Almcoin.com & Lane Wealth Club Review [Lanewealthclub.com]

This review examines the legitimacy and credibility of Almcoin, a trading website that claims to offer high returns through cryptocurrency investments and trading.

Almcoin, accessible via almcoin.com, presents itself as a professional trading platform with a mobile app interface designed to appeal to novice and experienced traders.

Almcoin.com & Lane Wealth Club Review

This review was prompted by a concerning report found on the Better Business Bureau (BBB) Scam Tracker. A user reported losing $150,000 after engaging with Almcoin, following a series of interactions that began on a WhatsApp group promoting short-term stock trades. The user highlighted several red flags, including the requirement to invest profits into a cryptocurrency controlled by the group and the inability to withdraw funds without additional deposits.

This review aims to investigate these claims and provide a thorough analysis of Almcoin’s operations and practices.

Complaint Analysis

On March 4, 2024, a user was added to a WhatsApp group promoting high-return stock trades and was soon introduced to the Almcoin exchange. They were encouraged to download the Almcoin app and register using a specific invite code.

After registration, the user began trading crypto futures and was required to reinvest 70% of their profits into a cryptocurrency named LANE, controlled by the group. Despite initial profits, the user incurred significant losses and was persuaded to invest further in a new cryptocurrency (SCT) through an Initial Coin Offering (ICO). The user’s funds were locked in the exchange, and they could not withdraw any money without depositing additional external funds. The total amount lost by the user amounted to $150,000, with no clear way to recover their funds.

Claims:

  • Offers high returns through short-term stock and cryptocurrency trading.
  • Provides an AI-based tool named AI Turbo for trading signals.
  • Requires users to reinvest a significant portion of their profits into group-controlled cryptocurrencies.

Red Flags Identified:

  • Inability to withdraw funds without additional deposits.
  • Investments directed into proprietary cryptocurrencies with no clear value.
  • Similarity to other known scam websites designed to look like mobile apps, even when accessed via desktop browsers.
  • User reports of substantial financial losses and deceptive practices.

Given the detailed complaint on the BBB Scam Tracker and the identified red flags, Almcoin appears to exhibit characteristics common to fraudulent trading websites. This review will investigate the specifics of Almcoin’s operations, user experiences, and potential warning signs to assess its legitimacy comprehensively.

Almcoin.com Overview

Almcoin.com presents itself as a comprehensive blockchain trading platform, offering a wide range of services globally, including digital currency to fiat exchange, spot trading, contract trading, ICO trading, currency information, blockchain asset issuance, quality funds, and blockchain education.

The site emphasizes its innovative features, such as the “World’s First Stablecoin Trading Center,” promising impeccable security through Ledger Vault technology, which purportedly provides up to $150 million in insurance against various risks.

Additionally, Almcoin claims to offer 24/7 multilingual customer service and an advanced ICO platform.

Red Flags and Scam Indicators

The website’s interface is designed to look like a mobile app, a common tactic in many fraudulent schemes. The content includes detailed trading statistics and promotional banners and boasts about their innovative and secure trading environment. They mention that their average daily turnover reaches $3 billion with peaks exceeding $10 billion and that they have obtained an MSB (Money Services Business) license in the United States. However, specific details about this license are not verifiable on the site. An email address for support is provided (support@almcoin.com).

A critical red flag is the mismatch between the professional appearance and the lack of verifiable regulatory information. The website uses high-flown language about security and innovation without providing concrete evidence or verifiable credentials. The mention of “AI-based one-stop NFT issuance platform” and “Ledger Vault technology” sounds promising, but there is no way to confirm these claims independently. Additionally, dynamically served content makes it difficult to assess the platform’s legitimacy fully.

The serious red flags include the following:

  1. Lack of verifiable regulatory information and ambiguous claims about licenses and security measures.
  2. The design mimics a mobile app interface even on desktop browsers, a common trait of fraudulent trading sites.
  3. The website emphasizes high returns and innovative features without providing substantial proof or independent verification.
  4. There is a mismatch between the professional appearance and the lack of detailed, verifiable contact information and credentials.
  5. The singular indexing of the homepage on Google indicates a lack of transparency and potentially manipulative SEO practices.

Overall, the presentation of Almcoin.com raises significant concerns about its legitimacy, aligning with characteristics commonly found in scam trading platforms. The detailed BBB complaint further substantiates these suspicions, highlighting the user’s significant financial losses and the manipulative practices employed by the platform.

