How to identify and report frauds and scams

Fraudsters and scammers may use emails, text messages, phone calls, social media, messaging apps, fake websites, or other methods to try to obtain your personal information, gain access to your account, or convince you to send money or make an investment.

Knowing the warning signs can help protect your Moomoo Financial Inc. (“MFI”) brokerage account and personal information.

Keep in mind

Never share your Moomoo password, trading password, verification codes, or other account security credentials with another person.

Be cautious of anyone claiming to represent Moomoo who asks you to provide sensitive account information, transfer money to an unfamiliar account or wallet, download remote-access software, or communicate through an unofficial channel.

If you are unsure whether a communication is legitimate, stop communicating with the sender and contact Moomoo directly using an official support channel.

Impersonation and fake support scams

Scammers may impersonate Moomoo, MFI, customer service representatives, financial professionals, government agencies, or other trusted organizations. They may contact you by phone, email, text message, social media, or messaging apps.

Scammers may also create fake websites, advertisements, social media profiles, or customer-support pages that look legitimate.

How to stay safe

• Access Moomoo through the official app or website.

• Use Moomoo's official Help Center or in-app support options when you need assistance.

• Do not rely on contact information provided in an unsolicited email, text message, social media post, advertisement, or direct message.

• Never provide your password, trading password, verification code, or other security credentials to someone who contacts you unexpectedly.

• Be suspicious of anyone who pressures you to act immediately or threatens that your account will be closed, restricted, or subject to other consequences unless you take immediate action.

• Do not install remote-access or screen-sharing software at the request of an unknown person.

Social media and investment group scams

Be cautious of investment opportunities promoted through social media, online advertisements, group chats, or messaging platforms such as WhatsApp, Telegram, Discord, or similar services.

Fraudsters may impersonate investment professionals, financial institutions, influencers, celebrities, or other trusted individuals. They may use fake profiles, testimonials, screenshots, trading results, or AI-generated content to appear legitimate.

A scammer may invite you to an “investment group,” “VIP group,” “stock club,” or similar community and provide specific instructions about what security to purchase, when to purchase it, or how much to invest. In some cases, these schemes may involve low-priced or thinly traded securities whose prices are being artificially influenced.

Warning signs

Be cautious if someone:

• Contacts you unexpectedly with an investment opportunity;

• Promises guaranteed, unusually high, or low-risk returns;

• Claims to have “inside information” or a “sure thing”;

• Pressures you to invest quickly or increase the amount you invest;

• Directs you to buy a specific security at a particular time or price;

• Moves the conversation from social media to a private or encrypted messaging group;

• Uses screenshots or testimonials showing unusually large investment profits;

• Claims to be affiliated with Moomoo or another financial institution but communicates through an unofficial account; or

• Asks you to send money, cryptocurrency, or other assets outside your normal brokerage account.

Always independently evaluate an investment before making a decision. Information received through social media, group chats, or online communities may be inaccurate, misleading, or fraudulent.

Pump-and-dump and stock manipulation scams

In a pump-and-dump or similar manipulation scheme, fraudsters may promote a security aggressively to create buying interest and increase its market price. They may then sell their own holdings at the inflated price, after which the security's price may fall significantly.

These schemes may involve social media posts, online advertisements, investment groups, text messages, emails, or private messaging apps.

Be particularly cautious when an unsolicited person or investment group encourages coordinated purchases of a low-priced, low-volume, micro-cap, or otherwise thinly traded security.

Do not make an investment decision solely because of a stock tip, social media post, online investment group, or claim that other investors are making significant profits.

Phishing scams

Phishing occurs when scammers attempt to trick you into providing personal, financial, or account information.

A phishing message may appear to come from Moomoo, your bank, another financial institution, or another trusted organization. It may ask you to click a link, open an attachment, provide account credentials, enter a verification code, or call a telephone number.

How to spot phishing

Common warning signs include:

• Unexpected requests for passwords or security credentials;

• Messages claiming there is an urgent problem with your account;

• Requests to click a link to “verify” or “unlock” your account;

• Suspicious or misspelled website addresses;

• Unexpected attachments;

• Requests for personal or financial information; or

• Pressure to act immediately.

If you receive a suspicious communication, do not click links, open attachments, or use contact information contained in the message. Instead, access Moomoo directly through the official app or website.

Payment and transfer scams

Fraudsters may attempt to convince you to send money or assets to them by posing as a trusted person, business, government agency, investment professional, or financial institution.

Common schemes may involve:

• Fake investment opportunities;

• Romance or relationship scams;

• Business or invoice impersonation;

• Fake technical or customer support;

• Requests to send money to “protect” or “secure” your assets;

• Requests for advance fees, taxes, or deposits before purported investment proceeds can be released; or

• Requests to transfer funds to a different bank account or digital wallet.

Before sending money or assets, independently verify the identity of the recipient and carefully review the payment or transfer instructions.

Cryptocurrency scams

Cryptocurrency transactions may be difficult or impossible to reverse once completed. Fraudsters may exploit this by directing victims to send cryptocurrency to a wallet controlled by the scammer.

