Poccoin is a scam crypto exchange which claims to offer crypto trading services but is in fact a fake platform.
We’ve had several people contact us about this site, saying they’ve lost all their investments after being lured in by someone they met on social media.
This is a common tactic of the scammers in what is known as a pig butchering crypto scam.
Investors are convinced to part with their cash, often after converting it to crypto, by a new ‘friend’ and they’ll initially see their investment grow.
However, the problems start when they come to withdraw their funds and find their account blocked.
The scammers then demand large ‘fees’ of various descriptions in order to release the funds, but this money is stolen as well if paid by the victim.
How to spot the Poccoin scam
This scam is relatively easy to spot if you know what to look for. Giveaways include:
- As mentioned, a very new domain name.
- No regulatory or licensing consents or information.
- No details about the team behind the platform.
- No real content of substance about the operation.
- Crude website design with little functionality.
- No social media profiles or genuine contact details.
- Unrealistic claims about partnerships and business figures.
Can I get my money back from the Poccoin scam
Recovering funds from a crypto scam is a difficult process and in many cases is virtually impossible.
However, you should always report what’s happened to the authorities in your country.
There are also private companies that might be able to help which I’ve written about here.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.