I want to share my story about how I lost over $3,000 using a crypto exchange I knew little about. It’s been a tough experience, but if my story can help someone else avoid falling for the same trap, it’s worth sharing.

A few months ago, I was looking for a crypto exchange that offered lower transaction fees. A friend recommended a platform they’d heard about, claiming it had lower costs and more trading options. I did a quick search and found the exchange. The website looked professional enough, and there were a few positive reviews online, so I decided to give it a try.

At first, everything seemed fine. I deposited $3,000 worth of Bitcoin to start trading. For the first few weeks, the trades went smoothly, and I was happy with the results. But when I tried to withdraw my funds, I encountered a problem. The platform suddenly required “additional verification,” which meant I had to send in more documentation and, shockingly, pay a $500 verification fee. I was confused since legitimate exchanges never charge withdrawal fees like that. Still, I sent the documents but refused to pay the fee, and after that, my account was locked. I couldn’t access my funds anymore.

That’s when I realized this exchange was a scam. I did more research and found out that the platform had been flagged on several forums, but by then, it was too late for me.

What I’ve learned is this: Always stick to well-known, reputable exchanges. Don’t be tempted by promises of lower fees or better rates on platforms that you don’t fully trust. Keep yourself safe and keep others safe by reporting these scams, and always double-check before trusting any exchange with your hard-earned money. I wish I had been more cautious, but at least I can warn others now.