This review addresses the Cryptos OTC Trading Platform (COTPS) scam that promises you up to 100% monthly returns on investment.
What is COTP
COTPS (COTP) or Cryptos OTC Trading Platform is an online platform that supposedly will earn you a passive income.
The platform is specialized in over-the-counter trading and arbitrage trading. Daily returns on investment are advertised as high as 3.6%.
COTP says that all digital assets held in the app are FDIC insured up to 250,000 USD per customer. Also, the company is registered in Colorado and as a MSB with FinCEN.
But is COTPS legit, can you trust it with your money?
Be it COTPS or COTP or Crypto OTC Trading Platform, it is all one giant scam. You should not invest any money with it. In this review we explain the details.
A more recent version of this arbitrage fraud is AI Tiger.
Let’s start with the obvious thing. COTP uses two domains: cotps.com and cotps.net. Both are interlinked. Cotps.net shows pictures of the team that supposedly is running the entire operation, but everything is fake.
The pictures are stock photos and not photos of actual people working at COTP. The guy in the video is very probably a paid actor.
Showing fake picture and saying that these people are the management of the company is a proof of scam.
No FDIC insured
The Cryptos OTC Trading Platform claims on its official website that all digital tokens held within its app are FDIC insured up to 250,000 USD per person.
But it is not true. The Federal Deposit Insurance Corporation provides deposit insurance to regulated companies only, and COTP is not regulated. Which brings us to another point.
Not regulated and illegal
COTP is registered in Colorado, so it is a US company. Since it is clearly providing investment services, it has to be regulated, but it is not. So it is breaking the laws and it is an illegal investment service.
Don’t get fooled by the FinCEN registration of Cryptos OTC Trading Platform Limited. the Financial Crimes Enforcement Network (FinCEN) is not a regulator that oversees investment services and securities offerings.
The FinCEN clearly states that the inclusion of a business on its website is not a certification of legitimacy.
You see, anybody can register with the FinCEN, you fill in a form online and that’s it. The FinCEN won’t check if you are a real business that is authorized to provide the services you provide.
COTP is an unauthorized and illegal investment service.
Fake office, fake history
The official registered address of Cryptos OTC Trading Platform is 6547 N Academy Blvd, Colorado Springs, Colorado, USA. It is where the office of this company that supposedly employs more than 100 people should be.
But when you check the address, you will see that it is a rented mailbox.
Also, COTPS claims that it officially launched its platform in 2019 and that one year later, in 2020, it already had more than 100,000 registered users.
But that is an obvious lie. Because the Cryptos OTC Trading Platform as a company was registered in October 2021 and the cotps.net domain was also registered in October 2021. See our picture below for a proof.
There is also the domain name cotps.com that is older, but in the past it was owned by some other business and Cryptos OTC Trading Platform acquired it some time at the end of 2021. Here you can see that in June 2021 the domain was still for sale.
To sum this up, COTPS is lying about its history, it did not launch in 2019, it did not have more than 100,000 registered users in 2020, because it launched only in October 2021.
COTPS is trying to make you believe that it is a big institutional player in cryptocurrency trading. On its official website it shows you logos of renowned institutions Signature Bank, Dukascopy and Swissquote and suggests they are partners for crypto liquidity.
We reached out to all three and asked them about any partnership with Cryptos OTC Trading Platform. Unfortunately only Dukascopy replied, but the answer is well worth it.
Because Dukascopy confirmed that they don’t have any relationship with COTPS whatsoever. It means that Cryptos OTC Trading Platform has no right to use the Dukascopy logo on their website like they do.
And the returns…
Frankly, we understood that COTP is a scam within just a few minutes after discovering it. How is that possible? Simply because the daily returns promised by this platform are something impossible for a legit investment/trading program.
Up to 3.6% daily means more than 100% per month. Yes, it is possible to have a lucky month in crypto trading and double your money. But you certainly won’t be able to do that every month.
Even less consistency is possible on a daily basis. Yet we see people showing that they consistently make around 3% daily with COTPS. Which is ridiculous.
So how is that possible, could COTPS be even paying?
COTP Safe Miner – desperate fraud
As predicted, COTP collapsed and stopped paying. It was a Ponzi scheme and as such it could not end in any other way.
However, immediately after its collapse a desperate attempt to steal more money from the victims emerged, it is called COTP Safe Miner.
COTP Safe Miner does not even have a proper website with a presentation that would use lies to make you believe that it is generating profits in trading or any other legit activity.
Instead, it just wants you to connect your cryptocurrency wallet and deposit USDT. While it promises the same ridiculous rewards as the original scam, 3.3% daily.
Don’t fall for it, COTP Safe Miner is just another scam that is aimed at COTP victims. It is a new Ponzi scheme that is automated in the blockchain, which makes sure that it is going to collapse rather quickly. You have to stay away from it.
How COTPS really works
COTPS is a scam, there is no doubt about it. However, it might be currently paying its members thanks to being a Ponzi scheme.
A Ponzi scheme just takes money from new members and gives it to older members. No real trading or investing is going on behind the scenes, just an illegal pyramid game.
So don’t be fooled, if you are getting paid by COTP, it still is a scam that will collapse. It is only a matter of time. Another example of the same fake arbitrage scam is Swapnex.
COTPS review – Conclusion
COTP(S) – The Cryptos OTC Trading Platform is an illegal investment service and a scam. You have to stay away from it!
For crypto trading we recommend staying with regulated companies. You can try them on a free demo and virtual money.
Before investing real money you have to be sure that you understand the risks and that you have a sound strategy, including money management.