Beware of TheCoinTrust
TheCoinTrust is an unlicensed investment platform offering CFD investments. There are many indications that their operations are dishonest and designed to defraud. It is operated by SPT Media LLC, a company that has been warned against by the Spanish regulator CMNV.
The actions of “advisors” contacting on behalf of the platform are aimed at obtaining the largest possible payments under the pretext of bonuses, tax payments or commissions.
Below is the account of one of the injured parties:
For two weeks, I watched myself make money trading EUR/USD currency pairs. Then, Mr. Aleksander Laper (editor’s note: fake name), an employee at thecointrust, suggested the company offer me a €25,000 bonus for the same capital contribution. I did so, deposited €25,000, and received a €25,000 bonus. The app then showed me that I was making money using pre-set cryptocurrency robots.
Unfortunately, when I wanted to withdraw the profits, things started to go wrong. First, I had to pay EUR 3,800 in tax, then EUR 4,000 in insurance, then the profit miraculously increased and suddenly I had to pay Belka tax again, then the profit increased again and insurance again, and every day after depositing X amount, it turned out that there was something blocking my refund.