Coinsplanets is a scam crypto platform that claims to offer various trading products and services but is in a fact a fake site set up to steal investors’ money.
The scammers often target potential victims through social media or online dating platforms and befriend them using a fake profile.
The chat soon turns to crypto and investing before the scammer mentions an investment opportunity to the victim.
They’ll use a variety of different tactics to persuade the victim to invest, including making them feel guilty about not taking up the offer and threatening to end the relationship.
Once the victim has started to invest, they’re encourage to keep on putting money into the scheme and are shown huge profits being added to their account.
However, if they try to take any of their money out, they’ll be blocked from doing so and told they need to pay a fee of some sort to secure the release.
But this is just another way for the scammers to extract more money out of the victim, and at no point will they be given their money back.
Coinsplanets red flags
There’s a lot wrong with the Coinsplanets website which reveals it to be a scam platform.
They include:
- Basic design with low quality images and grammatically incorrect content.
- Links that don’t go anywhere or give the information they purport to.
- No social media profiles.
- No official app store apps available.
- None of the regulatory or licensing information you’d expect.
- No company information or details about where they’re located.
- The promises of unrealistically high returns over a short space of time.
- The only contact information given is a single email address.
- A very low Domain Authority (DA) which apples very little traffic or inbound links.
- Automatically prompts you to connect your MetaMask or Coinbase wallet as soon as you open the page.
- Warnings on various sites that Coinsplanets is a scam site.
Is there any way of recovering my money?
If you’ve lost crypto to the Coinsplanets scam it’s unfortunately very difficult to retrieve your funds.
You should always report it the relevant authorities in your country, and the resources below might be of some use too.
There are private companies that might be able to help which I’ve written about here.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.