Krakentrades.xyz is running a crypto scam, with verbiage on various pages duplicated from other similar scam websites. All profit guarantee plans offered on the website are fraudulent. Evidence suggests that it is operated from a foreign country. A genuine website is expected to provide a business address; however, a search yielded no results on any of the pages. Investigation revealed no social media accounts for this project. Many pages contain default content and placeholder text. The website operates under a made-up company name. The domain name was registered recently, just 46 days ago. The project lacks any verifiable reviews. Furthermore, the website does not provide any phone numbers for customer support. What is a crypto investment scam?

❌ Copycat Content
❌ Foreign Company
❌ No Social Media
❌ Fake Business Name
❌ No Reviews
❌ Fake Profit Guarantee
❌ No Address Found
❌ Unfinished Website
❌ Recently Registered
❌ No Phone Numbers

Date of registration: December 14, 2023
Expiration: December 14, 2024
First detected: January 29, 2024
Registrar: NameSilo, LLC www.namesilo.com/
Hosted by: Dns-parking.com
Ownership: Unknown

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 frequently 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 strategy; rather, they are part of a calculated ruse to draw investors deeper into the scam, ultimately leading them to invest more substantial sums of money.

Report Scams to Government Agencies:
Federal Trade Commission (FTC) – Submit a Report
Federal Bureau of Investigations (FBI) – Submit a Report
U.S. Postal Inspection Service (USPIS) –Submit a Report

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