Cryptocurrency Investment Platform
Is CryptoBase Fake or Real?
Why Is CryptoBase Fake?
CryptoBase is a website that claims to be a platform for cryptocurrency investment. They claim to provide up to 20% weekly returns, which is hard to believe and strongly suggests that CryptoBase may be a scam. They also give a 5% referral commission on deposits of investors, which is a sign that it may be a Ponzi scheme.
A domain name lookup of the website shows that it was registered on 11th August 2020. The registrant’s details such as name, location and contact details have been hidden for privacy. This means that the website is being operated anonymously.
Even though the domain name has been registered only in August, the About Us page of the website claims that CryptoBase has been operating since 2009, which is clearly a lie.
The entire content of the website seems to be copied. The same text used by CryptoBase can be found on at least 97 websites, all of which may be scams. The list of sites is given at the end of the article.
The home page also mentions a company name – Crypto Bit Business Ltd. This seems to be a random company name being used by scammers as there are many other websites that provide the same company name. The company registration information of Crypto Bit Business Ltd. does not show any relation with Crypto Base.
The home page has a list of ‘Recent Transactions’ that apparently shows names of investors along with amounts invested. This would normally be a huge privacy concern, however, the list is probably fake as there is no way to verify it.
CryptoBase does not have a social media presence. I could not find any reviews from investors either.
The contact details provided on the website are an address, phone number and email ID. All the details seem to be fake. The address only points to a building and there is no office number given. While a USA address has been given, the phone number has a +44 country code which is of the UK. The number does not have any information associated with it on TrueCaller and most probably does not exist. The email ID was found to be not working when tested using VerifyEmailAddress.
It seems quite obvious that CryptoBase might be a scam. Returns such as 20% per week being promised are highly unrealistic. Combined with the fact that members are given a 5% referral commission, it indicates that CryptoBase is likely to be a Ponzi scheme.
The website states that the company is operating since 2009 even though the domain name has only been registered in August 2020. The entire content of the website has been copied as there are at least 97 websites that use the same text.
The company name ‘Crypto Bit Business Ltd.’ also seems to be randomly used. Numerous other websites are using the same company name and the registration information does not show any relation between the firm and CryptoBase.
The contact details provided all seem to be fake. An incomplete USA address has been given along with a UK phone number that seems to be fake. The email ID specified was found to not work at all. It is advisable to avoid investing with CryptoBase as it does not seem to be a genuine platform.
Remember: If something seems too good to be true, it probably is.
To read about other Investment Scams, click here.
List of websites using the same content as CryptoBase
If you have been a victim of an investment scam, you can take the following steps:
- 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.
- File a formal police complaint with the Cybercrime department.
- Leave a negative review on review portals such as Scamadviser and TrustPilot
- Report the website to Google using the Suspicious Site Reporter extension for Chrome
- Give a low rating to the website on Web of Trust. You can also install their extension for the same.
- 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.
Disclaimer: The views expressed in this article are presented as an educated opinion based on facts and evidence. There is no malicious intent or attempt to defame any individual/s or organization/s. 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.