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OdindeChristiana
Cotps ScamIn This Post, I Exposed COTP, A Scam Project...
~5.8 mins read
Cotps scam
In this post, I exposed COTP, a scam project that is posing as a crypto trading platform.
COTP has been trending because it promises to pay users 100% return on their investments monthly.
Also, it assures customers of a stable revenue using a High-Frequency Trading (HFT) technology.
Sadly, some folks are convinced and are already putting in their money.
Before you join the bandwagon, read this post to understand what COTP is all about.
Post Summary
What Is COTP?
How Does COTP Work?
How Much Can I Earn From COTP?
Why COTP Is A Scam
Conclusion
1. What Is COTP?
COTP a.k.a COTPS is short for Cryptos OTC Trading Platform.
It is an online platform that claims to provide its investors with passive income.
According to a report by TimesNewsWire, Mars Brown founded the platform in November 2021.
The goal is to make digital currency trading more efficient and transparent.
It tries to achieve this by providing relevant services for blockchain enthusiasts around the world.
Such services include over-the-counter (OTC) trading, arbitrage trading, and wallet.
Also, they claim to use artificial intelligence and algorithms to automatically trade digital currencies and yield profits for investors.
Apparently, if you invest in the platform, you will receive a 100% profit in 30 days. Amazing!
Let’s talk more about how the platform works in the next section.
Read on!
2. How Does COTP Work?
Basically, the platform helps users to complete trades and make profits.
It employs artificial intelligence and algorithms to process trade orders automatically.
Also, the system is set to execute orders every two hours.
Thus, 12 trade orders are completed for each user daily.
Additionally, COTP uses High-Frequency Trading (HFT) to make a profit from every trade irrespective of the market trends.
High-frequency trading is a method of trading that uses powerful computer programs to transact a large number of orders in fractions of a second. It uses complex algorithms to analyze multiple markets and execute orders based on market conditions. HFT is also characterized by high turnover rates and order-to-trade ratios.
https://www.investopedia.com/terms/h/high-frequency-trading.asp
This is how it goes down at COTP:
First, you’ll register an account using the link on the official site – cotps-otc.com.
Next, you recharge the account with a minimum of 9 USDT (you will send it to a given wallet address)
Then you set up a trade order. The system takes it up from there and returns your funds + profit after 2 hours.
Now, you will set up another trade. And you’ll do that every 2 hours.
By the end of the day, you should expect to receive a 3.6% profit of the amount you started with.
Moving on, let’s talk about how much you can earn from COTP.
3. How Much Can I Earn From COTP?
Two core ways to earn from this platform are:
a. Regular investment
Here, you just need to deposit some USDT and place trades, the platform will complete the trades for you.
The expected profit here is 3.6% daily or 100% at the end of the month.
Obviously, the more you invest, the higher your returns.
b. Referral
Secondly, you can earn from COTP when you refer people to the platform.
You earn some commission from the profits of your referrals and from their referrals too.
Find more details below:
Why do I think this platform is a scam? Find out in the next section.
4. Why COTP Is A Scam
I have a list of reasons:
a. No proof of trades and unrealistic returns
Let’s start with the obvious – the outrageous ROI promised to investors.
COTP guarantees users a daily profit of 3.6% which is not feasible.
The worse part is that it does not show how this profit is realized.
Just deposit any amount, trades happen without your supervision, and you’ll receive rewards after 2 hours.
Also, it claims that it trades digital currencies but it did mention any particular one neither did it mention any trading pairs nor trading platforms where the trades are performed.
Investors can only deposit and withdraw USDT, whatever happens in between is not relevant.
When you factor in the referral scheme, it looks like old investors are rewarded from new investors’ funds and not necessarily the outcome of any trading.
Again, COTP claims to be the first to efficiently use HFT yet it is not among the top 20 HFT firms.
b. Unknown founder
Secondly, I couldn’t find the owner of the platform anywhere apart from the news site I mentioned earlier.
Moreover, I saw mainly results for a color type when I searched for that name, “Mars Brown”.
When the founder is not known, it’s only a matter of time before the company folds, and investors’ funds are lost without any trace.
c. Possibility of a rug pull
Another red flag is that users are expected to send funds to a given wallet address.
This means that they have to buy USDT from an external platform.
Shouldn’t a trading platform that deals in digital currencies have a variety of options for users to buy from?
Also, users cannot withdraw their funds until the supposed 2 hours trading session is completed.
