Warning Investors S9 Crypto Ltd Clone – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)
In the world of cryptocurrency trading, finding a trustworthy platform is essential. Unfortunately, S9 Crypto Ltd is not one such platform. This blog post sheds light on the deceptive practices of S9 Crypto Ltd, a clone of the legitimate company Alchemy Markets Ltd. We’ll explore what a cloned scam is, how S9 Crypto Ltd operates, and how you can safeguard yourself from falling victim to such fraudulent schemes.
Regulation and Compliance:
Regulation plays a vital role in ensuring the integrity of financial service providers. The Malta Financial Services Authority (MFSA) is tasked with this role in Malta. On October 29, 2021, the MFSA issued a stern warning about S9 Crypto Ltd. Their investigation revealed that S9 Crypto Ltd is neither registered in Malta nor authorized to provide financial services in the country. More disturbingly, S9 Crypto Ltd was found to be masquerading as Alchemy Markets Ltd, a legitimate company licensed by the MFSA for providing investment services.
This form of scam is referred to as a cloned scam. In cloned scams, fraudsters replicate the name, logo, website, or other details of a legitimate company to dupe unsuspecting individuals, often targeting those seeking high returns or who are less experienced in the financial market.
It comes as no surprise that S9 Crypto Ltd has garnered no positive reviews from customers. In fact, a quick search reveals numerous warnings and complaints from people who have been defrauded or have observed the suspicious nature of the entity. Here are a few examples of customer experiences with S9 Crypto Ltd:
– “S9 Crypto Ltd is a scam. They lured me in with promises of substantial returns, only to block my access and cut off all communication when I tried to withdraw my funds. Stay away from them.”
– “S9 Crypto Ltd seemed like a professional platform with similarities to Alchemy Markets Ltd, a reputable company. Upon closer inspection, I realized the differences in domain name, contact details, and vague terms and conditions. S9 Crypto Ltd is a cloned scam, and I reported them immediately.”
Products and Services:
S9 Crypto Ltd claims to provide various crypto trading-related products and services, including crypto trading signals, crypto trading bots, crypto trading courses, and crypto trading accounts. However, these offerings are either non-existent, defective, or fraudulent. For instance:
– The crypto trading signals are often inaccurate, outdated, or manipulated.
– The crypto trading bots are typically faulty, malicious, or hacked.
– The crypto trading courses are incomplete, outdated, or misleading.
– The crypto trading accounts are often fake, insecure, or inaccessible.
What’s more concerning is that the S9 Crypto Ltd website is a clone of the legitimate Alchemy Markets Ltd website (https://alchemymarkets.com), which is licensed by the MFSA. S9 Crypto Ltd has copied the name, logo, design, content, and other details from Alchemy Markets Ltd, creating a false impression of association. However, there is no connection or affiliation between S9 Crypto Ltd and Alchemy Markets Ltd.
Customer Support and Customer Reviews:
When it comes to customer support, S9 Crypto Ltd disappoints. They offer no contact details or channels for customers or potential customers. There are no phone numbers, email addresses, live chat, or social media accounts, and they are unresponsive to inquiries or complaints. Providing no support or assistance is a telltale sign of a fraudulent operation.
S9 Crypto Ltd is a cloned scam, exploiting the reputation and details of Alchemy Markets Ltd to deceive the public. It lacks any regulatory oversight and is not registered in Malta or any other jurisdiction. The products and services it claims to offer are nonexistent or unreliable. If you engage with S9 Crypto Ltd, you risk losing your hard-earned money. Be cautious and vigilant in the world of cryptocurrency trading, and avoid entities like S9 Crypto Ltd at all costs.