Suspected scam investment firms ‘exploiting Trustpilot review system’ | Scams
Investment companies suspected of fraud are exploiting Trustpilot’s rating system by giving themselves five-star ratings to convince potential investors that they are legitimate businesses, a report has warned.
An investigation by verification firm KwikChex found that operators use fake reviews, fake certificates and stolen corporate identities to lure victims.
One operator is being promoted as a regulated law firm that can help investors recover lost money, despite not having any listing with the Solicitors Regulation Authority (SRA).
“These scammers see Trustpilot as a vital part of their playbook,” said Chris Emmins, co-founder of KwikChex.
According to the report, scammers are creating networks of fake reviewers who leave glowing endorsements for multiple affiliated companies while attacking their competitors.
Patterns in posting behavior and language use revealed clusters of suspicious reviews, while cross-checks of business information raised red flags such as virtual office addresses and fake incorporation documents.
In many cases, KwikChex said it discovered fraudulent companies using cloned websites and fake certificates.
Trustpilot responded to the report by launching an investigation and removing many reviews that had a significant impact on companies’ ratings. A review page was also removed.
Fake reviews have become a business, with companies dedicated to selling positive or negative feedback online.
In response, regulators such as the UK Competition and Markets Authority have made it illegal to commission or host fabricated feedback. These measures aim to restore consumer confidence, but critics question whether the market can be contained due to its scale.
Trustpilot uses artificial intelligence software to detect fake reviews. The company removed 7.4% of comments posted in 2024; This rate was 6.1% the previous year.
The vast majority of removed reviews were automatically removed by AI because it detected patterns that signaled concerns.
One of the companies with a 4.7 star rating was Crypto-Benefits247. After the company was flagged by the Guardian, Trustpilot removed some of its positive ratings and its score dropped to 2.8. The Financial Conduct Authority warned the firm could be operating illegally. KwikChex found that Crypto-Benefits247’s certificate of incorporation was fake and crudely edited from another company’s legitimate document.
One star rating comes from someone who says he lost more than £65,000 to Crypto-Benefits247 after being tempted by small, successful withdrawals before the company started inventing fees for certificates, upgrades and “activation keys”.
Another company, Oakvests Crypto, had a 4.5-star rating but used a video on its website from the general manager of a different business, Oakvest. David Wells, Oakvest’s chief financial officer, said: “We are grateful to KwikChex for alerting us to this identity theft and wish them success in tracking down the fraudsters.”
Since the account was flagged on Trustpilot, Oakvests Crypto’s rating has dropped to 3.2 and some reviews have been removed.
With 4.1 stars out of 82 reviews, Quantum Recovery Law Group bills itself as an asset recovery law firm. The SRA has issued a fraud alert against this. Trustpilot removed the account after KwikChex presented the findings of its report.
Because such organizations often imitate or reference real businesses, the companies’ full names are used in this article.
Emmins said: “The successful use of fake reviews undermines every legitimate business working to build a genuine reputation. Meanwhile, scammers are using Trustpilot to polish their lies.”
KwikChex has called on Trustpilot to drop its “find a company you can trust” slogan and stop using “verified” banners in reviews, warning that the platform’s system is too easily exploited. In response to this specifically, Trustpilot said: “As we have not seen the report in question, we cannot comment on its findings at this time.”
None of the companies identified by KwikChex responded to the Guardian’s attempt to reach them for comment.
A spokesperson for Trustpilot said it takes the accuracy of reviews extremely seriously, adding that its systems are always learning and “don’t always come to the right conclusion.” That’s why the community is encouraged to flag questionable comments, they said.
“We have taken action against previously mentioned companies by removing fabricated reviews and issuing both warnings and legal cease and desist letters for guideline violations,” the spokesperson said.
“As more concerns were raised, we launched a deeper investigation and removed other fabricated comments from each profile. A consumer alert now appears on each profile warning consumers about these companies. Our investigation is ongoing.”
Trustpilot said it continues to “strengthen” its systems to stay ahead of “evolving tactics.”
