Transfer of bitcoin to EUR

MGM GLOBAL wants me to wiretransfer 13'500 EUR to an account in Portugal, to convert 3.76 BTC into EUR. Is this a fraud?

MGM Global is a fake broker that wants to scam you and its fraudulent activities have drawn warnings from two financial regulators. Please stop sending any money or information to it and ignore its requests.

While MGM Global is allegedly domiciled in the UK, there are no indications that it is registered with the Financial Conduct Authority (FCA). As such, to warn the public about this unauthorized firm, the FCA has issued a warning against it, advising investors to steer clear of MGM Global. Furthermore, the Belgian Financial Services and Markets Authority (FSMA) has also added MGM Global to its warning list as a fraudulent trading platform. The full warning list can be accessed here.

Therefore, MGM Global is a fraud scheme and any requests or excuses they make are meant to deceive you. We strongly suggest you do not trust them.

Moreover, crypto trading is a regulatory headache for governments across the world and regulators are still working on how to manage the risks involved. As a result, if any violation occurs, it is very hard for both victims and authorities to recover the money. Please think long and hard before investing in cryptocurrencies.