Almcoin User Reviews and Testimonials

A critical Google search reveals multiple negative user experiences and scam alerts. For example, a detailed Better Business Bureau (BBB) report describes the Lane Wealth Club, which operates Almcoin, as a scam where users are encouraged to buy Lane coins but face difficulties when withdrawing funds. Victims reported losing significant amounts of money, such as one case where a user lost $50,000 after being unable to transfer money out of the platform despite supposedly profitable trades.

Additionally, reviews like Reddit and ScamTips highlight concerns about Almcoin being a fraudulent exchange. Users report initial successful small withdrawals, but larger withdrawals are blocked with various excuses from customer service. The platform’s design mimics legitimate trading sites, but closer inspection reveals unrealistic promises, a lack of verifiable regulatory information, and poor customer service responses.

Moreover, Almcoin.com’s presence on social media is minimal, with mentions often related to scam reports rather than legitimate trading activities. The website’s lack of significant traffic data and user reviews further solidify the suspicion of its fraudulent nature. These findings strongly suggest that Almcoin.com is a scam, and potential investors should exercise extreme caution.

Summary of BBB Scam Report for Lane Wealth Club and Almcoin

On March 4, 2024, the victim joined a WhatsApp group promoting short-term stock trading with high returns. They were introduced to ALMCOIN, an exchange requiring users to download the ALM MIN app. The app’s registration involved using specific links and invitation codes. The group also promoted AI Turbo, an AI-driven trading tool. The victim began crypto futures trading, mandatorily reinvesting 70% of profits into LANE, a group-owned cryptocurrency, which could not be withdrawn until June.

The victim incurred significant losses, which the group blamed on their trading decisions. When the new currency SCT was issued, the victim was persuaded to invest $117,000 of LANE funds, with promises of high returns and loans offered to cover additional investments. Despite earning $6 million from the ICO on paper, withdrawals were blocked unless more external funds were deposited. The contract did not stipulate such conditions, confirming suspicions of a scam.

Dollars Lost: $150,000

Targeted Person’s Location: IL, USA- 60148

Scammer Information:

  • Location: NY
  • Phone: 1(573) 353-8273
  • Website: https://h5.almcoin.com/#/pages/base/index

Scam Type: Investment

Business Name: Lane Wealth Club

Date Reported: June 12, 2024

The report details the scam’s manipulative practices, including fraudulent AI tools, non-withdrawable investments, and the demand for additional funds under pretenses.

Summary of BBB Scam Report for ALMCOIN

Another report describes a scam involving the trading platform ALMCOIN, which purportedly uses AI TURBO signals to guarantee profitable crypto contracts. However, users cannot withdraw money from the platform despite increasing balances. The platform’s customer service continually provides various excuses for canceling withdrawal requests.

Dollars Lost: $50,000

Targeted Person’s Location: CO, USA- 80204

Scammer Information:

  • Location: Seattle, WA- 98104
  • Phone: (646) 897-3455
  • Website: https://almcoin.com

Scam Type: Investment

Business Name: Lane Wealth Club

Date Reported: May 23, 2024

The report highlights the platform’s deceptive nature and emphasizes victims’ challenges in recovering their funds.

Summary of BBB Scam Report for Almcoin Tech Corp

The report details a scam by Lane Wealth Club, operating an Alm Min trading platform. The platform encourages users to buy Lane coins with their “profits.” Suspicion arose when the user found no trace of the supposed leaders. Attempts to withdraw funds were blocked with excuses that the platform is not a bank. Even after attempting to reestablish trust and make small withdrawals, the user’s account was accessed by someone else, resulting in significant losses. Customer service stopped responding, and the user noted that many people might be falling for this scam, risking their savings and retirements. The report warns that unchecked could lead to widespread financial ruin.

Dollars Lost: $23,694

Targeted Person’s Location: NJ, USA- 07083

Scammer Information:

  • Location: Denver, CO- 80203
  • Website: Alm Min App

Scam Type: Investment

Business Name: Almcoin Tech Corp

Date Reported: April 27, 2024

The report underscores the platform’s deceptive tactics and its operators’ lack of accountability. The Better Business Bureau (BBB) encourages victims to share their experiences and potentially seek assistance from the media or law enforcement.

Analysis of Almcoin Reviews

The complaints surrounding ALMCOIN and its affiliated entities like Lane Wealth Club reveal a complex and multifaceted scam operation. The nature of these complaints consistently points towards manipulative and deceitful practices aimed at exploiting investors’ trust and naivety.

