COTP, it’s an abbreviation for “Cryptos OTC Trading platform”, it is majorly an MLM firm that works in the Crypto niche. COTP’s website has no reliable information on the company’s ownership or executives.
Instead, COTP supplies stock images of fictitious executives:
Notwithstanding the COTP’s CEO being “Jane Jenny” above, COTP’s sole promotional video presents another CEO Player:
COTP, however, can’t seem to get their falsehoods straight. Dariush is supposed to announce himself as COTP’s “Technical Director,” according to the screenplay.
COTP – FINCEN Certificate
COTP gives an FINCEN certificate for an MSB registration in an attempt to seem authentic.
Offshore fraudsters usually apply for this using fictitious information. COTP has incorporated a shell business in Colorado in this dispute.
On the 14th of October, 2021, Cryptos OTC Trading Platform was incorporated with fictitious information.
As a point of reference, the company’s owner is listed as Feng Yan. This individual is unlikely to exist.
COTP’s Colorado incorporation address, which also appears on their MSB registration, belongs to a wholly irrelevant mail forwarding firm (i.e. virtual address).
Basic incorporation and everything from FINCEN is irrelevant in the context of MLM proper research.
An examination of COTP’s website source code indicates that the site was created with Chinese users as a thought:
This obviously shows that whoever is in charge of COTP is headquartered in or has relations to China or a neighboring nation.
The United States is now the sole significant source of the traffic to COTP’s website, according to Alexa (25 percent).
The.COM domain for COTP was originally registered in 2019. On February 8th, 2022, the current owner(s) acquired the domain.
On October 2nd, 2021, COTP’s .NET domain was initially registered. On February 9th, 2022, the license was last renewed in Singapore with an incomplete address.
Additionally, COTP does not sell any items or services to the general public. COTP’s affiliate membership is the sole product that affiliates can promote.
COTP Review – Company’s Compensation Plan
COTP affiliates put their money into tether with the expectation of a return. Also, affiliates must actively invest in the maximum daily return is to be attained. Payments are made every two hours.
COTP does not give exact ROI rates, although promoters estimate maximum daily returns of 3% to 4%. On invested money, COTP pays referral fees down three tiers of recruiting (unilevel):
- Level 1 – get 15% on recruits.
- Also, level 2 gets 10% on daily returns.
- Level 3 Affiliates – they receive 5% ROI o recruited affiliates.
Additionally, affiliate membership with COTP is free. Also, investment in tether is required to fully participate in the associated income potential.
The minimum reinvestment amount is 9 USDT. This is also, I think, the first minimum investment amount.
Continue reading to find out if COTP is a scam or legit.
Conclusion – Is COTP Legit or Scam?
COTP does not present any verified evidence that it is trading. Audited financial reports submitted with financial regulators would be one type of proof.
Shell companies, FINCEN certifications, displaying backoffice figures on a screen, and watching YouTube videos are not acceptable substitutes for this regulatory requirement.
The company violates the Ponzi logic test as well. Also, COTP’s owner(s) would discreetly utilize a trading robot that’s capable of achieving 3% to 4% per day if they had one.
It does not take much time to convert a small sum of money into a fortune thru compounding at 3% to 4% per day. Instead, COTP is offering all internet connections sufficient users access, which, of course, is senseless.
COTP is a conventional MLM crypto Ponzi scheme, complete with defrauding investors and Shutterstock CEOs.
Similar to the majority of MLM Ponzi operations, when affiliate membership stops, fresh investment stops as well. For more MLM updates, stay tuned on our MLM page – Techsmoothy.com/MLM.