Liberty Bank/Liberty Coin Exchange Scam

Victim Of A Fraudulent Crypto Investment Or Fake Bank Platform? Our Experienced UK Solicitors Specialise In Recovering Money Lost To Liberty Bank/Liberty Coin Exchange Scam.

Liberty Bank/Liberty Coin Cryptocurrency Exchange is a fraudulent cryptocurrency platform designed to deceive individuals into transferring money through social media manipulation, primarily using WhatsApp and online advertising.

Although the platform has appeared on financial websites such as Yahoo.com, most victims have been lured in through WhatsApp groups that falsely claim to provide expert trading guidance.

These WhatsApp groups are run by scammers pretending to be financial experts, some claiming to hold academic or professional titles, including being professors of finance. They aim to build trust and encourage new members to open an account on the Liberty platform and begin investing.

To appear low risk, victims are only asked to “start small” with a modest investment. The exchange then fabricates a trading account that shows fake profits, making it seem like the initial investment is growing. The illusion is used to pressure victims into investing larger amounts.

When victims try to access their supposed returns and wish to withdraw money, barriers are introduced—including invented withdrawal fees. These are further scams, and any money paid is never seen again.

The scam showed several red flag warning signs, including:

• No physical address or legitimate phone number
• Pressure to “invest” via social media groups
• Hidden domain ownership details
• Promises of high returns that were too good to be true.

However, the most critical red flag was the platform’s lack of FCA authorisation. Any legitimate financial service operating in the UK must be authorised by the FCA. You can verify this by searching the FCA Register. Offering or promoting financial services without authorisation is a criminal offence.

Some victims may have mistaken this operation for the legitimate Liberty Bank in the United States, which is not connected to this scam. Similarly, Liberty gold coins are genuine and have recently increased in value. The scammers likely chose the name “Liberty Bank/Liberty Coin Exchange” to exploit the reputation of these legitimate names.

The Liberty Bank/Liberty Coin scam is a highly sophisticated investment scam from the outset. Victims should not feel guilty or blame themselves—anyone could have been caught out by this scheme.

Unlike older scams that simply advertised fake trading platforms and waited for people to invest, Liberty’s approach was faster and more aggressive. Scammers knew that once early victims realised it was a scam, word would spread quickly on social media, potentially shutting the operation down. To avoid this, they used social media platforms (Facebook, Instagram, Reddit) to reach hundreds or even thousands of victims within a short time — often weeks.

One of the key tactics was promoting free investment or trading education through Facebook and WhatsApp groups. Victims received messages or posts promising huge daily returns if they joined a group and followed advice from so-called experts, described as “Professors,” “Mentors,” or “Coaches.”

But these experts didn’t provide real education. Instead, they guided members on how to use the fake Liberty trading platform, shared fake daily trading signals, and promoted fabricated investment opportunities, such as the launch of a new cryptocurrency called “Liberty Coin.”

The groups also featured fake personas, often posing as successful investors claiming to have made large profits. These were possibly AI-generated or scripted profiles, designed to create false confidence.

The Liberty operation closely resembled an earlier scam—Diamond Ridge Financial Academy—which also used WhatsApp coaching groups and the same scam structure.  Some of the same “coach” names appeared in both scams, suggesting the same fraudsters were behind both. After Diamond Ridge was exposed, the scammers likely rebranded as Liberty.

Just like Diamond Ridge, the Liberty exchange displayed fake accounts and manipulated profit displays, showing large gains that were never real.

Eventually, victims started to realise the truth when they tried to withdraw funds and encountered roadblocks, including:

• Withdrawal fees – claimed administration costs to release funds.
• Fines – penalties for breaching a fake holding period
• Investigation fees – charges to allegedly review the account
• Token allocation fees – victims were told they had been mistakenly given tokens and had to pay for them

The scammers often delayed responses, blaming fake “app maintenance” that was never resolved.

When victims questioned the process, they were removed from WhatsApp groups to silence them and protect the scam.

In some cases, the scammers took desperate measures:

• One victim, unable to pay the withdrawal fee, was “offered help” by a WhatsApp “coach” who pretended to lend them the money, then pursued them to repay, a further scam.
• Another victim’s bank flagged the fee transfer as suspicious. In response, the scammers sent a courier to collect cash in person.

If you suspect Liberty Bank scammed you, don’t wait—time is critical in recovering lost funds. Speak to a solicitor today. 

