Latoken, founded in 2017 amidst the crypto boom, provides various crypto-related services, including coin acquisition, exchange, and staking with substantial profit potential. However, a critical aspect missing from their offerings is a valid crypto license. Our Latoken review delves into the platform’s history of shifting ownership and the legal complications it has faced over time.
Ownership Shuffles and Regulatory Woes
Latoken has undergone multiple ownership changes. Initially, LAT Foundation Limited, based in the Cayman Islands, managed latoken.com. Later, the reins either shifted to a different Cayman entity or the domain transitioned to Nextchange Limited.
Subsequently, LiquiTrade Limited took ownership, drawing regulatory attention from BaFin due to unlicensed financial service provision. Presently, LAtrade Limited, registered under SVG with reg number 26911, is listed as the owner, according to the SVGFSA register.
It’s crystal clear that the website and its unregulated owning entities have never held a legitimate license, rendering Latoken susceptible to scams and casting doubt on its trustworthiness, much like their dubious partners at Evergreen Oak Capital.
Trustpilot Erases Fake Reviews
Upon visiting Latoken’s Trustpilot page, a warning alert promptly emerges, notifying visitors of the removal of numerous fake reviews.
This revelation raises eyebrows, particularly for a reputed crypto exchange. The involvement of review seller networks, akin to the practices of Oro Markets, casts doubt on the authenticity and reliability of the remaining reviews.
The Scam Mechanism Unveiled
Latoken’s website touts effortless crypto transactions with minimal fees, positioning itself as an enticing option. It further entices users with opportunities to partake in extravagant competitions boasting unrealistic rewards.
However, contrary to these enticing promises, negative reviews reveal that the platform frequently fails to fulfill profit payments or distribute rewards as advertised. Withdrawals, similarly, present a grim scenario; initial assurances of swift, fee-free payouts transform into frustrating ordeals, often ending in denied requests.
A Global Presence without Regulation
Alarming is the fact that Latoken serves a global clientele without holding licenses from any jurisdiction. Predominantly, fraud victims have emerged from countries including India, Indonesia, Brazil, Turkey, and the United States.
If you find yourself grappling with withdrawal issues or have encountered Latoken or similar scammers like MeeFX, it is advisable to seek legal assistance from our support team.
Conclusion
In conclusion, Latoken, despite its claims and initial allure, raises serious concerns and red flags. The removal of fake reviews on its Trustpilot page is a troubling indication of dishonest practices. The platform’s promises of seamless crypto transactions and extravagant competition rewards often fall short, as negative reviews attest.
Withdrawals, portrayed as quick and fee-free, frequently lead to frustrating and protracted waits, culminating in denied requests. Moreover, Latoken’s global reach without regulatory licenses in various jurisdictions raises significant legal and security issues.
Given these alarming factors and the platform’s history of ownership changes and regulatory warnings, it is prudent to exercise extreme caution when considering any involvement with Latoken. The risks associated with this exchange outweigh the potential benefits, making it a potentially unsafe choice for crypto trading or investment.
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