Be cautious of anyone who:

• Promises guaranteed cryptocurrency returns;

• Directs you to an unfamiliar website or trading platform;

• Asks you to transfer cryptocurrency to an unknown wallet;

• Claims additional payments, taxes, or fees are required before you can withdraw supposed investment profits; or

• Offers to recover cryptocurrency or other assets you previously lost in exchange for an upfront payment.

Never send cryptocurrency or other assets solely because someone you met online tells you to do so.

Protect your Moomoo account

You can take several steps to help protect your account:

• Use a strong and unique password that you do not use for other accounts.

• Never share your login or trading credentials.

• Enable available Moomoo account-security features.

• Consider using a passkey or Moomoo Token when available.

• Keep your registered phone number and email address current.

• Review your account activity regularly.

• Be cautious when logging in from unfamiliar devices or networks.

• Never allow an unknown person to remotely access your computer or mobile device.

For additional information, see How to make my account more secure?

What to do if you suspect fraud or unauthorized account activity

If you believe your Moomoo account or login credentials may have been compromised:

1. Contact Moomoo immediately using an official support channel.

2. Change your Moomoo password and other affected passwords.

3. Review your account activity for transactions or changes you do not recognize.

4. Review the devices associated with your account and available account-security settings.

5. Secure your email account and mobile device if you believe either may also have been compromised.

6. Preserve evidence of the suspected scam, including emails, text messages, phone numbers, usernames, website addresses, screenshots, transaction details, and other communications.

When reporting suspicious activity to Moomoo, provide as much information as possible to help us review the matter.

Contact Moomoo

If you believe your Moomoo account has been compromised or you notice activity you do not recognize, contact Moomoo Customer Service as soon as possible through an official support channel:

Customer Service: +1 888 721 0610 Hours: Monday–Friday, 8:30 AM–4:30 PM ET Online Inquiry: Available 24/7 Email: cs@us.moomoo.com

You can also access support through the Moomoo app or the official Moomoo Help Center.

Reporting fraud to authorities

Depending on the circumstances, you may also consider reporting suspected fraud or investment scams to the appropriate government or regulatory authorities, including:

• The Federal Trade Commission (FTC);

• The U.S. Securities and Exchange Commission (SEC);

• The Financial Industry Regulatory Authority (FINRA);

• The FBI Internet Crime Complaint Center (IC3); or

• Your state securities regulator or other appropriate law-enforcement agency.

Frequently asked questions

Will Moomoo ask me for my password?

You should never disclose your Moomoo password or trading password to another person.

If someone claiming to represent Moomoo asks you to provide your password or other account security credentials, stop communicating with that person and contact Moomoo directly through an official support channel.

How can I tell whether an email, text message, or phone call is really from Moomoo?

Be cautious with unexpected communications, particularly those requesting personal information, account credentials, payments, transfers, or immediate action.

If you are uncertain whether a communication is legitimate, do not use the links, telephone numbers, or contact information provided in the communication. Instead, open the Moomoo app or visit the official Moomoo website and contact Customer Service directly.

Someone claiming to be from Moomoo contacted me through WhatsApp, Telegram, or another social media platform. What should I do?

Do not provide account credentials, verification codes, personal information, or send money or assets based on an unsolicited communication.

If the person claims to represent Moomoo, independently verify the communication by contacting Moomoo through an official support channel.

I joined an online investment group that is telling me which stocks to buy. Is that safe?

Use caution. Fraudsters have used social media and private messaging groups to promote investment scams and manipulate securities.

Do not make an investment decision solely based on instructions from an online investment group, social media account, or person you have not independently verified.

I already sent money or purchased a security because of a suspected scam. What should I do?

Stop communicating with the suspected scammer and contact Moomoo Customer Service as soon as possible if your Moomoo account was involved or you believe your account may be at risk.

Preserve all relevant communications and transaction information. You may also consider reporting the matter to appropriate law-enforcement or regulatory authorities.

Whether a transaction can be stopped, reversed, or otherwise addressed depends on the circumstances and the type and status of the transaction. Moomoo cannot guarantee that funds or assets transferred as part of a scam can be recovered.

Someone says they can recover money I lost to a scam if I pay them first. Is this legitimate?

Be extremely cautious. Fraudsters may target previous scam victims by claiming they can recover lost money in exchange for an upfront fee, tax, deposit, or other payment.

Do not send additional money solely on the promise that doing so will recover previous losses.

Learn more

For additional information about protecting your Moomoo account, see How to make my account more secure? and other resources available in the Moomoo Help Center.

Additional information about identifying and avoiding investment fraud is also available from the SEC, FINRA, FTC, and other government and regulatory authorities.

Important information

Moomoo Financial Inc. provides self-directed brokerage services. MFI does not provide investment advice or recommendations. Information provided in this article is for general educational and informational purposes and is intended to help customers recognize common fraud and scam warning signs.

Fraud and scam techniques change frequently, and the examples described above are not exhaustive.