Welcome to our ESOM Review & Scam Warning, in which we investigate the website which until very recently was found at esom.cc.
Recently one of our partners received the following complaint:
I invested in the ESOM platform with an initial amount of $200. When it reached $370, I was unable to withdraw my funds.
So is ESOM a SCAM?
ESOM Review
The domain esom.cc was registered on November 3, 2022, about 6 months ago, for 3 years through ALIBABA.COM SINGAPORE E-COMMERCE PRIVATE LIMITED.
It is ranked 143,590 globally and 1,580 in Pakistan. In March 2023, they received more than 350,000 visits from Pakistan, Bangladesh, UAE, Egypt, Peru, and other countries. So this is not an obscure website, but one that is (or was) moderately popular.
Currently, the domain is down, however there’s a TrustPilot review that suggests it was still online until very recently, as we shall see in the below section, ESOM Reviews.
For now, let’s try to learn about esom.cc by looking at any traces it left in the Google index.
Get in touch with our affiliated Bitcoin Forensic Investigators at CNC Intelligence for free by filling out the form below.
Unfortunately, the website is not indexed on Google so let’s move on check the reviews.
ESOM Reviews
On TrustPilot, Esom is ranked 2.6 stars out of 5 based on 27 reviews. The most recent review is from March 30, 2023 while the oldest review is from January 21, 2023 so apparently this website went from 0 to 100 in about 3-6 months which is pretty amazing.
As for the content of the reviews, some are positive, but they may be fake. However, there are 15 one-star reviews, which are useful for our purposes. Here’s the review from March 24, for example:
Do not deposit any money on this site. It is a scam. They use this method to steal your money. Just read the message below and you will understand:
“Dear user, due to the attack on the data migration of the payment system, the automatic payment system is temporarily unable to operate normally. You need to double the funds in the recharge account for transaction hedging verification. If the verification is passed, we will handle the one-way manual withdrawal procedures for you. Wallet your funds are withdrawn normally”
So apparently, just before the website went down, withdrawals were ceased.
Many of the other reviews also suggest that Esom.cc is a scam and advise people not to invest any money into the platform. Several users have reported not being able to withdraw their money or have had their accounts blocked. Some reviewers also mention the poor customer service and lack of communication from the company.
Other than TrustPilot, we find mention of esom.cc in many Arabic sites. Looks like this website was targetting the Arab world, which explains why most of its traffic comes from Pakistan, Bangladesh, UAE, and Egypt.
Let’s check a few of them to see what can be gleaned.
According to online reviews, Esom is a cryptocurrency trading platform that has gained popularity among traders and investors due to its low prices for executing trades. However, recent reports and evidence of fraudulent activities associated with Esom raise significant concerns about its credibility and reliability. The platform has been linked to illegal activities such as money laundering and providing false information about digital currencies. Many users have reported being defrauded, resulting in substantial financial losses. The lack of transparency and hidden personal data of the platform administrators further adds to the concerns.
One of the main issues highlighted in the reviews is the lack of transparency and credibility of Esom. The platform’s website lacks a main system interface, and there are hidden personal data and fake reviews associated with the platform. The platform has been accused of making false evaluations and banning customers who complain about fraud. There is also no clear information about deposit and withdrawal methods, and many customers have reported difficulties in withdrawing their funds due to scams carried out by the platform. Such lack of transparency and credibility raises serious concerns about the legitimacy of Esom as a cryptocurrency trading platform.
Furthermore, the reviews indicate that Esom has been involved in illegal activities such as money laundering and providing false information about digital currencies. The platform has been labeled as a scam and has caused significant financial losses to users, particularly Arab investors. The platform has been accused of misleading traders with false information and providing unrealistic promises of easy profits. The lack of transparency and credibility in its operations further raises suspicions about the legitimacy of Esom as a cryptocurrency trading platform.
Additionally, the reviews highlight that Esom has been associated with other fraudulent activities such as operating as an investment-based MLM company and being part of a group of similar Ponzi schemes. The platform has been accused of recycling invested funds to generate returns and paying referral commissions through a unilevel compensation structure based on recruitment of affiliate investors. Such practices are indicative of a Ponzi scheme and raise serious concerns about the integrity of Esom as a trading platform.
The reviews also point out that Esom is not regulated, which is a major red flag for any investment platform. The lack of proper licensing and regulation indicates that Esom may be operating illegally and may not provide any protection to its clients. Dealing with unregulated investment platforms like Esom can be dangerous, as they lack transparency and may engage in manipulative practices to convince users to deposit funds without any responsibility for their actions.