According to the Financial Conduct Authority (FCA) warning issued on June 11, 2025,

“Liberty Bank / Liberty Coin Exchange is operating in the UK without authorisation.”

Read the official FCA warning here.

This confirms that Liberty Bank (also known as Liberty Coin Exchange) is not authorised or regulated to offer financial services in the UK. As a result, any investments or transactions made through this platform are not protected by the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS).

What This Means for You:

• If you have deposited money or cryptocurrency with Liberty Bank, you were dealing with an unregulated and likely fraudulent entity.
• The FCA warning confirms the firm is a clone firm—fraudulently copying the name of a legitimate institution to gain trust.
• Do not trust follow-up contact from anyone claiming to recover your funds who asks for payment upfront—this could be a second-layer scam (commonly known as a recovery scam).

While the FCA provides critical alerts and official warnings, they do not provide legal advice or assist in recovering your funds.

That’s where we come in.

If you’ve been affected by Liberty Bank/Liberty Coin Exchange. Contact us for a free, confidential legal consultation.

If you’ve lost money to Liberty Bank / Liberty Coin Exchange, you may feel helpless, but you do have recovery routes available under UK financial regulations. Many victims are not aware that banks, credit card companies, and even the Financial Ombudsman may be able to help under certain circumstances, especially if your payment went through a regulated UK provider.

Our legal team can guide you through these routes and advocate on your behalf, significantly improving your chances of success.

If You Paid by Debit or Credit Card

If your payment was made using a credit or debit card, we can explore:

• Chargeback (for debit and credit card payments): A voluntary scheme that allows you to dispute a transaction and request a refund from your bank.
• Section 75 of the Consumer Credit Act (for credit card payments over £100): This law holds the credit card provider jointly liable with the merchant, even if the merchant was a scam.

Not all banks are cooperative, especially when scams involve crypto or overseas transfers. That’s where we step in to help build and present your case effectively.

If You Sent Money via Bank Transfer

If your payment was made by bank transfer to another UK Bank account, you may be able to claim a refund under the Authorised Push Payment (APP) regulations:

• This regulation was set up to protect customers who were tricked into transferring money to fraudsters.
• Many major UK banks have signed up and are expected to refund victims, unless they can show that you acted recklessly.
•  Since 2024, most cases are now eligible for refunds up to £85,000, with only a small deduction (usually £100), which may be waived for vulnerable customers.
  If your bank has refused to refund you or you believe the response was unfair, we can help you escalate your complaint to the Financial Ombudsman Service (FOS) — a free and independent body that assesses whether your bank acted appropriately.

UK banking regulations do allow for the reimbursement of scammed funds from your own bank if the transaction was a transfer to another UK bank. Unfortunately, the Liberty Bank/Liberty Coin scam involved bank transfers to international accounts and the transfer of cryptocurrency. Banks, however, are still under an obligation to consider reimbursing all or some of your lost funds if it can be shown that they could have taken more steps to prevent the transfer.

This can often be shown to be the case where the transfer or series of transfers was unusual, e.g., it was a large amount or they were to an international bank. While in these situations the bank is not under a regulatory obligation to reimburse, we have experience and expertise in demonstrating how your bank could have done more to prevent the transfer, thereby obtaining a reimbursement.

Although regulators like the FCA issue important alerts, they do not recover funds or assist victims with navigating legal processes. This is where our legal team can support you:

• We review your payment trail, including emails, receipts, and bank evidence
• We handle communications with your bank or card provider
• If needed, we will escalate the matter to the Financial Ombudsman Service on your behalf
• You get clear, honest legal advice about the strength of your case—no pressure, no false promises

We specialise in fraud and mis-selling cases—and have experience helping people who’ve been misled by fake financial platforms posing as legitimate institutions.

Wondering which option applies to you? Our legal team is here to support you, not judge you. Get Personalised Advice.

