In the endless sea of online cryptocurrency scams, cyber fraudsters often have an appealing website and tempting offers. They adopt neat designs to fool unwary users into thinking they communicate with legitimate firms.
In our Cryptolava review, we expose one such wrongdoer. The exchange we’re covering is not a friendly provider. Read our text to learn how to identify crypto schemes and what to do if they cunningly steal your funds.
| Regulated by: | Unregulated Crypto Exchange |
| Is This Company Safe? | No, the platform is unregulated |
| Known Websites: | cryptolava.io |
| Have Warnings from: | N/A |
| Registered in: | N/A |
| Operating since: | 2023-08-01 |
| Trading Platforms: | Web |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | Unavailable |
| How to Withdraw from This Company? | Since this company is unlikely to return your money – contact your bank or financial regulator or simply reach out to us for professional assistance in recovering your funds. |
Legal Info: Is Cryptolava Regulated?
The legal background of the Cryptolava exchange is virtually unknown. We hit a dead end upon attempting to access the website’s legal documents. The files were unavailable. There are no sources online that would provide insight into the shady business.
To be sure, we also checked the databases of some top financial market regulators but got no results. Therefore, it’s evident that this provider is a hoax. Placing your funds on this website is risky; you could wake up the following day with your balance being zero.
Instead of trusting unlicensed imposters like Cryptolava or Profit Edge, we recommend you trust firms that are regulated by esteemed financial market authorities such as the FCA (UK), ESMA (Europe), CFTC (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc.
Such providers must adhere to demanding regulations such as maintaining a substantial operating capital, providing users with negative balance protection, segregating their funds in reputable banks, and offering them compensation in case of bankruptcy.
Trader Reviews – Sharing Experiences
After searching the web for Cryptolava reviews, we found just complaints on scamadviser.com. Traders have expressed frustration for trusting the crypto swindler.
“Before I realized it was a scam I already lost 125000 USD,they denied withdrawal and kept asking for more fees,”
– says a ScamAdviser user
Other comments echoed this opinion. Given how shady the exchange’s business seems, this negative feedback comes as no surprise.
Before investing money online, always check what users say about a particular firm or website to ensure you’re dealing with a transparent entity and not some con artist. Read through regulatory warning lists as well. If your dealer appears on any of them, be on guard. Inform yourself about how cyber schemes such as Uxcoins work.
Who Are Cryptolava’s Targets?
According to WHOIS, the cryptolava.io website domain was created on August 1, 2023. Since then, the crypto blackhat has mainly been targeting unsuspecting traders who reside in the following countries:
- United Kingdom;
- Spain;
- Italy;
- Austria;
- Greece.
All the listed countries have stringent financial authorities that enforce heavy regulations. One common rule stipulates that each market participant must obtain a license to operate under their respective jurisdictions. In the European Economic Area (EEA), this document is known as a MiFID passport, allowing firms to provide services across the said zone.
After Brexit, the UK shifted to a slightly different set of rules, albeit similar to those in force in Europe. The country’s Financial Conduct Authority (FCA) still demands all firms operating in financial markets report and meet strict license requirements.
The Cryptolava crypto provider lacks such authorization, jeopardizing all users’ funds. Website traffic virtually doesn’t exist, so you cannot count this platform as legitimate.
What Trading Tools Are Available?
“Trade all your favorite cryptocurrencies without commission fees,” the website says, enticing unwary users to complete the Cryptolava login process and deposit funds. Doing so, however, will kickstart a series of issues for the user.
Since there’s no Cryptolava app, we suppose the provider has a web platform. While newbies may find browser-based trading terminals easy to comprehend, trading volatile assets like cryptocurrencies is extremely risky, which is why you need many tools to ensure progress. Trading with unregulated entities is terrible in all cases, though.
We thus recommend avoiding unreliable platforms and sticking to licensed providers that support recognized third-party software like MetaTrader 4, MetaTrader 5, or cTrader.
MT platforms offer an array of cutting-edge tools, including automated trading, live market reports, advanced charting capabilities, a user-friendly interface, and instant order execution.
Funding Options and How to Reverse Them
The website lists several methods that can be used to fund the platform and withdraw generated earnings:
- Credit/debit cards;
- Wire transfers;
- Bitcoin;
- Ethereum.
Cryptolava’s exchange fee is fixed at 4.7%, including VAT. Crypto arrives in users’ wallets within five days. The platform requires users to complete verification prior to purchasing digital assets.
At first, it may seem like a natural security measure, but given the website’s fraudulent status, it’s not. It aims to get your personal info and ensure the scheme runs smoothly, which is why you must not share it. If you’ve already sent your funds to this provider, consider the following refund methods.
To reverse a MasterCard or Visa card transaction, you need a chargeback. You can request a chargeback at your issuing bank within 540 days of the transaction. If you experience any Cryptolava withdrawal issues, please contact us.
Scammers prefer crypto payments because such transactions allow them to retain their anonymity and continue running their schemes. Reversing such transactions requires sophisticated tracing software like CipherTrace. Fortunately for you, our team is skilled at assisting people in the recovery process.
Key Information To Consider About Cryptolava
Wrapping up our truthful review, let’s outline the main points: Cryptolava is an anonymous website, not a transparent crypto exchange. It’s a hoax targeting mainly British, Italian, Austrian, Spanish, and Greek traders and investors. Several victims have exposed the scheme on a forum.
We do not recommend the exchange because it is not run by a legitimate and transparent firm but by anonymous virtual tricksters who are after your money.
We offer professional services and assistance if you have fallen victim to the Cryptolava scam and cannot withdraw your funds. Use the form below to book your free consultation with Scam Brokers Reviews.
Book a free consultation with us and start the chargeback process.
FAQ Section
What is Cryptolava?
Cryptolava is an anonymous website posing as a transparent crypto exchange. This platform is a hoax and nothing more.
Is Cryptolava Legit?
No, the provider does not exist in any legal register, meaning it operates as a deceptive website.
What is CipherTrace?
If you have Cryptolava withdrawal issues, CipherTrace is your go-to. This software can help you recover your funds. Contact us to learn more.
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