Profit Coins by Rocio Knight is a cryptocurrency trading platform offering “up to 1% profit per day.”
To make use of this invest all you need is to invest a minimum of 150 Euro. No prior knowledge is needed.
Someone versed in the ways and pitfalls of the crypto industry can cast a solid verdict on ProfitCoins.io after a glance or two at the website.
What do these guys peddle?
A get-rich-quick scheme, offering a 1% daily ROI, which is hyped to “last forever,” is completely free and requires no skills on the part of the client.
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Should we even get into further details on this? Let’s do it anyway…
How does the ProfitCoins software work?
As a general rule, you should always consider every offer that fits the mold of “too good to be true,” to be a scam.
In this instance, we are dealing with a crypto-focused, auto-trading solution, which takes advantage of arbitrage.
It buys a certain amount of a certain crypto at one exchange, and it sells it at another exchange, for a profit. All this occurs within a few seconds, otherwise the profitability of the setup may slip away.
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This way, it is claimed that return rates of 30% per month are achieved “consistently.”
The feat does not require any kind of expertise on the part of the user and the system is available for free, with no strings attached.
If that is not the definition of “too good to be true,” nothing is.
If someone actually developed such a system, the last thing on his/her mind would be to share it with the public.
The way the Profitcoins.io sales pitch is delivered falls well short of the mark too.
The website itself – while looking OK-ish at first glance – ends up raising quite a few red flags under closer inspection.
The people behind it -purported to be real and genuine – are presented with pictures that look a lot like stock photography.
Indeed, the alleged founder and director, a certain Rocio Knight, has a LinkedIn profile too, with the same picture and not a single different one. There are no other traces of this person anywhere online.
The website itself, has been set up from the get-go with the copy featured now. Yes, that includes the 3,500 alleged clients the operator has.
A person who apparently worked on the project as a freelancer, hired online, makes it clear in a comment made on a profitcoins.io review, that the whole thing was set up the way it currently is, from the get-go, so the information presented on the site is all fake.
To add insult to injury, the said person has also revealed that the perpetrators of the scam actually scammed him and another person who worked on the “project” too, as they never saw any remuneration for the work they’d put in.
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The alleged address of the company behind the profitcoins.io brand is non-existent.
There is no operation of this type located at 122 Leadenhall Street, London.
The user testimonials featured on the homepage are not just obviously fake, one of them used to feature a rather hilarious slip-up as well.
The testimonial of Franziska B., an alleged “mother of two” and participant in the profitcoins scheme, used to feature “PROJECT NAME” instead of the actual Profitcoins name, making it ridiculously clear that the whole thing had been drawn up way before the actual name of the “project” was even established.
This mistake has since been corrected, as the perpetrators themselves probably read the musings of the Bitcointalk forum participants who had spotted the slip-up.
Another interesting twist is, that while the company is allegedly based in London, and that it is a global operation with clients in every corner of the globe, all the names of the testimonial providers are German.
What does that mean?
Not much really: it is just an awkward and unnatural pattern, which also indicates the artificial nature of these testimonials.
Bitcointalk is not the only channel used by crypto community members to bash the Profitcoins.io scam.
Trustpilot is another platform where scores of complaints have been published, despite the best efforts of the scam perpetrators to influence their overall review-ranking through fake positive reviews/appraisals.
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The positive reviews on this page are all very brief and in the same vein, making it clear that they are indeed quite artificial.
The complaints on the other hand follow much more randomly natural patterns. Some of them go on and on, while others deliver the verdict within a sentence or two.
The conclusion that can be drawn from these reviews is obvious: it is extremely easy to deposit cryptos with Profitcoins.io, but making a withdrawal is an entirely different issue.
Moving on the whois information of the Profitcoins.io domain name, we bump into yet another major red flag: none of the relevant bits of information (more precisely those about the identity of the registrant) are publicly available.
Furthermore, the domain seems to have been registered from Turkey.
People at Bitcointalk have linked the operation to a certain Senem Erdogan, so that bit seems to make sense – not that it inspires any trust at all.
The Pofitcoins.io Ponzi dimension
Just when we thought Profitcoins.io couldn’t fare any worse in a review, we’ve discovered a Ponzi-scheme feature to it too: the scam encourages users to bring others into the fold, offering them certain rewards.
Complaints We Received
On November 23, 2023, we received the following complaint from a person who reported being scammed for $3.6K:
Years ago, I used profitcoins.io but never received my $3,000 back. It turned out to be a scam. I also transferred $30,000 to an acquaintance claiming he needed assistance with his crypto account. He said he had cancer and promised to repay me, but never did. I still have his contact information on Telegram. Additionally, I paid $3,000 to someone for trading assistance, but he lost it all. After I requested repayment, he blocked me on Telegram.
Profit Coins Review Conclusion
As cryptocurrency scams go, Profitcoins.io is what one would call a “hot mess.”
It has major problems on the credibility front and for someone versed in the ways of the industry it screams scam from the get-go.
