Have you heard about Fincompound.com Crypto Investment and want to invest? Are you being approached by someone Chinese soliciting you to invest, and offering giveaways? Are you interested in knowing if the company is scammed or legitimate? Find this review to learn the details about Fincompound and the reasons you should be wary of this fake Crypto Investment platform.
What is Fincompound?
Fincompound is located on Fincompound.com is a fraud Crypto Investment Platform that claims to allow trading of Crypto and offers a high returns on investments. It claims it was designed for those who were interested in cryptocurrency markets but with no understanding of trading or the workings of cryptocurrency.
According to the site, it promises safe storage to store digital assets through a combination of cold wallets and Multi-party computation (MPC) technology. It is also claiming to use modern technology to keep your money secure and stay ahead of threats and exploitative attempts. It also boasts the best rates of liquidity and low fees but this is just an excuse to defraud innocent victims.
But this Fincompound is a fraud and is part of the aforementioned fake crypto trading websites designed by fraudsters to rip off innocent investors. The trick they employ is to create a variety of websites with the same design and design, however they have different names. They share the same design as well as the identical about Us as well as Same Contact Us info. There are many of these identical networks of fraud Crypto Investment Platform and they comprise: Dovletex, Teratrades, Belenex.
How The Fincompound.com Scam Works:
They bring traffic to the site via Social media and referral links
Scammers create accounts by using AI Generated Images, these fake accounts are then utilized to distribute unique referral codes as well as links to Fincompound’s site to distribute their access.
At the beginning, they entice you false promises of high returns, giveaways with low risk.
You are then requested to supply the details of your financial and personal details.
You will then required to pay the minimum amount (usually $250) to allow you to begin trading.
When it comes time to withdraw your money, they will come up with a variety of excuses. Most of the time, you’re asked to pay tax that is much higher than the initial deposit. If you pay, but you aren’t able to withdraw your funds You’ve been scammed.
What To Do To If You Have Fallen Victim Of The Fincompound Crypto Scam
If you’ve invested in Fincompound and been cheated These are the steps you should take to safeguard yourself from further losses or to try to retrieve the money that was lost, no matter how difficult it may be:
If you’ve been a victim you are advised you stop all communication with these scammers because any other contact could result in a request for money again, and promising of release of held funds.
Contact your bank to inquire if they are able to reverse the amount of money you that was sent.
Change your crypto wallet’s address and password to prevent any type of security breach or hack.
Inform the authorities that are required. Examples of these authorities include, FTC, CFTC, IC3.
You should have ample proof with you, evidence of each interaction, communication and transaction.
Before investing, make sure you do some research on the Investment Platform.
The perpetrators behind these scams just keep launching brand new “systems” or “apps” with new names such as Dotxbep, Dotxswap an attempt to get around the bad reviews so they can continue to trick users into signing up.
It is clear Fincompound is a rip-off since a number of customers have left negative reviews on the internet, calling Fincompound what it really is: a SCAM.
A few investors made this declare:
Fake social media profiles Beware of these fraudsters – they use fake social media sites to trick users into putting their hard-earned money in cryptocurrency, which they then use to steal. This is a fake trading platform using fake cash!.
4 Reasons Why Should Avoid Fincompound.com
The website is not controlled by any regulating agency so the owners behind it are able to part of your money at any time.
They pay high commissions and fees.
There’s insufficient information on the site.
When it’s time to withdraw the money, you are greeted with a myriad of reasons, and then at the end of the day, you are unable to withdraw, and you could lose the money.
They steal sensitive and private information.
People At Risk Of Being Defrauded By Fincompound.com
Social Media Users
People searching are looking Crypto Airdrops.
How To Identify Similar Crypto Scam Investment Platforms Like Fincompound
These are the easy steps or ways to recognize others that are similar to Scam Crypto Investment Platforms:
Zero Or Minimal Contact Information
They have so many tempting deals that sound too amazing to be true, and as the saying goes”If it’s too good to be real then it’s true.
There aren’t any regulations or license information available on the site.
Also, fake Celebrity endorsements, the most popular of all is the use of Elon Musk’s image and claims that he has endorsed the website. These and other fake endorsements are red flags that you should look out for before making a purchase.
In the above we can see the fact that Fincompound Trading is a scam as was Dotxbep that we have previously reviewed Investors should be cautious of these websites as their goal is to scam off unwary investors.