MassCoin Review – Investing Here Leads To Massive Losses
MassCoin Review – Investing Here Leads To Massive Losses

What seems like a lucrative investment opportunity quickly turns into a never-ending nightmare. A trio of unscrupulous websites, MassCoin scam lures inexperienced crypto retailers, only to have their assets stolen.

What is it that compelled countless traders into this trap? Find out in our MassCoin review.

Regulated by: Unregulated Cryptocurrency Exchange Scam
Is This Company Safe? No, never invest with unlicensed companies!
Known Websites:

Have Warnings from: N/A
Registered in: Kenya (allegedly)
Operating since: 2023
Trading Platforms: N/A
Maximum Leverage: N/A
Minimum Deposit: USDT 100
Deposit Bonus: Alleged, unclear
Trading Assets: Cryptocurrencies, Crypto Binary Options
Free Demo Account: No
How to  Withdraw from This Company? This is a fraudulent platform. Contact our chargeback experts to learn more about recovery options.

Deprived Of Any Legal Information

The Terms and Conditions document on the website cite a parent company, CB Payments Ltd, operating with the trading name of MassCoin.

The company is allegedly based in Kenya, but there’s a couple of problems. Firstly, cryptocurrency markets are not regulated in this nation, and secondly there is no information about the firm either with BRS or CBK.

Checking the databases of multiple cryptocurrency regulators across the globe, including NFA, AUSTRAC, FINTRAC, CySEC, FCA and BaFIN got us nowhere.

It seemed as though this company doesn’t exist anywhere outside of cyberspace, and that might as well be true. There are other similar cryptocurrency fraud platforms that use the same strategy, KCC Coin being just one of them.

Dealing with these sorts of deceitful companies incurs greater risk than just asset loss. They involve identity theft, terrorist funding and money laundering to name a few.

Pig Butchering In Action

The websites all seem to be registered at about the same time in 2023, with a Singaporean hosting service. At least, that’s the information available through the WhoIs database.

These South East Asian schemes all have something in common, and that is the prevalence of the romance scheme. The fraud is commonly executed in the following regions:

  • United States
  • Canada
  • United Kingdom
  • Germany
  • Laos

This strategy employs boiler room agents to find targets on dating platforms like Grindr or Badoo, and pretend to have a romantic interest in their target.

As their make-believe relationship develops, agents actively work on stealing their victims’ money through fishy websites. It is possible to recover the stolen funds, but only through legal action of a skilled professional.

Unclear Service Costs

The majority of regulated and reputable cryptocurrency exchanges charge the Maker and Taker fees for market services. In addition, you can also expect deposit, withdrawal, and account maintenance fees. None of this is ever mentioned with the MassCoin platform.

The firm employs a loan sharking strategy for crypto-based loans, with a 5% of daily interest. In addition, the Terms of use mentions that the company reserves the right to charge 5%-50% of the deposit for users from certain, undisclosed areas.

Bonuses And Referrals

Allegedly, all clients are eligible for a USDT bonus as soon as they sign up. To receive this bonus, you must contact the customer support first. There’s also a referral programme that is hidden in a similar fashion, with the only difference being common referral links and QR codes for all clients.

Features Are A Mess

Digging for any useful information about trading features is a fruitless effort. Even if you find something, it doesn’t really reflect on the actual trading environment.

It’s all a convoluted maze of misinformation, stolen from other companies and stuck on the website haphazardly in order to fill the blank space.

Horrible Trading Software

The sole trading platform is the website itself. Some may call this seamless integration, but we see it as a half-cocked attempt at creating something that remotely resembles a trading environment.

Only a simple charting software is available, and only for a single type of trading. Charting information is streamed from TradingView, but we’ve noticed that it doesn’t update regularly, and lags significantly.

The firm alleges a discrete mobile app that should, in theory, be downloadable from the website. Instead of a link to Google Play or App Store, you will only get a single picture that does nothing.

Trading Banned Assets

At least the fraudsters are true to the service they are mimicking, and offer various crypto coins for trade. Alleged trading assets include BTC, ETH, SOL, EOS, DOGE, LINK and some others.

Not nearly as many as a reputable exchange, where you may trade tens of thousands of coins and tokens. In addition the company offers cryptocurrency binary options trading, which is banned worldwide.

Dysfunctional Accounts

Creating a MassCoin account doesn’t give you unlimited access, as the password serves no purpose. Instead, you’ll have to get a new authorization email and enter a new single use code each time.

The company features DeFi staking, which has 7 “gears”, starting with 100 USDT for 0.5% ROI, and ending with 99,999,999 USDT for 1.5% ROI after an unknown time interval.

There is also crypto coin pledging that consists of 3 plans:

  • 100 USDT; 2.2%-2.6% daily for 3 days
  • 10,000 USDT; 2.6%-3% daily for 7 days
  • 50,000 USDT; 2.8%-3.2% daily for 15 days

Shady Payout Conditions

The exchange has several cryptocurrency transfer channels by which clients may facilitate payments. Both TRC and ERC networks are available, as well as a bank card payment. Unlike deposits, withdrawals require a password which, as we mentioned before, simply doesn’t function.

As there is no MassCoin withdrawal policy, there’s no way to get even a remote idea on how you might get your money out of the platform. If you have assets stuck with MassCoin or NBKCOINS, get in touch with our chargeback experts as soon as possible!

Pretense Of Customer Service

The customer support relies on a live chat option, but this isn’t even hosted on the website proper. It’s a 3rd party service, provided by LiveChat. Although not uncommon with many firms today, this particular chat option requires your login credentials, which, as we’ve already mentioned, don’t work.

Got Defrauded? Let’s Get Your Money back!

Allegedly a Kenyan firm, this cryptocurrency exchange doesn’t appear in registries of any relevant authorities of this nation. Not that this would matter much, as the Kenyan lawmakers are yet to adopt any crypto regulation act.

Functioning without any relevant license or authorization, the company blatantly steals their clients crypto coins through shady practices. Don’t let your money go to waste! Contact our legal experts via the live chat, and file a chargeback today!

FAQ Section

What is MassCoin?

It is an unauthorized cryptocurrency exchange that provides illegal trading assets.

Is MassCoin a Scam?

Yes, this platform is a full blown scam with no redeeming qualities!

Is It Possible to Recover Stolen Crypto?

Although possible, it is exceedingly difficult. Book a free consultation with our legal team to find out more about the recovery procedure.


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