OEX may provide or promote financial services or products without regulatory permission. You should avoid dealing with this firm and beware of scams.

Almost all firms and individuals must be authorized by the FCA to carry out or promote financial services in the UK. This firm is not authorized by them and may be targeting people in the UK.

Unauthorized firm details:

• Name: OEX
• Websites:
• https://www.oexgeek.xyz/#/
• https://oexbake.com/#/ – OEXBake Review
• https://instoex.com/#/
• https://oexround.club/#/
• https://www.oexhugo.xyz/#/
• https://www.oexhugo.com/#/
• https://oexgeek.vip/#/

If you have been scammed by OEX or any of these websites, please share your story.

OEX is an unauthorized entity providing or promoting financial services without permission. The firm’s website, oexbake.com, was registered on January 2, 2024, with the registrar Gname.com Pte. Ltd., and is set to expire on January 2, 2025. The registration details indicate that the registrant’s information is redacted for privacy, but it lists Manila, Philippines, as the registrant’s location. The website is hosted by Cloudflare, Inc., with servers in Toronto, Canada.

The scam involves fraudulent transactions where users report that withdrawals from the platform do not appear in their wallets despite being marked as successful. This has led to numerous complaints and suspicions of fraudulent activity. The site uses Cloudflare’s services, making it more challenging to trace the actual location of the servers.

Individuals have reported that their transactions remain “stuck in the blockchain,” with no support or resolution from the website’s administrators. The site has minimal organic traffic and backlinks, suggesting it is newly established and possibly created solely for fraud.

On February 17, 2024, we received the following complaint:

I was introduced to crypto trading by a friend who has since vanished, leaving me clueless about how to recover my BTC from a website called OEXBAKE.com. Through learning and trying out, I accumulated a whopping 1951.8591 BTC. Now they are refusing to let me withdraw into my Coinbase wallet, stating that I need to provide 1% of the total assets and transfer it to a one-time address that will be provided to me. Once they receive this, they claim they will allow the relevant transfer.

On May 21, 2024, we received another complaint from a person who reported being scammed for over $40K:

I created an account on OEXhugo but cannot withdraw my money.

Victims are encouraged to share their experiences to help others avoid falling into the same trap.

Hello Tariq,

Thank you for sharing the details of your interaction with OEXBAKE and the subsequent difficulties you’ve encountered with your account being frozen. We understand how distressing and frustrating it must be to find yourself in this situation.

Based on the information you’ve provided, particularly the request for a deposit of 5000 USDT to unfreeze your account, it is a common tactic employed by fraudulent platforms to extract more funds from their victims. Legitimate financial and trading platforms do not require payment to unlock or unfreeze accounts in this manner. This practice is a red flag indicating a scam.

It’s crucial to approach this situation cautiously and refrain from sending any additional funds to the platform or any associated addresses. Doing so would likely result in further financial loss without resolving the issue.

Stay vigilant and informed,
Adam
ScamCrypto.net Team

On February 25, 2024, we received the following complaint regarding an investment scam by a person who reported being scammed for 42,791 USDT.

Scam Website: https://oexbake.com/#/login

Description of the Incident:
The victim reported that attempts to withdraw small amounts of USDT were continuously denied without any clear explanation.

Chat Transcript Overview:
The chat began on February 24, 2024, at 8:49:04 AM and ended at 9:03:54 AM with an operator from a company named okex888.

Key Points from the Chat:

• The victim inquired about the minimum and maximum withdrawal limits.
• The operator requested the victim’s email address, which was initially provided incorrectly and then corrected.
• The operator informed the victim that the minimum withdrawal is 10 USDT and there is no maximum limit, depending on the user’s choice.
• The victim expressed frustration about his withdrawals being rejected and sought clarification on the issue.
• The operator responded with unclear instructions, urging the victim to follow previous advice to avoid losses and technical issues.
• The victim repeatedly asked for help regarding the withdrawal rejections and requested someone knowledgeable in withdrawals.
• The operator concluded by warning the victim that his account would be automatically frozen the following day as per technicians’ advice and reiterated the need for the victim to resolve the issue as previously instructed.

Hello Tariq,

We’re very sorry to hear about your situation with OEXBAKE and the trouble you’re experiencing with withdrawing your USDT. It’s important to address such issues promptly, especially when they involve significant sums and impact your financial well-being.

Given the details you’ve provided, it seems like you might be dealing with a platform that’s not operating in good faith. Dealing with such entities can be challenging and often requires a nuanced approach to navigate the complexities of recovering funds.

CNC Intelligence specializes in assisting individuals affected by scams, including issues related to cryptocurrency transactions and withdrawals. Their team of experts has a wealth of experience in dealing with complex cases involving digital assets and can provide you with the guidance and support you need to address this situation effectively.

We encourage you to schedule a free consultation with their team. During this consultation, you can discuss the specifics of your case, explore potential strategies for fund recovery, and determine the best course of action moving forward.

You can contact them directly through their website or contact their support team to set up your consultation. Remember, taking prompt and informed action is crucial in situations like this.

Stay safe,
Adam