Cooinx & weecoin

Options
Richba
Richba Posts: 2 Newbie
in Savings & investments
Has anybody heard anything about this company? I have been offered an investment opportunity but am sceptical. Thanks

Comments

  • Aegis
    Aegis Posts: 5,688 Forumite
    Name Dropper First Post First Anniversary
    Options
    Stay skeptical. Almost all "investment opportunity" type approaches are scams. If you want investment advice, seek out a regulated investment adviser of some sort (financial adviser, wealth manager, stock broker, etc). If you receive any sort of cold call or mailshot, best advice is almost always to bin it.
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • Malthusian
    Malthusian Posts: 10,941 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Options
    It's an MLM cryptocurrency scam.

    You exchange money for worthless tokens and whoever sold the scheme to you - and the people above them - steal your money. The "opportunity" is that you can then try to steal money from others by finding other people to invest, for which you get commission, and possibly residual income (which is paid out of new investment).

    What the person trying to scam you is not telling you is that most of the pool of suckers has already been cleaned out, and you will almost certainly find very few people to steal from (if any) and lose your money.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    First Anniversary Name Dropper First Post Photogenic
    edited 18 January 2019 at 6:46PM
    Options
    Richba wrote: »
    Has anybody heard anything about this company? I have been offered [STRIKE]an investment opportunity[/STRIKE] gambling punt by a bunch of chancers but am sceptical. Thanks

    Corrected your typos.

    Steer well clear. If whatever these folks have is so good why arent they profiting themselves instead of trying to convince [STRIKE]suckers[/STRIKE] people who think gambling = investment
  • ChesterDog
    ChesterDog Posts: 1,112 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Options
    "Wee"coin.

    Ha ha ha.

    They're taking the...
    I am one of the Dogs of the Index.
  • MaxiRobriguez
    MaxiRobriguez Posts: 1,780 Forumite
    First Anniversary First Post Name Dropper
    Options
    If it was a real, legitimate and analysed investment opportunity then they wouldn't be offering you, a random individual with no association to corporate finance who has no idea about the 'opportunity' on offer the chance to buy in - because the professionals would understand the potential and stump up more than you ever would.

    This applies to all unsolicited investment opportunities.

    Avoid.
  • PennyGG
    PennyGG Posts: 1 Newbie
    Options
    A relative has been persuaded to invest in Cooinx. Is there anyway they can get their money back from the person who persuaded them?

    Thanks
  • Malthusian
    Malthusian Posts: 10,941 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Options
    PennyGG wrote: »
    A relative has been persuaded to invest in Cooinx. Is there anyway they can get their money back from the person who persuaded them?
    • Steal it back (not recommended)
    • Threaten / beat it out of them (not recommended)
    • Sue them (this is highly likely to be throwing good money after bad, unless they have assets in the UK like a house, and even then you may find that their money doesn't go far when everyone else they scammed jumps in after you)
    Other than that no. Unless they were an FCA-registered financial adviser (probably not but never hurts to ask).

    It is very likely that your relative will need to write it off as the money is gone.

    If anyone contacts them claiming they can get the money back, this is also a scam.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    First Anniversary Name Dropper First Post Photogenic
    Options
    PennyGG wrote: »
    A relative has been persuaded to invest in Cooinx. Is there anyway they can get their money back from the person who persuaded them?

    Thanks

    article-2403742-1B7EC094000005DC-954_308x185.jpg
  • kinger101
    kinger101 Posts: 6,282 Forumite
    First Anniversary Name Dropper First Post
    Options
    AnotherJoe wrote: »
    Corrected your typos.

    Steer well clear. If whatever these folks have is so good why arent they profiting themselves instead of trying to convince [STRIKE]suckers[/STRIKE] people who think gambling = investment

    Gambling is too kind. There's no chance of winning.
    "Real knowledge is to know the extent of one's ignorance" - Confucius
  • EdGasketTheSecond
    EdGasketTheSecond Posts: 2,558 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Options
    'MLM's do work' ?? Yeah for the people at the top.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards