Cryptocurrency Exchange Platform
Is Netkraken Fake or Real?
Why is Netkraken Fake?
Netkraken is a website that claims to be a cryptocurrency exchange for buying and selling cryptocurrencies. The name ‘Netkraken’ is similar to ‘Kraken’ which is one of the oldest cryptocurrency exchanges. Therefore, it appears at first glance that Netkraken is likely to be a fake crypto exchange trying to impersonate Kraken.
A domain name lookup of the website shows that it was registered on 9th October 2021. 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.
Even though it is clear that Netkraken did not exist before October 2021, the home page of the website falsely claims that the company has been active since 2017. There is no proof of this being true.
The About Us page of the website contains the following text:
NETKRAKEN CAPITAL LIMITED company begins its history from the 9th of February, 2018, when it was developed and registered by our founder – Deborah Anne AGG and his team.
Our company has come a long way from a simple exchange platform to a complex mechanism, which works smoothly.
We have changed the perception of many people about cryptocurrency and its use.
We introduced lots of interesting and useful technologies, which are helping us to protect your funds, and helping you to invest your funds with maximum benefit.
World’s first we created system, which helps you to buy, sell, transfer your funds inside our exchange in few seconds, you don’t need to wait blockchain confirmation any more. In our Exchange your funds This one, and lots of another features makes trading in NETKRAKEN CAPITAL LIMITED Exchange very comfortable, useful and profitable.
After making a deposit, your funds constantly are stored on the permanent wallet, no matter what manipulations you do with them. They are assigned to you in the internal system of our site, so you shouldn’t pay a commission on the blockchain network during transfer, trading and other transactions.
We are interested in cryptocurrencies and we believe they will change the world and become the main currency in the future.
We believe that cryptocurrencies will continue to grow and develop tirelessly, so we offer to invest in them right now, because even a very small investment changes the world.
Firstly, the text on this page also contains a blatant lie that Netkraken has been active since 2018. I also found that this text is not original as the same can be found on at least 33 other websites, all of which are likely to be scams. The list of sites is given at the end of the article.
Netkraken claims to be a legitimate company registered in the UK named ‘NETKRAKEN CAPITAL LIMITED’ and provides a company registration number as proof. However, the information provided is of a completely unrelated company. Therefore, Netkraken does not seem to be a real company at all.
Netkraken does not seem to have any social media presence. The website does not contain any real company information or details about the management team. Therefore, it is being run completely anonymously. Only one contact method has been provided which is email. The user dashboard has a fake chat support feature.
I was alerted about Netkraken by a reader who suspected that it was a scam. The scammers’ modus operandi is to approach people randomly and pretend to be interested in making a purchase. The fake buyer claims that they have deposited money in the seller’s Netkraken wallet. However, Netkraken demands fees to release the payment. This seems to be a classic case of an Advance Fee Scam.
While searching for reviews, I also came across this blog post titled ‘NETKRAKEN IS A SCAM- PLEASE DO NOT PUT YOUR MONEY IN IT‘, written by someone who got scammed by Netkraken.
It is extremely obvious that Netkraken and the 33 similar websites have a tremendously high possibility of being scams. Netkraken is a fake cryptocurrency exchange created in October 2021 that lies about being active since 2017. The website is operated with complete anonymity and the only contact method is email. Netkraken seems to be trying to impersonate a well-known crypto exchange named Kraken.
The entire website text has been copied and the same can be found on at least 43 other websites, all of which may be scams. Netkraken is lying about being a UK-registered company as the registration information provided is of an unrelated organization.
I was alerted by a reader that website owners are being approached by scammers with false offers for buying their website. The fake buyer pretends to deposit the payment in the seller’s Netkraken account. However, the seller needs to pay a fee to access the payment. This is an Advance Fee Scam, where endless fees will be demanded to release money that simply doesn’t exist. A victim of Netkraken has also written a blog post detailing how they got scammed by them.
It is advisable to avoid dealing with Netkraken or any of the 34 similar websites, as all of them are likely to be scams.
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 Netkraken
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.