Cryptocurrency scams have been a constant threat to the industry since its inception. These scams not only drain funds from unsuspecting investors but also contribute to the negative perception of cryptocurrency as a whole. One such company that has been experimenting with online users’ psychology is Finixio crypto. In this article, we will delve into the history of Finixio, its questionable practices, and how its actions can contribute to the crash of the cryptocurrency industry.
Finixio is a UK-based tech company that specializes in online marketing and advertising. They started in 2018 as a subsidiary of XLMedia, a digital marketing company. In 2019, they started to acquire a number of crypto news websites, including Cryptimi.com and CryptoVantage.com. These websites were later found to be promoting fraudulent cryptocurrency schemes.
How does Finixio Operate?
Finixio’s modus operandi is to buy crypto news websites or even create new ones in order to boost their rankings on Google. They would then populate these websites with clickbait articles and fake reviews that feature fake celebrity endorsements and other sensationalist headlines. These articles would often promote cryptocurrency schemes that are either outright scams or have no basis in reality.
Finixio’s subsidiaries: a kingdom of hypes?
As stated earlier, in order to hype a certain project (be it theirs or of a customer), Finixio creates or acquires crypto news projects that all write the same hyped-up review of that certain project. There are many crypto news agencies or failed projects that are directly or indirectly affiliated with Finixio, here are a few:
- Kryptoszene: German crypto news site
- Cryptonaute: Frech crypto news site
- SafeBettingSites: Betting site
- OnlineCasinoMaxi: Online Casina site
- TradingPlatforms: Trading news site
- FinixioAI: Launched by the company, only to take the money and disappear. Here was the link to the website, and here’s a paid review article.
- Coincierge: German crypto news site
- Business2Community: Crypto news site
- Among many many others (Finanso.se, Coinbox.dk, CoinSpot.nl, Baankr.nl, Finaria.it, Stockapps.com…)
Indirectly related:
- CryptoPR: Crypto news site
- Student Coin: Crypto project
- CryptoNews: Crypto news site
- UTBAI: Trading Bot, replacing FinixioAi which does not exist anymore
How is Finixio misleading people?
Finixio’s business model is built around selling traffic to other companies through shady crypto landing pages. These landing pages would lead visitors to cryptocurrency schemes that promise huge returns in a short amount of time. In reality, these schemes are often Ponzi schemes that rely on new investors to pay off the old ones.
One of the most insidious aspects of Finixio’s operations is the use of fake celebrity endorsements to promote their cryptocurrency schemes. These endorsements would often be accompanied by photoshopped images and quotes that misrepresent the celebrities’ opinions on cryptocurrency. Many other cryptocurrency scams use this practice, and it is one of the main reasons why the industry has such a negative perception among the general public.
Finixio’s activities have not gone unnoticed by the authorities. In 2020, the UK’s Financial Conduct Authority (FCA) issued a warning against a cryptocurrency scheme that was promoted by one of Finixio’s websites. The FCA also issued a warning against another scheme that was promoted by a website that was later found to be owned by Finixio.
Finixio’s Bad Influence on the Crypto Market
Finixio’s questionable practices have contributed to the crash of the cryptocurrency industry in a number of ways. Firstly, they drain funds from unsuspecting investors who fall prey to their scams. This erodes the trust that investors have in the industry as a whole. Secondly, the negative perception that Finixio and other cryptocurrency scammers create makes it harder for legitimate businesses to operate in the industry. Finally, the actions of scammers like Finixio attract the attention of regulators and law enforcement agencies, which can lead to increased regulation and oversight that can stifle innovation in the industry.
Conclusion
Finixio is a UK-based tech company that specializes in online marketing and advertising. Their operations were fraudulent and they have been identified as cryptocurrency scammers. They basically have a big circle of online news sites that all write the same “positive” review on one of their projects and push the narrative further. Their practices have contributed to the negative perception of the cryptocurrency industry and have drained funds from unsuspecting investors. It is important for investors to do their due diligence and be wary of any cryptocurrency schemes that promise huge returns in a short amount of time.
