Has cosetek closed down

Users of a cryptocurrency app fear they have lost thousands of pounds after they were unable to make withdrawals from the site, ýou BBC has been told. Coscoin, also known as Cos or Cosetek, describes itself as "a leading AI quantitative trading platform" where people can double their investments. Coscoin has not responded to the BBC when asked for has cosetek closed down comment.

The COS Ponzi scheme has collapsed. COSCOIN has been attacked by hackers from unknown sources, and the withdrawal amounts of all users have been maliciously tampered with. This is the same bonus currently being run by ITP Corp , suggesting both Ponzi schemes are likely being run by the same group of Chinese scammers. Investors logged in, clicked a button and were led to believe this corresponded to fictional trading activity. I feel your pain Mark.

Has cosetek closed down

The private registration was last updated on July 22nd, Meiqia is a Chinese software company based out of Beijing. This suggests whoever is running COS has ties to China. The presented ruse is COS affiliates log in and click a button the more invested the more the button needs to be clicked :. Clicking the button purportedly generates revenue via quantitative trading, which for some reason COS shares a percentage with its affiliate investors. In reality clicking a button inside COS does nothing. All COS is doing is recycling newly invested funds to pay earlier investors. Most of them last a few weeks to a few months before collapsing. This tends to happen without notice, leaving the majority of investors with a loss inevitable Ponzi math. Update 23rd November — COS has collapsed. Loads of people who i work with have setup accounts…tried telling them its a ponzi scheme,no joy …but at least a couple of people have changed their minds now about putting money in after i showed them this. Hi, me and a lot of my friends have fallen victim to this one. I was told about this by 2 totally separate friends, on the same day. One said he has made 3k since 10th July and the other one reckons to have made 24, since January. Both these people I consider friends and are trustworthy and I have seen the second friends phone app which proved what he said, I have no reason to mistrust these people.

Users across the UK have reported that they have lost their investments. This is a legal requirement.

Distraught investors in a supposed cryptocurrency trading site have found that the platform has shut down and it is impossible to withdraw money. The idea was that bots would automatically buy and sell cryptocurrencies on your behalf - all you had to do was click an app button a few times a day. Which sounds ominously like a pyramid scheme. Coscoin also claimed to be a cryptocurrency, though I cannot find any evidence of it trading on any of the main currency trading platforms. On November 23, Coscoin offered to match the deposits of anyone who further invested as an apparent Thanksgiving Day promotion which now some investors say looks like a final push to get more money before the shutters came down. Lisa Auckland, a nurse from Middlesbrough, says she was recruited by a member who regularly sent screenshots apparently showing how much money he was making.

Police have warned people not to invest in a cryptocurrency investment platform following reports of fraud. Coscoin, also known as Cos or Cosetek, describes itself as "a leading AI quantitative trading platform" where people can double their investments. However, reports to police from across the UK have seen people unable to access or withdraw their money since the end of November. How do cryptocurrencies work? Bitcoin to blockchain: What key crypto words mean.

Has cosetek closed down

Users of a cryptocurrency app fear they have lost thousands of pounds after they were unable to make withdrawals from the site, the BBC has been told. Coscoin, also known as Cos or Cosetek, describes itself as "a leading AI quantitative trading platform" where people can double their investments. Coscoin has not responded to the BBC when asked for a comment. App users say they have been unable to access funds since 23 November. In order to place money into the Coscoin app they had to send funds to it via a third-party app called Kraken, which is a cryptocurrency exchange. Kraken is not accused of any wrongdoing. When the money was then deposited to Coscoin, users were notified as to when they "should hit a button", which Coscoin said was "quantifying their investment", and could increase it. Users across the UK have reported that they have lost their investments.

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In reality clicking a button inside COS does nothing. Trying to otherwise predict when a Ponzi scheme will collapse is pointless. On November 23, Coscoin offered to match the deposits of anyone who further invested as an apparent Thanksgiving Day promotion which now some investors say looks like a final push to get more money before the shutters came down. Dec 13th, at am Conor Q. Thank you so much for taking the time to keep this website and thread going to expose the scam. He has also been unable to contact the people who run the site. COSCOIN has been attacked by hackers from unknown sources, and the withdrawal amounts of all users have been maliciously tampered with. The private registration was last updated on July 22nd, Coscoin, also known as Cos or Cosetek, describes itself as "a leading AI quantitative trading platform" where people can double their investments. Nov 22nd, at am Lee Huntingdon Q.

The COS Ponzi scheme has collapsed. COSCOIN has been attacked by hackers from unknown sources, and the withdrawal amounts of all users have been maliciously tampered with.

I like checking this thread to read the comments of the early defensive investors! Related Topics. Dec 6th, at pm Khan Q. People who will do anything to make money from others losing it are disgusting. Unfortunately your friends are both liars and scammers. My husband was offered to join COS around 2 months ago. It is thought the app's popularity has spread through WhatsApp groups and word of mouth. How long do you think this one has till it is deactivated? Nov 25th, at am Jaouad Q. I pray I work something out before this house owners brings their embarrassments.