We can confirm that this is a scam.
I came across Fly9ns after a reader of our blog commented on another review, asking us to check up this site for possible investment.
I understood immediately that we may be dealing with another popular investment site, since some of these with experienced people behind then know how to get the words out about their offers.
We are aware that many investors are eager to invest in the cryptocurrency space, but are hampered by the reports of the many scams going on in this space. Many doubt the reality of crypto wealth, but the fact that fraudsters are following cryptocurrencies is an indication that there is money to be made.
However, to earn in this industry, it is of utmost importance that you learn how to safeguard your investments. The first step is to avoid scams and all appearances of scams. Then make sure that you place the bulk of your coins in a cold wallet.
By 2015, it was estimated that a total of 5 million dollars was lost to cyber scammers. This alarming figure keeps increasing annually. Despite the relentless efforts of many government agencies to reduce the widespread occurrence of this crime, the perpetrators do not relent in their quest for innovative ways to steal from unsuspecting investors.
What is Fly9ns?
The information available on the website claims that this is a forex trading platform that is based in the UK. The operators are supposedly professionals that have been trading the markets and now want to help investors by connecting them to the expert platform where they can profit from the experience of the managers.
A close scrutiny of the site shows that even though it claims that it has been registered by the authorities in the UK, it provided no evidence to buttress that. Furthermore, there has been an attempt on the site to convince the users that it is safe to invest. These are the earliest signs that this is a fraud.
The Quest for Investor Trust
From the web copy, words such as smartness, loyalty, dedication and trust were used again and again in a bid to gain the trust of the users. According to the Securities and Exchange Commission (SEC), fraudsters work hard at gaining the trust of potential victims of fraud. Beware!
One of the most recent methods employed by these faceless cyber criminals is exploit the current popularity of cryptocurrency to their own dreadful advantage.
Unrealistic Returns On Investment
Fly9ns promises huge ROI, despite the fact that crypto and forex trading never are guaranteed to consistently make profits irrespective of the experience of the trader.
Ridiculously high returns from any site is an indication that you are dealing with an investment scam website. The basic plan promises 200% profit on a tenure of 125 days for $25-1000$ investment. This is impossible to accomplish irrespective of their means of trading.
What we inferred from this plan and others is that the fraudsters behind them made the investment long-term to have room for excuse and exit before full tenure of the plans.
Furthermore, the site would have generated enough traffic and funds for them in 4 months. At that point, complaints would no longer be a bother to them.
Who is Behind the Site?
From our antecedence with fraud sites, what is obvious is that the owner of this site is an experienced fraudster who has made every effort not to leave any trail that could lead to being identified.
Nevertheless, irrespective of the efforts of scammers, they really cannot help making some slips. For instance, the owner of this site did not upload any registration certificate, even though they claimed this is a company registered in the UK. They gave the supposed identity of the CEO as Stephen Leow.
Interestingly, despite providing his photo and name, there is no place that such ID exists online. This is a clear indication that this is a fictitious ID. What is the probability that a CEO of a company would have no professional profile anywhere?
False Business Location
On LinkedIn, the company was traced to a location at Hydrabad, India where it was linked to a scam crypto mining website, ethcoinmining.com. A search of this site shows that it has been taken down apparently another exit scam.
On Fly9ns, the company stated that it is located somewhere in London, specifically at 81 Baker Street, Marylebone, London W1U 6RQ, United Kingdom. Even though this is a business area, there is no independent confirmation that the business is actually located there.
Interestingly, the company provided a phone contact which we followed up. Our investigations showed that the number was listed in Israel and not UK. These conflicting information shows that the fraudster may be operating from Israel or there may be more than one individual behind the scam.
False Testimonials…Then A Real One
Even though there are no serious positive back up mentions, a quick Google search on the name of the website would reveal exactly why it is a bad investment option. It has no credible review online, even though on-site, there are several positive testimonies about it.
There is no doubt that the fraudsters wrote their own reviews which they placed on the site. This is why you should discountenance those. However, in a review from an independent site, the user stated:
“Is a fake English company and very tricky like Grossbyte.com!
If you want to lose money, invest here. License for this site UK incorporation is dirt cheap and for the most part unregulated. It is a favorite for scammers looking to incorporate dodgy companies.”
That is a review you can take to the bank.
It is always wise to run a background check on any investment website online to find possible reviews and comments about the website from other people. This clearly shows it is shady and a bad investment option.
Promotions Building Up
On the company’s Facebook page, it is obvious that it is gradually building followers using several strategies such as asking investors that have made withdrawals to make videos of themselves for testimonials. These would no doubt lure in other investors who would believe that this is a profitable business.
Do you wonder why a company asking people to make promotional videos does not have a team member whose ID is verifiable on its website?
Age of Domain
A Whois search shows that the domain was registered on November 8, 2014. Now do you wonder why no one has heard about an investment site that has a 5 years old domain?
The most plausible explanation is that the owners had many domains registered to use down the line or bought low cost expired domain for this scam.
The prices of cryptocurrencies are never stable. This is why they are unpredictable, so any website that promises you stable perpetual income could be a scam site.
Be careful never to invest your funds in any random sites. All guarantees from them are meant to steal your funds.
Due to the unregulated nature of the decentralized ecosystem, only sites that are regulated should be used for investment. This is why we recommend only this site for investors.
What is your opinion about Fly9ns? Please let us know through the comment box below. Also alert us if you come across any cryptocurrency investment site we should investigate.