Warning – The United Kingdom’s regulator, the Financial Conduct Authority, has reported Coin-Wallet
Coin-Wallet Broker
Coin-Wallet (Coin-wallet.co) has caught the attention of both users and regulators. This Coin-Wallet review analyzes who Coin-Wallet claims to be, the services it offers, its regulatory status, common red flags, and actions to take if you lose money.
About Coin-Wallet (Coin-wallet.co)
The Financial Conduct Authority (FCA) has detected that Coin-Wallet is using the identity of genuine FCA-authorized firms to deceive consumers in the United Kingdom. This includes using the tactics of clone firms, where fraudsters copy authentic business details, including names, email addresses, and Firm Reference Numbers (FRNs), to create an impression of legitimacy. Coin-Wallet is not registered or regulated by the FCA, yet it is contacting people as if it represents an FCA-authorized firm.
Clone firms typically reach out to people out of the blue through unsolicited emails or cold calls. Due to the firm’s mix of actual and counterfeit information, the victim may believe they are dealing with a genuine financial services business. The email addresses used by Coin-Wallet include multiple variations, such as support@coin-wallet.co and compliance@coin-wallet.co.uk. The websites, coin-wallet.co, and coin-wallet.co.uk, belonging to Coin-Wallet, are also part of this group of companies operated by the clone firm.
Fraudsters generally continue to alter and/or modify their identities. Therefore, it is important that you authenticate all contact information for these kinds of businesses through the FCA Register.
There is no affiliation with Coin-Wallet or CoinShares Capital Markets (UK) Limited (FRN: 828561), Electronic Wallet Limited (FRN: 902002). Both are properly authorised and registered firms operating from their London address and using the contact details available on the firm’s website.
Lost Funds to Coin-Wallet?
If you have lost funds to Coin-Wallet, take action now. Fill out a form to ask for a case review and get fund-recovery assistance.
Is Coin-Wallet a Trustworthy Platform?
To figure out if Coin-Wallet is trustworthy, consider the following points:
- Does the broker have a valid license from a top regulator (FCA, ASIC, CySEC, etc.)?
- Does the website have verifiable company registration information?
- The phone numbers, office addresses, and legal documents are real and can be traced.
- Are customer testimonials similar, or do a lot of users say that there are problems with the withdrawal?
Conclusion:
- With the lack of proper licensing or company information, the risk might be much higher. Always check before you deposit any funds.
How Risky Platforms Often Operate
Here are the suspicious trading platforms’ tactics that are used the most:
“Pig-Butchering” / Long-Term Manipulation
Scammers first build a connection through chat apps, social media, or dating sites and then lead the unaware to trading on platforms where they are eventually ripped off.
Clone Trading Platforms
Such platforms imitate real trading platforms — showing rising balances, charts moving favourably — but these are fake. Withdrawals may be allowed initially, then blocked later.
Other Indicators
- Calls or messages urging you to make large deposits.
- Assurances of very high returns with no risks and short waiting times.
- Requests for “taxes” or “clearance fees” to be paid before the cash-out can be processed.
- A website that looks perfect, but in reality, it just hides the lack of regulatory disclosure.
- Fake user reviews, getting celebrity endorsements, or buying reviews to create an illusion of credibility.
Warning Signs Associated with Coin-Wallet
- Absence of a valid, verifiable license number.
- The company address and contact information are either nonexistent or hard to trace.
- The application of forceful sales strategies is pushing for large deposits very quickly.
- The claim of “guaranteed profits” is not credible.
- The online reviews speak of payments being stopped, support disappearing, or staff being unresponsive.
What to Do If You Have Invested with Coin-Wallet
Should you have already deposited money with Coin-Wallet and suspect problems, do the following steps right away:
- Stop all communication with the platform and the representative that is connected to it.
- Let your bank or payment processor know about it – inquire about charge-backs, blocking more payments, or recovering funds.
- Collect proof – keep all communication, screenshots of the trading platform, deposit slips, chat logs, email threads, and transaction IDs.
- Inform the authorities – reach out to your local police or cybercrime department and lodge a formal complaint. Also, inform the financial regulator that is relevant to your jurisdiction.
- Get professional help for the recovery – if the losses are considerable, consider very carefully reliable fund-recovery or legal assistance (check credentials, fees, and past cases before hiring).
Quick Summary
Coin-Wallet lack of regulatory oversight, along with the multitude of red flags, makes it a high-risk market. If you decide to go on, it is imperative to check its license, corporate identity, and withdrawal history first.
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