CoinLux claims to be a Switzerland based investment company which is set to have a diverse portfolio including cryptocurrency trading and mining. They state that they are operational from 2013 but the facts dictate otherwise.
The advertise returns of this program is more than 300% after 4 days which we all know is highly unlikely to achieve on a regular basis. Like most fraudulent investment firms this platform also does not feature any details about the owners.
To avoid losing money to them and to identify the factors because of which we are advising you to stay away from them, continue reading our complete review.
Company and Contact Details
Laws laid down on firms which offer financial services are very strict in general. CoinLux is an ICO which raises capital required for maintaining a wide range of co-related assets and portfolio from the investors.
After the time period of the contract ends the investors are entitled to some amount of profits along with their starting capital amount. When we were looking at the legal aspect of this company, we could not find any paperwork which hands them the right to trade or invest on someone’s behalf.
Also this platform has not featured any details regarding their legal documentation which must be in their possession which clearly proves that they are a bunch of scammers operating from the shadows. There are few contact details put up by them which are nearly an attempt to mimic the transparency concept. Here are the contact details:-
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Address – Bahnfosstrasse 26, 80001 Zurich, Switzerland.
Phone – + 41313279101
How does CoinLux work ?
CoinLux states that it is involved with trading all the popular financial instrument like Forex, Stocks and even Cryptocurrencies but in reality they are just trying to get every type of investor’s attention by featuring variety of assets at once.
There is no valuable information regarding them trading approach is put up. The investors are kept in dark with regards to allocation of the funds and are not briefed about what set of rules they follow before executing a position.
As far as mining goes there isn’t detailed information about what scripts they use and their margin of profit derived from mining opportunities. Cryptocurrencies are very volatile in general and if proper attention is not given to money management and risk profiling methods, chances are it will hurt your wallet.
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With so many basic question left unanswered by them, how can they hope to earn your trust ?
Profits Promised
Auto trading and black box method of trading exist for over a decade now. Though they make the trader work easier they too have certain limitation. These criminals claim to generate a returns of 300% which is certainly enticing and captivating but that is a cheap trick used as a bait to loot everyday people.
Here are the complete details of the contracts:-
Standard Plan
Returns – 125%
Duration – 24 Hours
Min. Deposit – $15
Premium plan
Returns -150 %
Duration – 2 Days
Min. Deposit – $200
Delux Plan
Returns – 220%
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Duration – 3 Days
Min. Deposit – $500
Fortune Plan
Returns – 300%
Duration – 4 Days
Min. Deposit – $1,000
Affiliate Program
Ponzi schemes are structured in such a way wherein only the investor is exposed to risk financially. This service houses an affiliate program wherein they pay individuals or a group of marketers significant share of the revenue this firm makes from every investors referred through them.
The commission percentage ranges from 2% to 10% of the total investment affiliates bring in and they are even assisted with some helpful marketing tools. The promoters need not invest their own money into this scheme.
Domain Whereabouts
This domain was registered on 02/09/2018 and it expires after one year according to whois.com. As this website is only 5 days old as of publishing this review we do not have enough data to find out the regions they are targeting and their promotional plans.
Also there is no registrant information available as these crooks are using privacy services to cover up their details.
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| Crypto Betting Platform (CFDs) |
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Deposit and Withdrawals
The minimum deposit amount is $15 and the minimum withdrawal is $0.10. The e-currencies accepted by them are Bitcoin, Ok Pay, Perfect Money and Neteller.
Depending upon the withdrawal method there might be transaction fees imposed. The time taken for processing withdrawals is not specified.
Is CoinLux a Scam ?
A mundane one,
This firm is operating without any kind of authorization while following every type of unethical methods commonly seen in fake platforms. They are neither involved with trading or mining and not to mention there isn’t any supporting materials which can justify their claims.
Furthermore the details of their mining farms are strictly kept confidential. They are reluctant to provide the users with demo accounts and they do not even have the courtesy to reveal the names of their so called expert trading professionals. All these points clearly proves that this firm is not the one any investor should indulge with.
CoinLux Review Conclusion
CoinLux is just another ponzi scheme which poses as an ICO. Their narration is not convincing and the disturbing facts we found during our investigation about this platform surely cannot be overlooked for any reason. In order to earn money these fraudsters go to extreme lengths and even create back stories of their lives.
Anything can happen in the financial market at any time unless an individual follows proper risk management measures the chances of making a consistent stream of income drops down and even then 300% ROI every 4 days will be a dream.
