Technical Review: FastInvest

Updated: 14.05.2020

Welcome to the FastInvest technical review. Let’s look into the gory details of FastInvest.

Bad Press

Here are the blog articles I’ve found regarding bad press for FastInvest:

And there are plenty of reports on Twitter and myself included that the withdrawals are not being processed nowadays.

Owners/Team public

FastInvest lists 24 people for the whole company:

  • Simona Vaitkune (CEO)
    • Seeingly removed her picture in LinkedIn or never had one? Not very professional, no previous work experience beside FastInvest? Not even an internship? – RED FLAG
    • Twitter account is not actively used, probably busy with getting away from authorities?
  • Ina Mosiejauskaite (Chief Analyst)
    • Stopped working at FastInvest in May 2020? Was there a layoff we don’t know about? – RED FLAG
    • Seemingly has some legit previous work experiences and education. However who needs 5 years for a bachelors degree?
    • Has a matching Facebook profile
  • Paulius Tumosa (CTO)
    • Doesn’t mention any involvement in FastInvest on his Facebook Profile, I would be proudly listing it if I was CTO of a company – RED FLAG
    • Lol at the Instragram Profile at least no sign of excessive money wasting
  • And a merry band of other employees
    • Rich kid marketing guy that seemingly went to Harvard
    • A few people that only started last October/November

There are a total of 23 people on the LinkedIn company page. Many seemingly less than 12 months with the company, few there forever.

Company Records

These are the company records I’ve found related to FastInvest:

  • FAST INVEST UAB
    • The company register claims that there are 24 employees which does match with the teams page and the LinkedIn profiles.
    • Average salary ~2 000 EUR pretty decent for an eastern european country
  • FAST INVEST LTD
    • Company was called BIG CREDIT LTD from 2012 – 2015, some blogs reported about this before.

Not much information in the company records. No information about actual owners besides Simona. Also no information about revenue or capital.

Technological Analysis

Webhoster

The fastinvest.com is running on Amazon Web Services. Generally a good choice of hoster.

DNS Records

Whois Records for fastinvest.com:

  • Is completely obfuscated, no address and no contact available – RED FLAG
  • Domain was registered in February 2005 was probably bought later
  • Last updated in March 2019 (migration to AWS?)

I don’t see a legitimate reason to hide DNS whois records for legal businesses to be honest. They do run on AWS which is used by millions of other companies so that’s not a problem.

Available in different countries

Inspired by Kristaps Mors FastInvest article I checked if the FastInvest homepage is reachable from different countries:

They seemingly learned from the Blogpost of Kristap Mors and made sure that the homepage is reachable from everywhere.

Withdrawal Time

I personally have three withdrawals of almost 900 EUR pending since the 1st of April, looks like a joke to them? – SUPER RED FLAG (counts double)
I got one withdrawal from them before April 2020 but none since then.

Verdict

We had a total of 6 RED FLAGs. They still aggressively advertise and try to lure people with up to 18% interest rates into investing. However I’m clearly not the only one with issues getting the withdrawals processed so I have to categorize them as scam for now.

I give FastInvest a 95% SCAM verdict. DO NOT INVEST IN THIS PLATFORM!

Let me know in the comments what you think.

One Reply to “Technical Review: FastInvest”

Leave a Reply