Cryptopoint - Is this investment fraud?
Cryptopoint pretends to provide the trader with the best possible conditions to earn equally fast and safe money in online trading. Everything at Cryptopoint is investment fraud. Not a penny has been invested. Nothing is traded at Cryptopoint. The money has landed right in the pockets of the investment scammers. Everything that the investor sees on his screen is fake. What help is there for investment fraud? How does the investor get his money back? What can investors do who have been defrauded by Cryptopoint?
Cryptopoint: Baseless promises on the website
What do the perplexed visitors have to read on Cryptopoint's website? "CryptoPoint helps you understand everything about digital currency markets and trading strategies with detailed e-books and learning materials." This is just a small sample of the suspect promises that curious visitors can find on Cryptopoint's website. Not a single one of these full-bodied promises from Cryptopoint has been delivered. Sadly, the dubious business practices rather make for unhappy investors and bad experiences!
Cryptopoint: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the Cryptopoint makers is that the website does not contain an imprint. Thus, the complete information about the legally responsible operators of the website is missing. If you take a look at the domain data of Cryptopoint's website, you will not find any information about the operators. However, one learns that the domain was only registered on 15.03.2016 with GoDaddy Online Services Cayman Islands Ltd.
Cryptopoint: Who is behind it?
Answering this question will be rather difficult for many investors, as the makers of Cryptopoint do everything they can to conceal the true circumstances. However, this is nothing unusual. The perpetrators usually operate several of these websites, in this case, the Bitcointrader.software, Xtraderfx.net, Xtrader-fx.com, and Xtraderfx.com websites, which have also been eliminated in the meantime, always with the same fraudulent business model. These sites are created in advance, quickly put online, and just as quickly taken down again. The top-level domain is often changed to deceive financial regulators and law enforcement agencies. But who is the operator? On the Cryptopoint website, there is only sparse information about this. The company GPay LTD with the business address 47 Churchfield Rd London W3 6AY is given, but the makers of Cryptopoint cannot be found under this address. In addition, there is the obligatory support e-mail address and the telephone number 02033183272. The worldwide search for Cryptopoint in the relevant registers leads to no result. This makes it clear that this is a pure fantasy product.
Cryptopoint: The customer acquisition of the investment fraudsters
Here the same procedure can be found again and again: To acquire new investors, the recommendations of Cryptopoint are presented in all available media and channels. Again and again, these are incorrect claims. To increase the effectiveness, they upload promotional videos on YouTube, in which interested investors are convinced with fictitious references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with a misleading reference to the TV show "Die Höhle der Löwen". In parallel, an affiliate program is often launched to spur others to beat the advertising drum for Cryptopoint.
Cryptopoint: Criminal business practices
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their years of experience and their satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Usually, the investors start with a small sum as employment. Beforehand, investors are also often motivated to install remote maintenance software, such as AnyDesk or TeamViewer on their computers, so that assistance can supposedly be provided with the first steps. In many cases, the computer is subsequently manipulated and unwanted transactions are carried out. In the process, the investment fraudsters also frequently gain access to their victims' online banking. However, what is particularly criminal is when supposed profits are displayed on the trading platform to entice the customer to place further high stakes. In some cases, even small sums are returned to lull investors into a sense of security. Who then does not want to further increase the stakes? But what happens next?
Cryptopoint: Repayment of money is subject to conditions
Once in, an exit is mostly impossible. Rather, the administrators of the investment scammers tie the repayment of the money to further deposits. This is where employees come in, claiming alleged tax debts and commission payments. If these are settled, it would come to the disbursement of the allegedly obtained profits. The perpetrators send the investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. A clearing with the allegedly obtained profits is never possible. If an investor refuses further deposits, senseless transactions convert alleged profits into losses and the customer is maximally damaged. This is not the end of the horror, but investors are permanently confronted with calls from other dubious providers. This indicates that the contact details of the investors are further traded among the investment fraudsters. In the end, a "savior" regularly comes forward, claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraud gang. The next rip-off! And of course, the "savior" wants a small fee - in advance!
Cryptopoint: Scheme of investment fraud?
There is no authorization from the online broker Cryptopoint. Cryptopoint lacks the regulation of a recognized European financial regulator, such as the English Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is often used by brokers. Likewise, there is no approval from the Swiss Financial Market Supervisory Authority (finma), which is responsible for Switzerland, or the Financial Market Authority (FMA) of Austria. For this, there is a warning issued by the FCA on 23.05.2018. It is also hard to miss that Cryptopoint is a scheme of capital investment fraud. All those harmed by Cryptopoint are advised to contact an investment fraud lawyer immediately.
Cryptopoint: Where do the investment fraudsters operate actively?
Unfortunately, Cryptopoint's illegal activities are not limited to the English-speaking world. Because Cryptopoint addresses German-speaking investors as well, it is only a matter of time until the defrauded investors of this speaker group also come forward. Going through the list of regulators is recommended before any financial commitment to reduce the risk of becoming a victim of investment fraud.
Cryptopoint: Investors want their money back!
The situation is far from being as hopeless as it seems. The aggrieved investors can take action against the investment fraud and demand their invested money back. As of today, it is rather unlikely that the investment fraudsters of Cryptopoint will be seized promptly, but there is still reason to hope. This is especially true because the money transactions were made through accounts provided by financial institutions that strive to maintain a good reputation. These have demonstrably failed to check the investors' deposits, some of which were large and therefore subject to controls, and their onward transfer for illegality. These failures made investment fraud possible in the first place.
Cryptopoint: They want their money back! How does it work?
Knowing this, no investor would have agreed to do business with Cryptopoint. Now the only alternative left for the victims is to try to get their money back. Many investors cannot even imagine that there is any real chance of ever seeing their money again. Probably all of them are now asking themselves, can they get their money back? Clearly yes! There are numerous legal bases to fall back on. The generic term is "money laundering." When investment fraudsters collect money, the crime of money laundering is committed. Financial institutions must take action against money laundering. This is where one starts with good chances of success. In this regard, essential questions must be answered. Where were the funds embezzled from Cryptopoint taken? Is there any chance that the investors who have been harmed will get back the money they invested with Cryptopoint? What actions are due from now on? A lawyer specializing in investment fraud will be happy to answer such questions thoroughly
Cryptopoint: Who can help?
What to do in case of investment fraud? What help in the case of investment fraud can the victims of Cryptopoint hope for? Cryptopoint victims can ideally find the help they need from an experienced investment fraud lawyer. He can take care of your case with Cryptopoint both in terms of the criminal aspects of the investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading is also a possibility because he is also familiar with the methods of fraudulent brokers, such as Cryptopoint.
Cryptopoint: Follow the money!
Abuses of this kind on the grey capital market pursue the internationally active Anlegerschutzkanzlei Resch attorneys for over 30 years. The working method of Cryptopoint is in this respect nothing new. Over the decades, Resch Rechtsanwälte has developed powerful equipment for tracking down misappropriated funds and tracing the flow of money. Making funds disappear has become difficult in the age of the Internet. The faster investors track the money, the more likely they are to get their invested capital back. Above all, it is important that investors harmed by Cryptopoint take immediate action.
RESCH Attorneys at Law - Experience in investor protection since 1986
If you have become a victim of Cryptopoint and want to know if and how you can get your money back, call +49 30 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.
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