Equitrustfinance.com

Crypto scams

https://equitrustfinance.com

Analysis

Equitrustfinance.com, a website that has been flagged as a fraudulent crypto exchange, was exposed just 81 days after its launch. The site promises significant growth on investments, but once the funds are invested, the fraudsters vanish with the money. Interestingly, the business name isn’t registered in the state it purports to operate from. Moreover, the company’s presence is conspicuously absent on social media platforms. In addition, major consumer review platforms do not feature any reviews for this company.

A crypto exchange scam is a fraudulent scheme where a company or website poses as a legitimate cryptocurrency exchange. They lure investors with promises of substantial returns on their investments. However, once the investors transfer their funds, the scammers vanish, leaving the investors with significant losses.

Red Flags

Fake business name

Recently registered

Missing Information

No reviews

No social media

Scam Explainer

Crypto exchange scams exploit people's desire for quick profits in the volatile crypto market. Typically, these scams promise high returns and minimal risk, which is a red flag. They often masquerade as legitimate exchanges, using professional-looking websites and making bold claims about their security measures. Scammers lure potential victims with promises of get-rich-quick schemes. These often involve initial small profits to gain trust. Once invested, these profits either stop or the victim's account is locked. The scammers deploy social media and internet marketing to reach a wide audience. This often includes testimonials from supposed "happy investors." They use pressure tactics like limited time offers or warning of missing out, to hurry individuals into investing. In reality, the funds invested go straight into the scammer's pocket. The website could disappear overnight, leaving victims with no way to recover their money. It's a harsh lesson in the dangers of quick-profit schemes.