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ProCap Insurance Review: Find Out Why procap.insure Is a Risky Platform

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ProCap Insurance Review: Find Out Why procap.insure Is a Risky Platform

ProCap Insurance is one of the biggest scam bursts authorities have conducted over the years. Our procap.insure review exposes how it all went downhill for the developers and marketers.

ProCap Insurance Review: Busted by the SEC

Despite touting itself as an already registered platform under the Seychelles Financial Services Authority, it was all a ruse. The reality on the ground was that ProCap Insurance was operating under a shell company purporting to offer investment and insurance services.

The platform has over the years been a target of investigation from authorities all over the world. Thanks to changing names and domains, ProCap Insurance did manage to evade capture for years, up until now.

We are happy to report that the Criminal Investigation and Detection Group in the Philippines did conduct a raid. And it was on Live TV as the marketers were holding a conference in Manilla. It’s all on clip!

Of the 20 caught, 12 were Filipinos, and 8 were foreign nationals. Thanks to the partnership with the SEC, the arrest has now aided hundreds of victims to demand justice from the platform’s creator. Authorities also recover dusted money from the marketers.

The platform was convicted of selling and soliciting securities without a primary or secondary license. It goes to show that ProCap Insurance is widely associated with money-laundering schemes all over the world.

Here’s our candid PROCAP INSURANCE review.

About ProCap Insurance

Chinese and Singapore nationals have close ties to the developer of the platform. And they have remained quiet as to who actually owns the project. Promoters of the platform were sadly the ones caught in the act, not the owner.

What’s funny is that the website procap.insure is still up and running. Meaning there are other victims signing up not knowing the risks associated with the platform. And this is why our procap.insure review hopes to enlighten naïve investors.

It’s sad that none of the victims know who owns the platform as it’s a crypto-laden investment project. Investors get the promise of making high ROI after investing in USDT. There are promises of making daily guaranteed ROI.

Apart from trading derivatives, the platform also offers a unique insurance policy claim scam. Those who buy in the insurance policy get the promise of making a minimum of 35USDT on a daily basis.

The maximum daily guarantee promise made by ProCap Insurance was 2100USDT. Apart from this investment ruse, investors and members alike had an opportunity to earn bonuses and commissions.

Investors would earn bonuses and commissions through affiliate and referral programs. There were five affiliate levels with the highest commission amount being 8%. Also, the platform would match every policy an investor made.

With such bold claims, most investors in Asia signed up hoping to get a piece of the daily guaranteed ROI margins. What most didn’t know is that the store was actually taking advantage of naïve investors.

You had to deposit a larger chunk of the promised daily margin to get started. Members had to deposit a minimum of 1235USDT to start earning 35USDT daily. Investors were looking at the ‘bigger picture’ of a lifetime of ROI.

How ProCap Insurance Works

What ProCap Insurance is offering is gambling insurance, a service rampant in most Asian countries. The problem with such services is there’s no collateral to protect investors from shady service providers.

For instance, no member will get any compensation from the collapsed ProCap Insurance. And this is why authorities in Manilla were unhappy, coupled with lack of regulation on the entire product and service.

These are some of the biggest red flags we’ve seen in the past, and it sheds light on upcoming insurance services. Investors need to be alert on any platform guaranteeing high profit margins within a short lifespan.

ProCap Insurance also made a mistake of not mentioning the acceptable vesting period. Investors would sign up without having a second thought on how the platform would behave. With this aspect, investors didn’t have a clue of when to withdraw funds.

Members would see their account balance rising not knowing when the right time to withdraw was. When some decided to withdraw, the platform would insist the withdrawal time was scheduled in two weeks or 21 days.

After the time elapsed, the platform would insist on investors having to deposit funds to cover the next policy. According to ProCap Insurance, to withdraw funds, you’d have to fund the next level policy.

It meant having to add more USDT to the fund without even withdrawing part of the initial amount. Those who refused to add funds saw their accounts get blocked and their balance frozen for ‘violating terms’ of the platform.

At this point, the platform knew the investor was either in or out of the project. It was the time to rip the bandage off and defraud the investor. The same would happen to other investors despite adding funds.

Scammed by ProCap Insurance

A few investors have already lost funds with the platform with signs authorities are looking to find the real owner. Chances of recovering funds from such platforms are next to zero as the owner has already fled the region.

Insurance scams are everywhere and ProCap Insurance is not the last service offering USDT cover. These policies are used to entice investors with the allure of earning more with cryptocurrency.

That’s why we have to stay away from this and any other platform looking to take advantage of investors. Whoever signs up with ProCap Insurance is only funding the lavish lifestyle of the owner and his/her team.

According to Malaysian authorities, the platform had duped over $6 million from Filipinos. That’s just a tip of the iceberg on how much the platform has duped investors from different Asian countries.

ProCap Insurance used to allow some of the investors to withdraw partial amounts to convince them of the project’s viability. Those who vested 1235USDT would withdraw nearly 350USDT after 10 vesting days.

The project would lure in investors with such antics hoping they would use the referral program to enlist others. What investors didn’t know is that the platform allows partial withdrawals of the initial vested amount.

At the end of the day, the platform still has a larger amount of your USDT in their wallet. Its such antics that led many to believe they were actually withdrawing the listed daily ROI. That was far from the case.

Customer Complaints ProCap Insurance

Customer Complaints proccap.insure

After investors realized they couldn’t withdraw funds from the platform, they turned to authorities. And this is when authorities caught wind of the platform’s next target, in Makati City, Philippines.

Before investing in any project, we recommend doing due diligence. Try and find out what the platform offers to investors. Is the project realistic or viable to you as an investor? Watch out for projects promising high returns in a matter of days.

Is procap.insure legit or a scam?

After the confirmation of arrest by Filipino authorities, its clear ProCap Insurance is a high risk investment project. Please stay away!

Verdict on Pro Cap Insurance

These are projects that don’t have any meaningful investment outcome to investors. We all need to watch out for such antics in the future and hope more of this action from authorities all over. Its high time culprits go behind bars.

You should instead go for viable passive income projects vetted by experts.

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