In conclusion, based on the reviews, Esom appears to have serious credibility and reliability issues. The platform has been associated with fraudulent activities, including money laundering, providing false information, and operating as a Ponzi scheme. The lack of transparency, hidden personal data, and fake reviews raise serious concerns about the legitimacy of Esom as a cryptocurrency trading platform. Additionally, the lack of proper licensing and regulation further adds to the concerns about the safety of users’ funds.
Who is behind ESOM?
On Facebook we find a page that is promoting esom.cc via an affiliate link. The banner says “Earn Money Online with ESOM Platform. Visit Esom Office Near Nadra Office Dhulyana Road Hujra Shah Muqeem.” A contact number is provided: 0306-8705859.
Hujra Shah Muqeem is a city in Pakistan and +92306-8705859 is a valid Pakistani number.
We found another post on Facebook in which we find this exact number, which was left as a reply to another post. It says:
My dearest sister, I heard that you have been granted the opportunity to go on pilgrimage to Khana Kaaba this year. If this is true, then I offer you many congratulations from Ali Bakhsh at 03068705859.
So could Ali Bakhsh be the person behind this scam? Or maybe just an affiliate?
So it possible that the creators behind this scam are based in Pakistan.
Esomgroup.org
One of the interesting things we notice is that there’s another domain that may be associated with Esom: esomgroup.org. While it also seems to be down, it is still indexed on Google.
The domain esomgroup.org was registered on September 27, 2022 for two years through Gname.com Pte. Ltd. by a registrant that claims to be located in New York, USA.
Esomgroup.org is ranked 5,383,127 globally and 146,005 in Pakistan. In March 2023, they received 4,800 visits.
On the Google index we find two pages titled “Learn – ESOM,” the first contains “learn-sa” in the URL and has the description: “Ready to work ? Lets Get Started. Copyright © 2021.ESOM All rights reserved,” while the second contains the URL “learn-pt” and has the description (in Portuguese):
ESOM é uma empresa de tecnologia AI que integra negociação e computação de moedas digitais. … Não é possível tocar este vídeo no seu navegador. Saiba mais …
In translation to English, this says:
ESOM is an AI technology company that integrates digital currency trading and computing. … It is not possible to play this video in your browser. Know more …
Finally, there are two PDFs files in a directory named “Assets,” one is titled “CP 575 A Notice – ESOM” with the description:
WE ASSIGNED YOU AN EMPLOYER IDENTIFICATION NUMBER. Thank you for applying for an Employer Identification Number (EIN). We assigned you. EIN 88-1336009.
while the other is titled “Articles of Incorporation for a Profit Corporation Colorado … – ESOM” and has the description:
Document must be filed electronically. Paper documents are not accepted. Fees & forms are subject to change. For more information or to print copies.
These URLs are not cached on Google. We will use the above information to see if there are any other domains on which this website is hosted.
Based on online reviews, the Esom Group is a fraudulent crypto investment platform that claims to use quantitative trading of cryptocurrency markets to generate monthly returns of up to 18%. However, it is an illegal investment service and a scam that operates as a classic Ponzi scheme, using deposits from new investors to pay profits to earlier investors.
Esom is registered as a company in Colorado and with FinCEN, but these registrations do not prove its legitimacy. Transactions on Esom’s platform are irreversible, making it difficult to recover lost funds. Investors should stay away from Esom to protect their capital and thoroughly research any investment platform before depositing funds to avoid falling victim to scams.
Here’s the only TrustPilot review about the website from April 08, 2023:
Thieves! My sister lost 2000 dollars with them… She had accumulated that amount and without any excuse, they blocked her. They are scammers, they became scammers… They are the worst, like all the investment platforms… Vicious circle… Do not invest in that!
One private Facebook group focused on crypto currency assured earnings promotes the ESOM platform that allegedly trades with automated intelligence on four platforms (Binance, Huobi, Okx, and Coinbase), with a cumulative profit ranging between 2.4-3.0% per day, potentially doubling capital in less than a month. A link appears on the page – es-glzx.com – which supposedly leads to the platform, but it is broken.
In summary, we believe that there may be no connection between Esom.cc and Esomgroup.org besides both being scams. Not only the websites looked differently, but also target different audiences.
Bottom Line
In conclusion, the investigation of ESOM has revealed several red flags and concerning elements.
The website is not indexed on Google and is currently down. ESOM is not regulated, lacks transparency and credibility, and has been associated with illegal activities such as money laundering and providing false information about digital currencies.
Numerous users have reported difficulties in withdrawing their funds and several have had their accounts blocked.
The lack of proper licensing and regulation indicates that Esom may be operating illegally and may not provide any protection to its clients.
Overall, the reviews suggest that ESOM is a high-risk platform with serious credibility and reliability issues.
If you have are a victim of these scammers, please let us know by commenting below and if you have lost a significant amount of money to online scams, do not lose hope. We can help you recover your funds!
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