Avoiding Scams in the Krypto Knights Project
People still believe in free cheese, even though similar situations always end sadly. The brokerage firm Krypto Knights entices clients with fairy-tale promises, but actually intends to deceive everyone who believes in them.
Let’s analyze the situation. Backyard website, terrible lack of license, and aggressive marketing strategy “Crypto Knights” – all signs of fraud that many traders ignore, falling into the trap. Why do people ignore negative reviews and continue to bet on deceit? That’s the question we’ll address in our article.
Information on Counterfeit Krypto Knights
We found some information about the broker only in the terms of use. According to this document, the online platform belongs to the organization Duo Holdings LTD, which, according to their data, is registered at the address: Cnr Old and Church Street, 2290, Roseau, Commonwealth of Dominica.
It is not worth trusting such organizations, as verification of registration in Dominica is impossible, and there is simply no mention of a license on their website. The only notice they provide is a risk warning. They want clients to bear all the losses themselves.
The hidden age of the company is indefinite, but domain research showed that the project appeared on the web in July 2020 (last update of DNS servers). It was at this time that the first complaints about Krypto Knights began to appear.
In the terms of use, you can find strange points:
- Employees can act on behalf of the user,
- Managers can close account access without warning,
- User assumes all risks,
- Broker sets commissions at their discretion.
Only an email address ([email protected]) and a landline phone number with the Bulgaria code (+35 924 96 33 95) are indicated in the contacts, which is a mismatch, as an unlicensed broker cannot provide services in the EU.
Krypto Knights Stocks
The company offers clients a wide range of opportunities:
- Trading using innovative technologies,
- Access to leading exchanges,
- Multitasking trading terminal,
- Daily technical support,
- Various assets (currency pairs, indices, stocks, etc.).
There are 5 types of accounts available on the platform:
- “GREEN”,
- “PREMIUM”,
- “PLATINUM”,
- “EXECUTIVE”,
- “PRESIDENTIAL”.
The minimum deposit amount is 250 euros, although scammers insist on 1000 euros as the starting amount.
Each client has access to an educational center, online support, leverage of 1:400, and current news.
Reviews on Krypto Knights Scams
Although this gang of scammers has recently entered the market, they have already accumulated many negative reviews. Online you can find comments from both English-speaking traders and residents of the CIS. Problems with fund withdrawals and refusals to refund money are typical scenarios.
Several reviews:
Pitfalls in Dealing with Krypto Knights
As soon as a client with a large deposit becomes a member of “Crypto Knights”, scammers attract a consultant who helps increase the deposit to unreal amounts, and then start demanding additional investments. They say that money cannot be withdrawn without this.
If the client refuses to invest more, they block account access and stop answering calls.
Various useful articles:
- How to start earning online,
- How to become a millionaire in a few days,
- List of movies about financial success.
Conclusion
By investing in Krypto Knights, you risk finding yourself in a difficult position from which it will be hard to get out. The company is not licensed, so it is responsible for its actions.
Do not lose money in such dubious projects; it is better to rely on reviews and study the experience of other traders before making investment decisions!
My experience with Crypto Knights Broker was unsatisfactory. The transparency was outlandishly lacking; many hidden costs appeared out of nowhere, shrinking my returns considerably. Their customer service was indifferent and mostly unresponsive. Many times, I found myself stranded with technical hitches and unanswered queries. Even their trading platform was laggy and often crashed at critical trading times. The high spread and commission rates were cherry on top of my distasteful experience. On top of all these troubles, the educational resources they promised were inadequate, providing no substantial help for a beginner like me. I would not recommend Crypto Knights Broker to anyone seeking a reliable and fruitful cryptocurrency broker.