HashOcean – the company described itself as an online broker on its corporate website https://hashocean.com/. The WWW page of the service provider is currently no longer accessible.

You encounter problems with the distribution of your capital investment? Our lawyers can help you with claims against HashOcean.

HashOcean – What is known about the broker?

Currently, there is an extremely high number of online trading platforms such as HashOcean. As a result, investing in the unpredictable financial markets has never been as easy but also as uncertain as it is now.

Especially because there are countless options, choosing an online platform can be time-consuming and daunting. Especially if you want it to meet your personal investment needs. Are you considering investing money with HashOcean? Then the following aspects are important for you as an investor.

  • Online investments make it easier and more interesting for investors to access the world’s stock exchanges.
  • A good address for investors who want to inquire about securities, futures, binary options and cryptocurrencies is a homepage like this one.
  • When trading on the net, one can use a variety of order types.

The following information is a general suggestion for investors – regardless of the platform you invest in.

Is HashOcean credible? Identifying trustworthy online trading providers

The following considerations should be kept in mind when looking for opportunities to invest your capital online:

  1. It can be very helpful to answer the question of what other consumers are saying about a potential service provider, even if it is only on the web.
  2. Financial service providers like HashOcean must be licensed in Germany by the Federal Financial Supervisory Authority (BaFin). BaFin’s company database contains information on approved service providers.
  3. Look for an imprint on the provider’s website. If this is not the case, it means: Hands off! However, you should also bear in mind that an imprint can be faked.
  4. In Germany, the imprint must include an address, the contact details of an authorised representative of HashOcean and a telephone number.

Are there risks associated with making payments to HashOcean overseas?

Is it beneficial for you to transfer assets to a country outside Europe? Pay close attention to what you are doing. Numerous investors have already lost funds in this context. It is conceivable that you could lose the overall picture of where your funds are going and how they are invested.

When capital was provided to a broker, it happened that the provider did not invest the transferred amount of money as specified or even not at all. There were also cases where the company simply did not exist, although it presented itself in a comparable way to HashOcean.

Continuing the trend of the former “Nigeria Connection”, a large number of e-mail messages from Africa (in English, so-called “scams”) continue to circulate. These target companies and private investors. Similarly, fake enquiries are reported from other African countries.

Previously, the scammers only operated from questionable locations. Today, they operate from completely different places such as the United Kingdom (including London), the Netherlands, Canada, Spain, Dubai and others. For the vast majority of people, it is difficult to identify tricky scams.

Companies often receive e-mail orders with enormous order volumes that bear no relation to the usual purchase amounts. In order to lure the German company, enormous promises of profits are made.

However, the considerable order volume only serves as a means of exerting pressure in conversations with the provider in order to demand correspondingly excessive authorisation and registration costs.

It is not always clear whether the addressee of this payment is also the customer of the goods. Regardless of all this, one can assume that companies operating abroad will not have to pay regional taxes on deliveries to other countries for the time being. This usually also applies to investments in HashOcean.

Unauthorised orders? Trusted providers never act contrary to your order

Placing orders for transactions in securities without the account holder’s consent can, in some cases, cause the price of particular shares to jump. This applies in particular to open market transactions in illiquid foreign shares (over-the-counter market).

Therefore, be sceptical if you are instructed to disclose sensitive data about the investment with HashOcean entirely without your permission with reference to supposedly rewarding trades or profit announcements.

You should never give your International Bank Account Number, SWIFT code and other bank codes to anyone you do not know. Similarly, you should not disclose your account or deposit numbers and passwords.

Do not hand over any custody account documents or securities statements from HashOcean to a third party who is unknown to you. Callers posing as investment advisors, online brokers or employees of a financial authority are also unpredictable.

How to distinguish reliable from dubious online trading platforms

There is an abundance of investment goods on fraudulent internet platforms, which are aggressively advertised in forums and social media to convince investors. In addition, “network marketing” is used to solicit new investors.

In particular, the promise of immediate profitability is emphasised in the advertising. In order to start investing, a potential investor must first create an account with the trading platform – as is the case with HashOcean.

Then the apparent online brokers contact the investor via a call centre and do everything they can to persuade him to pay large sums of money. The optimistic attitude of investors towards cybertrading is partly supported by the desire for future profits.

Buyers are more willing to invest in the future if they see exactly the kind of results they want. At this stage, investors are deceived by a manipulated trading algorithm about the true evolution of stock market data and prices. HashOcean does not necessarily fall into this category.

The criminals use their own biased price values to calculate returns. As a result, the service provider has all the control over whether a profit is made or not. Until the alleged profits are distributed, this manipulation will continue.

If the capital provider wishes the distribution, the buyers suddenly no longer have access to their accounts and the personal contacts associated with them. The vast majority of investors lose all their capital invested in this fraudulent trade, forcing them to seek legal assistance.

Unsolicited offers of help to recover funds?

Anyone who has ever lost funds to a fraudulent investment platform knows how devastating that can be. That alone is terrible enough. But on top of that, the fraudsters behind the bogus scheme contact you within a short time by email or phone call.

This time, however, they do not pretend to be brokers from HashOcean. Instead, they promise to help you recover your lost capital in exchange for an upfront payment. Many rip-off artists even appear to have been hired or engaged by trusted companies such as a financial regulator.

After stealing your sensitive data, it is not uncommon for the scammers to pose as good Samaritans. They promise to assist you in recovering the stolen money. Even if you have invested money with a provider like HashOcean, your contact information may be stolen.

Those who have lost an immense amount of money are usually desperate. The criminals take advantage of people’s desperation by posing as “recovery companies”. They offer their services under the pretext of assisting them to recover their funds. That is, they promise in a dubious manner that they will recover the lost capital.

Recovering deposits from HashOcean: Lawyers help

Investors who have lost capital with a company like HashOcean, or who are having difficulty getting their winnings paid out, should first avoid making additional payments. In that case, it is definitely advisable to seek legal advice and have them look into any possibility of compensating you for your investment. It is important:

  1. react quickly
  2. seek legal assistance
  3. do not lose hope

Do you have questions about the service provider HashOcean? In this case, our legal advisors are ready to provide you with information. Feel free to contact us to discuss HashOcean.