The alleged online broker Sia-Coins sells itself as a credible platform for trading cryptocurrencies. However, there is ample evidence that everything at Sia-Coins is by no means straightforward. More and more traders are reporting phone terror, rip-offs, and investment fraud in connection with Sia-Coins. All traders lost their capital invested with Sia-Coins. More and more doubts are spreading. Meanwhile, many traders of Sia-Coins are afraid that it is an investment scam. The website of Sia-Coins has not been shut down yet. All the traders of Sia-Coins are wondering if they have become victims of an investment scam? And what can the investors of Sia-Coins do if the suspicion of investment fraud is confirmed? Will the traders of Sia Coins get their money back? Does it make sense to file a criminal complaint against Sia Coins with the police? Where can I get help with investment fraud?
Sia-Coins: Transparent affirmations on sia-coins.com!
What do perplexed prospective investors read on the Sia-Coins website? "Since the emergence of more and more attractive opportunities to invest in currency markets, Sia-Coins has developed a platform to connect casual investors with capital markets across formerly existing borders. Much of the population considered this a complex market reserved for professionals. With Sia-Coins, you can trade without much prior knowledge! With its user-friendly and intuitive interface, you can use Sia-Coins' trading platform within minutes and create a solid investment portfolio. This way, you'll be ready to make trades anytime, anywhere." That's just a small sample of the suspect claims prospective investors can find on Sia-Coins' website. None of these given promises by Sia-Coins have been kept. Sadly, the suspicious business behavior rather makes for disappointed investors and miserable experiences!
Sia-Coins: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the Sia-Coins makers is that the website does not contain any imprint with complete information about the legally responsible operators of the website. If you look at the corresponding domain data of the website www.sia-coins.com, you will not find any reference to the operators there and you will find that the website was only registered on 06.10.2021 and that the real domain owners are hiding behind an anonymization service.
Sia-Coins: Who is behind it?
Answering this question will be rather difficult for many investors, as the Sia-Coins makers do everything they can to conceal the true circumstances. However, this is not uncommon, as the perpetrators often operate various of these websites with the supposedly same business model and quickly bring them online, but also shut them down again just as quickly. In many cases, the top-level domain is also frequently changed, possibly to deceive the financial supervisory and law enforcement authorities. And who is the operator? There is no information about this on the website www.sia-coins.com. One finds only an obligatory telephone number as well as the obligatory support email address kundenservice@Sia-Coins.io. Also, the worldwide search for the Sia-Coins in the relevant registers leads to no result and clarifies that it concerns in this case a pure fantasy product.
Sia Coins: The customer acquisition of the investment cheats
Here the same procedure can be found again and again: To attract traders, the offers of Sia-Coins are promoted in all available media and channels. For example, advertisements are placed on social media, such as Facebook. Often, these offers are false claims. To increase the effect, they upload films on YouTube or Vimeo, in which interested investors are convinced with false 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". At the same time, an affiliate program is often started to incite others to intensively promote Sia-Coins.
Sia-Coins: 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 often also gain access to their victims' online banking. What is particularly criminal, however, 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 increase the stakes further? But what happens next?
Sia-Coins: Repayment of the money is linked to conditions
However, an exit is then usually no longer possible, rather a repayment of the money is linked to further deposits. This is where the employees come in, claiming alleged tax debts and commission payments. These would have to be settled first, then it would come to the disbursement of the allegedly obtained profits. For this purpose, tax and commission invoices are sent to the investors, which are often decorated with fake coats of arms and, of course, have to be paid urgently. However, it is never possible to offset these payments against the supposedly achieved profits. If one refuses to make these further payments, the supposed profits are often turned into losses and the customer is harmed to the maximum. However, this is usually not the end of the horror, but the investors are often permanently confronted with calls from other dubious providers, which indicates that the contact details of the investors are further traded among the investment scammers. In the end, the "saving angel" regularly comes forward, claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraudster gang. The next rip-off! And of course, the "saving angel" also wants a small fee - in advance!
Sia-Coins: Scheme of investment fraud?
There is no legitimization of the Sia-Coins trading platform. Sia-Coins lacks the legitimacy 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 authorization from the Swiss Financial Market Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. It is easy to see that Sia-Coins is a scheme of capital investment fraud. All victims of Sia-Coins should be advised to consult an investment fraud attorney immediately.
Sia-Coins: Claims for damages against banks
Anyone wishing to provide financial services and investment transactions in Germany requires a permit from the Federal Financial Supervisory Authority (BaFin). It is prohibited to conduct, support or facilitate such business, even across borders in Germany. Companies and persons who nevertheless participate in such transactions are obliged to pay damages to the traders concerned. Such investment fraud cases would have been difficult to imagine without such banks.
Sia-Coins: Investors want their money back!
Fortunately, the situation is not as hopeless as it seems. The aggrieved traders can file a lawsuit against those involved in the investment fraud and reclaim the money they invested. As of now, it is rather unlikely that the Sia-Coins investment fraudsters will be caught short, but there is reason to hope. Especially because the transactions of the funds were made through accounts provided by reputable financial institutions. They failed to check the traders' deposits, some of which were large and therefore subject to controls, and their onward transfer for illegality. Such failures made investment fraud possible in the first place.
Sia coins: They want their money back! How does it work?
Equipped with this knowledge, no trader would have engaged in transactions with Sia Coins. Now the only alternative left for the deceived is to seek compensation for damages. Many investors cannot even imagine that there is any real chance of ever seeing 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 are obliged to take action against money laundering. This is where we come in if there is a good chance of success. To this end, essential points should be clarified. Where were the funds moved from Sia-Coins to? Are there realistic prospects that the aggrieved traders will get back their money invested in Sia-Coins? What actions are required now? You can get the answers to these questions from a lawyer specializing in investment fraud.
Sia-Coins: Who can help?
What to do in case of investment fraud? What help in the case of investment fraud can the victims of Sia-Coins hope for? Sia-Coins victims can ideally find the help they need from an experienced investment fraud attorney. He or she will be able to take care of your Sia Coins case both in terms of the criminal aspects of 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 Sia-Coins.
Sia-Coins: Follow the money!
The internationally active investor protection law firm Resch Rechtsanwälte has been investigating such abuses in the unregulated capital market for more than three decades. The mode of operation of the Sia Coins is in such a way seen as nothing new. Over the decades, Resch Rechtsanwälte has developed powerful equipment for tracking down the shifted funds and tracing the money flows. In times of the Internet, it has become almost impossible to make funds disappear. The more expeditiously investors follow the money trail, the more promising it is that they can have their money secured. It is now important that traders who have been harmed by Sia-Coins act without delay.
RESCH Attorneys at Law - Experience in investor protection since 1986
If you have been a victim of Sia-Coins 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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+ 49 30 / 88 59 77 0