Cryptocurrency Investment Platform
Is CryptoXpand Fake or Real?
Why Is CryptoXpand Fake?
CryptoXpand is a website that claims to be an investment platform. Like most investment scam websites, they have a hard time deciding whether the company specializes in trading cryptocurrencies or forex.
They promise returns as high as 500% with no specific time frame. This kind of profit is unbelievable and the most obvious sign that CryptoXpand is a scam.
A domain name lookup of the website shows that it was registered on 13th October 2020. The registrant’s details such as name, location and contact details have been hidden using a paid service. Therefore, it is a new website that is being operated anonymously.
The website is of extremely poor quality and the text has been lifted from various different sources. The content used by CryptoXpand can be found on at least 45 other websites, all of which may be scams. The list is given at the end of the article.
Most of the site’s content makes no sense at all. This shows that it has not been created by professionals.
When I tried signing up on the website, the signup page had a checkbox that needed to be ticked saying that I agree to CryptoXpand’s T&C. However, the link leads nowhere, which means that the website does not even have a T&C document. This, once again, shows that it is not a real company.
The user dashboard has a section called ‘Affiliate Program’ which explains CryptoXpand’s ‘Affiliate Ranking System’. This system rewards members for bringing in more investors, with increased bonuses as the number of referrals increase. This is a huge clue that CryptoXpand is actually a Ponzi scheme.
The website displays some testimonials by their supposed clients. These are quite clearly fake as there is no evidence that these aren’t written by the scammers themselves.
The contact details provided on the website include an email ID and a phone number. There is a section for the ‘Address’ but it is blank. The email ID was found to be fake as it does not work.
The phone number is a virtual number that can be operated from anywhere in the world. Therefore, it seems very likely that CryptoXpand is not an American company like they try to imply.
CryptoXpand does not seem to have a social media presence. No reviews for the platform could be found online, which is a bit surprising as the site is over 4 months old.
It seems quite obvious that CryptoXpand is a scam. The returns being promised are as high as 500%, which is highly unrealistic. Combined with the site’s ‘Affiliate Program’ that rewards members for bringing in more investors, there is reason to believe that CryptoXpand is a Ponzi scheme.
The site is poorly-made and contains copied content that can also be found on at least 45 other websites, all of which may be scams. The testimonials look hilariously fake as they are badly-written only the supposed clients’ first names are given. The website does not even have a real Terms & Conditions document.
The email ID provided on the website is fake and the only way to contact CryptoXpand is on their phone number. This number uses a VoIP line, which means that it is a virtual number that can be operated from anywhere in the world.
It is advisable to avoid investing with CryptoXpand, as all the signs indicate that it is a scam.
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 CryptoXpand
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.