Nature of Complaints

Initial Contact and Promotion: Victims often report being added to WhatsApp groups or contacted through social media platforms where high-return investments in cryptocurrency trading are promoted. These groups typically introduce the ALMCOIN platform as a reputable exchange, urging members to download an app (ALM MIN) and start trading. The promise of easy profits and advanced trading tools like AI Turbo entices users to participate.

Involvement and Escalation: Once involved, victims are instructed to reinvest their profits into proprietary cryptocurrencies like LANE. They are lured with promises of higher returns from future offerings such as new ICOs (Initial Coin Offerings) like SCT. The requirement to keep funds in LANE and not withdraw until certain milestones (like the launch of AI Turbo) is a common tactic to keep victims’ money trapped within the system.

Manipulation and Deceit: A recurring theme in these complaints is the manipulation of trading outcomes. Users often report initial success and small withdrawals to build trust. However, as investments grow, so do the excuses to prevent withdrawals. Complaints detail how customer service becomes unresponsive, and victims are coerced into further investments through fabricated errors (e.g., receiving the wrong token quantity requiring additional funding to rectify).

Significant Losses: Victims face substantial financial losses. One report detailed a loss of $150,000 after being manipulated into continuous reinvestment and blocked from withdrawing profits unless additional external funds were provided. Promising large, unattainable profits contingent upon further deposits indicates a Ponzi scheme, where early returns are paid from the new investors’ deposits.

Common Themes and Comparison to Known Scam Tactics

  1. High-Pressure Tactics: Victims are pressured into making quick decisions, often told of limited-time offers or exclusive opportunities. This urgency prevents thorough due diligence and is a hallmark of many financial scams.
  2. Initial Success Followed by Increasing Demands: Scammers build trust by allowing small, initial withdrawals. This classic confidence trick is designed to lure victims into a false sense of security before ramping up demands for larger investments, often with the promise of rectifying fabricated mistakes or fulfilling supposed new investment opportunities.
  3. Lack of Transparency and Accountability: Complaints consistently highlight the inability to trace or verify the identities of those running the scheme. Vulgar or hidden contact information and unresponsive customer service ensure that victims cannot hold the perpetrators accountable or easily reclaim their investments.
  4. Exploitation of Technological and Financial Jargon: Scammers use complex financial jargon and the allure of cutting-edge technology like AI-based trading tools to convince victims of the legitimacy and sophistication of their operations. Exploiting investors’ lack of technical knowledge creates a barrier to skepticism and critical questioning.
  5. Regulatory Evasion: Another tactic to appear legitimate is repeatedly mentioning regulatory licenses (such as the MSB license) and adherence to KYC/AML standards in their promotions. However, these claims are often unfounded or fabricated, designed to mislead investors into believing the platform is secure and compliant with financial regulations.

The complaints against ALMCOIN reveal a well-orchestrated financial scam that utilizes high-pressure sales tactics, initial trust-building withdrawals, and sophisticated-sounding financial technology to lure victims into making significant investments. The consistent themes of manipulation, deceit, and lack of accountability align closely with known Ponzi schemes and confidence tricks, underscoring the importance of due diligence and skepticism when approaching unsolicited investment opportunities.

Expert Opinion about Almcoin.com

As an experienced online scam investigator, I have thoroughly analyzed the website and associated operations of ALMCOIN. Based on the information gathered from various complaints and reviews, it is evident that ALMCOIN does not meet the criteria of a legitimate trading platform and exhibits several red flags commonly associated with online scams.

Red Flags and Indicators

Lack of Transparency and Accountability: One of the primary indicators of a scam is the lack of transparent and verifiable information about the company’s operators. ALMCOIN’s use of hidden or vague contact details, including anonymous registrant information and non-professional email addresses, raises significant concerns. Legitimate businesses, particularly those dealing with financial assets, typically provide clear and accessible contact information to build trust and accountability.

Unrealistic Promises of High Returns: ALMCOIN’s promotional tactics, including the promise of high returns through its AI Turbo tool and proprietary cryptocurrencies like LANE, are classic signs of a scam. These promises of guaranteed profits are unrealistic and are often used to lure unsuspecting investors. In legitimate finance, no credible platform guarantees high returns with minimal risk.

Manipulative and High-Pressure Sales Tactics: Victims report being added to WhatsApp groups and pressured into quick investment decisions, a tactic designed to prevent thorough due diligence. The insistence on reinvesting profits and creating artificial urgency are manipulative strategies to keep funds within the scam’s ecosystem and prevent withdrawals, typical of Ponzi schemes.

