The Washington State Division of Monetary Establishments has issued a fraud warning pertaining to COS.
Describing COS as a “fraudulent cryptocurrency buying and selling platform”, DFI took motion following a client criticism.
COS is an easy “click on a button” app Ponzi run by Chinese language scammers. As a part of the ruse, COS pretends to be primarily based out of Washington.
On the web site “coscoins.com”, COS claims to be “a know-how firm primarily based in Washington, USA, we based COSCOIN in 2015”.
A CosCoin LLC Washington shell firm certificates can be supplied:
Addressing these representations, DFI warns
The Coscoin entity is a restricted legal responsibility firm registered in Washington with a purported principal workplace situated in Fife, Washington.
Nonetheless, the Securities Division couldn’t verify that the enterprise is definitely situated there, or engaged in lawful enterprise actions.
Jackson Blaze is listed as Coscoin’s Governor on the Washington Secretary of State’s company filings.
The cellphone quantity supplied doesn’t look like a sound cellphone quantity itemizing for the USA.
Regardless of representations that it has been round since 2015, COS solely launched a couple of months in the past.
SimilarWeb tracks prime sources of visitors to COS’ two recognized web site domains as:
- “coscoins.com” – UK (40%), UAE (Dubai, 39%) and Hungary (10%)
- “cosetek.com” – Russia (29%), UK (19%) and Germany (13%)
SimilarWeb’s information suggests the UK is being closely focused by COS scammers.