Firm Openly Admitting To Being A HYIP

Cyber fraudsters have many faces and tricks up their sleeves. They are known for frequently changing names, platforms, and websites because the end justifies the means in their world.

Our Tonpex Review is an honest analysis of a dangerous investment scheme, openly claiming to be a High-Yield Investment Program (HYIP). Bear with us as we explain how the plot works and why you must stay away from dubious platforms such as Tonpex and Dripcoin.

Legal Info: Is Tonpex Regulated?

The bogus website did not reveal any relevant information about the firm’s legal background except for stating that the business is allegedly based in the United Kingdom. We looked up the firm in the UK Company House but got no results. 

Further investigation shows that the platform previously used a different website domain – tonpex.org. This rendition of the scheme was exposed in late November by the Australian Securities and Investments Commission (ASIC). The warning says that the Tonpex investment firm is “not authorized by a licensee.”

Italy’s CONSOB also added the entity to its alert list on December 6. This means the provider has no authorization to operate in the European Economic Area (EEA) and that the shady investment is dangerous.

Instead of trusting unlicensed imposters, you should stick to regulated providers operating under the watchful eyes of renowned financial authorities such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), BaFin (Germany), JFSA (Japan), MAS (Singapore), etc.

What Is a HYIP?

A HYIP is a fraudulent investment scheme that purports to deliver extraordinarily high returns on an investment, per Investopedia. Since HYIPs are essentially pyramid-type models, i.e. Ponzi schemes, the money gathered from new investors is used to pay those who came before them. 

Such programs rely on keeping clients for as long as possible, promising returns north of 100%. Tonpex openly claims to be a HYIP, which is a dumb move, most likely indicating that the fraud is not competent at all. Stay away from such platforms and report them to the authorities.

Who Are Tonpex’s Targets?

According to godaddy.com/whois, the tonpex.com website domain was created on May 25, 2023. Recently, the financial swindler started using it to defraud unsuspecting traders who reside in the following countries:

• Mexico;
• Venezuela;
• Dominican Republic;
• Ecuador.

The scam targets Spanish-speaking traders. While these countries may not be major financial hubs, most have regulations in force that require market participants to obtain an operating license.

To reiterate, the Tonpex crypto investment scheme has no license whatsoever. The devious investment platform is reminiscent of the Demaxis sham. 

Trader Reviews – Sharing Experiences

There are only three Tonpex reviews on trustpilot.com – two negative and one positive. The scanty feedback is not surprising given the website’s low trust score and suspicious background on webparanoid.com.

“Tonpex.com is a big scam. I invested and lost my money. I advise no one to invest on this company,” one unfortunate victim said, claiming the platform embezzled his funds.

We recommend you always read what users say about a certain provider to learn which methods the cyber hoodwinkers use to fool traders and how their diabolical schemes work. 

How the Investment Scam Works

Let’s outline how most investment scams work; you’re enticed to risk your money for hefty rewards and substantial return on investment. However, as soon as you request a withdrawal, you will be denied. The company’s customer support will simply cease all communication and you’ll be left without any compensation. 

Furthermore, the Tonpex platform may demand an illegal upfront fee before allowing users to withdraw any funds. As for the means and channels used to communicate with potential victims, the fraudster heavily relies on Telegram and WhatsApp. In case you’ve already deposited your funds, we can help you recover the money.

Available Investment Plans

Cryptocurrencies are incredibly volatile assets. Countless factors affect the growth/drop in prices of digital assets. As soon as you see that a provider is promising lucrative returns after short periods, know that you’re most likely dealing with a scammer.

Add to that the dubious legal background and lack of transparency and you have eliminated all doubt. As for the referral bonuses, the Tonex platform is aiming to expand its unscrupulous operation by making users recruit new members for a small reward

Deposit and Withdrawal Process

The website listed a couple of crypto coins that can be used to buy investment plans:

• Bitcoin;
• Ethereum;
• Litecoin;
• Bitcoin Cash.

The minimum deposit is 30 USD. However, given the provider’s shady background, you are unlikely to be allowed to withdraw your money.

Scammers prefer crypto payments because they are extremely hard to trace and undo. Such a method allows them to remain anonymous and run their schemes.

To reverse crypto transactions, you’re going to need to seek out professional assistance as these types of payments can be a nightmare to undo. Luckily, we have a team of experts that can help you recover your funds.

Key Facts To Consider About Tonpex

To summarize, Tonpex is a virtually anonymous investment hoax mainly targeting traders from Mexico, Venezuela, Ecuador, and the Dominican Republic. The platform has been blacklisted by ASIC and CONSOB.

We do not recommend the firm because it is unregulated and not transparent at all. In case you’ve lost money to the Tonpex scam, you must seek our professional help to recover your funds!

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.

Book your free consultation here and start the chargeback process.

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