UK police warn against Coscoin 'pyramid scheme' after traders lose $215K
UK police have warned investors to avoid Coscoin , a Washington-based AI-oriented Crypto scheme after 78 victims in England reportedly lost £214,869 ($273,600). Coscoin was created in 2015 and claims to be a “leading AI quantitative trading platform.” However, as reported by the BBC, police say the crypto firm appears to be a pyramid scheme that’s incentivizing users to recruit additional investors. The North East Regional Organised Crime Unit reportedly estimates that 78 victims have lost an average of £2,900 each to Coscoin. In a post on X, the unit said, “When it comes to money, it might sound repetitive but, if it sounds too good to be true it probably is.” We’re warning the public after reports of fraud by investing money in a Crypto currency investment platform called # Coscoin . In the #NorthEast, 78 victims have come forward with a total loss of £214,869. pic.twitter.com/qfMJA8QqGY — North East Regional Organised Crime Unit (NEROCU) (@NE_ROCU) January...