• Step 1: INITIAL CONSULTATION (DAY 1–2)
  Free case review with a specialist solicitor
  We assess your situation, review your transactions, and let you know whether you have a strong claim, at no cost and with no obligation.
• Step 2: EVIDENCE GATHERING (WEEK 1)
  Collecting the details that build your case.
  We help you compile all relevant information: bank transfer records, screenshots or emails from scammers, contracts or communications. This gives us the solid foundation needed to proceed confidently.
• Step 3: SCAM ANALYSIS (WEEK 1–2)
  Understanding the scam and tracking the fraud.
  We investigate how the scam was carried out—including who was involved, where the money was sent, and how it might be recovered. This helps us identify negligence or failings by your Bank or financial body.
• Step 4: LEGAL STRATEGY & RECOVERY ROUTE (WEEK 2)
  Tailoring your path to recovery.
  We prepare and submit your claim to your Bank or relevant redress body. If your Bank denies the claim, we:
  – Challenge their decision with supporting legal arguments
  – Escalate the matter to the Financial Ombudsman Service (FOS) if needed
• Step 5: EXECUTION & RECOVERY ACTIONS (WEEKS 3–8+)
  Taking action to get your money back.
  We negotiate directly with Banks and file official complaints.
• CLIENT UPDATES & OUTCOME
  We keep you informed—always.
  Expect clear, regular communication from us. Whether we’re negotiating with your Bank or preparing an application to FOS, you’ll never be left in the dark.

It’s not too late to recover what you’ve lost — let’s talk. Start your recovery process now.

We understand that scam victims have already lost money, so we offer a “No Win, No Fee” Agreement.

What This Means for You

• If we don’t win, you owe us nothing.
• If we succeed, our fees are based on a regulated percentage.
• No upfront costs.
• Full legal representation, if required.
• 14-day cooling-off period—if you change your mind.

Speak To A Solicitor Now About Your Recovery Options— No Win, No Fee!

Yes—but not the one used in this scam.

There is a legitimate Liberty Bank in the United States, which is authorised by the US banking regulator. It has no connection to the Liberty Bank/Liberty Coin scam that used WhatsApp groups to promote fake cryptocurrency investments.

In many cases, yes—especially if you acted reasonably and weren’t warned by your bank.

Liberty Coin had all the hallmarks of a fraudulent investment platform, designed to steal victims’ money. UK banking regulations allow victims to recover funds if the transaction was a UK bank transfer and the victim was not grossly negligent (e.g., they didn’t ignore a clear warning from their bank).

Even if you used a debit/credit card or international transfer, you may still have a case, particularly if your bank could have done more to prevent the scam. We specialise in proving this.

This scam followed a highly organised playbook seen in other fake investment schemes.

Red flags included:

• Use of social media groups (e.g., WhatsApp) to promote fake trading education
• Fake “mentors” or “professors” offering investment advice in chat groups
• Fake trading platforms showing manipulated profit figures
• Planted fake users boasting about huge returns
• No physical address or contact number
• Masked domain registration and lack of regulatory authorisation

• Immediately stop all payments and report to your bank.
• Cease all contact with the scammers.
• Report the scam to Action Fraud UK and the Financial Conduct Authority (FCA).
• Preserve all records: screenshots, email chains, bank transactions, crypto wallet addresses.
• Report the fraud to any platform or site where it occurred.
• Speak to a solicitor – the sooner you act, the more options may be available.

It depends on how your bank handles your complaint.

If you submit a request for a refund:

• Your bank has 15 days to acknowledge and 35 days to fully respond.
• They may refuse a full refund if they believe you ignored a scam warning or the transaction doesn’t qualify under UK refund rules (e.g., a foreign bank transfer).

If your bank refuses or partially refunds, you can appeal to the Financial Ombudsman Service (FOS)—they can order the bank to refund if the rules were applied unfairly.

To help us present your case as strongly as possible, please prepare the following:

• Bank statements showing the payments you made
• All written communications with the scammer (emails, SMS, chat messages)
• Any communication with your bank, especially if your refund was refused
• Your Action Fraud or police crime reference number

This documentation helps us build your case for a refund or a complaint to the Ombudsman.

No – you’re not legally required to use a solicitor to request a bank refund or submit a complaint to the Ombudsman.

However, many scam victims choose legal support when:

• Their claim was unfairly rejected or only partially accepted
• They want help strengthening the case with evidence, regulation references, or legal precedent
• They’re overwhelmed by forms, legal language, or communication with banks and crypto platforms
• Their case involves complex crypto transfers, international jurisdictions, or larger sums.

We offer a clear, legal route to challenge unfair decisions and give victims the best possible chance of recovering what they lost.

You’re not alone, and we’re here to help. The sooner we start, the higher your recovery chances.

Take the first step toward justice today. Book a Free Consultation.