Just got this (changed Id and pwd)
Subject: As yo have requested
Fra: Sarah Guide
Sendt: søndag, december 19, 2021 5:49 PM
Til: Recipients
Emne: As you have requested
As you have requested, We have funded your Coinlux net
Portfolio with 16btc $797,583.04 USD
Details below:
Website: www Coinlux net
Customer Id: xxxxxxxx
Password : xxxxxxx
Thanks
Never heard if them and obviously Scam/Fraud
I got an email from a stranger saying:
—————
Hi,
Bought the bitcoins at Irfan’s recommended exchange(paxful) and funded your www . coinlux . net portfolio with it.
See details below.
Amount: 28.735 BTC (about $1,650,950)
Portfolio: www . coinlux . net
Customer ID : (NUMBER REMOVED)
Pass : (PASSWORD REMOVED) (sorry i changed the password)
I checked coinlux and i have interest in investing there too. Do let me know when they start accepting new signups.
Talk later.
Kara.
—————-
So I checked the website to see if it was real and was surprised to see that it looked legit. I then entered the ID and Password and right away it said I had to change the Password, and to do that I had to give them a phone number. So I did that and got a robo call giving me a PIN number to then change the Password. So I did that. Then it said I had to deposit $24 USD in order to access the 1.65 million in the account. That was the big Red Flag. I’m sure once you deposit that money they then have your credit card info to charge more service fees, and of course they won’t let you make a withdrawal, probably saying your account has been flagged. I must say the scam seemed real at first but as soon as it said you had to pay to access the funds, that reminded me of a scam I made up for a joke:
——————-
Dear Sir,
My name is Taeka Yur Moola, I am a Nigerian bank manager who has recently stolen 500 billion dollars from the bank I work for. I got your name from Bart Simpson, a close friend of yours who asked not to be named, because for some reason he didn’t need 90% of 500,000 zillion dollars, or no, he was too busy to send me his bank account info. Or no, he didn’t have a bank account. Yeah, he didn’t have a bank account, because he’s not a real person. Yeah, that’s it. Anyway, he said that you could help me get this gigantic pile of cash out of my house and into a bank account.
Actually, the money is still in the bank but I need your bank account info in order to wire the money to you. Yeah. And then that way you can send 10% of the money back to me, and say it was a birthday present or something. Of course I’ll have to open up another bank account in order for you to do that. And I will. But I can’t now, because, well, the money has to come from outside the country. Yeah, in order for it not to be intercepted by the KGB. Yeah, that’s it.
Actually, no. After you get the money I’ll flea the country and then I’ll open up a bank account in some other country. Yeah. And then, and then, I’ll ask you to wire the money to me. Yeah, that’s it!
Anyway, in order for me to give you 50% of 900,000 zillion dollars (I think that’s about 450,000 zillion dollars, give or take a zillion) I need you to give me your bank account info, all your credit card numbers with expiry dates, your SIN number, ten signed blank cheques, and a signed but blank copy of your last will and testament.
Please send all this information to me at: YouAreBeingScammedByaSpam-Artist@yahoo.com
Once received I will contact you with the information on what to do next.
Thanks a zillion!
Yours truly,
Taeka Yur Moola
Ps. please forward this letter to all your friends so they can cash in on this once in a lifetime opportunity too.
—————–
Nuf said.
Recibi un mail con este texto
Supongo que la estafa sera que ingreses a su pagina y te cobren algun dinero por usarla .por las dudas ,no lo hice Nadie se equivoca con esa suma de dinero!!
Hi Allenson, As requested, we have now deposited 18 BTC which amount to ($895,106.88 USD) into your bitcoin portfolio at coinlux.net/signin Customer Id: 51047802, Password: reamsicle725#!
Coinlux is a scam company. I would like to share with you about coinlux. Although the coinlux admin told me that it is not scam and they are trustworthy since there is a telegram group chat, but they are not honest.
There is one scene whereby I place an investment of $15. After 24 hours of 125%, I should get $18.75. Once I withdraw out $18.75, the email stated that it has sent $18.75 into my wallet. However, when I open the blockchain wallet, I don’t receive $18.75. The email message is not reliable at all. From there onward, I make a complain to the admin (support) by messaging him at telegram and write an email to them. After that, the worst things is that admin is not telling me the truth and he insisted that I did not invest $15 into it. He pretend not to know what I am trying to say. Eventually, after making a complaint, the admin block me from messaging him. I can share you the screenshot if you want. Last but not least, the moral of the story is, not to trust all those people a lot. Try not to invest big amount. Hope you all will understand.
Coinlux becomes Scam! All the withdrawals are fake and tried to convince you to deposit. Do not trap in here!