Have you heard about Fincompound.com Crypto Investment and want to invest? Are you being approached by an Chinese soliciting for your money and promising you giveaways? Are you curious to find out if the company is scammed or legitimate? Check out this review to know information about Fincompound and the reasons you should be wary of this fake Crypto Investment platform.
Why Should Avoid Fincompound.com
The website isn’t regulated by any regulatory body, so the owners behind it are able to part from your funds at any time.
They charge commissions and high 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 in the end of the day, you are unable to withdraw without losing your cash.
They steal sensitive and private information.
People At Risk Of Being Defrauded By Fincompound.com
What is Fincompound?
Fincompound which is available at Fincompound.com is a fraud Crypto Investment Platform that claims to offer trading in Crypto and offer a high returns on investments. It claims it was developed for those interested in cryptocurrency but with no understanding of trading or the workings of cryptocurrency.
According to the site, it claims to provide secure storage to store digital assets by combining of cold wallets and Multi-party computation (MPC) technology. It also claims to utilize the modern technology to keep your money secure and stay in front of any vulnerabilities or attacks to exploit. It also boasts the best liquidity and the lowest costs but this is just an excuse to swindle victims who are not aware.
However, this Fincompound is a fraud It is merely one of the aforementioned fake crypto trading websites designed by scammers in order to defraud innocent investors. The scammers make a lot of websites with the same design and design, however they have different names. The websites have the same designs and the identical about Us as well as Same Contact Us info. There are a lot 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 website via Social media and referral links
Scammers also set up multiple accounts with AI Generated Images, these fake accounts are then utilized to distribute unique referral codes and links to Fincompound’s site in order to spread the access.
At the beginning, they entice you fraudulent promises of huge returns and low risk, freebies.
Then, you will be requested to supply the details of your financial and personal details.
Then, you are then required to pay an amount that is minimum (usually $250) to allow you to begin trading.
When the time comes to withdraw your funds they have a myriad of excuses. Often, you’re asked to pay a tax amount that is much higher than the initial deposit. When you do, you can’t withdraw the money and you’ve been swindled.
The scammers continue to launch brand new “systems” as well as “apps” under different names such as Dotxbep, Dotxswap an attempt to avoid the bad reviews so they can continue to trick users into signing up.
It is clear Fincompound is a fraud since a number of customers have left negative online reviews, describing Fincompound what it really is, a scam.
One investor had this to quote:
Fake social media accounts Beware of these fraudsters – they use fake social media sites to trick users into putting their hard-earned cash into cryptocurrency, which they then take. This is a fake trading platform using fake cash!.
Social Media Users
People searching to Crypto Airdrops.
How To Identify Similar Crypto Scam Investment Platforms Like Fincompound
These are easy steps or methods to spot others that are similar to Scam cryptocurrency investment platforms:
Zero Or Minimal Contact Information
They provide so many appealing deals that sound too amazing to be true, and as the saying goes”If something is too good to be real then it’s.
There aren’t any regulations or license information on the site.
Additionally, there are 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 examples are red flags that to be aware of prior to investing.
What To Do To If You Have Fallen Victim Of The Fincompound Crypto Scam
If you’ve invested in Fincompound and been cheated this is the correct actions to take to protect yourself and try to recover the money you lost, however difficult this could be:
If you’ve fallen for the scam to scammers, it is recommended that you stop all communication with these scammers since any communication with them could cause you to be asked for money again, and promising of releasing funds held.
Contact your bank to find out if they are able to reverse the funds that was sent.
Change your crypto wallet’s address and password to prevent any type of security breach or hack.
Make sure to report the scam to the authorities that are required. Examples of these authorities include, FTC, CFTC, IC3.
You should have ample documentation with you, proof of every interaction, exchange and transaction.
Before investing, make sure you do some research on the Investment Platform.
In the above we can see it is evident that Fincompound Trading is a scam as was Dotxbep which we previously discussed Investors should be wary of these websites as they are designed to make money off unwary investors.