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Greetings, forum members and guests,
I’m here to share a comprehensive review of AXEX Coin, specifically focusing on their website, axexcoin.com. Registered on January 10, 2023, through Dynadot Inc., AXEX Coin claims to be a secure platform for buying, selling, and storing popular cryptocurrencies like Bitcoin and Ethereum. However, there are several red flags and inconsistencies that we need to discuss.
Key Concerns:
1. Lack of Transparency: The absence of clear regulatory information and direct contact details on the website is unusual for a financial platform. There’s no physical address, phone number, or email provided.
2. Non-functional Terms of Service Link: A non-working link to critical legal documents like the Terms of Service is a significant red flag.
3. Victim Reports: There have been reports from users being unable to withdraw their funds. Accounts are locked, and additional fees are demanded for account reinstatement. These practices align with typical “Pig Butchering Scams.”
4. Technical Issues: The website has shown instability, and errors revealed parts of its source code were originally written in Mandarin. This raises questions about its technical robustness.
5. Warnings from Financial Authorities: AxexCoin has been flagged by various financial regulatory authorities, including the Canadian Securities Administrators and the Autorité des marchés financiers (AMF).
Personal Experiences:
We invite those who have interacted with axexcoin.com to share their experiences. Did you face issues with withdrawals? Were there any unexpected fees? Your feedback is crucial in helping others make informed decisions.
Conclusion:
Given these red flags, we advise potential investors to approach AXEX Coin with caution. It’s essential to conduct thorough research and consider working with regulated and reputable financial entities for cryptocurrency trading and investment.
Your Input:
What are your thoughts or experiences with AXEX Coin? Have you encountered similar issues with other platforms? Let’s discuss and help each other stay informed and safe in the digital finance world.
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Looking forward to your insights and discussions.
Best regards,
Adam
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Replies
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In a deceptive scheme involving Axex Coin, I suffered a significant financial loss of $10,000. The scam unfolded when I received an email from a platform that offered me a loan, which was specifically intended for cryptocurrency trading. Intrigued by this opportunity, I accepted the offer. However, the situation took an unexpected turn when it was time for repayment. Contrary to the initial agreement that implied the loan could be repaid with cryptocurrency, I was informed that the repayment had to be made in US dollars. This requirement was not only unanticipated but also resulted in a substantial monetary loss for me.
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After the event, my investigations have led me to the unfortunate conclusion that I was a victim of a “Pig Butchering Scam.” It began when I received a call on April 4, 2023, from an unknown number (+1 270-693-0021), inquiring if I was attending a party. I informed them that they had reached the wrong number, but the caller, who introduced herself as Lydia (a name I now understand to be fictitious), initiated a conversation and soon suggested switching to WhatsApp or Instagram. She provided her WhatsApp number as 323-942-5687, and we connected there.
A week into our discussions, she began explaining her earnings from cryptocurrency and inquired if I was interested. My response was hesitant as I was not familiar with the complexities of cryptocurrencies. However, she (or potentially he, as the true identity remains uncertain) offered to guide me through the investment process. She recommended downloading the Crypto.com app and then the AxexCoin App for trading. Over a period of four months, I invested a total of $20,252.50. When it came time to withdraw my funds, including the profits, I discovered that my account on Axex had been disabled, although the AxexCoin app itself remained functional.
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