Inconsistent and Unresponsive Customer Service: A recurring theme in user complaints is the unresponsiveness of ALMCOIN’s customer service once significant amounts of money are involved. This lack of support is a strong indicator of a scam, as legitimate financial institutions prioritize customer support to maintain trust and resolve issues promptly.

Regulatory and Licensing Claims: ALMCOIN claims to have regulatory licenses and adherence to KYC/AML standards. However, these claims are often unfounded or fabricated to give a veneer of legitimacy. Authentic verification of such licenses is crucial, and the lack of verifiable evidence further undermines the platform’s credibility.

Bottom Line

Based on the analysis, ALMCOIN exhibits multiple red flags indicative of a scam. The lack of transparency, unrealistic promises, manipulative tactics, unresponsive customer service, and dubious regulatory claims collectively indicate a sophisticated scam operation. Potential investors should exercise extreme caution and avoid engaging with this platform. Verification of licenses, transparency of operations, and realistic promises are fundamental criteria for determining the legitimacy of any financial trading platform, all of which ALMCOIN fails to meet.

Additional Reviews & Complaints

On June 17, 2024, another complaint was filed with the BBB (Better Business Bureau) regarding Lane Wealth Club AI Turbo:

I initially found this group through Facebook, which connected me to their WhatsApp and Telegram threads. They discussed stock and crypto trades using their proprietary AI predictive system. I followed the group for months before investing any money, believing it was safe due to the constant success stories posted by hundreds of members.

A big “opportunity” came up to buy a new token before it went public. The group admins used manipulative tactics to create urgency, urging us to go “all in” on this opportunity. They even suggested taking out loans from the Merchant Trade Center, claiming the group would act as guarantor and that we, as members, were valued and guaranteed funding. The trade center they used is called MoroCoin.

They persuasively pushed people to go “all in” by any means necessary—taking out loans, maxing out credit cards, emptying bank accounts—claiming this opportunity would be “life-changing.” Unfortunately, I fell for it and did all of the above to participate.

However, now they are saying I can’t access or use the gains I made from this trade to pay off the loan I took from the trade center. It doesn’t make any sense. They send me daily messages via Telegram showing that the loan is accruing high interest and penalties, threatening to report me to a third-party debt collector, ruin my credit, and take me to federal court for litigation if I don’t pay it off immediately.

I am very scared because they have my personal information, including my SSN, name, address, bank statements, and mortgage statement. I’m afraid my identity has been compromised and that they will destroy my credit.

This person has reported being scammed for $60,000. They provide the following information:

  • Targeted Person’s Location: HI, USA- 96740
  • Scammer Location: New York, NY
  • Mobile: (332) 209-6958
  • Website: Lanewealthclub.com
  • Scam Type: Investment

On July 8, 2024, the following complaint was filed with the BBB (Better Business Bureau) regarding an investment scam at almcoin.com:

Asked for our driver’s license for the verification process, similar to any decentralized crypto blockchain. Almcoin.com (Platform), Wealth Expansion USA F28 (WhatsApp group), Almcoin CS Rep (16282359926 WhatsApp number), @ALMCOIN88 (Telegram username), Burton Wilde (WhatsApp group: Wealth Expansion Mentor), Mia Bell (Burton Wilde’s Assistant > @lr754 (Telegram username) > 16465413191 (WhatsApp number))

  • Dollars Lost: $10000
  • Targeted Person’s Location: MA, USA- 01906
  • Scammer Location: Denver, CO- 80203
  • Scammer email: cs@almcoin.com
  • Scammer Phone: (628) 235-9926

Lanewealthclub.com

Lanewealthclub.com, a domain registered on December 16, 2023, through Gname.com Pte. Ltd., exhibits numerous red flags indicating a potential scam. The domain’s registration details reveal it is set to expire on December 16, 2024, and its status is clientTransferProhibited, preventing unauthorized domain transfers. The registrant’s information, including the name, organization, street address, and contact details, has been redacted for privacy, making it challenging to identify the true owners. The site is hosted by Cloudflare, Inc., with an IP address in Toronto, Canada, under the AS name CLOUDFLARENET.

The domain’s traffic and engagement metrics are alarmingly low, with only 485 visits reported last month and a 73.25% decrease in traffic. The majority of this traffic originates from the United States. Organic search traffic is minimal, with just 84 visits from six keywords indicating a lack of substantial search engine presence. The site has only 12 backlinks from 10 referring domains, predominantly from low-authority sources, further suggesting questionable credibility.