Who knows? Whenever the ghost founders have enough funds in the wallet, they could just disappear with the funds.
If that happens, users will wait forever to withdraw their funds.
d. Bad reputation
I searched for COTPS on Trustpilot and there was no review of the platform.
So, nobody has benefited enough from this platform to review it online?
Then on SCAMADVISER, the website was identified as suspicious with a 51% trust score.
Moreover, I sent a query to the email provided on the COTP contact page and I never got a reply.
e. Contradicting company information
COTP claims to have provided rewards to its customers since 2019 but its MSB registration shows that the platform was registered in October 2021.
Meanwhile, having an MSB registration number does not make a platform legit, anyone can get that by simply completing a form online.
Initially, it was stated on the website that all digital assets are FDIC insured for up to 250,000 USD per customer.
This is not true because the FDIC insures only regulated companies.
Guess they got the memo and removed it from their site. ????
According to Whois.com, the company was registered in March 2022.
And if you remember, TimesNewsWire reported that the platform launched in November 2021.
Then I searched on Google for the company address displayed on the contact page and I didn’t see COTP there.
Something fishy is goin’ on!
f. Weak community engagement
I found COTP on Twitter (@CotpEx) and it had few followers for a platform claiming to have existed since 2019.
Plus, the Twitter account was created in January 2022. Oops!
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OdindeChristiana
The Reason Why WAEC Result Is Held
~3.3 mins read
We are aware at mytopschools.com that you are searching for Meaning of Waec Held, Witheld and Outstanding Result 2022, why did waec withheld some result, why is my result withheld, when will waec release held result 2022, what to do if result is withheld, can waec cancelled result be released, latest information the release of held result of waec gce, what to do if your waec result is held, how long does it take for waec result to be out then you are not alone.
What does it mean when WAEC held/witheld results? What does it mean to have outstanding in some subjects in WAEC result? What does it mean to be replied by WAEC server with ‘No Result For This Candidate in the specified year‘?
Some candidates were shown one of the tags Italicized above in the course of checking their WAEC Result Online. We have decided to define these terms, so that candidates will be able to know where they fall in and the probability of getting their results released
Meaning of Witheld WAEC Result
Possibility of release: Slim
This occurs when almost all the candidates in a particular centre had same grade. WAEC will further investigate the result. If truly the candidates engaged in any form of malpractice during the exam, such results would be seized and not released. But if reverse is the case, they would be released.
Meaning of held WAEC Result
Possibility of release: Slim
Almost the same thing with witheld. Held result mostly occur when a written remark is made on a candidate answer booklet relating to malpractice and other examination offences.
Meaning of Outstanding in WAEC Result
Possibility of release: Medium
Outstanding in some subject(s) mostly occur when a student is recorded as present in exams, but the mark on the subject(s) are not concluded. It can also be cause by extra answer sheet. i.e. when not properly attached or some other factors.
Meaning of ‘No Result For This Candidate in the specified year‘ in WAEC Result
Possibility of release: Slim
This often happened to candidates that registered with special centres.
If you are not guilty of any examination offences and your result shows any of the tags stated above, there is high possibility of release.
Conclusively, if you/your centre engaged in examination malpractice, don’t fool yourself, WAEC might have caught you. All hope is not lost yet, check the recommendation below:
Reason Why WAEC Results are Withheld
The West African Examination Council says it withholds results due to examination malpractices in its centres, contrary to speculations that it does so when candidates perform excellently.
While speaking at the 18th Youth Empowerment and Restoration Initiative Career workshop organised by Lonadek Oil and Gas Consultants in Lagos on Thursday, the Zonal Coordinator of WAEC, Lagos and Ogun states, Mrs. C.O. Agwu, said examinations conducted by the body were not to witch-hunt candidates, but to examine their academic intelligence.
Agwu said, “WAEC rewards the best three outstanding students in its examinations. Meanwhile, we cancel results of candidates who score zero if there is any indicting report about the centre. It is not about the score, it is about having reports of malpractices at any of our centres.
“Imagine a situation where students from the same centre had the same answers, made the same mistakes, and committed the same errors. In such cases, we call subject professionals to examine the situation and make recommendations.”
She advised students to pay adequate attention to instructions, stressing that candidates lose marks when they don’t pay adequate attention to instructions.
On the issue of leakage of examination questions, Agwu said it was due to loopholes from other concerned persons.
That’s the much we can take on the topic “Meaning of Waec Held, Witheld and Outstanding Result 2022″.
Thanks For Reading
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