In this Silk Assets review we explain why you should not invest any money with this company. It has been the subject of an important warning.
What is Silk Assets
Silk Assets is an investment company that is investing in equities, cryptocurrencies, real estate and other assets.
The offer of Silk Assets Investments consists of five investment plans: A – E. The minimum deposits start at 100 USD and end at 15,001 USD. The promised monthly returns range between 5.45% and 18.2%.
Deposits are accepted in cryptocurrencies only (bitcoin, ether, XRP, tether) and withdrawals will be done in tethers only (USDT).
Is Silk Assets legit?
No, Silk Assets is not a legit investment opportunity. In fact, it is an illegal investment service. This has been confirmed by the Czech national financial regulator CNB.
The CNB has warned the public about Silk Assets saying that it is abusing the regulator’s logo. Silk Assets claim to be based in the Czech Republic, but the regulator said that this company has never been authorized to provide investment services.
Silk Assets scam
We investigated Silk Assets further and came to the conclusion that it is a scam. Here is why.
Not regulated and illegal
As the CNB pointed out, Silk Assets had been abusing the regulator’s logo in its materials. It obviously was suggesting that it is regulated, but it is not. The original Czech address provided by the company was obviously fake.
The fact is that Silk Assets is offering investment services. Because of that it needs to be regulated, in has to have a license. But it has no authorization at all, which means that it is an illegal investment service in most countries.
Silk Assets investments claims on its website that it has been established in 2012 and that since then it has been earning 37% in profits every month to its clients. Well, that’s a big lie.
Should the company been consistently earning 37% per week for eight years in a row, media all over the world would be talking about it, because this is a pretty amazing number in the investment industry.
In reality there is no investment company in the world that has been able to get 37% monthly returns for several years in a row.
The second important thing is that Silk Assets exist only since 2019 as shown by the registration data for its domain. See our picture below.
Silk Assets proudly displays endorsements from Bloomberg Markets and MSNBC. A markets analyst and an editor allegedly have spoken positively about Silk Assets, but it is not true.
These reviews are completely fake, Bloomberg Markets, MSNBC nor any other media have ever endorsed in any way Silk Assets, because it is a scam.
Crypto transactions only
Finally, let’s address the fact that Silk Assets will force you to deposit in cryptocurrencies. The reason is that crypto transactions are irreversible and, to a certain degree, anonymous.
Combine it with an anonymous and unregulated investment service that is promising impossible returns and you get the full picture.
Silk Assets will collect money from people and keep it, it’s just an online robbery. And nobody will be able to get their money back, because cryptocurrency transactions are final and irreversible.
Silk Assets may be running a Ponzi scheme, which means that they could pay some profits to its users. But newer deposits will be used for that purpose, because no real profits are generated, it’s just a scam.
Silk Assets review conclusion
Silk Assets is a scam. It is an illegal investment service that at least one financial regulator has warned against. Stay away from it!
If you want to try legit crypto trading to make money, start on a free demo with a regulated broker and practice with virtual money.
Before investing real money, you have to understand the risks and build a profitable strategy.