Do you mind to elaborate on what it is that make you suspicious about them?
- The website looks from the 2000s (nothing bad about it, just not really common)
- The software looks, well, from the 2000s too.
- They claim to be the safest and best way to communicate and whatever yet all the software is closed source
- They claim they use advanced encryption algorithms and that everything is super secure but there's almost 0 technical information besides saying they use AES. They don't explain why their system is secure, they just say it is. This should be the biggest flag.
- They use their own DNS system. They say it can't be controlled and that it's implemented in a secure way, but again, no proof of any of that so basically they could just be sending you to their own servers cloning other websites to steal your data.
- Their crypto is only exchanged in one shady exchange and the volume is pretty much nonexistent (With $1000 you can tank the price 50%)
- Their other crypto (Utopia USD) is advertised on the site but has never been used. They claim it's backed by $1M DAI but they just link an address holding $1M DAI, nothing related to Utopia there.
- Their crypto has a total of 294784 transactions in total and less than 30 on average per day (in the last few months). Most of those transactions are probably from the creators themselves.
- The company running it is registered in the UK on a registered office (one of those where you pay $50 a month and there are tons of companies registered to the same address). It was also formed by two
Seychelles IBCs
- The creator apparently calls himself Crypto Cat
- "Over the past 6 years, a group of developers united by a common and global mission has created this perfect and exceptional product for you". Mysterious developers led by a guy named Crypto Cat on a mission to develop a perfect product for YOU. Not sketchy at all. This phrase should be enough to stay away.
- Take a look at the videos here and don't tell me it doesn't look like a scam ->
Watch - Utopia P2P Ecosystem
- They claim they care about privacy yet they're tracking website visitors using matomo
And probably more stuff can be found