Cryptocurrency exchanges and trading portals run by various financial frauds do not have the necessary permits to operate. The Depnix scam is exactly the same – they offer bonuses, high returns and questionable trading tools to attract as many victims as possible.
You must already guess the outcome of such risky trading endeavors: lost funds and emotional distress. So please pay attention to the key aspects of this Depnix review that exposes the sham of a failed crypto exchange.
| Regulated by: | Unregulated Exchange |
| Is This Company Safe? | No, this company conducts business without the mandatory licenses! |
| Known Websites: | depnix.com |
| Have Warnings from: | N/A |
| Registered in: | Malta (alleged) |
| Operating since: | 24.11.2023. |
| Trading Platforms: | Web |
| Maximum Leverage: | Not available |
| Minimum Deposit: | N/A |
| Deposit Bonus: | No |
| Trading Assets: | Crypto |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Withdrawals are impossible with scammers! Contact our legal team for help. |
Unknown and Anonymous
The nameless company owning and running the website in question doesn’t share any of their crucial corporate information. Therefore, we had to explore the legal docs. There, courts of Malta are mentioned to have exclusive jurisdiction over the conduct. However, MFSA doesn’t have the dubious firm in their register of regulated virtual asset providers.
Moreover, the Privacy Policy claims that the business owns an AUSTRAC license, issued under the umbrella of ASIC. This is yet another fabrication, as this regulator keeps an updated database of supervised entities and our little scammer in question definitely isn’t a regulated firm.
StoxDC operates in a similar manner, and has, therefore, attracted negative attention from authorities. It’s just a matter of time before this swindler gets blacklisted as well.
Known Fraudulent Scheme
The depnix.com site was launched in November 2023, and so far there haven’t been any Depnix reviews. The frauds target the citizens of these countries:
- United Kingdom
- United States
- Canada
- Romania
Many of the Depnix exchange victims hear about the site through misleading TikTok videos. This time, they’ve chosen the persona of Elon Musk for their DeepFake content.
The scheme encourages people to invest with the fraudulent company in an effort to get their “free crypto” out of the platform. Additionally, it functions as a phishing scam that tries to get DeFi wallet keys, and clean them out in the process.
Cryptocurrencies are notoriously difficult to trace and reverse, and require help from an expert. Find out more through a free consultation with our professionals.
Trading and Transaction Fees
Fee structure follows a certain hierarchy that you climb the bigger turnover you make. In accordance with that scheme, starting Taker/Maker fees are 0.075% if your turnover is lower than 30 BTC monthly. The maximum discount is unlocked when you achieve a turnover of 20.000 BTC, which reduces Maker/Taker fees to 0.035% / 0.045%.
There’s also a deposit and withdrawal fee that differs depending on the digital currency you choose. For example, deposit fees for the BTC investments are 0.00003, while withdrawal fees for this currency apply in the sum of
0.00008 BTC.
High Referral Bonuses
The more friends/family/colleagues you convince to enter this vicious circle, the higher your rewards are promised to be. For example, when your referral invests, you get 40% of the total sum of fees they pay. This also unlocks trading commissions of 0.1% of their trades. Withdrawal conditions of these bonus incentives are not revealed.
Features That Keep You Occupied
Let’s be clear about one thing: there is no actual trading done on the website. Anything that resembles trading is intended just to keep the victims spending their money. The amenities are beyond basic, and not even comparable to what you should expect from an actual exchange.
Web Based Platform
Depending on which service you’d like to use, speculation or FIAT to crypto conversion, you’ll use different portions of the website. It doesn’t even take a Depnix login to use them, you just click on a link and it opens. That’s how secure everything is.
As for the trading apps themselves, they closely resemble some kind of a Web Trader, but are completely devoid of any advanced functions otherwise.
Poor Asset Selection
Selection of assets is miserably slim when compared to a mainstream crypto exchange. They include crypto pairs like BTC/USD, ETH/USDT, DOGE/USDT and RUNE/USDT. Some form of Depnix staking is also supported, but how this works is not elaborated on the site.
Trading crypto for FIAT currencies is not handled through the Depnix crypto exchange, but through 3rd party services. Even this is not an honest business – all of the listed providers are scams in their own regard.
Registration Terms
Opening an account requires non-conventional and less safe email addresses, in order for the fraudsters to access your sensitive data easier. If you manage to bypass this difficulty and if you decide to abide by these ridiculous rules, you can register for a new account in a matter of seconds and immediately access the Depnix app.
That opens a way to the client panel, where instead of the popular account types, you can choose a staking plan with the estimated APY of 30%. Several coins are accepted for staking, and the minimum amount for BTC is 0.01 BTC.
Withdrawal Page Doesn’t Work
The client area does seemingly allow processing investments, payouts, and some sort of internal financial transfers, but it’s another game of pretense. Like with the Cambrill bamboozle, any claims of withdrawal are far removed from the truth.
More often than not, the site just glitches out when you try to make any sort of financial request. We can help you resolve these issues – book a free consultation with our experts to start your recovery procedure.
Support Tickets Ignored
Since there’s no dedicated email and phone line for reaching out to support offices, you can only rely on a simple online form.
This is only accessible from the user area, while the website visitors without a profile cannot access even that much. Registering also provides access to the online chat that seems to be run by a bot and that no one replies to.
Swindlers Took Your Cryptos? We Can Help!
This site is one of many identical crypto hoaxes that were launched around October and November of 2023. There’s nothing of value to be found here – the entire site, and all of its features are intended to efficiently part you from your hard earned money.
Reversing cryptocurrency transactions is a difficult operation because of how these volatile assets function. If you require professional aid in the matter – you’ve come to the right place! Our experts are available 24/7 via the live chat, and our first consultation is free of charge.
FAQ Section
What is Depnix?
The firm is a total mess of a crypto exchange portal without a known owner and without a valid license.
Is Depnix a Legit Crypto Exchange?
No. The conduct is not as licensed as they claim to. AUSTRAC has never issued a license to them.
What is CipherTrace?
CipherTrace is a software specialized for tracing crypto transfers and determining the wallet owners.
Source:
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