Moreover, the site’s marketing and traffic sources are obscure, with no significant social media traffic or display advertising data. The absence of identifiable traffic and engagement data underscores the site’s potential as a deceptive platform. The domain’s rapid creation and subsequent activity decrease, coupled with its opaque ownership and hosting details, strongly suggest it may be a fraudulent site designed to lure unsuspecting users.

Lanewealthclub.com Complaints

On June 26, 2024, the following complaint was filed with the BBB (Better Business Bureau) by a person who reported being scammed for $675,000:

I started following an “investment professional” named Burton Wilde in early March. He was promoting cryptocurrency trading on an exchange called ALMcoin Exchange and sharing trading signals. Initially, he credited everyone with $500 in their accounts to trade his signals. He claimed to be developing an AI Turbo trading artificial intelligence system, which he intended to sell to the public. Wilde communicated through a WhatsApp chat group called AI Turbo VIP A27, where he provided his trading advice. His WhatsApp number is 407-394-0023, and his company, Lane Wealth Club, has a website at www.lanewealthclub.com. Wilde’s assistant, Mia Bell, primarily contacted me, and her WhatsApp number is 312-619-7320.

The scam began when Wilde started promoting Initial Coin Offerings (ICOs) in the chat group, presenting them as zero-risk investments with high potential returns. He first introduced a new cryptocurrency called MMR, available only through ALMcoin Exchange at $0.90 per token. Wilde predicted the token would list at $3.60, and it did, according to the exchange. However, I did not participate in this ICO.

Later, Wilde promoted another token, NNET, which could be bought for $2.00 per token. Following his advice, I invested $400,000, raising some funds from my brother and borrowing $30,000 from Mia Bell. The NNET token opened at $16.00 and rose to $21.25, resulting in a substantial profit. Encouraged by this, I continued to follow Wilde’s advice, even participating in another ICO for a token called STC. Despite heavy investment, resulting in a gross sale of $11,200,000, I was unable to withdraw my funds from the ALMcoin account due to alleged restrictions.

Wilde and Bell proposed loans and further investments, but I am now stuck in a situation where my account remains locked unless I can pay off $250,000. My attempts to negotiate and resolve this with Bell have so far been unsuccessful, and ALMcoin Exchange is reportedly under investigation, complicating the situation further.

Almcoin Review Conclusion and Recommendations

A thorough investigation of ALMCOIN reveals numerous characteristics commonly associated with online scams. The analysis reveals a pattern of deceptive practices, including a lack of transparency, unrealistic promises of high returns, manipulative sales tactics, and unresponsive customer service. These red flags collectively indicate that ALMCOIN is not a legitimate trading platform but a sophisticated scam operation designed to defraud unsuspecting investors.

Verdict: ALMCOIN is a Scam

Given the overwhelming evidence, it is clear that ALMCOIN does not meet the criteria for a legitimate financial trading platform. The site leverages the allure of high returns and advanced trading tools to attract victims, only to trap their funds and prevent withdrawals under various pretexts. The lack of verifiable contact information and regulatory compliance further solidifies the conclusion that ALMCOIN is a fraudulent scheme.

Recommendations for Users

  1. Avoid Engagement: If you come across ALMCOIN or similar platforms, it is crucial to avoid engaging with them. Do not provide personal information, make deposits, or follow their investment advice.
  2. Report the Scam: ALMCOIN victims or those suspecting fraudulent activity should report the incident to relevant authorities. Reporting scams helps raise awareness and potentially shut down fraudulent operations. Victims should also report the scam to CNC Intelligence, a reputable cyber investigation company offering a free initial consultation.
  3. Seek Refunds: If you have already invested money with ALMCOIN, immediately contact your bank or payment provider to dispute the transactions. Explain the situation and request a chargeback or refund due to fraudulent activity.
  4. Protect Personal Information: Change any passwords or security details you shared with ALMCOIN. Monitor your financial accounts and credit reports for any unauthorized activity.
  5. Educate Yourself: Familiarize yourself with common scam tactics to better recognize and avoid them in the future. Websites like Scamwatch and the Better Business Bureau provide valuable resources and tips for identifying scams.

Additional Resources

For further assistance, consider the following steps:

  • Contact CNC Intelligence: They offer expertise in cyber investigations and can provide guidance on how to proceed if you have been scammed.
  • Utilize Government Resources: Report the scam to government bodies like the Internet Crime Complaint Center (IC3).
  • Seek Legal Advice: Consult with a legal professional specializing in financial fraud to explore additional recovery options.

By taking these steps, you can protect yourself and others from falling victim to similar scams in the future. Stay informed, vigilant, and proactive in safeguarding your financial interests.

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