Hoggpool Review: Scam Or Legit? | Recover Lost Funds
Hoggpool might be a scam. Beware.
Hoggpool has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Safir.com. We’ve received over 4 complaints against Hoggpool.
The Hoggpool cryptocurrency fraud in Egypt attracted investors with high-yielding promises. Despite its seeming validity, it failed, plunging victims into financial ruin. Authorities apprehended 29 defendants, revealing a complicated fraud scheme. However, in the absence of legislation, victims are left without a remedy. To prevent falling victim to similar scams in the uncontrolled crypto market, exercise caution.
Key Takeaways
Is Hoggpool Regulated? Do They Have a License?
The attraction of immediate rewards sometimes overpowers rational judgment in the fast-paced world of cryptocurrency investments.
One such occurrence occurred in Egypt with the introduction of Hoggpool, a claimed Bitcoin mining program that promised high returns. But what appeared to be an attractive offer turned out to be a fraudulent business, causing financial hardship and distrust among some investors.
Egypt’s authorities acted promptly, apprehending 29 of the scheme’s participants. The discovery of phones, SIM cards, and substantial sums of money exposed the complex structure of the crime.
Despite the arrests, estimates imply a stunning number of victims and significant monetary losses, emphasizing the scale of the scam.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Hoggpool 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 Hoggpool, 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 Hoggpool
Hoggpool enticed potential investors with investment plans starting at $10 and promising fixed daily earnings of up to $55.
The portal permitted withdrawals either daily with a tax deduction or at the end of the month without taxes on returns, lending an air of legitimacy to their operations.
The scam attracted investors with exaggerated claims of exponential profits, prompting some to invest large quantities of money, which were frequently borrowed or were vital to their financial security.
For many, the offer of multiplying previous assets by five in only five days was too attractive to pass up, amplifying the extent of losses when the scheme failed.
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.
Hoggpool Customer Service: Do They Handle Complaints Well?
Following Hoggpool’s demise, there was an inflow of complaints from disappointed investors. Many consumers, tempted by the promise of daily rewards and seemingly genuine investment programs, quickly discovered that they were unable to withdraw funds, raising red flags that all was not as it seemed.
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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Hoggpool Reviews: What Do Others Say?
Victims’ testimonies flooded social media sites, revealing the broad damage caused by Hoggpool’s deceptive activities. Financial disasters, missing payments, and increasing debts offered a vivid image of the aftermath, highlighting the disastrous repercussions suffered by trusting investors.
The regulatory structure in Egypt, which restricts bitcoin trading, complicated matters and discouraged some victims.
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 Hoggpool 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 Hoggpool 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 Hoggpool, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Hoggpool enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Hoggpool reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Hoggpool.
You should always look out for consumer complaints. In the case of Hoggpool, 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 Hoggpool? You can share your complaint in the comment section or submit an anonymous tip.
Is Hoggpool Legit Or Scam?
Those who have fallen victim to this scam must take action. If you have lost money as a result of Hoggpool’s deceptive actions, we recommend you contact the appropriate authorities or legal institutions to investigate potential possibilities for reimbursement.
The Hoggpool fraud serves as a sobering reminder of the significance of conducting due investigation and exercising skepticism when offered investment options, especially in the ever-changing cryptocurrency market.
Hoggpool 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 Hoggpool 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 Hoggpool?
All the evidence suggests that Hoggpool 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 Hoggpool a scam?
Can I withdraw money from Hoggpool?
Where is Hoggpool Located?
How do I get my money back from Hoggpool?
How The Hoggpool Online Scam Works
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Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
