Boaitrades.com is reported for being a crypto scam. The company name stated on the website is false, and there are no phone numbers for customer support. The website was rushed to go live, evidenced by many placeholders still present. The domain name is new, having been registered only 28 days ago at the time of this report. The wording on different pages has been copied from numerous similar fraudulent websites, and there is no social media presence. The profit guarantee plans offered on the website are all sham. Legitimate websites typically display the business address, but no such information is found on any of the pages. Indications suggest the website is managed from an overseas location, and there is a lack of legitimate reviews about this project that could be verified or found. What is a crypto investment scam?
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|❌ Fake Business Name
❌ Unfinished Website
❌ Copycat Content
❌ Fake Profit Guarantee
❌ Foreign Company
|❌ No Phone Numbers
❌ Recently Registered
❌ No Social Media
❌ No Address Found
❌ No Reviews
Date of registration: January 07, 2024
Expiration: January 07, 2025
First detected: February 04, 2024
Registrar: HOSTINGER operations, UAB
Hosted by: Dns-parking.com
What is a crypto investment scam?
Cryptocurrency investment scams lure individuals with the promise of exorbitant and often implausible returns, frequently assuring consistent daily or weekly profits. These deceptive operations are commonly based overseas, which presents a significant obstacle for law enforcement agencies in tracking and prosecuting the perpetrators. The international nature of these scams exacerbates the difficulty of retrieving any funds that victims may lose. In an effort to build credibility, some scam operations may initially disburse a small return to their investors.
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This strategy is designed to manufacture an illusion of authenticity and to persuade investors to increase their stakes. However, these early payouts are not the result of any genuine investment strategies; they are merely part of the scam to coax more substantial investments from unsuspecting individuals. It’s a classic case of a Ponzi scheme, where the returns of the new investors are used to pay the earlier ones, creating a cycle that eventually collapses when there are not enough new investors.
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