My younger brother Alex recently became a victim of a deceptive crypto lending scam involving a platform named “CoinLendMax.” The website claimed investors could earn passive income by lending cryptocurrency at high-interest rates with minimal risk. The platform appeared genuine, complete with professional-looking graphics, clear explanations, and glowing user testimonials.

Excited about the prospect of earning passive crypto income, Alex deposited around $2,500 worth of Bitcoin into the platform, expecting to receive regular interest payouts. Initially, the platform’s dashboard showed impressive returns, boosting Alex’s confidence and leading him to increase his investment further.

However, when Alex attempted to withdraw his profits, the platform suddenly introduced hidden fees, demanding additional payments for “insurance,” “processing,” and “verification.” Realizing something was off, Alex became suspicious and refused to send further payments.

Almost immediately after Alex refused to pay these new fees, the CoinLendMax website vanished entirely, along with all customer support contacts. Further online research confirmed Alex’s worst fears—the platform was an elaborate exit scam, preying on investors with promises of passive income and vanishing after stealing their cryptocurrency.

This distressing experience highlighted the necessity of thoroughly researching crypto lending platforms, being wary of promises of high passive income without clear business models, and carefully avoiding platforms that introduce sudden, unexplained fees.