Who is behind Tapswap? 12 Year Old Crypto Founder

Site Name: Tapswap

Introduction

Tapswap, a cryptocurrency trading platform, has been gaining attention online for its claim of being founded by a 12-year-old crypto enthusiast. The website appeared to offer investment opportunities in the cryptocurrency market, enticing users with promises of high returns. However, a closer examination of the site raises concerns about its legitimacy and regulatory compliance.

Unlicensed Broker

Upon reviewing Tapswap, it becomes apparent that the platform lacks the necessary licensing and regulatory information. A legitimate broker is required to provide clear and transparent information about its licensing, registration, and regulatory compliance. Tapswap’s absence of such information is a significant red flag, indicating that it may be an unlicensed broker. Furthermore, the site’s claims of being founded by a 12-year-old crypto founder raise suspicions about the authenticity of the information provided.

Red Flags and Suspicious Behavior

Several red flags and suspicious behaviors have been observed on the Tapswap website. These include:

• False promises: The site promises unusually high returns on investments, which is a common trait of investment scams.
• Lack of transparency: The website fails to provide clear information about its trading practices, fees, and risks associated with investing.
• Unrealistic expectations: Tapswap creates unrealistic expectations about the potential earnings, which can lead to investors making poor financial decisions.

Identifying Unlicensed Brokers

To avoid falling prey to unlicensed brokers like Tapswap, it’s essential to be aware of the warning signs. Here are some tips to help you identify unlicensed brokers:

• Check for licenses: Verify if the broker is licensed and registered with relevant regulatory authorities.
• Research the company: Look for reviews, ratings, and feedback from other users to gauge the broker’s reputation.
• Be cautious of promises: Be wary of brokers that promise unusually high returns or guaranteed investments.
• Look for transparency: A legitimate broker will provide clear information about its trading practices, fees, and risks associated with investing.

Steps to Take After Falling for a Fake

If you’ve fallen victim to an investment scam like Tapswap, it’s crucial to take immediate action to minimize potential losses. Here are some steps to follow:

1. Stop all communication: Cease all communication with the scammer and do not respond to any further requests.
2. Report the scam: Inform relevant authorities, such as the Federal Trade Commission (FTC) or your local financial regulatory body, about the scam.
3. Contact your bank or payment provider: Notify your bank or payment provider about the unauthorized transactions and request their assistance in recovering your funds.
4. Consider identity theft protection: If you’ve provided personal or financial information to the scammer, consider enrolling in an identity theft protection service to monitor your accounts and credit reports.
5. Warn others: Share your experience through reviews and scam reporting websites to help others avoid falling victim to the same scam.

In conclusion, Tapswap’s lack of licensing and regulatory compliance, combined with its suspicious behavior and false promises, indicate that it is likely an unlicensed broker. By being aware of the warning signs and taking steps to protect yourself, you can avoid falling prey to investment scams like Tapswap. Remember to always prioritize your financial safety and security by verifying the legitimacy of any investment opportunity before investing.