Algorithmic trading promises backed by manipulated backtests and fake auditor letters — an investigation into CryptoNest Pro’s fraudulent copy-trading operation.
The Product Claims
CryptoNest Pro marketed a “fully automated AI copy-trading bot” claiming consistent monthly returns of 8–15%. The firm provided prospective clients with detailed performance reports purportedly audited by “Meridian Financial Auditors Ltd” — a company that does not exist on Companies House.
The Reality
InvestorWatchdog obtained internal communications showing that the “performance reports” were created in Excel by a team member with no financial qualifications. The backtests were manually adjusted to show profitable outcomes. No actual trading algorithm existed.
Regulatory Status
CryptoNest Pro is not authorised by the FCA. It is registered in Seychelles. The FCA has added it to its Warning List. The firm has not responded to InvestorWatchdog’s right of reply request.
Victim Impact
InvestorWatchdog has identified 23 UK-based victims with combined losses of approximately £1.8 million. Several victims were introduced to the platform through a network of paid “brand ambassadors” operating on LinkedIn.