Alltrust-Defi.com Review
Investors Alert Alltrust-Defi.com – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements.
Introduction:
Decentralized finance, or DeFi, is a fast-growing sector of the cryptocurrency industry that aims to provide peer-to-peer financial services without intermediaries. However, not all DeFi platforms are trustworthy or legitimate. Some of them are scams that use deceptive marketing and false promises to lure unsuspecting investors into losing their money. One such example is Alltrust-Defi.com, a website that claims to offer various DeFi products and services, such as lending, borrowing, staking, farming, and trading. However, upon closer inspection, it becomes clear that Alltrust-Defi.com is an unregulated entity that has no information listed on the site about its team, location, contact details, or legal status. In this blog post, we will expose the warning signs of this scam and provide some tips on how to safeguard against fraudulent brokers.
Products and Services:
Alltrust-Defi.com claims to offer a range of DeFi products and services, such as:
– Lending: Users can lend their crypto assets and earn interest rates up to 15% per year.
– Borrowing: Users can borrow crypto assets and pay interest rates as low as 3% per year.
– Staking: Users can stake their crypto assets and earn rewards up to 20% per year.
– Farming: Users can farm new tokens by providing liquidity to pools and earn rewards up to 30% per year.
– Trading: Users can trade various crypto assets on the platform’s decentralized exchange (DEX) and enjoy low fees and high liquidity.
However, these claims are not backed by any evidence or verification. The website does not provide any details on how these products and services work, what are the risks involved, what are the terms and conditions, or what are the security measures in place. Moreover, the website does not have any links to its smart contracts, audits, whitepapers, or social media accounts. The website also does not have any testimonials or reviews from real users or partners. Therefore, it is highly likely that these products and services are either non-existent or fraudulent.
Financial institution & regulatory license:
Alltrust-Defi.com claims to be a “registered financial institution” that operates under the laws of Estonia. However, this claim is false and misleading. According to the Estonian Financial Intelligence Unit (FIU), which is the authority that regulates crypto service providers in Estonia, Alltrust-Defi.com is not registered or licensed by the FIU or any other competent authority in Estonia or elsewhere. The FIU has also issued a public warning about Alltrust-Defi.com on its website, stating that it is an unregulated entity that may be involved in money laundering or terrorist financing activities. Therefore, Alltrust-Defi.com is not a legitimate financial institution and does not have any regulatory license or oversight.
Trader’s Reviews and Customer Service:
Alltrust-Defi.com does not have any trader’s reviews or customer service available on its website or elsewhere. The website does not have any section for user feedback, ratings, or complaints. The website also does not have any contact information, such as email address, phone number, live chat, or support ticket system. The only way to communicate with the platform is through a web form that requires users to provide their name, email address, subject, and message. However, there is no guarantee that anyone will respond to these messages or address any issues or concerns. Therefore, Alltrust-Defi.com does not have any trader’s reviews or customer service that can attest to its credibility or reliability.
How do online trading scams operate:
Online trading scams are schemes that use deceptive tactics to trick people into investing their money in fake or fraudulent platforms. These scams typically operate in the following ways:
– They create a website that looks professional and legitimate, using logos, images, videos, testimonials, and other marketing materials that appeal to potential investors.
– They offer attractive products and services that promise high returns, low risks, easy access, and other benefits that sound too good to be true.
– They use social media, email campaigns, online ads, cold calls, or other methods to reach out to potential investors and persuade them to sign up for their platform.
– They ask for personal information, such as name, email address, phone number, bank account details, or identity documents.
– They ask for an initial deposit or fee to activate their account or access their products and services.
– They may show some fake profits or positive results on their platform or dashboard to make investors believe that they are making money.
– They may ask for more deposits or fees to unlock more features or opportunities on their platform or to withdraw their profits.
– They may stop responding to any communication or requests from investors or block their access to their platform or account.
– They may disappear with the investors’ money and personal information, leaving them with no recourse or recovery.
How to Safeguard Against Fraudulent Brokers:
To safeguard against fraudulent brokers, investors should do the following:
– Do their own research and due diligence before investing in any online platform or service. They should check the background, reputation, registration, license, and reviews of the platform or service provider. They should also verify the information and claims on the website with independent sources, such as regulators, auditors, experts, or other users.
– Be wary of any platform or service that offers unrealistic or guaranteed returns, low or no risks, easy or instant access, or other incentives that sound too good to be true. They should also be cautious of any platform or service that asks for upfront payments, fees, commissions, taxes, or other charges that are not clearly explained or justified.
– Be careful of any platform or service that asks for personal information, such as name, email address, phone number, bank account details, or identity documents. They should also avoid sharing their passwords, PINs, private keys, recovery phrases, or other sensitive data with anyone.
– Use secure and reputable platforms or services that have proper security measures in place, such as encryption, authentication, verification, and protection. They should also use secure and reputable payment methods that have chargeback or refund policies in case of disputes or fraud.
– Keep track of their transactions and balances on their platform or service. They should also monitor their bank accounts and credit cards for any unauthorized or suspicious activity. They should report any issues or problems to the platform or service provider as soon as possible and seek help from the authorities if necessary.
Conclusion:
Alltrust-Defi.com is a scam website that claims to offer decentralized finance products and services, but it is actually an unregulated entity that has no information listed on the site. It uses deceptive marketing and false promises to lure unsuspecting investors into losing their money. Investors should avoid this website and any other similar platforms or services that exhibit the same warning signs. Investors should also follow the tips above to safeguard against fraudulent brokers and protect their money and personal information.
