Latoken is a crypto exchange platform that was established in 2017, right when crypto currencies reached the peak in popularity and price. The website offers services related to buying crypto coins, exchange and staking with enormous profit returns.
In terms of services, the site itself has a lot to offer, but they do lack one crucial element – a proper crypto license. Our Latoken review explains the changing ownership over the years this platform has gone through, as well as legal issues in the process.
Latoken has changed several ownerships. At first, the parent company called LAT Foundation Limited from Cayman Islands started running latoken.com. Then the company either changed the name or the domain got in the hands of another Cayman firm – Nextchange Limited.
The Latoken website promotes the ideas of seamless crypto buying and selling without high fees or additional charges to pay. For an even more attractive offer, the scheme presents the possibilities of participating in various competitions with unrealistic rewards.
As seen from the negative reviews, the platform doesn’t always pay out the profit or distribute the rewards as promised.
It’s the same with withdrawals- the boiler room agents vouch for quick and fee-free payouts, but that turns into major hustle and prolonged nightmarish wait until requests get denied.
The fact that this firm serves customers from all around the globe without licenses from any jurisdiction is additionally disturbing. So far, most of the fraud victims have appeared in these countries:
This is often done with web traders to deceive investors, so don’t easily trust rudimentary and seemingly comprehensive web distributions.
A total number of about 250 crypto coins are available for exchange. The most promoted one is the LA token created by the firm with a current price of $0.02756. Some of the other most popular digital currencies traded against USDT are the following:
The single account type is easily created – the process takes about two minutes with the verification step included. After creating the Latoken login, you can use the credentials to log into the platform from any device, but you can also register more than one account.
Instead of account types, there’s a total of 9 VIP levels which allegedly unlock lower fees.
However, the fact that the platform swallows up your investment in case you do not meet the deposit requirement is dreadful. Thievery is probably the reason why the exchange doesn’t reveal minimum deposit expectations.
The Taker and Maker fees depend on the trading account volume, with higher volume granting lower fees through a number of levels.
On level one, Taker fee is 0.98% and Maker 0.49%. These progressively get lower, with each level you gain. Maker fee for level 9 is 0% and Taker 0.08%.
Withdrawal fees are charged, and they depend on the currency you choose to withdraw in. For BTC that tax amounts to 0.0005 (~$13).
The omnipresence of constant competitions, bonuses, rewards and campaigns on the site is somewhat worrying, since many Tier 1 regulators have banned these to stop the abuse and withdrawal locking.
The referral program allows you to earn up to 25% commission per friend referred and up to 25% cashback.
The exchange rewards task performers with LA tokens, by completing daily contests.
No matter which financial channels or methods this company promises, the bottom line is that payout issues are frequent. Droves of clients complain about frozen assets, delayed payouts and their balance outright disappearing.
Taking legal action might be the only way to get a Latoken withdrawal after all. Book a free consultation with our legal experts today in order to start a chargeback procedure.
With all things considered, neither latoken.com platform, or their owners are trustworthy. Their clients are not what you’d call satisfied customers, and many complain about being denied a payout.
Our professionals are available 24/7 via the live chat. Book a free first consultation today, and fight back to charge back your cash!
No matter how many parent companies they’ve changed, Latoken never had a necessary license to provide their services.
This bogus firm is operating worldwide, but the majority of their victims live in India, Indonesia, Brazil, Turkey, and the United States.
Latoken was launched in 2017, which gave it ample time to defraud thousands of people. For help with recovery, contact our chargeback professionals.
The proof that Latoken is not decentralized lies in the fact that the con artists can freeze assets, or postpone or even deny the withdrawal process.
The post Latoken Review- Offshore Exchange’s History Of Blacklisted Owners appeared first on Global Fraud Protection.