Unfortunately, this crypto investment scam is a prime example of how low online charlatans are prepared to go in order to get the money. Abusing the relative novelty of cryptocurrencies, these swindlers are reaching into the pockets of pensioners.

See the remainder of our GCXcrypto review to learn more about online con schemes, and how to recover a stolen investment.

Unclear Owner of the Firm

This shady platform called the GCXcrypto exchange claims to be owned by a company allegedly called the Scottish Group, established in Germany in 2015. As a financial services provider in that country, a business is obligated to acquire a BaFin license, which this entity doesn’t own.

Another owning company mentioned is just GCX which is supposed to be a FinCEN registrant as a money services business. A company named GCX GROUP LIMITED does show up in the search results, but that entity probably has nothing to do with this fraudulent website we’re reviewing. 

After all, this isn’t the only site that displays exactly the same legal information. For instance, Hxeyy.co has basically a mirror copy of this website with the same legal papers. There are more of them out there, so all in all, it is better to avoid them entirely.

Stealing From the Elderly

The gcxcrypto.co domain was created in December 2023, with a lease time of a single year. The fraudsters behind it are mostly focusing on citizens from these nations:

• United States
• Canada
• France

While there are no customer-made GCXcrypto reviews, we found feedback from Reddit users. According to them, the fraud involves at least two individuals playing two distinct roles. One of them is posing as a finance expert with a solution for passive income, while the other poses as an interested third party to shill the sham.

These two aliases, “Andrew Brown” and “Catherine,” prey on pensioners and the elderly. They urge their victims to purchase cryptos and transfer the coins to privately held crypto wallets posing as investment platforms.

Recovery of stolen cryptos is a very difficult procedure, but it is possible. For more information and help with recovery, contact our experts via the live chat.

Can It All Really Be Free?

Of course, GCXcrypto fees do exist, and they most definitely apply. The catch is to lead customers into thinking the service is entirely free. That’s what the boiler room agents and other scam promoters want you to believe as their victim. That increases their chances to acquire new victims and attract more investments. 

In reality, the company cannot afford not to charge trading fees and other expenses—how are they supposed to earn, then?!

Multiple Bonuses and Promotions

It looks like the company offers incentives and rewards for participation in various projects all year round. All of these can lead traders to have their funds stuck on the platform without the option to pull them out. After all, fraudsters add virtual cash to a client’s account and then reject withdrawals until the trading volume requirement is met.

Immediate Code 360 is also known to throw around USDT and cash rewards just to prevent clients from withdrawing a single penny.

Poor Service and Even Worse Tools

Everything seen on this sloppy and buggy website should be your sign not to register a GCXcrypto login with them. 

Not only is the customer service unresponsive, but the majority of features found are unreliable and underperform compared to competitors. That reminds us of the Immediate Trade Pro website, which is just packed with promises and nothing more.

Suspicious Download Options

There are two alleged software platforms for the exchange. One of these is the web trader, a favorite of contemporary financial swindlers. It allows the con artists to easily edit the market data and make speculations, either a loss or gain, depending on the deception strategy.

The GCXcrypto download section features links for mobile devices that use iOS and Android operating systems. The app itself is not listed in major stores which is another evidence of it being malware.

Miniscule Asset Diversity

To maintain the appearance of a cryptocurrency trading platform, the GCXcrypto app offers a slew of different instruments. While the selection does seem diverse, it pales when compared with what the legitimate competition has to offer.

The featured instruments are all crypto pairs with USDT set as the quote currency. There are a total of 35 base currencies, including BTC, ETH, ADA, XRP, BNB, IOTA, DOGE and some others.

Conditions for Joining the Portal

Those who wish to join the robbed and defrauded have to first provide their contact information and an invitation code. Without it, it’s impossible to sign up for the platform. 

Due to such circumstances, we were prevented from accessing the user area and couldn’t examine other options and benefits unlocked with the membership. Since this is an illicit crypto provider, there’s probably none, anyway.

Disappearing Funds

The procedure for withdrawing funds from your GCXcrypto wallet is not known. Being locked out of the client zone, we had no access to the withdrawal options. However, since this is another typical fake crypto exchange, they most likely only support crypto payments. 

This channel allows them to perform quick transactions yet remain anonymous. While facilitating the fraud, this strategy also makes it hard for individuals to restore stolen assets without professional help.

Customer Support “Temporarily” Unavailable

It seems that the client support office is temporarily busy for an indefinite period. Therefore, users are advised to leave their phone numbers and a message describing their issue. Support agents should solve it as quickly as possible. 

Of course, these are just lies, as nobody on this platform truly cares about the issues their customers face when the fraudsters themselves are the cause of these troubles.

Swindlers Took Your Money? We Can Help!

The answer to the question “is GCXcrypto legit?” is unfortunately no. This illicit cryptocurrency exchange is quickly gaining notoriety amongst the traders for targeting and involving elderly people into the scheme.

Should you require assistance recovering stolen or lost crypto assets, consider contacting our experts. You may reach us around the clock via the live chat for your free first consultation.

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