Has cosetek closed down

Users of a cryptocurrency app fear they have lost thousands of pounds after they were unable to make withdrawals from the site, the BBC has been told.

Distraught investors in a supposed cryptocurrency trading site have found that the platform has shut down and it is impossible to withdraw money. The idea was that bots would automatically buy and sell cryptocurrencies on your behalf - all you had to do was click an app button a few times a day. Which sounds ominously like a pyramid scheme. Coscoin also claimed to be a cryptocurrency, though I cannot find any evidence of it trading on any of the main currency trading platforms. On November 23, Coscoin offered to match the deposits of anyone who further invested as an apparent Thanksgiving Day promotion which now some investors say looks like a final push to get more money before the shutters came down. Lisa Auckland, a nurse from Middlesbrough, says she was recruited by a member who regularly sent screenshots apparently showing how much money he was making.

Has cosetek closed down

The private registration was last updated on July 22nd, Meiqia is a Chinese software company based out of Beijing. This suggests whoever is running COS has ties to China. The presented ruse is COS affiliates log in and click a button the more invested the more the button needs to be clicked :. Clicking the button purportedly generates revenue via quantitative trading, which for some reason COS shares a percentage with its affiliate investors. In reality clicking a button inside COS does nothing. All COS is doing is recycling newly invested funds to pay earlier investors. Most of them last a few weeks to a few months before collapsing. This tends to happen without notice, leaving the majority of investors with a loss inevitable Ponzi math. Update 23rd November — COS has collapsed. Loads of people who i work with have setup accounts…tried telling them its a ponzi scheme,no joy …but at least a couple of people have changed their minds now about putting money in after i showed them this. Hi, me and a lot of my friends have fallen victim to this one.

Your email address will not be published. Key crypto terms and what they mean. Nov 11th, at pm Oz Q.

The COS Ponzi scheme has collapsed. COSCOIN has been attacked by hackers from unknown sources, and the withdrawal amounts of all users have been maliciously tampered with. This is the same bonus currently being run by ITP Corp , suggesting both Ponzi schemes are likely being run by the same group of Chinese scammers. Investors logged in, clicked a button and were led to believe this corresponded to fictional trading activity. I feel your pain Mark. Feel so stupid for believing in it all, I never thought I was the sort of person who would be caught out by something like this. Your email address will not be published.

The COS Ponzi scheme has collapsed. COSCOIN has been attacked by hackers from unknown sources, and the withdrawal amounts of all users have been maliciously tampered with. This is the same bonus currently being run by ITP Corp , suggesting both Ponzi schemes are likely being run by the same group of Chinese scammers. Investors logged in, clicked a button and were led to believe this corresponded to fictional trading activity. I feel your pain Mark. Feel so stupid for believing in it all, I never thought I was the sort of person who would be caught out by something like this.

Has cosetek closed down

Users of a cryptocurrency app fear they have lost thousands of pounds after they were unable to make withdrawals from the site, the BBC has been told. Coscoin, also known as Cos or Cosetek, describes itself as "a leading AI quantitative trading platform" where people can double their investments. Coscoin has not responded to the BBC when asked for a comment.

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But most interestingly — I found some of the same text used on cosetek website that was used on the IDA scam app which was around about 6 months ago and made the headlines in Pakistan after scamming people for millions. Ozedit: snip, see below. Looks like my money is lost. Full participation in the attached income opportunity requires a minimum 30 USDT investment. Leave a Reply Nov 1st, at pm Ted Q. One said he has made 3k since 10th July and the other one reckons to have made 24, since January. I started to investigate and found this website very useful for demonstrating that this Ponzi scheme has been done a dozen times over and always ends suddenly with people losing their money. Users across the UK have reported that they have lost their investments. Your email address will not be published.

Police have warned people not to invest in a cryptocurrency investment platform following reports of fraud. Coscoin, also known as Cos or Cosetek, describes itself as "a leading AI quantitative trading platform" where people can double their investments.

I literally posted weeks ago that Jump Tradiny is the same scammers behind this one. My husband was offered to join COS around 2 months ago. Pathetic, and typical lazy journalism. I pray I work something out before this house owners brings their embarrassments. Dec 6th, at pm Khan Q. Unfortunately the other half have now lost a lot of money. Oct 3rd, at pm stan Q. Aug 23rd, at pm Oz Q. Years of austerity come back. Users of a cryptocurrency app fear they have lost thousands of pounds after they were unable to make withdrawals from the site, the BBC has been told. Nov 10th, at am Oz Q.