UK police have issued a stark warning against the cryptocurrency platform Coscoin, which is embroiled in a £215k scam. This alert follows numerous reports of fraudulent activities connected to the platform, which promised high investment returns.
Rising Concerns Among Investors
The recent BBC report shed light on Coscoin’s operations, which claimed to utilize advanced AI for quantitative trading. Despite its enticing promises to double investments, the platform has been under scrutiny due to a pattern of complaints across the UK. Investors have faced challenges retrieving or accessing their funds since late November, leading to widespread concern.
A particularly troubling case in northeast England was where 78 individuals reported combined losses of approximately £214,869. This average loss of around £2,900 per person has prompted the North East Regional Organised Crime Unit to act. The unit’s analysis suggests that Coscoin, believed to be based in Washington, USA, exhibits char
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