COTPS (Crypto OTC Trading Platform); is it a scam or the best thing ever? Let’s jump into this independent review.
I have explained the following in this article:
- What is COTPS?
- COTPS Registration
- COTPS login
- COTPS Who.is Domain information
- Who is the owner of COTPS?
- Is COTPS legit?
- Is COTPS a scam?
What I am going to put out in this article is going to be totally independent and I am going to state 10 reasons that hint at and strongly suggest that COTPS Arbitrage trading bot is a scam.
COTPS is a Ponzi scheme and if you get involved you are very likely to lose your money, the worst outcome is that you will be contributing money to scammers/fraudsters which means you are funding illegal criminal activities.
What is COTPS?
“COTPS is a blockchain OTC and cryptocurrency exchange platform, it is currently the world’s largest OTC exchange”.
How does COTPS work?
Crypto OTCs or COTPS as it is called is a platform that claims to help investors buy cryptocurrencies at a lower rate from certain exchanges and sell to other exchangers at a higher rate, this is the concept of Crypto Arbitrage. we call these platforms Arbitrage AI bot trading.
“The cryptocurrency we sell on the COTPS platform is USDT (Tether). COTPS has an Artificial intelligence system that scans the international markets to identify buyers in other countries whose bid price for USDT is higher. COTPS then sells our USDT to these buyers at a higher price and buys back the USDT at a lower/standard price and sends our capital and proportion of our profits to us within 2 hours”.
These are the lies they tell gullible investors, we will expose them in this article.
To register on COTPS; go to https://cotps.com/#/pages/login/register. COTPS solicits investments in Tether.
You can only access the login feature after you must have registered.
10 Reasons why COTP is a scam?
1. First of all; on the main website, i.e the cotps.net they have pictures of the team, they’ve got Jane Jenny who is the CEO, Van Fleet who is the CIO, and Lisa who is the COO are all google stock images. A simple google image search will reveal to you that they are just google stock images copied by the scammers behind COTPS.
The question now is why are they lying on their official site? this is what criminals do.
2. The second red flag is the video on the site with Darius. The video doesn’t actually make sense in English language, it is just a series of nonsense, highly technical financial related words but when you actually listen to it you will agree to the fact that it doesn’t even make sense.
3. Another red flag though a smaller red flag is that they wrote on their website that they are providing excellent customer service and user experience but yet on their website there’s no contact information. They didn’t even list their email address or physical house/office address, no chat form or anything on their main website which is another red flag.
You will find it very difficult to track them down or speak to them, that is simply because they are criminals and they don’t want you to speak to them.
4. The fourth red flag is that they say their current team consists of 116 employees, you will think with a company this big and registered in America, they will have some of these employees listed on LinkedIn, but if you do a search on LinkedIn you will not find a single employee from COTPS.
5. The fifth red flag will be a favorite with a lot of promoters of COTP, they will say but look we’re registered with MSB and fincen.gov, but when you go to https://www.fincen.gov/msb-registrant-search and input the registrant number and search, indeed we found Crypto OTC Trading Platform Limited.
However, the name of the person who was listed as the company owner is Feng Yan and if you search for “Feng Yan” with “Crypto OTCs trading” on google you will realize that the person doesn’t exist, it is a fake name. The address given on fincen.gov is a virtual address. there’s no company in that address in America, It is a fake address.
6. Not only are they using a virtual address with a fake name of registration, you will also see that fincen.gov actually said in the MSB registrant search that “The inclusion of a business on the MSB Registrant Search Web page is not a recommendation, certification of legitimacy, or endorsement of the business by any government agency”.
To those people promoting COTPS on the basis that they are registered with the MSB and is therefore legitimate, even fincen.gov says this is not a certification of legitimacy. It is a pointless argument to use MSB registration to prove that they’ve got a legitimate company.
7. The COTPS business fails a very simple logic test and it is a Ponzi logic test. If COTPS really could produce 3% per day, then anyone who has that bot, that technology they wouldn’t offer that for other people, you just use it for yourself if you actually look and see what you would generate even with a small capital.
Take a look at the image above, and have a look at what I could make with an initial deposit of $200 for just 1 year, you will actually end up with $915,701.49. This fails the test of logic.
8. There is no physical proof of actual trading, there are a lot of people promoting COPTS saying they are trading Arbitrage but there’s no evidence that this works whatever and that will be very easy to provide as financial auditors would insist on auditors’ account to prove that those sorts of returns are real.
The numbers on the website screen don’t mean anything as anyone could put those numbers, again this is a big red flag.
9. They said that COTPS has been trading since 2019 but if we go to any Wayback machine e.g https://archive.org/web and search any of their websites.
Let’s go back to June 12, 2021 just 10 months ago, we can see a web shot which confirmed that the website was for sale it wasn’t even COTPS’.
The idea that they been trading since 2019 doesn’t make any sense.
10. The last red flag is related to the 7th red flag which is the ‘simple logic test’. Let’s say they were a legitimate company and they’ve been trading since 2019, let’s assume you started with $10,000 and you didn’t recruit anyone into their Ponzi scheme, if we decide to look at this result for over 3 years, because that’s now 3 years since 2019 and we calculate how much money it is we can see that it is, we can see that it is 137 trillion dollars.
So how on earth would they today be asking for people to deposit 9 dollars to join their Ponzi scheme, again COTPS is a huge scam.
COTPS Who.is Domain information
From the who.is COTPS domain information; COTPS was registered on GoDaddy server. We can agree that the COTPS domain was registered on the 14th of March, 2019, and it was updated on the 8th of February, 2022 (This was when the scheme was launched), the domain will expire on the 14th of March, 2028.
No information about the domain registrar was disclosed.
Who is the owner of COTPS?
Cotps.com and Cotps.net is a scam. Do not give out your hard-earned money to criminals.
Red flag(s) for COTPS
- They told a lot of lies e.g Website has been existing since 2019; COTPS website was used for something different prior to the date the website was updated in February 2022.
- Same platform with two different websites with two different interfaces.
- Photos put on the platform are stock images of people gotten from the internet.
- COTPS registration documents are all false.
Green flag(s) for COTPS
- No green flag available for this scam site
Average Trust score
- FINANCIAL SECURITY: 5%
- WEBSITE QUALITY: 10%
- CUSTOMER SERVICE: 2%
- SOCIAL STATUS: 1%
Average weighted score: 18%
CURRENT STATE: PARTIALLY PAYING
Is COTPS legit?
Is COTPS a scam?
Due to the obvious Red flags we’ve exposed in COTPS, we have no option but to conclude that it is a scam, do not invest in it.
Thank you for reading our honest review on COTPS, If you have any questions or comments, you can leave them below in the comment section.