There are hundreds, potentially thousands, of different cryptocurrency scams currently in circulation, but here at WRS, we’re dedicated to helping our clients recover their lost funds, no matter which scam it is that they have encountered. One that we’re beginning to hear more about is Super Profit 8 - a relatively new scam involving an unregulated trading platform. Let’s take a closer look at Super Profit 8 and what we know about this scam so far.
What Is Super Profit 8?
Super Profit 8 was launched in the United States only last year and looks to offer traders a wide range of assets, such as cryptocurrencies, forex, commodities and stocks. The hugely competitive spreads and very attractive promises of returns meant that it soon generated a large database of traders and investors seeking to gain from the profitability.
However, as with other trading platform scams, all wasn’t as it seemed on the surface of Super Profit 8. There were limited resources available on the platform, and the lack of customer support meant that traders were faced with challenges in terms of resolving issues.
As well as this, Super Profit 8 also operates as an unregulated platform. This has a direct impact on users within the platform, and means that Super Profit 8 don’t adhere to proper industry standards or regulations, putting traders at greater risk of scams and fraud.
What Is The Super Profit 8 Scam?
We’ve heard from an increasing number of clients that they have fallen victim to scams within the Super Profit 8 platform. Following common traits that we see on other trading platforms and crypto scams, users of the Super Profit 8 platform found that, when they deposited funds using cryptocurrency, they were unable to withdraw profits they had made.
Users found that, when they had deposited funds, they initially made huge profits in short spaces of time. This, of course, looked like a huge success but when investors went to withdraw their funds, they found that fees had been applied or the website repeatedly crashed.
Traders also noticed that they had been added into huge Whatsapp groups with other Super Profit 8 traders and that they had been given a ‘dedicated’ account manager. The scammers had been impersonationing a man called Chris Mayo - a capital raising specialist in New York - claiming that he managed the company, when this was all incorrect. Chris Mayo has been confronted about the Super Profit 8 scam numerous times by affected victims, and has had to defend his innocence and non-involvement in the scam.
What To Do If You Have Lost Money Through The Super Profit 8 Scam
If you have lost money through the Super Profit 8 scam, then we urge you to get in touch. Our team will be able to start processes that trace where your lost funds have gone, working to recover them for you. We’re hearing from more and more victims of the Super Profit 8 scam, so you’re not alone. For more information, or to arrange a free consultation with our UK team of solicitors, contact us today.