As many of us might have already observed, the number of crypto investment ventures that are being released to the public have increased tenfold in the past year. However, it is sad to say but, many of these projects are fraudulent or are based upon MLM structures which eventually implode (leaving investors with huge monetary losses).
Livia coins is one such scammy project that has hit the internet in recent months. The website is poorly designed, and is full of comments/ reviews that claim that this platform actually works (one of the first warning signs to be aware of). While most of the comments look legitimate, it is quite obvious after spending a couple of minutes on the website that the entire project is a big hoax. To start off with, the gravitas of the users who have written the testimonials for Livia coins were found to be stock google images derived from google.
LiviaCoins Concerning Aspects
Low Quality Website Outlay:
The homepage has been created in haste, and it clearly shows. There are spelling mistakes, grammatical errors everywhere (all of these signs point to this project being fake).
No ID checks:
Even though the founders of this company claim to be based within the United States, they say that no ID verifications need to be completed in order to trade bitcoin via the use of their system. This is not only misleading, but also legally not allowed within the US.
Western Union Transfers:
Very rarely do we come across investment ventures that ask us to wire in money through financial mediums such as Western Union. Also, it is important to remember that once such a wire transfer is made, it is almost impossible to trace down the person who has received the payment, as he/she could have done that from any company branch within the United States.
LiviaCoins Buy & Sell Bitcoin With No ID Verifying Red Flags
Fake Address Provided:
One look at the “about us” page tells us that the company has its headquarters located within the USA. However, when we did a quick google search of the provided address, we did not receive a match. This too indicates that this whole setup is fake.
Disregards Regulatory Requirements:
While Livia Coins claims to follow all of the KYC and AML rules and regulations in place within the United States, they also say that up to $100K worth of BTC can be traded on their platform. This is simply not possible within the aforementioned legal framework.
No Team Info:
While companies love to showcase their core dev team and other personnel, Livia Coin does not reveal the identity of even a single person involved with this project. This reeks of a scam to us.
With all of the information we have just presented to you, it is quite obvious that this project is fake, and has been designed to serve as a quick money grab scheme.
Everything from the logo of the company, to their trademark has been copied from other similar ventures, and thus we would advise everyone to stay away from this project.