Almcoin Review – Intricate Scam Dupes Crypto Traders

Cryptocurrency trading has become a lucrative opportunity for many experienced individuals. However, as the trading business grows, so does the number of fraudsters trying to make money the underhanded way. The firm we’re about to discuss, unfortunately, belongs to one of those ruthless cybercriminals.

Find out how this fraudulent exchange devastated countless investors in our Almcoin review.

Another Unlawful Exchange

Almcoin Tech Corp. is the owning company of the the Almcoin exchange, according to the legal information on the website. The firm is an MSB registrant with FinCen. However, in order to be a fully regulated crypto trading platform, this business would need another license, not just as a money services business, money transmitter or similar.

Since the firm is not found in major registers kept by bodies like FCA, BaFin, CNMV and ASIC, it’s obvious that the entire project is illicit and isn’t certified to offer the services of crypto trading. Such platforms shouldn’t be invested in, as they do not provide the mandatory safety and protection of funds.

A solid example of a properly regulated exchange is Bitpanda, which we reviewed a while back, so hop over to that page and read more about how lawful firms operate.

How Cyberthieves Work

Fraudsters behind the scheme have bought an older domain, dating back to 2017. The first trace of an exchange, however, dates back to mid-2024, which explains the lack of Almcoin reviews. The almcoin.com scam mostly targets these nations:

• United States
• Canada
• China
• United Arab Emirates

The fraud is orchestrated through phone, unsolicited emails and via online chat services. Company agents pitch their services by flaunting some fictitious AI trading tool, coupled with a fake crypto airdrop with an alleged value of $500.

A doctored trading platform will show unrealistic market gains and profits. At the same time, agents will be back asking for additional investment in order to allegedly bolster the profits, starting the scam cycle.

If a victim starts doubting the validity of all this, the con artists turn to extortion by freezing the trading account. Should someone try to withdraw money, they request up-front fee payments.

Entire Wealth Lost to Scam

While there aren’t any notable reviews on popular ratings platforms, the various forums and image boards are buzzing with chatter. The Almcoin Reddit board, for instance, contains numerous testimonials from the victims.

One particular discussion tells the story of how schemers purposely target the elderly with their false promises. Another one tells a chilling story of more than $330,000 in stolen assets. If you’ve had any similar experience, don’t hesitate to contact our recovery experts.

Secretive About Fees

The Almcoin scam is characteristically non-transparent about all charges that apply on their platform. Taker/Maker fees aren’t revealed, and neither are any of the other costs. 

Usually, you’d expect a website to provide a fee schedule, which is a document that reveals all transaction costs and trading fees. 

Most popular exchange platforms tend to reward most active investors by applying discounts on trading fees, depending on the trader’s monthly volume. Not even that is discussed on this site. It’s entirely unknown what the costs are of any of the services.

Offer of Tools – Mediocre at Best

If you expect a variety of features or whatever these charlatans promised you, then you’re in for an unpleasant surprise. Features on this site are locked behind sign up conditions that include the obligatory Referral code. 

Therefore, no one without it will be able to create a new Almcoin login. That’s just the tip of the iceberg, so stay tuned for more details about the low quality service.

Broken Links and Simple Terminals

Even if you haven’t been able to register for a new account, you will be allowed to preview the trading room. Nothing particularly breathtaking will you find there, however. 

The basic and already seen web trader contains only the most simplified and rudimentary charts, information and commands.

If you plan to conduct advanced analysis and have deeper market insight, you should probably consider other options than the Almcoin app. All of the links found on the site’s homepage for downloading it don’t work anyway.

Unattractive Offer of Assets

While there is no exhaustive list of available assets, we can mention some of the apparently popular Almcoin crypto pairs. 

These are some of the digital currencies traded against USDT the most on this platform:

• BTC/USDT, USDC/USDT,ETH/USDT,EOS/USDT, LANE/USDT, ETC/USDT, ATOM/USDT

Referral Code Required

The exchange pretends to offer several services, all of which should be available through one same Almcoin login account. As it’s usually the case with online hoaxes, however, casual site visitors can’t create one for themselves.

The account creation form is relatively simple to navigate, but requires a referral code. This filters the potential applicants, making sure only those indoctrinated by boiler room agents gain access to the platform.

No Withdrawal Options

Unfortunately, there is no withdrawal policy with this firm, and the website itself does not discuss any payout methods at all. With access to the client area impossible, we were unable to gauge whether any payment channels are even available.

Numerous client testimonials, however, talk about withdrawals never being an option. Those who did try to withdraw were either cut off, or have been extorted for additional payments.

Unreachable Help Desk

As with many other online fraudsters like Alphas Crypto for instance, this website includes a make-believe customer help desk. The support is allegedly available via the live chat and email, but neither of these work.

This increases the control the swindlers have over the victims by making them rely on boiler room agents for everything. Unfortunately, their immediate interest is to steal more money, not resolve any issues.

Fight Back Against the Scammers!

This crypto exchange, although being legally incorporated credentials, is a completely unlicensed venture. The firm uses predatory strategies to illicitly obtain funds from their clients, making them a dangerous entity.

Numerous Almcoin complaints have surfaced about the exchange stealing hundreds of thousands of US dollars worth of assets. Don’t let this happen to you – contact our recovery team for help right away! We are available 24/7 in the live chat and offer a first consultation for scam victims absolutely free!

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