Cryptolux (cryptolux.io) claims to be the most advanced crypto trading but which is said to yield returns of more than 45% monthly. This type of returns may seen achievable to some newbie investors but rest assured they are impossible to achieve on a consistent basis.
While following strict risk management techniques. We were unable to find any information about the person orchestrating this scam. This service has been operational for over 1 year as of publishing this review and has cost thousands of dollars to the investors who ignorantly invested into this scheme.
To know more about this ponzi scheme in disguise, read our full review which will enlighten you about the true nature of this fake ICO.
Company and Contact Details
The companies which provide investment advice has to be registered and licensed in most countries and adhere to some strict guidelines. Cryptolux is an ICO, they basically raise money for trading from a pool of individuals and in return issue them tokens.
After the time period agreed by both the participants mature, the investors are supposed to get certain amount of profit along with their initial capital. When we were looking if this company has all the necessary documents in place to carry out these type of activities, we couldn’t find any legal licenses they must hold in order to operate lawfully.
We have confirmed through both FCA and FTC, this firm has never been licensed thereby operating illegally.
If you go through this platform then you will quickly realize that there is something fishy going on because first of all these criminals have not put up any details about their company. The support team of this platform is nearly non-existent.
If you encounter any problem or have any queries then the support team can be reached through email only. Isn’t it strange for an investment firm which boasts of generating 45% returns monthly to operate without a dedicated support team ?
How does Cryptolux work ?
This platform states that they have employed expert professionals to handle and look after the funds. The AI based algorithm which take trades automatically is said to revolutionize the crypto sector but during our investigation the points proved otherwise.
There is no information about what parameters or news events are considered by the software before executing new trades. They have even failed to showcase previous trading history which means we do not know the efficiency of the bot and the maximum draw down which we might face.
There is no assurance about the accuracy rate of the algorithm and they have not talked about any risk profiling techniques they use in case a sudden market crash happens. Considering all these points no experienced investor will never trust this firm with their funds.
Regardless of your starting deposit, the only plan this platform offers returns of 45%. Profiting from the crypto markets is definitely possible but achieve these kind of targets are unrealistic. Though you might succeed once or twice, the trading account will get blow sooner or later as there is no money management rules followed.
Trading requires dedication and knowledge about the markets unlike what these crooks offer. Always turn down the offer if it is too good to be true especially if they are from unregulated entities.
This company has undeniable number of similarities to that of a ponzi / pyramid scheme and goes as far as tier 7 level which is unheard off. Fake investments like these relay heavily on marketing team as the amount of money they make is axiomatic to the number of investors involved.
The affiliates are paid a fraction of deposit amount paid by every investor they have referred to this service. Just like many scams, this firm does not require the affiliates to hold an active account in order to get their share of the revenue.
According to the information provided on alexa.com this website ranks 23,934 globally and in Brazil it has a rank of 4,573 which makes it one of the most viral scams ever. The main countries they have gained huge traction are Brazil, Russia, India, Iran and Myanmar.
Thanks to whois.com. We know that this domain was registered on 24/08/2017 and it expires on 24/08/2019.
Deposit and Withdrawals
The minimum deposit and payout amount is $ 10. The payment method accepted by this firm are Bitcoin, Litecoin, Ethereum, Bitcoin cash, Dash, etc.,
We do not know whether there are any fees imposed on transactions. The withdrawals are said to be processed within minutes.
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Can I trust Cryptolux ?
A big no,
Every factor about this firm is sketchy. They adore anonymity and have failed to provide a single factor to prove that they are reliable. The names of the fund managers also are not put up. Another major red flag which caught our attention is about the CEO of this firm who is known by the name Robot Alexandar.
He is said to have worked for more than 35 years in the banking industry who later resigned and started this firm. Since we couldn’t verify his identity or his telltale story, we believe that he is a fictitious character.
Cryptolux Review Conclusion
After going through every byte of data provided on this website it seems like this platform has got nothing to do with trading at all. They are just using false narratives to loot investor and fill their pockets and their firm is nothing more than an inflated ponzi scheme.
On top of all these hard facts there has been heaps of complaints against them from angry investors who lost a lot of money to them. Ask yourself is it worth to trust this service with your money after seeing so many disturbing facts ? There is no way we would send them our funds despite what they tell us.
Have you tried Cryptolux.io? How would you describe your experience? Let us know by commenting below.