Consumer complaint received 2021-04-23
Company: Foris DAX, Inc.
State: TX
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Managing, opening, or closing your mobile wallet account

Complaint:
I WAS LEAD TO believe by the advertising of this company called CRYPTO.COM that it allows the patron to control, invest, deposit or withdraw funds such as bitcoin companies like XXXX  or XXXX XXXX. These two companies are developed and mined in the United States. I found out later, after I invested my money that CRYTO.COM is a foreign company base out of XXXX. They take your money, charge enormous fees and seize your money and do not allow the patron to invest in the bitcoin of their choice. Then they make it almost impossible to make withdraws back to your Bank account as your given ultimatums to sign their forms after you have already made several deposits. Then they seize your money for 180 days so they will use the patrons money to make money for themselves at interest rates very high and invest the patrons money in risky bitcoin. Then if their is a loss in the invest ment the patron losses their money, but if their is a large profit Crypto.com keeps the profit for themselves on a daily bases and pay the patron only 10 % on any funds left in their account aAT THE END OF THE 180 days, So you are lead to believe you have control of your own funds, that is, until the deposit is made then you basically lose all control of your invested funds and receive a Debit /Visa card in the mail two weeks later that you can not withdraw any funds from until 180 days later. 

So you have no control of your invested money and trying to get help or speak to a real person about your problem is difficult at best. After about 20 tries with the number they give and going through a difficult set of questions im told i will receive a phone call back or an ema I l of some type investigating the problem. 
However if you say to the machine that you are a new customer wanting to invest money, ha, well after about a 30 minute hold time your put through to a young man who speaks broken English only knows how to say " NO ''. 

He said my money was locked away and I could not withdrawn Any funds until 180 days later because he said the money was, " Stake funding ''. 

However, if their are any losses from the. investments of your funds you lose your money, as the money seems to deplete slowly at times and jumps back and forth- up & down. 

This company named CRYPTO.COM makes money regardless of the patrons losses or gain. So say at the end of the 180 days your {$5000.00} investment is down to say {$1500.00}. They promise to pay you 10 % of that balance for using your money!. And the young man said their was no way I could invest my own money or get my original investment of {$5000.00} back just days after I tried using their complicated format which leads the patron into unwittingly allowing CRYTO.COM full control of your money to invest or spend your money on reckless investments, which can lead to the loss of your entire funds. I feel like this is a new start up company and do not yet have the platform to invest anyone 's money. 
I really believe this company should be sanctioned from doing business in the United States as Older investors or military personnel could invest in this company that imitates an established investment brokerage company. 

Then when they are deployed and need their funds they would not have the ability to withdraw their funds. The funds would either tied up for 180 days or gone because of risky uneducated investing by novice unregistered brokers. Why? Because their bitcoin crypto platform is either not properly maintained or this company is seeking older novice investors or military personnel to use and scam the profitable high interest rates paid by high dollar XXXX 's!!!!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation