Calling the websites running this crypto trading site lackluster would be a compliment. They are poorly designed and poorly made, with many non-functional and broker features.
Some of the domains of this self-proclaimed cryptocurrency exchange have already been filtered out by the browser’s security measures. The rest are equally dangerous, as you will see in our CoinexMex review.
| Regulated by: | Unlicensed Exchange |
| Is This Company Safe? | No, do not trust your funds with unregulated firms! |
| Known Websites: | coinexmax.net
coinexmax.us coinexmax.hk coinexmax.com coinexmax.org |
| Have Warnings from: | ASIC, CONSOB, IOSCO |
| Registered in: | USA (alleged) |
| Operating since: | 2023 |
| Trading Platforms: | Web Trader |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Crypto Pairs, Crypto Futures |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Contact our experts for help with asset recovery. |
Hiding Behind Nonsensical Documents
The company that calls itself CoinEx Global is a fraudulent organization operating numerous similar sites. As a proof of legitimacy, they cite a FINCEN MSB registrant under the name of coinftx.
Strange, seeing that inclusion into the MSB registry does not constitute any certification of legitimacy in the first place. Another strange thing is that the mentioned company does not match the presented CoinexMax exchange credentials at all.
The company websites also contain a state of Colorado “certificate of good standing”, which would have very little to do with financial regulation even if it were a genuine document. This is not the first time we’ve seen various fraudsters use quasi-legal documentation to deceive their victims.
The fact of the matter is this: the would-be exchange is not registered or licensed by any regulatory authority, including NFA, AUSTRAC, BaFIN, FINMA, CySEC or other. Furthermore, there are a number of outstanding warnings issued by ASIC, CONSOB and IOSCO.
Plenty of Clone Sites
The involved domains were launched in a span of a few months, the earliest of which was now defunct coinexmax.com from April 2023, followed by coinexmax.net in July.
It’s worth noting that not all of the sites target the same audience. Some of them were optimized to run on mobile devices, like is the case with coinexmax.us and coinexmax.hk, and coinexmax.org. The target areas remain similar:
- United States
- Italy
- Canada
Employed strategies involve contacting potential victims through use of dating applications, something known as a romance scam. The cruel tactic involves manipulation through a fake romantic relationship, something other cons like Everest Trust don’t shy away from either.
The absence of any CoinexMax reviews could be considered another warning sign, especially since the exchange claims to be a well established institution. Should you require help recovering money from these swindlers, contact our experts.
Costs Unrevealed
One certain sign of the company trying to attract unsuspecting victims while being completely illicit is the lack of honesty. Transparency is crucial when it comes to safety and profitable trading conditions, yet this firm shows none.
It’s impossible for all services to be completely free – the platform would have no purpose in the eyes of its owners. That’s why you should not trust such claims and always approach similar deals with caution.
Dull Features With Little Reliability
From margin and currency trading to crypto staking, all features on the site are non-functional. The major reason for that is the fact that the site is completely unsafe. Your browser will block access to the majority of website elements. We investigated the current state and all sites behave the same.
Defunct and Simple Web App
The CoinexMax app is accessed easily, even without prior registration. The basic functions involved buy and sell options as well as volume selection, for example.
However, any advanced functionality is absolutely out of the question. If you attempt to preview the graphs, you’ll only get a broken page as a result of the warning imposed by your browser security extensions or antivirus reaction. That’s enough of a sign to stay away.
Small Instrument Selection
Allegedly specializing in handling cryptocurrency based assets, the firm prominently advertises a few of the most popular coins as tradable. Compared to the listings found on many mainstream exchanges, numbering in tens of thousands of coins and tokens, this offer is microscopic.
CoinexMax crypto investors can opt to trade on the spot or futures markets:
- Cryptocurrency Pairs – BTC/USDT, ETH/USDT, DOGE/USDT, XRP/USDT
- Cryptocurrency Futures – LTC/USDT, SOL/USDT, ATOM/USDT, AVAX/USDT
Fake Token Rug Pull
The con artists are running a parallel crypto rug pull as well, using an unknown MORBION token. Although the schemers appraise the token value at 8839 units of some unnamed currency. They also promise the instrument to appreciate by a factor of 10 in a 90 day time interval, which is unrealistically optimistic at best.
Registration Procedure
The only details you’ll need in order to sign up for this portal are an email address and your unique password.
To properly use any of the website functions and features, you’re forced to pass a simplified KYC. This involves sending photos of both sides of your national ID. The same is mandatory for withdrawing, although it isn’t clarified what the minimum CoinexMax deposit would be, or what account types are there.
Unidentified Fees on Payouts
Following the same old scam behavioral pattern, the company doesn’t provide a Withdrawal Policy or other legal papers pertaining to payouts.
The stolen legal documentation suggests that all withdrawal fees are paid upfront, if the client intends to be allowed to perform this action.
Beware of such traps, as they’re another form of defrauding that aims to extort more money before the fraudsters deny your withdrawal attempts and vanish. Other schemes like ChangeHero are known to use this tactic as well.
Inactive Support Links
How nice of these miscreants to be always at the clients’ disposal! Unfortunately, all of the social networks links are inactive, where the support crew allegedly operates. There’s no other way to get in touch with the platform customer service, as there’s no email or phone number revealed.
Lost Money On Online Fraud? We Can Help!
The operation behind these illicit websites is known as a romance scam. The exchange itself offers no redeeming qualities, with bad site layout, even worse implementation and completely useless CoinexMax DeFi and trading software. It’s just one big bamboozle from start till the end.
Don’t count on these charlatans returning your money out of compassion or good will. Recovering lost funds requires legal action! Book a free consultation with our experts when you’re ready, and let’s start working on getting your money back together!
FAQ Section
What is CoinexMax?
It is a fraudulent operation that uses one of the most devious fraudulent strategies, the notorious romance scam.
Is CoinexMax a Legit Exchange?
No, the company is totally illegal, and is not licensed or regulated by any regulatory institution.
What is CipherTrace?
It is a specialized software toolkit that allows tracking crypto transfers. Contact our professionals to learn how it can help you recover your stolen coins.
Source:
https%3A%2F%2Fscambrokersreviews.com%2Fcrypto-scams%2Fcoinexmax-review%2F
