There are thousands of scams out there and some can be very well disguised. That being said, with the right knowledge and a little bit of research, scams can be easy to uncover – meaning no more losing money to cons. One of the most recent scams out there is called GlowCryptos. On paper, it sounds like it’s trying to be the next Westland Storage – just without the same level of effort. You’re likely to see GlowCryptos pop up over the next few months, as it’s just starting to take off, so make sure you avoid it like the plague.
The Smell of a Scam
If you have never been scammed in the crypto space, don’t let GlowCryptos be your first. As soon as you land on the website, you should have alarm bells ringing. The lack of effort that has gone into the styling of the website, the poor spelling and grammar, and the choice of wording all screams “SCAM” – so steer clear. To quote the guy in the video that autoplays on the website
GlowCryptos is an online investment that is here to change a lot of people’s lives and also increase some of the people’s wealth.
You can read between the lines, the video is even gloating about the fact it’s a scam. GlowCryptos will change a lot of people’s lives in the sense that thousands of people could lose a lot of money and it will “increase some of the people’s wealth” – that’s the scammers behind the project, by the way.
Security isn’t What it Seems
GlowCryptos is proud of the fact it has an EVSSL, however it actually only has a regular SSL certificate. SSL certificates are very easy and cheap to acquire, so it only set GlowCryptos back a little less than $9. If a company is proud of its $9 SSL certificate, then it has some pretty big issues that it needs to address. This SSL certificate is the lowest of the low when it comes to security features and should be standard on any website. There is no indication on whether the site is PCI DSS (Payment Card Industry Data Security Standard) compliant, meaning there is a good chance any stored credit card details could be stolen.
Fake Registration Documents
GlowCryptos is also very proud of the fact that it’s a registered UK company. Now, to register a company in the UK, it costs a little less than £100 and takes around a day to do – so take this very lightly. Secondly, the incorporation document never loads and the registration number given on the website – 10993318 – matches a company called PAYVIC Limited. PAYVIC Limited was dissolved back on March 26 2019 and only had one name attached to it – sole Director, Shawn Diaz.
The Lies Continue…
We did a lot more digging, finding that the Telegram support just keep on shoveling the lies. When asked about if profits being guaranteed, support replied with a rather bold: “They are guaranteed.” This is a huge no-no in the investment world, and it’s something that will earn the founders a rather hefty fine. If that wasn’t enough, support repeatedly tried to peddle excuses about false profiles and new company registration numbers.
As mentioned earlier, the website talks about having the company registration number of 10993318, while customer support gives the company registration number of 04269713 – yet another company with no mention of GlowCryptos. In fact, this new number links to a company in the liquidation process. It appears as if GlowCryptos is preying on companies that are falling apart in hopes that smart investors don’t contact the real company in question.
The Big, Bad Promise
Investment returns are rather quick when it comes to GlowCryptos – most likely because it’s a scam. However, when you’re an investment platform, there is one golden rule and it involves not using a certain phrase. Yes, you guessed it, GlowCryptos has said that its profits are guaranteed. Breaking this one golden rule cements any project in the world of scams. If we’re going to compare GlowCryptos to another project out there, it’s similar to Westland Storage – minus actually owning any property.
Fake Names Galore
The more digging you do, the more worrying GlowCryptos exploits become. Both registered companies give different names of sole directors. Yet, GlowCryptos’ support claims that Jagsgill Julian is the human behind the project. GlowCryptos believes that Julian has a LinkedIn profile with him posing on his Ferrari, but we could only find a blank profile with minimal details – no Ferrari picture, unfortunately.
The Final Verdict on GlowCryptos!
It’s pretty clear to see that GlowCryptos is in fact a scam, and anyone who signs up and falls for this scam should probably avoid the crypto world altogether. It’s the most blatant scam we have seen in some time – and that’s really saying something. Watch out for being added to a Telegram group randomly, as “admins” are scraping users from other groups and adding them to the GlowCryptos site. If you do manage to make any money from this scam come Ponzi scheme, the chances are any profits will be short-lived. You’re best off sticking your crypto into a reputable fund or project – not this scam.