COTPS review – Is COTPS.com HYIP scam?

As of May 2023, the broker (cotps.com / cotps.net) has ceased operations. But you can read the article to avoid falling for similar scammers.

Important Facts About COTPS.com scam

COTPS is a common HYIP fraud. HYIP is a high-yield investment plan where investors are promised high passive return.

COTPS, a.k.a. COTP, a.k.a. Cryptos OTC Trading Platform began advertising in 2019 as a global platform for over-the-counter trading. They claimed that they had gained over 100,000 customers in a year.

The website has been unavailable for a while, leading many to search for alternative money-back options. This COTPS review was created to help victims get justice.

Is COTPS an HYIP Scam or legitimate?

Apart from the obvious fact, the platform disappeared right after being exposed on social media, there are some other concerning facts.

COTPS broker claimed that they were based in the USA and are regulated by FinCEN, MSB.

FinCEN is the Financial Crimes Enforcement Network. This authority is responsible to prevent and solve financial crimes. This authority is not a regulator, and therefore cannot issue financial licenses. MSB, or Money Services Business, is a FinCEN registry that holds information about registered businesses. It’s not a provider of financial regulation, but a register.

COTPS regulation is required to provide financial services in the USA. This should be done by authorities like FDIC, FRB, and SEC.

The broker COTPS stated that all customers are covered by FDIC insurance, up to $250,000 per client. Another lie was also revealed.

COTPS is an HYIP fraud. The company claimed to have high passive income and FDIC insurance that could cover up to $250,000 per client. It claimed that it was US-based and adhered to regulations set forth by MSB, FinCen. This was a ruse and the company vanished after they had gotten enough money.

Where is COTPS Trading scam Active?

According to the company, the brokerage was in operation from March 2019 through February 2022. The domain registration is valid until 2028. This means that COTPS could be back in the new name, but still running the same Ponzi scheme.

The COTPS scam trading in:

• US
• Canada
• Australia
• Germany
• Switzerland
• France

COTPS Support – Boarding Pass to Scam

The support team is what makes Ponzi schemes work. Even if you have seen an advertisement, it is human contact that convinces you to sign up.

COTPS did an amazing job posting photos of the people in charge as well as making all sorts of TikTok videos and YouTube videos. It turned out that the images were not taken by actual people and that the videos were made using paid actors. You don’t know who is behind the scam.

The support team kept in touch with customers and helped them sell the story. Until February of this year, the investment firm had shut down all domains.

COTPS Reviews: Thousands of Scam Victims

COTPS reviews reflect clients’ opinions about the scam. YouTube videos have been created by customers showing what happened to their accounts. Other customers posted reviews on Reddit and Trustpilot as well as other notable websites.

How does the COTPS.com scam work?

Clients were encouraged to invest their money via a cryptocurrency wallet and the currency USDT. This coin is linked to USD and maintains its stability in comparison with this currency.

COTPS maintains a website cotps.otp.com promoting their services. They guarantee a 100% return within 30 calendar days by using their automated trading system. The site also allows you to place trades every 2 hours.

After making an initial deposit, crypto trades were permitted. The broker’s employees promised high returns and bonuses for bringing your family and friends. A referral link was provided to allow you to upgrade from a level 3 or 5% to a 1 or 15% position. The company also guaranteed returns of up to 3.6% per day or 0.3% every two hours.

The company created a new scheme after the original one failed. Under the domain cotp.finance, there is a COTP Safe Miner. Clients will be prompted to connect their wallets, enable USDT trading, transfer money, and earn passive income. These same returns are promised with the possibility of earning up to 12% through a referral link.

This is an MLM scam to avoid.

COTPS Platform Review

COTPS trading platform was a WebTrader known as COTP exchange. Customers were asked to place trades every two hours by the automated trading system. These algorithms claimed to find the best trading opportunities at any time.

High returns can be explained by high frequency transactions. The broker claims that it has the ability to control the market and determine the best opportunities for traders.

You’ve seen that the original scam was unsuccessful, and the COTP Safe Miner is a pale imitation.

What can I trade with COTPS?

Crypto was the only asset that COTPS trading scam supported. According to the firm’s predictions, the firm requested clients to join the digital currency world and exchange currencies. This was possible even though people didn’t know much about the crypto market, and before similar scams were introduced to the market.

FTC reports that crypto-scammers took more than $1 billion in 2021. People are very aware of the tricks. COTPS was unable to recover and has been trying to rebuild itself using new fraud methods.

Can I Try COTPS Demo For Free?

A Demo account has not been offered by the company. COTPS required a minimum deposit of 9 USDT to get the lowest package. To test the system, this amount had to be used to access the market.

COTPS Affiliate Program Scam: Echoes Of MLM

It’s obvious that the COTPS scam, based on what you have read, is typical MLM. The broker does not care about its investors or maintaining their success, but rather in bringing in more people to the scheme. Everything collapsed when it became apparent that the broker was not making any profit and that customers’ earnings were derived from deposits made by their family and friends. The firm was exposed for fraud.

What can COTPS Fraud Victims do? Do not give up

Let us know if you are a victim of COTPS, or any other bogus MLM scheme. Our chargeback specialists are more than happy and able to help you get a full refund.

COTPS: Video

Below you will find a short video about COTPS. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about COTPS!