Most active in the United States, under the jurisdiction of courts of Malta, yet also licensed by AUSTRAC. None of these alleged truths make up for a case of a credible virtual assets service provider that the Celinax crypto scam tries so hard to come off as.
Without being properly licensed and with zero security measures, it is obvious that cyber thieves operate this site with only one goal: to steal investments. Read more how this scheme operates and how you can protect yourself in the following Celinax review.
| Regulated by: | Unregulated Exchange |
| Is This Company Safe? | No, this company is a fraudulent scheme designed to rob crypto traders. |
| Known Websites: | celinax.com |
| Have Warnings from: | N/A |
| Registered in: | N/A |
| Operating since: | 2024-02-27 |
| Trading Platforms: | Web |
| Maximum Leverage: | N/A |
| Minimum Deposit: | 0.003 BTC + fees |
| Deposit Bonus: | N/A |
| Trading Assets: | Crypto – BTC, USDT, ETH, LTC |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Payouts are blocked for everyone. You should consult our legal advisors on how to start a chargeback. |
Legal Info Doesn’t Add Up
Despite the claims about the Celinax exchange operating under the strict regulatory laws of Malta and being licensed by AUSTRAC, legal registers say otherwise. First of all, Malta has strict regulatory standards regarding the supervision of crypto providers and the MFSA database doesn’t contain an entry that matches the name of this firm.
Furthermore, AUSTRAC and ASIC registers of financial markets participants also have no companies under this name registered. This trading portal is, by all means, a sham, and operates without proper supervision. We made sure of that by combing through other registers, such as FCA, CySEC, BaFin and CNMV.
Such unscrupulous campaigns are known to be short-lived. For example, BiterCoin displayed similar scam tendencies and vanished altogether after no more than a year of activity.
Unbelievable Prizes Hypnotize Targets
Created in February 2024, this unscrupulous campaign promotes unrealistic rewards and shamelessly claims to be a professional investment platform only to attract more victims.
These crooks don’t shy away from using bots, AI-generated promotional videos and fake bonus systems in order to gain traffic. One of the latest additions is the fake celebrity endorsement.
Unfortunately, this has proven as quite an efficient strategy in the following countries:
- United States
- Germany
- United Kingdom
- Netherlands
- Italy
Blank Fees Page
The web page that should otherwise explain how fee structure works is as empty as the promises these cons make about high returns. Therefore, trading fees remain a mystery.
On the other hand, legal papers do provide some insight into payment and transaction fees. For example, activating a trading account costs 0.003 BTC plus fees, made in a single payment.
Besides standard trading fees, an additional 5% Celinax commission applies to any transaction. After a time all users are forced into buying a Premium account that features a 2.5% tax on deposit to be activated.
Referral Commission and Other Prizes
The platform features a special Celinax bonus on every referred customer. Each time your affiliate pays fees, you allegedly get 40% of that amount, plus your trading fees are reduced to 0.1%. A bit too good to be true, isn’t it?
As an additional source of motivation for the victims to keep investing, the homepage promotes a large-scale drawing of dozens of cybertrucks, Teslas and Starlink satellites and prizes! How realistic does that sound for a completely anonymous service provider?
Unappealing Trading Features
The fact that the majority of crucial elements are covered in a veil of secrets is just one source of issues. Another lies in the structure of the trading environment that isn’t at all attractive. The Celinax app is far from reliable and the number of assets is quite narrow, while everything is expensive beyond reason.
Portal Doesn’t Accept Orders
Unless you deposit real cash right after creating your Celinax login, using the web terminal is not possible. No loss there apparently, since the defunct portal isn’t connected to a live server anyway.
No price panel moves and the data shown in the existing layout is painfully outdated. That serves as another proof of the entire trading ecosystem being severely manipulated by the cons that run the scheme.
Groups of Trading Pairs
The number of available assets isn’t remarkable and no Celinax reviews compliment the offer. However, here are some examples of the available groups of tradable instruments inside the platform:
- BTC/Crypto – ETH/BTC, BCH/BTC, SOL/BTC
- ETH/Crypto – BNB/ETH, XRP/ETH, LTC/ETH
- USDT/Crypto – ADA/USDT, DOGE/USDT, DOT/USDT
Standard VS Premium Users
Not explicitly described as account types, these two packages are all that is offered to newly joined users. The site doesn’t give a clear picture of what these account variants include but it is said that Standard users enjoy less benefits. Premium membership costs 0.01 BTC plus additional fees.
Either way, all clients who have invested more than 0.165 BTC are obligated to buy Premium status in order to unlock withdrawals.
False Payout Information
Probably one of the most attractive lies presented by this con artist is the one concerning the Celinax withdrawal. According to the site, all payouts are handled in 24 hours at most.
However, legal docs introduce a series of obstacles, such as unclear trading volume requirements, special fees and additional commissions that could change without any prior notice. All of these are what is commonly used by unregulated brokers like SFCap in order to deny access to funds and reject all withdrawal requests.
Support Can’t be Contacted
Not a single communication channel is presented for users in need of support and guidance. If you find yourself struggling with using any of the features or being unable to perform a transaction, well tough luck buddy – nobody cares. Not even a basic email address is revealed, let alone a phone number or live chat.
How to Report Issues
It is apparent that the barely functional website we’ve reviewed was created with a single purpose of leading crypto investors into a financial trap.
Even if you started investing and have decided to wish to take your funds back, don’t think it’s too late. Just contact our legal advisors and acquire all the information and legal support you need in order to trace your crypto payment. Our consultation services are free and you can book your meeting with our chargeback experts at your convenience.
FAQ Section
What is Celinax?
The website is an investment trap, created by cyber criminals that wish to steal crypto deposits.
Is Celinax Exchange Regulated?
No, the firm lies about an AUSTRAC license and being regulated under laws of Malta, but checking this information, we proved it was all forged.
What is CipherTrace?
This is a specialized software used by our legal team in order to track the crypto transaction and determine where the stolen assets went, so contact us for help with such matters.
Source:
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