COS and COSCoins have received securities fraud warnings from the UK.

As per the FCA’s December 12th warning, COS and COSCoin are “not authorised … and may be targeting people in the UK”.

As per UK securities law;

Almost all firms and individuals must be authorised by (the FCA) to carry out or promote financial services in the UK.

COS, aka Cosetek, is a “click a button” app Ponzi run through CosCoin.

Following a regulatory fraud warning from Washington in September, COS went on to collapse in late November.

In the lead up to COS’ collapse, SimilarWeb tracked 1.7 million monthly visits to COS’ website.

Specifically for November 2023, the majority of COS’ website traffic originated from the UK (22%), Morocco (18%), Bangladesh (11%) and Hungary (10%).

Total COS victim numbers and how much they’ve lost remain unknown.

“Click a button” app Ponzis are run by a group of Chinese scammers. To date BehindMLM has reviewed over a hundred of the low-effort scams.