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L7 Trade an Illegal Crypto Scam Exposed

L7 Trade an Illegal Crypto Scam Exposed

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The L7 Trade claims to be located in Ukraine. The founder of the site goes by the name Alfred Victor Brewster. There is no information rather than just his name, which sounds like a fake one.

L7 trade platform has collapsed. There has been news that the platform cannot be accessed; users’ funds have been stolen. There was a tweet from @IncLtrade assuring investors that their funds are safe, and the platform will be restored.

The platform claims to be a top-notch currency’ interbourse exchange’. The Company promises investors a trade without risk.

The Company declared to seize its operations for 15 days to upgrade their platform and move to a more secure location. Anywhere in the universe is at a threat of being hacked unless high-quality security measures are taken.

This review is an update on the L7 Trade Company. They might come back with a different name or a new tactic. The Company is well known to be super creative when it comes to deceiving investors. We have also compiled a list of verified cryptocurrency and mining investment services for you.

L7 Trade Review

The website of L7 claims to be uniquely designed; it is powerfully implemented with an internal exchanger. The Company is known as a stock exchange. The L7 Trade investment is popular due to their robust marketing strategy,’

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The Company uses promotional videos and utilizes content by being featured by bloggers with a large audience. The more, the merrier. This is why the L7 Trade have been able to scam so many people. We have exposed the fraudulent activities of this platform.

More investors have contributed to the numerous active deposits. The developer of this site did an excellent job. Information is available, and charts are used to show analysis. The site claims to offer clients an opportunity to trade with digital currency and earn huge returns.

 

The platform independently performs the act of analyzing the market and finding exchanges with lower and higher currency rates. The rate variance is where the investors’ profit comes from.

L7 Trader Review, L7 Trade Website

The L7 Trade can trade using two methods; manual or automatic model. If you perform the transaction manually, then all the profit belongs to you. But, if you use the automated platform system, you are obliged to pay 10% of each transaction.

The returns of investors depend on the effort they put. Users can make a return of 4% daily and withdraw at any time. Some claim to have made 50% returns.

The L7 Trader used a smart tactic to scam investors. It bought their trust and disappeared when they least expected.

L7 Trade domain

There are two domains named that can be linked with L7 Trade. The first domain name l7.trade was registered in February 2019 through NameCheap to operate for 10 years. Most of the website traffic is generated from Russia, Venezuela, and Brazil.

The contact of the Company that registered the domain is situated in Seychelles and goes under the name L7Trade Inc. The site is a Ponzi scheme that has grown popular. L7 Trade has a rank of 16,501 from SimilarWeb.

The second domain name is L7trade.company, which was also registered under NameCheap Inc. It will expire in two years. Traffic received from it comes from the UK, Belarus, Kazakhstan, Russia, Brazil, and Venezuela. The domain is currently offline. L7 Trade has around 4 million people visiting the site.

In September 2019, the platform twitted using the handle @IncL7trade. Their Cloudflake protection had been compromised. The platform claimed to be hit by hackers. They also claimed that their social media platforms were deleted.

The Platform Hacked claims

What surprisingly is the site letting their users know they have been hacked and later claims they have transferred all the money to a secure server. They guaranteed that the site would be back online in a few days. Up to now, they have not resumed their operations.

The site tries to play the hero and is warning their former clients of some scammers that are using their name company name to contact them.

The alleged scammers are asking for a 7% fee to return the investors lost fund. The supposed scammers claim to be the L7 Company’s employees.

The thing is that L7 Trade are the only people who have the data of their investors. They want to steal every cents left in the investors pocket without any remorse.

The L7 Trade Ponzi scheme seems not to get enough, and they keep coming. Still, in September, they twitted that they have changed their email address due to a lack of access to their old ones. The temporary email for L7 Trade is [email protected]

The Company also claims that they set bait for the other scammers to return the fund, and after paying the named percentage, some amount was returned. They stress that they are not behind this.

Even if L7 Trade changes their location still they will claim to be compromised again. They are just making excuses. The Pyramid scheme has assured all the investors that their money has been moved to a secure vault.

The Returns of The Ponzi Scheme

The accepted currencies in the platform are; Bitcoin, Ethereum, Ripple, Stella, Litecoin, DASH, Bitcoin Gold, ZEC, Bitcoin SV, and Bitcoin Cash.

The minimal amount that you can deposit in the site when verified is $200, which is equivalent to 0.02 BTC. Without verification, the least amount you can deposit is 0.1 BTC. The commission of the platform for automatic trading is 10% and 0.5% exchange commission.

L7 Trade Scam Review, L7 Trade net

The minimal withdrawals that members can cash out depending on the currency. For BTC its 0.002, 0.1 LTC, 0.1 ETH, 0.1 DASH, and 20 XPR.

The withdrawal process can be performed manually, and the process can take a few hours or several days to be accomplished.

The L7 Trade has an affiliate program that promises users a 21% profit if you refer someone to join. The whole L7 trade plan is a scam, and no company will ever offer you such commissions  in reality.

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Is L7 Trade Safe?

All the factors involved in the platform shows that it is a scam. Ponzi scheme reaches a point where they can no longer sustain the market. If there is no money coming in, and no investors are buying their story, the platform will exit the market.

We strongly feel this is what happened with L7 Trade. The platform is probably behind the 7% return commission. which would be a win win situation for them. It ha stolen a huge amount from their investors.

At the same time, they will gain trust from investors. Some investors will be cautious and give up the process of getting their money back. In this case, the L7 scam Trades will keep all the money for themselves.

On the other hand, the platform would be experiencing the hack. Platform hacking is common, but Cloudflare is a secure server that can block the attempt of hacking.

The Company did not come back into operation as it had promised. Investors are complaining of being conned.

L7 Trade took money from investors in the name of making them rich. Investors’ withdrawal attempts were not successful, and the investment company became inactive.

The Final Verdict

L7 Trade is a Ponzi scheme investment. The Company paid its clients in the initial stage to buy the trust of the public. The Company is illegal and has not been verified by any regulatory authority. It claimed that its three servers were attacked.

New investors’ money is used to pay initial members’ withdrawal. Greed keeps many investors on the platform as they wait for their funds to mature. Make a realistic profit using the following mining investment services.

The Alexas ranking shows the platform had been stagnant for some time. Finally, there was no money coming on the platform.  The founder exited the market with a large number of investors’ funds.

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