Coinshark is a scam because it is a Ponzi Scheme which means it is operating an unsustainable and illegal business. As per the Coinshark review, the safety Index for Coinshark.cc is: 14/100 “illegal Ponzi Scheme”.
These are the reasons that makes Coinshark a scam:
- Coinshark is claiming unbelievable higher rate of return such as 300% profit after 7 days.
- Although this kind of business pay at starting, ultimately they will stop paying due to their unsustainable business nature.
- To trick people, they use easy way to register a company. For example: they rent virtual address and third party documents to register company in the UK Company House.
- Legal Authorities have issued warning to stay out of this kind of business. (Ponzi Schemes)
- It has offered referral commission up to 3 levels downline. However, it doesn't sell any real products or services, only pays Commission On ROI Investments of Multi Level Referrals. So, this makes it another illegal scheme known as Pyramid Scheme.
How To Get Refund and Stay Safe After Using Platforms Like Coinshark?
Getting a refund from Ponzi Schemes like Coinshark.cc is really difficult. Still, you can try these methods:
- Documentation:
- Keep record of everything you do on those platforms such as screenshots of payment account and transactions, emails, messages and so on,
- Report:
- Report the scams that you come across to your country's legal authorities.
- Likewise, report such scams to the reporting agencies, such as the Internet Crime Complaint Center (IC3), and FTC.
- Legal Advice And Action:
- You can take a legal advice from a lawyer and proceed for the legal action. However, keep in mind that legal proceedings can be costly. You should go for this option only if you've lost a significant amount of money on such platforms. Getting money back from such platforms is not a easy job but doing something is better than doing nothing.
- Passwords Change:
- Change the passwords of the payment methods you have used on such platforms.
- Scan The Device:
- After using such platforms, scan your device using the renowned antivirus and antimalware programs.
How to spot online scams like Coinshark?
To spot online scams like Coinshark, remember these tips:
Check Contact Info:
Real platforms have real contact info, like a real address and a working phone number. However, scam platform, either don't have contact info or give fake ones.
Beware of Unbelievable Rate of Returns:
Be careful with platforms claiming to offer high rate of return within short period of time or other similar kinds of unreal claims. Since, genuine platforms can never offer such unbelievable rate of returns.
Look for Copied Content:
Scam platforms like this often steal content from other scam platforms. So, if you see the same stuff on different platform, it's safer to avoid them.
Check Platform Security:
Make sure the platforms has SSL security. Also, check trust seal logos like McAfee or Norton. Real trust seals can be clicked and take you to official verification pages. However, fake ones don't work or take you to random pages.
Customer Complaints:
See if there are any complaints from customers about the platform. A few complaints mixed with mostly good reviews suggest a decent reputation. However, if there are lots of complaints and negative reviews, be cautious.
Check Social Media Links:
Scam platform might not provide any social media icons, or provide the fake ones that don't lead to the company's real social media pages or profiles. So, check for the social media icons.
Fake Promises:
Platform that promise big money for easy work, super-fast profits, or instant weight loss are often scams.
Also, if you get offers like unbelievable deals, sales that sound too good to be true, surprise gift cards, prizes, or lottery wins out of nowhere, they're usually just tricks to fool you.
Look at WHOIS Info:
Find out when the platform was registered using WHOIS. Be careful with brand-new platform.
Watch for Other Website Names:
Be cautious of scam sites that copy content; they might have other website names on their policy pages, checkout page, or at the bottom of their pages.
Also, some scam websites use different names for their website than their domain name.
Final Verdict on Coinshark Review:
As we stated earlier in this Coinshark review, it's clear that Coinshark.cc is a scam platform. So, we don't recommend it.
Now that you know our final verdict for Coinshark.cc, here's what we suggest you do:
Check Comments:
To learn more about Coinshark.cc, check the comments below. If there are no comments, use the points mentioned above to check it yourself or follow our Coinshark review as mentioned earlier.
Spread Word:
Help others by spreading the word about this scam. Share this Coinshark review with your friends and family on your social media accounts.
Report Scams:
If you want to report other scams, file complaints, or share reviews about different companies, please visit our “Report A Scam, File Complaint, Or Post Your Review” section. There, you can share your reviews or complaints regarding those specific companies or activities.
FAQs and Answers based on this Coinshark review:
Why is business model of Coinshark.cc illegal?
The business model of Coinshark is illegal because it operates as a Ponzi Scheme, promising unsustainable and unbelievable returns. Legal Authorities have already listed such business model as illegal one and warned people not to get involve in such platforms.
How can I get money back from platforms like Coinshark?
Getting money back from Ponzi Schemes like Coinshark is very hard, but you can try by documenting your transactions, reporting the scam to legal authorities and seeking legal advice.
Why is it important to check WHOIS info when dealing with online platforms?
Checking WHOIS info helps determine when a platform was registered. Brand-new platforms may pose higher risks, as scammers often create new entities to scam users.
Note: This Coinshark review is based on the mentioned date but it may change its details in the future.
