April 20, 2024

Is Cotps.com Legit: COTPS displays the traits of a typical HYIP (high-yield funding program) rip-off, which lures traders with the promise of excessive passive returns.

Operating below numerous names comparable to COTP and Cryptos OTC Trading Platform, COTPS emerged in 2019 as a worldwide over-the-counter buying and selling platform. They boasted of attracting over 100,000 clients inside a 12 months.

However, the web site has not too long ago change into inactive, leaving many people in quest of various strategies to get well their investments. In an effort to help the victims in in search of justice, now we have performed a complete evaluate of COTPS.

Is Cotp Legit?

In addition to the evident disappearance of the platform following its publicity on numerous social media platforms, there are a number of extra alarming information to think about.

The COTPS dealer presupposed to be headquartered within the US and controlled by FinCEN and MSB. However, it is very important observe that FinCEN, the Financial Crimes Enforcement Network, is liable for combatting monetary crimes and doesn’t function a regulatory physique that grants monetary licenses.

Similarly, MSB, which stands for Money Services Business, is a register maintained by FinCEN that accommodates details about registered companies. It is just not an entity that gives monetary regulation.

For a platform to supply monetary providers within the US, it could sometimes want regulation from authorities comparable to FDIC, FRB, or SEC.

Additionally, COTPS claimed that each buyer can be coated by FDIC insurance coverage for as much as $250,000 per buyer, which was one other false assertion designed to deceive.

In actuality, COTPS operated as a HYIP rip-off, attractive traders with guarantees of excessive passive revenue and deceptive claims of FDIC insurance coverage protection. It falsely represented itself as being US-based and controlled by MSB and FinCEN.

Ultimately, these had been all deceitful techniques employed by the corporate, and as soon as that they had amassed sufficient funds, they disappeared with out a hint.

Is Cotps.com Legit

What Is The Cotp Trading Platform?

COTP, also called COTPS, stands for Cryptos OTC Trading Platform. It is an internet-based platform that purports to supply traders a supply of passive revenue.

As per a TimesNewsWire report, the platform was established in November 2021 by Mars Brown. Its major goal is to reinforce the effectivity and transparency of digital foreign money buying and selling. This is achieved by way of the supply of varied providers catering to blockchain fanatics worldwide.

These providers embody over-the-counter (OTC) buying and selling, arbitrage buying and selling, and pockets performance. The platform asserts the utilization of synthetic intelligence and algorithms to routinely commerce digital currencies and generate income for traders.

Allegedly, investing within the platform can lead to a 100% revenue inside a 30-day interval.

Is Cotps.com Legit

Is The COTPS Trading Scam Presently In Operation?

According to the supplied timeline, the COTPS brokerage asserted that it was functioning between March 2019 and February 2022.. It is value noting that the area registration extends till 2028, leaving a risk for COTPS to resurface below a brand new identify whereas perpetuating the identical Ponzi scheme.

The COTPS buying and selling rip-off primarily focused people within the following areas:

United States

The Role of COTPS Support Team within the Scam

Support groups play a vital function in Ponzi schemes as they set up private connections and persuade potential victims to affix. COTPS employed numerous techniques, together with posting images of people claiming to be in cost and creating TikTook, YouTube, and different social media content material.

However, it was found that each one the photographs used had been inventory pictures, and the movies had been produced by paid actors. As a consequence, the true identities of these working the rip-off stay unknown.

Moreover, the help workforce constantly engaged with clients, intensifying the misleading storyline. Nevertheless, in February of this 12 months, the funding firm abruptly ceased its on-line presence and disappeared, forsaking a path of victims.

Is Cotps.com Legit

COTPS Reviews Reflecting the Experiences of Scam Victims

Numerous COTPS critiques present a glimpse into the experiences of those that fell sufferer to the rip-off. Some people have shared their accounts by way of YouTube movies, documenting their firsthand encounters. Others have posted critiques on platforms comparable to Reddit, Trustpilot, and different respected web sites, detailing their encounters with the fraudulent scheme.

