Eastshares.net has come under scrutiny for operating a cryptocurrency scam. A legitimate website typically includes a business address, but none could be found on any of the site’s pages. The language on various pages appears to be copied from other fraudulent websites. Ownership and operation of the site trace back to a foreign entity or individuals. The profit guarantee plans advertised are fictitious. The site lacks any customer support contact numbers. Numerous pages contain only placeholder text, indicating incomplete development. The domain name was registered a mere 25 days ago, suggesting a very recent setup. The company name listed on the website is not authentic. No associated social media accounts for this project were discovered. Additionally, there are no credible reviews available to validate the project’s claims. What is a crypto investment scam?
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|❌ No Address Found
❌ Foreign Company
❌ No Phone Numbers
❌ Recently Registered
❌ No Social Media
|❌ Copycat Content
❌ Fake Profit Guarantee
❌ Unfinished Website
❌ Fake Business Name
❌ No Reviews
Date of registration: January 04, 2024
Expiration: January 04, 2025
First detected: January 29, 2024
Registrar: Wild West Domains, LLC
Hosted by: Dns-parking.com
What is a crypto investment scam?
Cryptocurrency investment scams capitalize on the mystique surrounding cutting-edge technology to lure in victims. These schemes often employ intricate terminology and convoluted explanations to obscure their true intentions and to present themselves as credible opportunities. Scammers might boast about having exclusive, high-performance algorithms or advanced crypto-mining operations that can yield exceptional returns, when in fact such technologies may not exist or are grossly exaggerated. To widen their net, scammers frequently turn to social media and influencers, using fabricated endorsements and phony success stories to build trust. They might also set up sham investment groups or clubs, promising exclusive tips and significant profits in return for joining fees or direct investments.
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These fraudsters create a false sense of scarcity and time sensitivity with “once-in-a-lifetime offers” to push potential investors into hasty decisions. Victims often discover too late that their accounts are locked or that the customer support is unhelpful or non-existent. In the worst scenarios, the entire operation vanishes overnight, taking the investors’ funds with it. Due to the irreversible nature of cryptocurrency transactions, once the money is gone, it is typically gone for good, leaving victims with little recourse to recover their lost investments.
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