There are millions of sites that have come and gone. Many others are being set up with the purpose of tricking some investors to steal their money. Such is Uxmon, a high yield investment site that promises that the investor could earn up to 2500%.
The reason scam sites succeed is they’re aware that there are many users who believe everything that they read online. What these people do not know is that anyone could present anything they want, the way they want it on a website.
Also, there are many users who never investigate the information that they see online, so they easily fall prey to the wiles of fraudsters such as those behind Uxmon.
What is Uxmon?
This is a scam investment site that claims that the user who invests in their program would reap quick profit. There are several investment plans that are realistically impossible to attain for any business.
The available investment plans for this scheme are:
9% Daily for 30 days
17% Daily for 30 days
550% after 25 days
2500% after 25 days
How Does The Company Make Money?
What is obvious is that there are no investments capable of yielding such returns. This is despite the claims on the website that you should:
“put your money to work in, cryptocurrency trading, mining and arbitration, Forex trading, stocks, bonds, ETFs and mutual funds. We’ll use all of them here to generate a stable income for you.
We offer expertise that no other financial investor could provide: combining unique perspectives from entrepreneurship, strategy consulting, Private Equity and Venture Capital in a global context….”
That statement as inciting as it may be, is a common line used by scam sites. For starters, there is no legitimate business that would offer such ROI.
Using activities such as ETF, FOREX, trading and others is meant to lure the uninformed investor to send money to the fraudster behind the site.
Who is the Owner of Uxmon?
A Whois search shows that the domain was registered in 2015, but its Whois update was in September 2020. What does this piece of information imply?
The original registration most probably expired, the present owner took over the domain a month ago but wants to create the impression that they have been in business since 2015, whereas they’ve been online with the Uxmon scheme for just a month.
Online reputation matters to everyone, even fraudsters operating on the internet.
Interestingly, the owner’s identity was not listed. A Company House search shows that the company behind the site is Uxmon Limited. It was registered August 31, 2020. No officers or owners were listed. That should raise a red flag. Why would you send your money to some faceless individuals just because they could set up a website and claim they could help you make money?
High Yield Scams
According to the Securities and Exchange Commission (SEC), sites that claim they would pay high returns are sure to be managed by fraudsters.
According to the SEC,
“These websites often contain “red flags” of fraud including claims of high guaranteed returns and promises that the investments carry little or even no risk.
SEC and CFTC staff have recently observed investment scams where fraudsters tout digital assets or “cryptocurrency” advisory and trading businesses. In some cases, the fraudsters claim to invest customers’ funds in proprietary crypto trading systems or in “mining” farms. The fraudsters promise high guaranteed returns (for example, 20-50%) with little or no risk”.
This is exactly what Uxmon is doing: create the impression that there is a lot of profit to be made by investing in the site. When any investors send funds, such money is lost.
General Features of Scams
The basis features to look out in identifying scam investment programs are:
- Low quality information on website.
- Similitude to a Ponzi or pyramid scheme.
- Promises of high ROI
- Concealing the identity of owner
Images of latest investments and withdrawals are meant to deceive the gullible that there is demand for the nonsense.
The reason we put up these reviews is to show you that you’re about making a big mistake by investing in fraudulent sites. We also want to direct you to genuine investment sites where you could make profit by taking advantage of the copy trading feature. This practically gives you the same result as the expert trader you copy. Is there a better way of growing your assets? That sure beats giving your money to fraudsters.