COS app has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Capitalvest Pro. We’ve received over 4 complaints against COS app.
COS app, alleged to be a scam, is unregulated, making it a risky investment. Affiliates invest in Tether expecting profits, but scammers frequently stop payment routes. Fake reviews improve credibility while disguising customer problems. Unregulated businesses, such as COS, can vanish with funds, leaving victims with no recourse. Caution is urged, and potential investors should investigate the regulatory status, leadership transparency, and consumer complaints before engaging. Such scams frequently launch websites with generic names, promote influencers, and use aggressive outreach. Be vigilant and report any suspicious actions.
Get Your Money Back From These Scammers!
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Key Takeaways
Is COS app Regulated? Do They Have a License?
COS, also known as Cosetek and CosCoin, has raised concerns about its official website’s lack of openness about ownership and executive data. This coincides with a prospective shift in ownership or management. A closer look at COS’ internet support page indicates that it uses Baidu’s Meiqia software. Meiqia, a Chinese software startup situated in Beijing, suggests a link between COS and China via its software infrastructure.
The lack of regulation or the presence of poor regulation is a huge red flag. It means COS app 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 COS app, 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 COS app
COS, which has any retailable items or services, relies primarily on affiliates to market its membership. The compensation plan has affiliates investing in Tether with promised profits based on various VIP tiers:
- VIP1: Invest 30 to 500 USDT and receive 0.57% to 0.7% daily.
- VIP2: Invest 500 to 3000 USDT, recruit five affiliates, and receive 0.56% to 0.66% daily.
- VIP3: Invest 3000 to 10,000 USDT, enroll ten affiliates, and earn 0.53% to 0.63% daily.
- VIP4: Invest 10,000 to 50,000 USDT, enroll 20 affiliates, and earn 0.54% to 0.61% daily.
- VIP5: Invest 30,000 to 999,999 USDT, acquire 30 affiliates, and earn 0.53% to 0.6% daily.
- VIP6: Invest 50,000 to 999,999 USDT, acquire 40 affiliates, and earn 0.53% to 0.58% daily.
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.
COS app 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.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
COS app 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 COS app 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 COS app 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 COS app, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like COS app enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “COS app reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising COS app.
You should always look out for consumer complaints. In the case of COS app, 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 COS app? You can share your complaint in the comment section or submit an anonymous tip.
Is COS app Legit Or Scam?
COS app 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 COS app 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 COS app?
All the evidence suggests that COS app 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 COS app a scam?
Can I withdraw money from COS app?
Where is COS app Located?
How do I get my money back from COS app?
How The COS app 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. 
