There are many sites out there that promise investors there is a lot of money to be made if they simply sign up and make a deposit that is commensurate with an investment plan. One of such sites is Wenovus and in this post, we are going to look at what it is all about so that you make the right investment decisions regarding it.
What is Wenovus?
The Novus platform is a site that claims it is involved in finance, FOREX and technology. It claims being backed by professionals in these fields and has the objective of helping its members to meet their financial obligations.
Insomuch that it is possible to have altruistic intent, we are aware that most of the platforms that do that in terms of helping ‘members’ are charity. Rarely do businesses do that since their objectives are mainly to make profit.
Interestingly, the site claims that its business is “established in over 100 countries” even though it did not clarify what it meant by “establishment”. This is even weird considering the fact that the site was set up in 2019. A Whois search shows that the domain that points at Wenovus was registered on May 24, 2019.
This makes it doubtful that such business could have physical presence in 100 countries. We therefore assumed that this is just an exaggeration. Nevertheless, there are other issues that should be of concern to any potential ‘member’ of this site.
No Sign of Ownership
The site claimed that the team behind it has more than 20 years combined experience in technology, forex and finance, but there is no evidence to buttress that. It is rather curious that a company that lays claim to professionalism could not present information that is verifiable to that effect.
This leaves a lot to be desired since we have seen so many scams pulled by anonymous teams in the crypto ecosystem. This is why there is an unwritten consensus that the days of anonymous teams are long gone as far as crypto investment sites are concerned.
This means that investing in a site such as Wenovus is fraught with risks since the owners are not known. There is no guarantee that your funds won’t grow wings and if that happens, you’re on your own. Obviously, you’d have no one to hold responsible. You should consider this warning from the Securities and Exchange Commission (SEC):
“Spend some time checking out the person touting the investment before you invest – even if you already know the person socially. Always find out whether the securities salespeople who contact you are licensed to sell securities in your state and whether they or their firms have had run-ins with regulators or other investors.”
We are aware that the crypto space is still a grey area. This means that the line between what is legal and what is not is still undefined. However, this is the very reason why cybercriminals are taking advantage of the industry to steal from people in the guise of investment sites. We can rightly say that the line between what is legal and what is criminal is clear since theft and cheating will always be criminal.
No Company Registration
It is hard to really consider Wenovus a company considering that there is no evidence that it is a recognized legal entity registered in any country. If it is, it did not present evidence to prove that. It is a simple matter for an entity to set up a site and lay unsubstantiated claims.
As far as we are concerned, it is possible that an individual is the brain behind the Wenovus site. So sending your funds to the site thinking that you’re dealing with a company or a legitimate business is misplaced trust.
No Company Address
If there is a company behind Wenovus, they didn’t want people to know it. Neither do they want the identity of the owners known. The fact that the company profile and address was not displayed on the site should make any savvy investor skeptical about it.
Nevertheless, we are aware that there are many investors that are not aware of the red signs associated with scams and so fall for schemes such as this. The reality is that such investors are the targets of fraudulent crypto investment sites.
Wenovus is a typical HYIP. High yield investment program is a scam that lures in investors with promise of high but unrealistic returns. The operators of such scams are aware that greed is a basic human trait, so they leverage on it by using promises of overnight wealth as bait to entrap people.
A close look at the Wenovus site shows that the owners promise to double the investment of investors in a year even though they could not establish that they’re a genuine business operating anywhere.
Why should you believe that a stranger behind the web would double your money even though they did not make effort to reveal their identity? If they have the skill to double or triple their money, I assure you that they won’t share the profit with you.
If it seems too good to be true, it probably isn’t true. A site with unknown operators cannot be trusted with people’s funds. If they’re trustworthy, they would come clean by revealing their true identity and operate a legitimate business instead of a shady one asking people to make investment deposits.
There are genuine investment sites that you should consider if you’re thinking of growing your assets. My favorite is a legitimate investment site that enables you copy professional traders and get exactly the same result as they.