A complaint has been reported about Morocoin, a fraudulent cryptocurrency exchange. The victim’s father holds an account valued at $14 million and cannot withdraw funds despite fulfilling all contractual obligations. They can access and trade within the account, but withdrawals are blocked.

The receiving addresses involved in this scam are:

1. 0x8BB206E9B74743D11BC725F38ebcac0c7207Ba08
2. 139FvMB9oh5ewMT5585vN5c6QqdKm5Ccc9
3. 0xe50b4D2f7fbd9dD2D7b69F4194aA8F64C804Eb15

If you have been scammed by Morocoin or have any information, please share your experience to help others avoid this fraud.

Domain Analysis

Morocoin.com

Morocoin.com, a domain registered with Gname.com Pte. Ltd. since November 9, 2018, has recently been scrutinized for fraudulent activity. The domain, which will expire on November 9, 2025, has been updated as recently as December 7, 2023, and is currently protected under clientTransferProhibited status. The name servers listed are a.share-dns.com and b.share-dns.net, with the registrant’s contact details redacted for privacy. The domain’s hosting is handled by Amazon.com, Inc., specifically through AWS Global Accelerator, located in Seattle, United States.

Morocoin.com has seen a dramatic decrease in traffic, dropping by 71.29% last month with only 1,500 visits, primarily from the United States. The site lacks engagement metrics like bounce rate and pages per visit, suggesting a lack of user interaction. The domain’s organic search traffic is minimal, with only three keywords driving traffic, predominantly branded queries like “morocoin.”

Morocoin.top

The domain morocoin.top was registered with Gname.com Pte. Ltd. on December 7, 2023, and is set to expire on December 7, 2024. The domain status is clientTransferProhibited, indicating that it cannot be transferred to another registrar without special permission. The registrant’s contact information is redacted for privacy, but the domain is registered in New York, US. The site is hosted by Amazon.com, Inc. via AWS Global Accelerator, with an IP address in Seattle, United States.

Despite being newly registered, morocoin.top has quickly become associated with fraudulent activity. The website’s traffic has surged, with 21,500 visits last month, a 221.6% increase, primarily from the United States. Visitors spent an average of 8 minutes and 42 seconds on the site, viewing approximately 5.78 pages per visit, indicating significant engagement despite its dubious nature.

Morocoin.top lacks detailed audience demographics but is heavily discussed on forums and websites that monitor cryptocurrency scams. Several backlinks come from scam detection and cryptocurrency discussion platforms, highlighting the site’s widespread recognition of fraudulent activities.

Morocoin Review

Morocoin.top is presented as a blockchain asset trading platform offering various services, including digital currency to fiat exchanges, spot trading, options trading, perpetual contracts, initial offerings, and financial management. The platform claims to provide cutting-edge security through Ledger Vault technology, offering insurance against theft and storing over 98% of digital currencies in multi-signature cold wallets. Additionally, it boasts 24/7 multilingual customer service accessible via live chat or email at support@morocoin.com.

The platform promotes itself as the world’s first stablecoin trading center with a robust ecosystem for trading, payment, and remittance of stablecoins. It emphasizes impeccable security measures, advanced analytical tools, and AI-based NFT issuance platforms. The site lists cryptocurrency trading pairs with detailed price fluctuations, volumes, and high/low prices, including popular tokens such as BTC, ETH, and USDT.

Morocoin.top claims to have been founded in 2018 and to hold an MSB license in the United States, positioning itself as a globally competitive and innovative blockchain asset service provider. It reports significant user engagement and transaction volumes, with daily turnover reaching $3 billion and cumulative trading volumes exceeding $5 trillion.

Red Flags

Several aspects raise red flags indicative of a scam. Despite claims of legitimacy, the registration of the domain morocoin.top is recent, dating back to December 7, 2023, and set to expire in a year. The use of clientTransferProhibited status can be a tactic to prevent scrutiny. The heavy redaction of registrant details and the use of privacy-protected WHOIS information obscure the identities of those behind the platform, a common practice among fraudulent entities.

The platform’s lofty claims of high transaction volumes, extensive user base, and robust security measures lack verifiable evidence. The sudden surge in traffic and engagement could be artificially generated to create an illusion of legitimacy. Additionally, the identical contact email addresses (support@morocoin.com) for general consultation, customer service, and media cooperation further suggest a lack of professionalism typically associated with legitimate financial institutions.

Morocoin Reviews

Morocoin.top has surfaced in numerous online discussions as a potential scam. The platform presents itself as a cryptocurrency trading exchange offering various services, from digital currency to fiat exchange, spot trading, options trading, and financial management.

However, several sources, including Reddit and ScamAdviser, have flagged it for fraudulent activities. Users have reported issues such as being unable to withdraw funds and experiencing deceptive customer service practices. Some have noted the platform’s involvement in pig butchering scams, where scammers build trust with victims before defrauding them of significant sums of money.

The domain’s recent registration date, December 2023, and its one-year expiry raise suspicions. The platform’s registrant information is heavily redacted for privacy, further obscuring the identities behind it. Reviews and comments across various platforms warn of its dubious nature, with specific allegations of operating under different names and changing identities to evade detection.

Users also mention that Morocoin.top claims to use advanced security measures like Ledger Vault and offers 24/7 customer service. However, these claims are not substantiated by verifiable evidence. Reports on platforms like ScamAdviser and CryptoScamBlacklist and user experiences on Reddit paint a consistent picture of a site that traps users’ funds without the intention of allowing withdrawals. Additionally, there is a recurring theme of Morocoin.top being linked with other scam domains, suggesting a broader network of fraudulent operations.

Complaints We Received

On April 26, 2024, a user reported being scammed by a group on WhatsApp called Wealth Lane Club. This group claimed to offer trading signals and assistance. The user signed a contract to join their Lane Wealth Club, which stipulated that funds could be withdrawn once profits reached $40,000. Upon reaching this profit milestone, the user was asked to pay a 30% commission out of pocket before the funds could be released. The user believed the commission would be deducted from the profit, not paid upfront. This requirement was not mentioned in the contract. The user highlighted that the Wealth Lane Club and Morocoin website were involved in the scam.

On May 15, 2024, another complaint involved a user unable to withdraw funds from the Morocoin platform. The user described the company as unresponsive to their support inquiries. The user received an SMS from the company without a reply. Despite several attempts to contact support, the user received no response. The inability to withdraw funds and lack of customer support has frustrated the user, who sought a resolution.

These complaints highlight significant issues with Morocoin’s operations, including undisclosed fees, withdrawal barriers, and poor customer support, suggesting a coordinated scam effort between Wealth Lane Club and the Morocoin platform.

Conclusion

In conclusion, the overwhelming evidence and user testimonials strongly indicate that Morocoin is a scam. The deceptive practices, such as requiring out-of-pocket commissions and obstructing fund withdrawals, reveal a clear intent to defraud users. Furthermore, the lack of transparency in contracts and the unresponsiveness of customer support solidify the suspicion of fraudulent activity. The coordination between Morocoin and associated groups like Wealth Lane Club underscores a broader, well-organized scam network. Users are advised to avoid engaging with Morocoin and its affiliates, as the risk of financial loss is significant, and the potential for recovery is minimal. This platform exemplifies the need for vigilance and skepticism in cryptocurrency, where the allure of high returns often masks malicious intentions.