The Cryptoverse – the company described itself on its own website as an online broker. The Cryptoverse offered its customers various services. The website of the service provider is currently no longer online.

You have invested with The Cryptoverse and want your money back? The Herfurtner law firm will help you in case of difficulties.

The Cryptoverse – Trading Evaluation

Currently, there is an extremely high number of online trading platforms such as The Cryptoverse. As a result, it has never been as easy but also risky as now to invest in the unpredictable financial markets. Especially because there are a lot of options, choosing a financial services provider can be time-consuming and daunting.

Especially if you want one that suits your personal investment needs. Are you thinking about investing with The Cryptoverse? Then the following points are important for you as an investor.

  • State-regulated online brokers, trusted websites, costs and bonuses, product options and ratings are just some of the factors to consider when making your final decision.
  • Access to the global stock markets is becoming more convenient and versatile for investors through online investing.
  • In online trading, you can apply a wide range of order types.
  • An ideal place to start for money investors who want to inquire about share certificates, futures, binary options and cryptocurrencies is a website like this one.

The following information is general advice for investors – regardless of the platform in which you invest capital.

Evaluate The Cryptoverse correctly: Characteristics of reputable trading providers

The following considerations should be kept in mind when looking for opportunities to invest your money on the internet:

  1. Look for an imprint on the provider’s website. If this is not the case, the message is: Hands off! But also bear in mind that an imprint can be faked.
  2. In Germany, the imprint must include an address, the contact details of an authorised representative of The Cryptoverse and a telephone number.
  3. It can be very beneficial to find out what other customers are saying about a potential service provider, even if it is only on the internet.
  4. Financial service providers such as The Cryptoverse must be licensed in Germany by the Federal Financial Supervisory Authority (BaFin). The BaFin’s company database contains information on licensed service providers.

The Cryptoverse – Sending Email & Fax Offers?

Have you ever received investment offers by e-mail from a service provider like The Cryptoverse that you are not aware of? Do you receive faxes from the stock exchange that you did not ask for at all? Or have you received a supposed “secret tip”?

Investors should beware of such tips, because they are often spread by criminal groups or online brokers who want to profit from a false success story by selling shares. Cases have also become known in which consumers and investors are consulted by an alleged stock exchange supervisory authority.

It is falsely said that the people written to have become victims of a fraud and that the relevant data has been passed on to the stock exchange supervisory authority by the alleged Federal Public Prosecutor’s Office in Karlsruhe. The persons written to are asked to fill out an Internet form.

This is a clear attempt at fraud. We recommend under no circumstances to enter into any exchange with the same person or to provide sensitive data such as user names, passwords, credit card numbers or other identifying information such as your account data at The Cryptoverse.

Pump and Dump: How does the scam work?

The term pump and dump is used to describe a procedure in which the price of a share is unnaturally inflated by insiders. Afterwards, the same share is sold at a loss to other investors. This is therefore a fraud. A fraud that profits from the ignorance of small investors and stock market novices.

This approach is therefore not allowed in a controlled stock market and for providers such as The Cryptoverse. The crypto market, however, is still almost completely “Wild West” when it comes to these very tactics. For this reason, extreme caution is advised! Pump-and-dump scams are increasingly found there in the context of the altcoins generally referred to as such.

The pump-and-dump scam is used by criminals to drive up the price of an unknown currency or one they may have created themselves. They achieve this by propagating disinformation on the web or in social media or by recruiting co-investors with unreasonable profit expectations.

So make sure that you are provided with all the necessary facts on this subject by the provider The Cryptoverse, if applicable.

Are there any conditions attached to the payout?

Buyers are very often wooed by an “online broker” or a call centre employee after they have registered on the apparent online trading platform. The aim is to encourage the investor to increase his long-term investments in order to maximise profits. This is also a legal goal of the service provider The Cryptoverse.

Immediately after the investor has transferred his money, preliminary profit developments may be shown on his account. This should encourage the investor to continue investing in the financial instrument. The operators of the trading platform, on the other hand, can use fraud software to fake improper account movements and money gains, even without the consumer noticing.

Make sure that accounts can also be verified with The Cryptoverse.

In reality, no trading takes place at all on numerous online trading platforms. Instead, the transferred capital is forwarded by the fraudulent brokers to bank accounts outside Germany’s borders. This is not noticed by the investors at first.

The “brokers” delay the disbursement of the represented profits by demanding the payment of allegedly incurred taxes and processing costs from the investors. The deceptive manoeuvres only serve the purpose of increasing profits.

At a certain point, communication breaks down completely. The money paid is used up. From this point on, the only way left is to go to the lawyer to launch further actions.

Opaque exit options

Make sure you know when and how much money will be paid out. Optimally, avoid longer-term contracts that cannot be terminated prematurely or where you would suffer considerable financial losses. Only enter into long-term contracts with no early termination option with providers like The Cryptoverse whose reliability you have no doubts about.

Even if you have the option to opt out of a contract at any time or to cancel it over a specified period of time, you should be critical. Even if these options do exist, you are still vulnerable to monetary damages. Make sure you know exactly how much money you will recover if things go wrong.

For share transactions, the following rule applies: Before the end of the contract period, find out what options you have to sell a share. It is usually important to be aware of whether there is a liquid market for offers such as those offered by The Cryptoverse. It is possible to sell shares through a broker or a financial institution.

All three methods are acceptable for placing a sell order. The actual selling process is then completed via an exchange (e.g. Berlin, Stuttgart, Frankfurt, Tradegate or Xetra) (e.g. for penny stocks). Order supplements can be used to direct the execution of the order in advance. The sale of the securities takes place at a time and place determined by you.

You want to get your capital back from The Cryptoverse? Our law firm can help

You have invested with The Cryptoverse, or another service provider? Now you are encountering problems with the repayment? Then we recommend that you immediately stop any additional payments. This is especially true if the trader demands additional payments to make up for deficits. In addition, you should try to recover the lost capital.

In doing so, aggrieved investors can seek investor protection and turn to the lawyers of our law firm. We examine civil law as well as criminal law options and possible claims for damages against the financial provider and against involved payment service providers such as banking houses.

“A private investor who loses money in the course of online trading is truly not an isolated case. Many private investors are blinded by the professional appearance of the financial providers and only realise too late that they are not responsible for their losses.”

Our recommendation is therefore not to despair, but to react quickly and with commitment. Because the prospect of recovering the lost money is often greater than the aggrieved private investors think. Would you like to talk to one of our lawyers about The Cryptoverse? Then you can go directly to our contact area here.