24CryptoTrade.com | Fake or Real?

Website Name

24CryptoTrade.com

Website Type

Cryptocurrency Trading

Is 24CryptoTrade Fake or Real?

Why Is 24CryptoTrade Fake?

24CryptoTrade claims to be a platform for trading cryptocurrencies. They offer three plans which require investments between $300 – $1,500 for incredible returns in the range of 533% to 547%.

A domain name lookup of 24CryptoTrade shows that it was registered on 18th October 2019. The registrant’s name and location have been blocked for privacy.

The website content seems to be plagiarized as several other websites are using the same content.

The following 11 websites have the same content as 24CryptoTrade. They are all providing cryptocurrency or forex trading services. These websites seem likely to be scams due to their unrealistic promises of extremely high returns on investment:

• 247WorldTrade (247worldtrade.com)
• Binary Expert (binaryexpert.org)
• CryptoTradeLite (cryptotradelite.com)
• DepositCoin (depositcoin.net)
• EliteTrader4 (elitetrader4)
• FXCityPlus (fxcityplus.com)
• FxStockIndex (user.fxstockindex.com)
• Grand-Paying (grandpaying.pw)
• Guaranteed Expert (guaranteedexpertoptions.com)
• KTS KingTrades (kingtrades.live)
• Trust Trade (trust-trade.co)

The home page claims that the platform has been running for 2,605 days, which translates to more than 7 years. This is clearly a lie as the website has only been active since late 2018. The same lie has been perpetrated in the footer of the website.

24CryptoTrade is promising unheard of ROIs and the methods for achieving these returns are not clearly mentioned. There is a section on the page which talks about forex trading next to a video from 2014 explaining bitcoins. Though there are some similarities, forex trading and bitcoin trading are fundamentally different.

There are some testimonials provided which seem to be fake. The content of the testimonials can be found on several other websites and the photographs are stock images lifted from various sources.

The following websites have the same testimonials as 24CryptoTrade. These websites are operating under the guise of cryptocurrency mining and stock/forex/binary options trading platforms. They are highly likely to be scams as there are several red flags similar to 24CryptoTrade. They seem to contain the same fake testimonials. These websites also have similar names. Most of them are completely identical or use the same few templates. This suggests that they could be part of a network of High-Yield Investment Program (HYIP) scams or have some sort of common origin. The list of sites is given at the end of the article.

24CryptoTrade has no social media presence. The contact details given are an email ID, a phone number and an address. The email ID and phone number were found to be valid when tested using MailTester and TextMagic respectively. The address provided is incomplete and is of a location in New York. However, the phone number carries an area code of San Diego, California. The name is displayed as Jonny Marcos when checked on TrueCaller.

It has to be concluded from the gathered information that 24CryptoTrade is extremely likely to be a scam. The returns being promised are impossibly high and there is no clarity on the methods being used to achieve such ROIs. The age of the platform being mentioned as 7+ years is an obvious lie. The contact details seem suspicious as the address is incomplete and the phone number is of a different state. The entire content of the website is plagiarized and there are no genuine user reviews to attest 24CryptoTrade’s authenticity.

24CryptoTrade also seems to be part of a huge network of similar investment scams or might be involved in the same kind of fraud. It is advisable to avoid investing with 24CryptoTrade as it does not seem trustworthy. It shows the signs of an HYIP scam which makes it likely to be a Ponzi scheme.

*Update*

Thanks to an Indian user named Sunil who reached out to me on Quora, I have been able to confirm the suspicion that 24CryptoTrade is a scam. Sunil told me that he was introduced to the platform by a user on Instagram who goes by the name Isabella Lee (@isabella_lee895). The account seems to be fake as the images can also be found in a profile on the site Badoo under the name Sabina. An image on Instagram using the hashtag #cashwarriors has also used the same image, but the exact post could not be located.

To prove the authenticity of 24CryptoTrade, Isabella shared some documents with Sunil which included the passport of a person named Scott Lofgren (not Jonny Marcos) and doctored registration documents which again falsely try to portray 24CryptoTrade to be operating since 2012. The registration also shows that the company was registered in Houston, Texas even though the website says it is located in New York.

After making an initial investment of $93, Isabella pretended to deposit another $200 into his account. He was asked to pay an additional $550 as ‘server charges’. Scott updated Sunil’s account to show a deposit of $800. Later, the account showed a profit of $18,129. Sunil became suspicious when he was asked to pay $1,629 as a fee to withdraw this profit. After he refused, the scammer turned nasty and started abusing him on WhatsApp. Sunil ended up losing a total of $643.

I appreciate Sunil for reaching out to me. Most victims of ‘get rich easy’ scams are too embarrassed to share their experience. Sunil’s story is an insight into how these scammers lure people on social media with fake accounts and big promises. It is important to be aware of such scams so that you can point out the red flags.

As you can see from the list shared in the article, there are literally hundreds of such fake platforms created by scammers to exploit people. The only way to be safe is to know the signs of a scam to look out for.

How to Get Your Money Back from a Scam

Remember: If something seems too good to be true, it probably is.

If you have been a victim of an investment scam, you can take the following steps:

1. File a complaint with the payment portal. However, investment scammers mostly use methods such as Bitcoin, Western Union, MoneyGram and other untraceable methods which make refunds impossible.
2. Leave a negative review on review portals such as Scamadviser and TrustPilot
3. Report the website to Google using the Suspicious Site Reporter extension for Chrome
4. Give a low rating to the website on Web of Trust. You can also install their extension for the same.
5. If the company has a listing on Google My Business or Google Maps, file a complaint using the Business Redressal Complaint Form. Also, leave a negative review explaining what kind of experience you had.

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Disclaimer: This review is intended for information only and should not be relied on when making financial or business decisions. If you are a website owner and would like to provide clarifications regarding your business and/or website, please get in touch using the Contact Form.