Choosing a trustworthy crypto provider has become increasingly difficult as of late, considering the number of fraudulent platforms that operate through boiler rooms or financial pyramids.
In order to stay safe and profit on volatile crypto markets, you should learn to recognize what companies are not trustworthy. One such crypto portal is exposed in our Kuisk review, so read on.
| Regulated by: | Unregulated Crypto Exchange |
| Is This Company Safe? | No, this portal is owned by notorious scammers! |
| Known Websites: | kuisk.com |
| Have Warnings from: | N/A |
| Registered in: | N/A |
| Operating since: | 2024 |
| Trading Platforms: | Web trader |
| Maximum Leverage: | N/A |
| Minimum Deposit: | 0.000327 BTC |
| Deposit Bonus: | No |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Contact our legal team in order to start a recovery process. |
Compliance and Safety Risks
Although the Kuisk exchange claims to provide maximum safety of funds, mitages all risks and safeguards clients’ assets, no solid proof exists to confirm such claims. The website is owned by notorious cyber thieves related to other known scammers and running multiple illicit schemes.
Those are CRYPTO ARBY TRADE LIMITED, blacklisted by the Russian regulatory authority – CBR. Besides being known for unscrupulous campaigns, it was never revealed where this company operates from. There is indeed a company with the same name that used to be in the UK Companies House database. However, that business was dissolved in December 2022.
Speaking of which, you should also watch out for Digibits FX, which is also known to engage in similar fraudulent tactics while promising their victims the best trading conditions imaginable.
Con Strategy Explained
The main company website, kuisk.com, was constructed in January 2024. The domain in question is listed as available for purchase, meaning that the con artists never intended to keep it after the original 1-year lease period.
This is quite common for financial frauds, and is one of the main reasons why you should consider taking legal action as soon as possible. Should you decide to do so, our experts are at your disposal.
The fraud uses a so-called boiler room, or better known as a scam call center. Their agents mostly target people from these areas:
- Germany
- United States
- Switzerland
- Denmark
These swindlers rely on a predetermined script to pitch their idea to the marks, usually by phone. Any invested funds simply end up lining their pockets.
Users Are Disgruntled
Considering the company age, you wouldn’t exactly expect a lot of customer feedback. The number of Kuisk reviews is rather slim, and could be considered an insignificant sample for statistical purposes.
However, it’s difficult to ignore the fact that all the ratings you find on TrustPilot and other similar sites are negative. The clients all complain about being defrauded, and cite some well known con strategies.
Insufficient Info on Fees
The tiered fee structure promoted by the Kuisk crypto scam is based on getting discounts from increased monthly trading volume. While your starting fees are set to 0.30%, if you climb high enough and have over 2 millions of monthly trades, you will unlock Maker / Taker fees of -0.05% / 0.05%, with cashback of up to 116%.
Both deposits and withdrawals are also charged. Every order you place costs 1% while deposit is charged depending on the crypto coin you invest. For example, funding your trading account with Bitcoins costs
0.000016 BTC. None of the withdrawal fees is disclosed.
Referral Fraud
Another way to entrap existing customers and drag new victims into the scheme is through the affiliate campaign.
This is also a tiered structure that deludes users to invite more people in order to gain passive income. According to the website you can get up to 60% commission paid by your affiliates.
Deceptively Rich in Features
The company sure tries hard to leave an impression of having a diverse range of tools and options. There’s futures, spot and options trading platform, proprietary wallet, instant swap, as well as the Kuisk P2P trading.
Unfortunately, despite the seemingly rich offer of activities, the portal lacks a license and therefore cannot be considered a genuine service provider.
Minimalist Software
Now, there’s nothing particularly outstanding to mention about the Kuisk app that we haven’t already seen. The simplified user interface may help novices navigate the markets easier and keep an eye on price changes. However, any advanced functions and progressive analytical features are amiss.
Taking into consideration that the platform is run by fraudulent and anonymous cyber criminals, we advise you to stay away from it.
Limited Availability
The site offers a solid number of crypto coins you can swap, and use for trading options, futures and spot trading. However, only spot trading is available to newly registered users. Others have to pass a level 3 verification we will soon discuss.
For now, we will mention some of the more popular crypto assets available: BTC, ETH, BCH, ETC, XRP, LTC, ADA, DASH, DOGE, BOT, BNB, EOS, SHIB, LINK and ZEC.
Account Verification Levels
Registering for a Kuisk login only gets you so far. While you can spot trade and swap currencies, you will have to confirm your identity before being allowed to engage in trading options and futures.
That means providing pieces of personal information, such as ID number, passport, drivers license. This is a risky procedure, considering that con artists are known for identity theft.
After account confirmation you are also able to try Kuisk staking, which requires you to deposit an amount of crypto coins and wait between 14 and 90 days to gain between 0.1% and 0.3% per day.
Quick Payouts Trap
Withdrawing funds from your Kuisk wallet is allegedly completed between 5 and 30 minutes with maximum security and safety precautions.
That is quite hard to believe, having in mind the true intentions and the fraudulent nature of this business. For your own safety and peace of mind, please only choose well regulated platforms to invest with.
Forever Busy Support Agents
The only way to establish communication with the support office is through the barely active online chat. The feature is only available to the website registrants, not visitors.
However, once you send a message, you will have to wait at least 30 minutes for a reply. Then you have to explain your issue again for the support agents to ignore it once more.
Lost Money On a Scam? Get it Back!
There are no merits in dealing with companies that are unregulated, or licensed only in an offshore nation as is the case with 77markets. Any alleged trading benefits are there only to make you invest more money, simply for it to be stolen again and again.
You may use the live chat option on our website to book a free consultation with our recovery experts. With their help, you can fight back to recover your stolen investment!
FAQ Section
What is Kuisk?
It is an unregulated cryptocurrency exchange scam, operated by a well-known scam entity.
Is Kuisk Legit?
No, this exchange is operating with no license or supervision from any relevant authority.
What is CipherTrace?
It is a software tool that helps to track crypto transactions. Contact our experts to learn how it can help us get your stolen crypto back.
Source:
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