Has cosetek closed down

Users of a cryptocurrency app fear they have lost thousands of pounds after they were unable to make withdrawals from the site, the BBC has been told. Coscoin, also known as Cos or Cosetek, has cosetek closed down, describes itself as "a leading AI quantitative trading platform" where people can double their investments. Coscoin has not responded to the BBC when asked for a comment. App users say they has cosetek closed down been unable to access funds since 23 November.

Distraught investors in a supposed cryptocurrency trading site have found that the platform has shut down and it is impossible to withdraw money. The idea was that bots would automatically buy and sell cryptocurrencies on your behalf - all you had to do was click an app button a few times a day. Which sounds ominously like a pyramid scheme. Coscoin also claimed to be a cryptocurrency, though I cannot find any evidence of it trading on any of the main currency trading platforms. On November 23, Coscoin offered to match the deposits of anyone who further invested as an apparent Thanksgiving Day promotion which now some investors say looks like a final push to get more money before the shutters came down. Lisa Auckland, a nurse from Middlesbrough, says she was recruited by a member who regularly sent screenshots apparently showing how much money he was making.

Has cosetek closed down

The private registration was last updated on July 22nd, Meiqia is a Chinese software company based out of Beijing. This suggests whoever is running COS has ties to China. The presented ruse is COS affiliates log in and click a button the more invested the more the button needs to be clicked :. Clicking the button purportedly generates revenue via quantitative trading, which for some reason COS shares a percentage with its affiliate investors. In reality clicking a button inside COS does nothing. All COS is doing is recycling newly invested funds to pay earlier investors. Most of them last a few weeks to a few months before collapsing. This tends to happen without notice, leaving the majority of investors with a loss inevitable Ponzi math. Update 23rd November — COS has collapsed. Loads of people who i work with have setup accounts…tried telling them its a ponzi scheme,no joy …but at least a couple of people have changed their minds now about putting money in after i showed them this. Hi, me and a lot of my friends have fallen victim to this one. I was told about this by 2 totally separate friends, on the same day. One said he has made 3k since 10th July and the other one reckons to have made 24, since January.

This article here has a screenshot of the app and should provide those with half a brain cell all the information they need to realise this is a massive scam:. Privacy policy is still titled coscoin privacy policy. Related Topics.

The COS Ponzi scheme has collapsed. COSCOIN has been attacked by hackers from unknown sources, and the withdrawal amounts of all users have been maliciously tampered with. This is the same bonus currently being run by ITP Corp , suggesting both Ponzi schemes are likely being run by the same group of Chinese scammers. Investors logged in, clicked a button and were led to believe this corresponded to fictional trading activity. I feel your pain Mark.

The COS Ponzi scheme has collapsed. COSCOIN has been attacked by hackers from unknown sources, and the withdrawal amounts of all users have been maliciously tampered with. This is the same bonus currently being run by ITP Corp , suggesting both Ponzi schemes are likely being run by the same group of Chinese scammers. Investors logged in, clicked a button and were led to believe this corresponded to fictional trading activity. I feel your pain Mark. Feel so stupid for believing in it all, I never thought I was the sort of person who would be caught out by something like this. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment.

Has cosetek closed down

Police have warned people not to invest in a cryptocurrency investment platform following reports of fraud. Coscoin, also known as Cos or Cosetek, describes itself as "a leading AI quantitative trading platform" where people can double their investments. However, reports to police from across the UK have seen people unable to access or withdraw their money since the end of November. How do cryptocurrencies work?

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Dec 13th, at am Conor Q. Clicking the button purportedly generates revenue via quantitative trading, which for some reason COS shares a percentage with its affiliate investors. Only started on the 4th November after I was sold it as a dream way of making money. Nov 11th, at am Oz Q. Distraught investors in a supposed cryptocurrency trading site have found that the platform has shut down and it is impossible to withdraw money. The last withdrawal in a Ponzi scheme is right before it inevitably collapses. Paul : Like I said all I asked was where he getting his info from and how he knew that was a fact. Dec 4th, at pm Oz Q. Also 2 lads have had their kraken accounts closed and been told they can never have another. Trying to otherwise predict when a Ponzi scheme will collapse is pointless.

Users of a cryptocurrency app fear they have lost thousands of pounds after they were unable to make withdrawals from the site, the BBC has been told. Coscoin, also known as Cos or Cosetek, describes itself as "a leading AI quantitative trading platform" where people can double their investments.

Notify me of new posts by email. PS Victims who are offered the chance to join new schemes to supposedly recover their losses should be extremely wary of throwing good money after bad. Just check what is currently happening in GSp. Aug 25th, at am Lee Huntingdon Q. The wayback machine confirms in that it was a Chinese IT equipment website, and like you said no other info until July Just an update COS is pretending they have been hacked, which is false information they just refusing to let anyone withdraw They have created a new app called QTOX which is exactly the same just different name and its blue instead of green. In order to place money into the Coscoin app they had to send funds to it via a third-party app called Kraken, which is a cryptocurrency exchange. Nov 24th, at am Cameron Bucket Q. Leave this field empty. Pathetic, and typical lazy journalism. Nov 11th, at am Oz Q. In Your Area. Nov 10th, at am Oz Q.