Is Saiprofit Fake or Real?
Why Is Saiprofit Fake?
Saiprofit is a website that claims to be an investment platform. The website states that they invest in the Stock Market, Foreign Exchange Market, Forex Trading, Gold Trading Market and Cryptocurrency Market to generate profits. It offers plans that promise returns such as 800% profit in 30 days. Such returns are highly unrealistic and suggest that Saiprofit may be a Ponzi scheme.
A domain name lookup of the website shows that it was registered on 7th May 2020. The registrant’s information such as name, location and contact details have been hidden for privacy.
The website is quite poorly made. It is full of spelling & grammar errors and is not even properly optimized for mobile screens. The content is also copied from other sites. I found that there are at least 106 websites using the same content as Saiprofit. The full list is given at the end of the article.
The website claims that it had 111,152 members as of 22nd May 2020 ie. 15 days after the domain was registered. This implies that the website was adding roughly 7,410 members per day, which is most likely a lie.
The website does not mention any names of the people running the company. They also claim that you cannot incur a loss by investing on the platform, something that legitimate companies never claim.
The website states that investors can earn referral commissions for bringing new members to invest in the platform. The exact bonus percentage is unclear, as both 6% and 5% have been mentioned in the same section. This increases the suspicion that Saiprofit may be a Ponzi scheme.
The company claims to be registered in the UK and the registration number given was found to be valid. However, this does not mean that Saiprofit cannot be a scam as there are several examples of companies registered in the UK that have turned out to be scams.
*Update* After publishing the article, the owner of the said company reached out to confirm that their company has no relation to Saiprofit.
The only social media profile of Saiprofit is a Facebook page with 21 likes. The page was created more than two months after the domain was registered and is inactive. The page admin’s location has not been provided.
The contact details provided include an address, phone number and email ID. The address is the same London one used for the company registration that seems to be fake. The phone number was shown be to from Chester and not London, and therefore seems to be fake too. The email ID was found to be valid when checked using MailTester, but it is a catch-all address. This means that the actual email ID firstname.lastname@example.org does not exist.
There are no reviews available for Saiprofit on websites such as Scamadviser or TrustPilot. The closest thing I could find is a recent Facebook comment stating that Saiprofit does pay, but the daily profits have been declining. This is another strong sign of a Ponzi scheme.
It seems extremely likely that Saiprofit is a Ponzi scheme. The returns such as 800% in 30 days are incredible and only possible in HYIP schemes. Such schemes are illegal all over the world and most people end up losing their money. Even if the company is currently paying out, there is no guarantee that investors will continue receiving profits as such a model is unsustainable. Such schemes can only run as long as every member brings in multiple new investors.
The website is of poor quality and the same content is used by 106 websites. The website claims to have added 111,152 members in just 15 days. This claim is hard to believe and likely to be a lie. There is not a single team member’s name mentioned and Saiprofit claims that it is impossible to incur a loss on your investment. No real investment company would make such a claim, which suggests that Saiprofit is a scam.
Saiprofit offers commissions to members for inviting new investors into the scheme. The referral bonus is not properly mentioned, which shows that Saiprofit is not a professional company. The company has a valid registration in the UK, but this does not mean it is not a scam. It is ridiculously easy to register shell companies in the UK that are used for money laundering. It should also be noted that the company is registered in the name of a Portuguese national.
The address given seems to be fake as it is a residential address. The phone number was shown to be of Chester, even though Saiprofit claims to be located in London. The email ID also seems to be fake. There are no reviews available for Saiprofit, except for a Facebook comment saying that daily profits are declining. It is advisable to avoid investing with Saiprofit, as it seems to be an HYIP scam.
List of websites and Facebook pages using the same content as Saiprofit:
- Bitcoin Income Limited
- COIN CAPITALS LTD
- CoinARC Inc
- Crypto Trade
- Crypto Trades
- GBextra Blog
- Get Cash Future
- Infini CashFlow International
- Media HYIP
- Peleton.uno Review
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:
- 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 ScamAdvisor 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: 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.