Scam Alert: LinusCoin Trading Community (linuscoin.co)

A user filed a complaint with the BBB (Better Business Bureau) about losing $1564 after joining a trading community advertised on YouTube, which directed them to a WhatsApp group. The scam involved a so-called “marketmaker plan” where funds were supposedly pumped through an app. The victim’s money was taken from their account, and they were asked to deposit more to retrieve it.

Details:

• Amount Lost: $1564
• Scammer Contact: 1(315) 929-0200
• Scammer Website: https://www.linuscoin.co/
• Scam Type: Cryptocurrency

If you’ve been scammed by LinusCoin or have similar experiences, please share your story to help warn others.

Domain Analysis

The website linuscoin.co, which has recently gained attention for its alleged cryptocurrency trading scam, was registered on March 28, 2024. The domain is under Gandi SAS, a reputable registrar, and is set to expire on March 28, 2025. The website’s name servers are hosted by AWS, indicating a robust infrastructure behind the site, which can often lend an air of legitimacy. Despite this, the registrant’s contact information is heavily redacted for privacy, making it difficult to trace the individuals behind the domain.

Traffic data from Similarweb indicates that linuscoin.co has experienced a significant increase in traffic, up by 325.5% last month, predominantly from direct visits. This sudden spike in traffic could be attributed to the aggressive marketing tactics seen on platforms like YouTube, where the scam was initially advertised. The website’s engagement metrics suggest visitors spent an average of 7 minutes and 44 seconds on the site, with a bounce rate of 20%, indicating that users were actively engaging with the content, possibly falling prey to the scam.

Further scrutiny of the domain’s history and traffic sources reveals a targeted demographic, with most visitors coming from Canada and the United States. This geographic focus aligns with the scam’s use of local area codes in communication, such as the New York-based number 1(315) 929-0200, which is used to contact victims.

Linuscoin.co Review

The website linuscoin.co presents itself as a sophisticated platform for digital asset trading, claiming to offer secure and trusted value network services to millions of users in over 130 countries. The site features a detailed introduction to the Linus Group, which it portrays as a global leader in the blockchain industry with subsidiaries and partner companies in multiple countries, including the U.S., Japan, Gibraltar, and Thailand. The platform boasts a large number of compliance licenses and over 1,300 employees, emphasizing its extensive experience and security measures, including a professional distributed architecture and anti-DDoS attack system.

The platform offers a variety of trading options with significant daily trading volumes across several cryptocurrencies, such as BTC, ETH, and their proprietary coin, LINS. The site highlights its robust security system, global localized professional operation team, and a payout mechanism designed to protect users. It mentions its ambition to create a blockchain ecosystem that integrates technology research, digital asset research, an open platform, own capital investment, and information.

Red Flags

The website provides various ways to contact and follow the Linus Group, listing an email address (info@linuscoins.com) and providing social media icons for Facebook, Twitter, YouTube, Telegram, Medium, Instagram, WeChat, and Weibo (however, the social links all lead to the email address, and not to any social media platforms.) It also features download options for its trading app, which is unavailable on iOS, Android, and Windows, but requires a download.

Despite the professional facade, several red flags indicate that linuscoin.co may be a scam. The sudden spike in web traffic and the aggressive marketing tactics, such as YouTube ads, suggest an attempt to quickly attract a large number of users. The privacy-redacted WHOIS information makes it difficult to verify the authenticity and trace the owners of the domain. Furthermore, using common phrases like “secure and trusted value network services” and “global leader” without verifiable proof or detailed substantiation raises suspicion. The lack of specific compliance licenses or regulatory information also undermines the credibility of their claims.

Additionally, the website’s promotional content includes exaggerated statements about their trading volumes and user protection measures, typical of scam operations aiming to build trust rapidly. The high engagement metrics, with visitors spending an average of 7 minutes and 44 seconds on the site, suggest that users are likely being lured into complex schemes that delay the realization of the scam.

LinusCoin Reviews

The website linuscoin.co has garnered significant attention for its alleged cryptocurrency trading scam. Various sources, including forums, review sites, and scam reporting platforms, highlight numerous concerns about LinusCoin’s legitimacy and operations.

A Reddit thread in r/CryptoMarkets discussed LinusCoin extensively, with users expressing skepticism about the platform. One user noted, “Now – there is NO mention of a LinusCoins exchange..anywhere on the Net (except one press release)!!!” This lack of information and presence outside their site is a significant red flag. Users have also reported issues with withdrawals, stating, “When attempting to withdraw money, victims face numerous hurdles.”

Medium articles and Trustpilot reviews further corroborate these issues. A Medium review titled “Linuscoin.co Review: Unveiling the Scam Behind the Facade” describes the platform as a front for siphoning user money. Trustpilot ratings are dismal, with one review stating, “The platform promises significant profits but is designed to steal your money.”

Scam reporting sites like Scam Detector and ScamAdviser give linuscoin.co some of the lowest trust scores. Scam Detector highlights that the business “could be a scam,” while ScamAdviser points out “several negative indicators.”

User reports across these platforms consistently mention being lured into the scam through social media ads and WhatsApp groups, where they were promised high returns through fabricated metrics and impressive-looking charts. One user on Reddit mentioned, “I’ve made over 15k since the middle of February scamming scammers,” indicating the deceptive nature of the platform.

These reports share common themes, such as the difficulty in withdrawing funds, the platform’s focus on deposits, the use of sophisticated but false trading metrics, and the lack of transparency about its operations and regulatory compliance. This combination of factors strongly indicates that Linuscoin.co is a sophisticated scam designed to exploit cryptocurrency investors.

Bottom Line

Based on the comprehensive information gathered from multiple sources, it is apparent that linuscoin.co exhibits numerous characteristics typical of a sophisticated scam. The platform’s elaborate facade, promising high returns and featuring impressive yet fabricated metrics, aims to lure unsuspecting investors into a false sense of security. Despite the professional presentation and claims of regulatory compliance, the consistent reports of withdrawal issues and the aggressive marketing tactics employed through social media and direct outreach raise significant red flags.

The experiences users share on forums, review sites, and scam reporting platforms paint a troubling picture of a site designed to deceive and defraud its users. The platform’s lack of transparency regarding its operations, combined with the redacted WHOIS information and sudden spikes in web traffic, further erodes its credibility. While some users report temporary success in withdrawing funds, the overarching pattern indicates that these instances are exceptions rather than the rule, likely used to bait more substantial investments from other users.

In light of these findings, it is reasonable to conclude that linuscoin.co operates as a scam. Potential investors should exercise extreme caution and consider the overwhelming evidence of fraudulent activity before engaging with the platform. The deceptive tactics and sophisticated appearance of linuscoin.co serve as a stark reminder of the importance of due diligence and skepticism in online cryptocurrency trading.