – the situation changed dramatically.
The platform demanded commissions, taxes, or fees ranging from 8% to 15% of the value of the account .
This fee structure is predatory and designed to extract maximum value. For a 100,000″profit,”thefeewouldbe8,000 to $15,000.
Phase 5: The Outcome – Total Loss, No Recovery
Despite paying these fees, none of the individuals have been able to recover their investments .
As of the latest reports, none of the associated websites (OK-Coin, QamCoin.com, Coin-Rush.com) are currently operational . This is the classic “disappearing website” tactic used by scammers: once enough victims have paid, the platform shuts down.
One victim stated: “When they tried to withdraw funds, the platform demanded commissions taxes, or fees ranging from 8% to 15% of the value of the account. Despite paying these fees, none of the individuals have been able to recover their investments” .
The Interconnected Scam Network: OK-Coin and QamCoin.com
CoinrushFX is not an isolated platform. According to the California DFPI investigation, it is part of a broader network of fraudulent trading websites :
| Platform | Status | Role in Scam |
|---|---|---|
| OK-Coin (ok-coin.com) | Not operational | Victims instructed to open accounts here |
| QamCoin.com | Not operational | Victims instructed to open accounts here |
| Coin-Rush.com | Not operational | Primary trading platform |
| Eagle Crest Asset Management | Under investigation | Recruitment vehicle (wealth management course) |
The California DFPI notes: “none of the associated websites are currently operational” . This is the typical lifecycle of a scam network: operate for a period, extract deposits, then shut down and reappear under new domain names.
The interconnected nature of this network means that if you have been targeted by any of these platforms, you are dealing with the same criminal organization.
The “Ridel” Connection: The Course Instructor
The wealth management course was led by an individual identified as “Ridel” . This person orchestrated the initial victim recruitment through supposedly legitimate financial education.
While his real identity remains unknown, this pattern is common in investment fraud: scammers pose as financial “mentors” or “educators” to build trust before directing victims to fraudulent trading platforms.
Warning Sign: If a financial “course” or “mentor” directs you to open accounts on specific trading platforms, especially multiple platforms at once, this is a significant red flag.
Red Flags Summary
| Red Flag | How CoinrushFX Displays It |
|---|---|
| Official FCA Warning | UK regulator confirms unauthorized operations |
| IOSCO I-SCAN Listing | International regulatory alert issued |
| No Valid Regulation | Not authorized by FCA or any other financial authority |
| Educational Course Lure | Recruited through “wealth management course” |
| Free Money to Build Trust | ECAM provided $500 to start trading |
| Simulated Profits | Victims believed they were making profits on initial deposit |
| Substantial Returns Displayed | Personal investments also showed substantial returns |
| Withdrawal Fee Demands | 8% to 15% commission/tax/fees demanded |
| No Recovery After Fees | None of the victims recovered their investments |
| Multiple Domains | Part of network with OK-Coin, QamCoin.com |
| Websites Shut Down | None currently operational |
| Anonymous Operator | “Ridel” — identity unknown |
Comparison: Legitimate Broker vs. CoinrushFX
The Interconnected Nature of Crypto Scams: A Wider Pattern
The CoinrushFX scam is part of a larger trend of fraud documented by the California DFPI. Investment scams targeting crypto investors often follow a predictable pattern: victims are recruited through courses, social media, or “investment groups,” after which they transfer funds to fake trading platforms that appear to show profits but block all withdrawals. The warning signs are consistent: unrealistic profit guarantees, a complex fee structure, and a sudden disappearance of the entire website.
Steps to Take If You Have Been Affected
If you have already deposited funds with CoinrushFX, OK-Coin, QamCoin.com, take these actions immediately:
SiiraOasis – Asset Recovery Specialists
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