Is Uxmon Fake or Real?
Why Is Uxmon Fake?
Uxmon is a website that claims to be a platform for investing online. The website is quite poorly made as there are plenty of spelling & grammar errors and the website is not optimized for small screens.
They claim to generate profits up to 2,500% in 25 days by investing in ‘cryptocurrency trading, mining and arbitration, Forex trading, stocks, bonds, ETFs and mutual funds’. Such returns are highly unrealistic and suggest that Uxmon may be a Ponzi scheme.
A domain name lookup of the website shows that it was registered on 7th October 2015. The registrant’s information such as name, location and contact details have been hidden for privacy. Though the domain was registered in 2015, traffic data and Wayback Machine snapshots show it that was a parked domain that has only become active recently. The domain registration was recently updated on 27th august 2020 and this is when the website must have actually gone live.
Uxmon are trying hard to mislead visitors of their website that the platform has been active since 2015. They have even falsified a UK registration certificate to show that the company was registered in 2015. Though Uxmon is indeed registered in the UK, it was only registered on 31st August 2020. They have provided an incomplete address and the company Director is named as Mark Harri whose occupation is Carpenter. The correspondence address provided is also different from the registered office address. In any case, UK company registrations are notoriously easy to obtain and shell companies are commonly created by scammers for money laundering.
There are a few other places on the website where they have tried to state that the website has been active for longer than it is. Evidence suggests that the website is actually less than a month old.
Uxmon has a 5%-3%-2% referral commission scheme. This means that investors get 5% commission on investments made by their direct referrals, 3% commissions for investments of referrals of referrals and 2% commission on investments of the third level of referrals. Such a structure is a clear sign of a Ponzi scheme and explains the high returns being offered. Such schemes are illegal and can collapse at any time.
Uxmon does not seem to have a social media presence. The contact details provided are an address, a phone number and an email ID. The address provided is incomplete as there is no office number mentioned, the phone number seems to be inactive and the email ID did not work when checked using VerifyEmailAddress.org. Therefore, the contact details all seem to be fake.
There are some user reviews available on sites such as Scamadviser and TrustPilot. The earliest review was written on 9th September 2020, which shows that Uxmon is a new platform. The reviews are mostly positive, but their credibility is low. The reviews for such platforms are written by investors to portray a positive image of the company in order to gain referrals, or could be written by Uxmon themselves.
It seems quite obvious that Uxmon is a Ponzi scheme. Returns such as 2,500% in 25 days are absolutely ridiculous and only possible in pyramid schemes. Though the domain was registered in 2015, evidence suggests that the website is actually less than a month old.
The company has put up a fake registration certificate showing that it was registered in 2015. Uxmon was only registered on 31st August 2020 and the earliest review was written in September 2020. This clearly shows that Uxmon has not been active since 2015.
The platform has a 5%-3%-2% referral bonus structure. This strengthens the suspicion that it is a Ponzi scheme, as the only source of income for the company seems to be the investors themselves. The contact information provided are also all fake. The address is incomplete and the phone number and email ID both do not work. It is advisable to avoid investing with Uxmon, as it seems to be an HYIP scam. Such schemes are illegal and most of the investors end up losing their money.
After stopping payouts a couple of weeks back, Uxmon is now asking investors to pay an additional $250 to be able to withdraw their earnings. The attached screenshots show the email that has been sent to investors.
Not only are they asking for more money, but they are also still lying about being a 5-year-old company. Further, they are promising to reward positive reviews on TrustPilot and have confessed to deleting the account of anyone who leaves a negative review. Such practices are against TrustPilot’s policies and also show that Uxmon is not a genuine investment company.
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 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.