Coincrypto is another threadbare cookie cutter scam crypto platform designed as a front to steal funds from investors.
The platform and app are fake, yet Coincrypto, or coin-crypto as per the domain name, purports to offer ‘locked mining’, together with trading services ‘anytime, anywhere, online transaction’.
Looking at the quote above, you can see that this isn’t even a professional attempt at a scam.
Much of the content is just as illiterate and contains numerous grammatical mistakes which is always a huge red flag.
How to tell Coincrypto is a scam platform
There are many things wrong with this site, and its obvious within a few seconds that this isn’t a legitimate financial platform.
Other things that give away Coincrypto as a scam include:
- The domain name is only a month old.
- There is very little content on the site, and what’s there is poorly written.
- There’s none of the usual functionality of a crypto trading platform.
- There are no social media channels associated with the platform.
- There is no information about the company, team or where they’re based.
- Having searched Google, it’s difficult to find any information about this site.
- The site is a mirror image of many other scam platforms that have been seen this year.
How the Coincrypto scam works
Investors are lured onto the platform by scammers who claim that huge profits are guaranteed.
Once victims have parted with their money they soon see their account balance start to grow, but if they try to withdraw their funds the problems start.
The scammers demand a tax or commission to release the money, which is payable on not only their deposit amount but also the fake profits as well.
If the victim pays the extra fee, the scammers steal this money as well and come back with fresh demands for cash.
At no point do they return any of the funds and they eventually disappear, close down the site and open a new one.
Can I get my money back from the Coincrypto scammers?
It’s extremely difficult to track the scammers down, and getting your funds back is even harder.
However, authorities in various countries around the world are cracking down on this type of crime.
It’s always a good idea to report the crime so at least if the police do secure the return of any funds, you might get some money back.
If nothing else, it might help other people.
See the links below for more information on scams, and what you can do about them.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.