Cash Factory has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to WasixCap. We’ve received over 3 complaints against Cash Factory.
Cash Factory’s ownership is unclear, with its domain surreptitiously registered in January 2024 and Thorstein Feit listed as its manager. There are no real products or services offered, only affiliate memberships. Its investing approach offers unreasonable returns, indicating a Ponzi scheme. It operates without regulatory monitoring, posing a huge risk and leaving victims without recourse. The scheme’s reliance on affiliate recruitment renders it unsustainable and likely illegal. Before making an investment, always check a company’s regulatory status and ownership transparency.
Get Your Money Back From These Scammers!
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Key Takeaways
Is Cash Factory Regulated? Do They Have a License?
On its main website, Cash Factory doesn’t make it clear who owns the company or who runs it. The domain name for Cash Factory, “cash-factory.me,” was secretly registered on January 30, 2024.
This makes it even harder to figure out who is running the business. Also, Thorstein Feit is listed as Cash Factory’s manager in the company’s official Telegram group, which was set up on March 11.
Although this is the case, Thorsten Feit’s identity is still unknown. He is said to be German and currently lives in Spain. There isn’t any clear information about the people who run Cash Factory, which makes people wonder about its legitimacy and dependability.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Cash Factory is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Cash Factory victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at Cash Factory
One important part of Cash Factory’s business is that it doesn’t sell any goods or services. The company only sells its partner membership; it doesn’t have any real goods or services for people outside the company. This focus on affiliate membership over actual products is a red flag that could mean the business plan isn’t sustainable.
Pay Plan
Affiliates of Cash Factory are paid by investing in cryptocurrency with the promise of high profits in a short amount of time. From $7, which gives you a return of $9.10 in two days, to $1000, which gives you a return of $1800 in thirteen days…. The company also gives referral fees at three levels, which encourages the hiring of new affiliates more than the sales of goods or services. Concerns have been raised about the long-term viability of the compensation plan because of this structure.
Requirements to Enter
Affiliates can join Cash Factory for free, but to fully take advantage of the money-making chance, they need to invest at least $75. The fact that the company takes investments in different cryptocurrencies makes deals even less clear.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
Cash Factory Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
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Cash Factory Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like Cash Factory tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust Cash Factory reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Cash Factory, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Cash Factory enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Cash Factory reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Cash Factory.
You should always look out for consumer complaints. In the case of Cash Factory, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Cash Factory? You can share your complaint in the comment section or submit an anonymous tip.
Is Cash Factory Legit Or Scam?
Cash Factory advertises itself as being created by AI and says that combining technology in this way makes a lot of money. The lack of information about how AI helps the business, along with the unrealistic promise of high returns, however, make Cash Factory a Ponzi scam. Because they depend on constantly adding new members to make money, these kinds of schemes can’t last.
In the end, this causes a breakdown, which means that most of the people involved lose money. Potential investors should be careful and think carefully about whether Cash Factory’s business is legal and able to run before investing any money.
Cash Factory is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Cash Factory can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Cash Factory?
All the evidence suggests that Cash Factory is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
Is Cash Factory a scam?
Can I withdraw money from Cash Factory?
Where is Cash Factory Located?
How do I get my money back from Cash Factory?
How The Cash Factory Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
