COS and COSCoins have obtained securities fraud warnings from the UK.
As per the FCA’s December twelfth warning, COS and COSCoin are “not authorised … and could also be focusing on folks within the UK”.
As per UK securities legislation;
Virtually all companies and people should be authorised by (the FCA) to hold out or promote monetary companies within the UK.
COS, aka Cosetek, is a “click on a button” app Ponzi run by way of CosCoin.
Following a regulatory fraud warning from Washington in September, COS went on to break down in late November.
Within the lead as much as COS’ collapse, SimilarWeb tracked 1.7 million month-to-month visits to COS’ web site.
Particularly for November 2023, nearly all of COS’ web site visitors originated from the UK (22%), Morocco (18%), Bangladesh (11%) and Hungary (10%).
Complete COS sufferer numbers and the way a lot they’ve misplaced stay unknown.
“Click on a button” app Ponzis are run by a bunch of Chinese language scammers. To this point BehindMLM has reviewed over 100 of the low-effort scams.