Hotcoin is identified as a potential scam broker as it does not have a valid regulation by any known regulation authority. Hotcoin is thus an anonymous digital crypto exchange which is unregulated.
About the Hotcoin website
The official website of Hotcoin is https://www.hotcoin.com which is active at the time of writing this review. Their it is mentioned that the owner is a firm named Hot Blockchain Technologies Co and was founded in the year 2017. The headquarters country is unknown although the default language when website loads is Chinese.
Is Hotcoin Regulated?
The biggest warning sign is that Hotcoin is an unregulated identity. There is no knowned regulating authority like FCA, CySEC, ASIC, NFA, CONSOB etc. When a financial firm is not regulated by any of these authorities, then your money is not safe with that firm. These regulating authorities force the authorized firms to follow certain safety measures which are crucial for safe investing and trading. Although their Legal Statement says that they are regulated by the regulations of the Republic of Seychelles, this is not true as there is no mention of this firm in the register of FSA of Sychelles.
Negative Hotcoin Reviews
Searching for authentic online broker reviews is the best way to identify the legitimacy of a broker. In the regard, Iotspynet searched for authentic reviews about Hotcoin online and found countless numbers of negative Hotcoin reviews. The reviewers in Trustpilot say that Hotcoin is a total scam exchange and they were scammed by Hotcoin. Although there are some positive reviews as well but they all seem to be fake reviews. Summing up, the available reviews on web point out that Hotcoin Global is a fraud exchange and traders should not invest money in Hotcoin assets.
Hotcoin Reviews on Facebook are totally irrelevant and the reviewers seem to be promoters of their own assets and services. The owners of Hotcoin may not have seen them and looks unmonitored.
Victim of Hotcoin? What should you do?
Cryptocurrencies have opened a lot of opportunities for the scammers because of its decentralization and anonymity. There are thousands of Cryptocurrency scams which are present in the financial market and Hotcoin is one of them. This scam has been in action from a long time and victims have lost a high amount of money in total.
Although most of the scam victims do not know what should do they do in this case as they believe that their money is completely gone. But Iotspynet is a cyber investigation and crypto scam recovery agency which knows how to recover your lost cryptocurrency. We are cyber investigation experts and have served thousands of people who have lost their money in scams. You can throw your trust upon us as we never break the trust of any scam victim which comes to us for recovery.
And the good news is that we offer a Free Recovery Consultation which you can easily avail by filling the complaint form in this post. Your money is your money and any fraudster can’t take it away from you by committing a fraud. So take action and start fighting against the fraud.
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