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Here’s a rundown of its top “sins”:
- It is too good to be true
- Its pitch is shoddy and lacks every semblance of credibility
- It has a Ponzi dimension
- Its reputation is abysmal
- It fails every step of the way marketing-wise
- There’s great secrecy surrounding its pushers.
I invested 4 BTC. After 3 months, they reached 8 BTC. I asked them a lot of time my money but I have neither received anything. A real scam !
THIEVES
I have been waiting for 5 weeks and still no sign of the bitcoin I withdrew. Support is useless. They keep saying that a supervisor will take care of the matter soon but they do nothing, they couldn’t care less.
I recommend to whomever is in the same situation that you report this to Action Fraud UK. That’s what I did. The more we are, the quicker they will look into the matter.
They stopped paying. I am waiting for my payout over 10 days. Customer service didn’t help till now. Scam.
Total scam for stealing bitcoins! There is nothing just they attract you first month with earnings and later makes look it had got -99% loss!
Me too promising massive profits they profit while you looking stupid blowed away money to a complete stranger they pretending to be your friend.Just disgusted with they fraudulent people taking advantage of good people who just trying to live a Lil.Sharing personal shit with these folks clamming like they yo buddy report these individuals immediately.Honestly I even trying give them the benefit of the doubt,they stall for time promising you they gonna talk to they so called boss.Smfh 😳 I thought you work alone since when you have a boss,manager a glitch in the system.We need to collect fee in order collect the funds owe to you I’m like wtf 😳😤.Why you didn’t tell me this shit in the beginning it’s all a elaborate scam to get you to pay more money.Think about it folks I got you all the bitcoins profits massive,only you doing to cash out pay the fee that’s all.Then I asked long do it takes first said only 24hrs,I asked again now 48hrs only because I suggested it fucking lying.Bogus email,I even went on site have a problem with name too many fucking red flags I even try to get in contact with technical support they never email back.The people doing the scamming not thinking you have family depending on you,your bills you thinking you about to receive money to pay your bills,vacation take yo kids to Disney World.Now you made promises you can’t keep you been scammed wtf 😳 Uma do now.Anybody reading this I hope you take notes these individuals are no good,they trying to drain you dry if they can.Posting and selling lie of homes and cars they don’t owe,using other people shit maybe they renting.Want give you the real information red flag they don’t you know they being fraudulent.They live outside your country would really be hard to track the people,you can try to use to Federal Bureau Investigation cybercrime unit.
I would like to share my horrible experience with Profitcoins.
Whoever posted good reviews here, probably is either fake personalities, or they did not invest a large sum of money.
I have invested during the end of September 400 Euros and made a withdrawal request a few days later. The withdrawal indeed came through to my wallet with the promised profit.
This made me gain confidence that I could invest a larger sum of money. I then invested 2 BTC to be able to enjoy the 1% daily profit for over 2 BTC investment.
From that point, things started to take a sharp turn. A withdrawal of just 0.015 out of the 2 BTC, took more than 2 weeks to go through. After this tiny withdrawal, my balance of 2 BTC went to 0.01 BTC and the app shows -21000% profit. At that point I realized this is a complete scam project.
I have contacted their support and also via email and received a laconic response, that I have seen other post on other review and bitcoin forum website. Apparently they claim this is how the app works, and you have signed on the T&Cs that clearly say it.
I also managed to contact other investors from my country as well as from around the world and, if they did exceed the 2 BTC investment, they ran into the same problem.
Profitcoins is definitely a scam. I am warning anyone who reads this now, do not put your money into this. IF you would like to get more details about my experience you can contact me through Facebook, linkedin or through this designated email that I opened – profitcoinsexperience@gmail.com
I am also adding some of the screenshot showing the original investment and the -21000% loss and my conversations with their support and their email response.
Yea all they ass scams I been scammed too 😞
this article is trashes the business without evidence. so even if its true its a shitty article
This guy must work for Profitcoins seeing as his comment trashed this article without evidence that the article has no evidence, not to mention the spelling is shitty as hell. Personally as a writer, I thought that the article expresses it’s point with well thought out and researched points that are exceptionally well worded.
True I agree with you on this
Great article but… why so many stars?
It should have just one, as it is a scam…
as of today (1-10-2018 or 10-1-2018) profitcoins.io is down.
As for all Ponzi Schemes, the first ones might be lucky – someone needs to make a win and tell positive about it an lure others in..
Other than that the address listed on the website is the one of a Secretary Service Company, meaning some who creates companies as a service, basically no background check of customers required.
The indicated telephone number is not a London number.
Their Compliance statement seemed to be copy and paste from a Stock Listed company and would not be applicable even if they would do legitimate business.
Plus a lot things when you do some more research..
I deposited a small amount and after a few days deposited up to 0.02 bitcoin. A month later I withdrew 0.03. Scam or not, I got my money back and a little extra for no work.
I was a freelancer who wrote an article for them. They paid me in a deposit to them. No money lost, just an hour or two of my time. It showed up on my dashboard, but I am unable to withdraw. Made the request 3 months ago. Multiple contacts, no progress. At least I didn’t put actual money into it.
Bullshit. This is a big scam.
Great article, thank you!