Crypto Investment Platform
Is Cryptobased Fake or Real?
Why is Cryptobased Fake?
Cryptobased is an HYIP website that claims to generate profits for investors by trading crypto. The website promises ‘risk-free’ returns as bizarrely high as 85% per day, which active investors would know is unrealistic and unsustainable. Such ‘get rich quick’ schemes are almost guaranteed to be scams.
Cryptobased also offers referral-based commissions which means that investors get additional returns if their friends make deposits on the site. This hints that Cryptobased may be a pyramid or Ponzi scheme if not an outright scam.
A domain name lookup of the website shows that it was registered on 29th March 2021. The registrant’s details such as name, location and contact details have been hidden using a paid service. Therefore, it is a relatively new website that is being operated anonymously.
The overall quality of Cryptobased’s website is unimpressive and I found that the entire website’s content has been copied. The About Us section of the home page contains the following text:
cryptobased.net – Offers high-return investing in the Forex and cryptocurrency markets as well as promising start-ups on Fintech. How does it work and where does big money come from? Everybody knows that currency exchange rates change all the time. When a currency becomes more expensive in comparison with another, people holding their money in the first currency may be winning while those who are holding their savings in the other currency may be losing because their currency has become cheaper in relation to the first one. Such changes occur every second, so if you buy a currency which is about to rise in price and sell it after the rise, you get the difference between the buy and sell prices as your profit. That is what is called currency trading or Forex trading.
cryptobased.net employs a team of highly effective financial experts who know for sure when a currency is to rise or fall. They track the market continuously and start trading at best times. They trade both traditional currencies like US dollar and Euro, and so-called cryptocurrencies like Bitcoin.
The Company has had very good results in both trading and start-up financing. However, what we are having now is a tiny part of what we could have if we had enough funds to use every earning opportunity in our sphere. For the purpose of increasing our current assets, we have decided to attract funds from private and corporate investors through our website platform and make profit from many more earning opportunities which we currently have to decline or ignore due to limited assets.
Our Mission is to ensure maximal profit to each of our investors and keep possible risks to their investments at the lowest levels. So you can start earning money with cryptobased.net.
There are at least 33 other websites using the same text, all of which may be scams. The list of sites is given at the end of the article. It is possible that the websites are operated by the same set of scammers.
There is a company certificate given on the website supposedly to prove that Cryptobased is a legitimate company. The certificate is quite obviously fake as a simple search in the UK Companies House register proves that the company number belongs to a firm that has been dissolved. In any case, a UK company registration means next to nothing as it can be purchased online for £12 without needing to submit any verification documents.
Cryptobased does not seem to have a social media presence. There are social media icons on the website but they are fake as they lead nowhere.
The contact information given on the website includes a fake USA address of a location that does not exist.
I could not find any real reviews for Cryptobased online. Their Trustpilot page has been removed due to abuse, likely in the form of fake positive comments. Similar comments can still be seen on ScamAdviser. If you want to share your review of Cryptobased, you can do so in the comments below or on my social media pages.
It seems quite clear that Cryptobased and the 33 similar websites are highly likely to be scams. There are several signs suggesting that Cryptobased is run by scammers and not genuine crypto investment managers. For one, the edited company certificate of a random company has been provided on the website to prove Cryptobased’s authenticity.
Cryptobased is promising unsustainably high profits such as 85% per day. They also have ‘referral commissions’ which is a common feature of fraudulent investment schemes. The entire website content is copied and the same can be found on at least 33 other websites, all of which are likely to be scams.
Cryptobased has no social media presence and there are only fake reviews available online. Cryptobased can only be contacted by email as the company address provided is completely fake.
It is advisable to avoid investing with Cryptobased and the 33 similar sites as there are no reasons to believe that they are genuine investment firms. As a general rule, never send crypto to strangers as it cannot be recovered.
Remember: If something seems too good to be true, it probably is.
To read about other Investment Scams, click here.
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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.
- Report the scam site to web filtering companies.
List of websites using the same content as Cryptobased
Disclaimer: The views expressed in this article are presented as an opinion based on available information. This review is intended for information only and should not be relied on when making financial or business decisions. 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.