How The COTPS.com Scam Works?

Customers had been inspired to speculate their funds by way of a cryptocurrency pockets and the USDT coin, which is pegged to the USD and maintains a steady worth towards the foreign money.

COTPS promoted its providers by way of the web site cotps-otp.com, guaranteeing a possible return of as much as 100% inside 30 days by using their automated buying and selling system and executing trades each 2 hours.

Upon making an preliminary deposit, purchasers gained the power to have interaction in cryptocurrency buying and selling, whereas the dealer’s workers promised them important income and bonuses for referring family and friends.

A referral system was carried out, permitting customers to progress from degree 3 and earn a 5% fee to degree 1 and earn a 15% fee. The firm assured returns of as much as 3.6% per day or 0.3% each 2 hours.

After the preliminary scheme failed, the corporate launched a brand new enterprise known as COTP Safe Miner below the area cotp.finance.

Customers had been inspired to attach their wallets, allow USDT buying and selling, switch funds, and earn passive revenue. Similar returns had been promised, with the potential of incomes as much as 12% by way of a referral hyperlink.

This follows the everyday mannequin of a multi-level advertising (MLM) scheme, which must be prevented.

Is Cotps.com Legit

COTPS.com Review 

COTPS.com Review 

COTPS, a buying and selling platform working as COTP change, utilized a regular InternetTrader interface. It inspired customers to take part in trades each two hours by leveraging an automatic buying and selling system that claimed to make use of superior algorithms for figuring out worthwhile alternatives.

The platform justified its spectacular returns by highlighting its proficiency in high-frequency transactions, implying its skill to manage the market and predict advantageous conditions for merchants.

However, the next COTP Safe Miner, launched after the preliminary rip-off failed, proved to be a weak imitation.

Which Assets Can I Trade with COTPS?

COTPS completely supported cryptocurrency as the only tradable asset. Clients had been inspired to enter the realm of digital cash and interact in foreign money exchanges primarily based on the corporate’s purported predictions. This strategy could have been efficient in earlier phases when people had restricted familiarity with the cryptocurrency market, previous to the proliferation of comparable scams.

According to an FTC report, crypto scammers managed to pilfer over $1 billion in 2021, and folks at the moment are extra attuned to their techniques. As a consequence, COTPS confronted difficulties and is now making an attempt to resurface by way of new fraudulent strategies.

Is There a Free Trial Option for COTPS?

The firm by no means supplied a Demo account possibility. To have interaction with COTPS, customers had been required to make a minimal deposit of 9 USDT for the bottom bundle, that means that testing the system required coming into the market with this quantity.

COTPS Affiliate Program Scam

Similar to MLM Based on the supplied info, it’s evident that the COTPS rip-off resembles a typical multi-level advertising (MLM) mannequin. The dealer’s major focus lies not within the success or sustainability of traders however in recruiting extra people into the scheme.

Once it turned obvious that clients’ income had been derived from the deposits made by their family and friends, the scheme unraveled, exposing the agency as a fraudulent operation.

What Can Victims of COTPS Fraud Do? – Persistence is Crucial

If you have got fallen sufferer to COTPS or an identical MLM rip-off, taking motion is essential. Inform us of your state of affairs, and our chargeback specialists might be keen to help you in pursuing a refund.

Time is of the essence, because the agency has already disappeared. Acting swiftly is critical to hint your funds and maximize the probability of acquiring a refund. Contact us by way of on-line chat to rearrange a free session and provoke the method earlier than it’s too late.

When did Cotps crypto begin?

According to the knowledge supplied, merchants can supposedly earn a day by day rate of interest of as much as 3.6% on their capital by participating in day by day buying and selling actions on the platform.

It is said that the platform was launched in 2019, and Cotps asserts that it operates below regulation in Canada and the USA.

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