Some say that investing in cryptos may yield better profits than traditional instruments. It is because the cryptocurrencies have become so popular and volatile, however, that we see the rise of various online schemes.

Keep your money safe! See the rest of our Pelonex review to learn how to recognise a scam, and recover money from one.

Zero Information Shown

Other than uninformative legal documents, the Pelonex exchange reveals no other details pertaining to the company’s incorporation and legal status. It is unknown where their headquarters are, who are the owners of the exchange and if they even have any license at all.

Therefore, we started searching through various databases of regulated entities. As it turns out, the company hasn’t entered the registers of FCA, ASIC, BaFin, CNMV or any other Tier 1 database. With the lack of transparency displayed by the fraudsters, it is apparent that they’re entirely illicit and unlawful.

Recent Cryptocurrency Scheme

One of the things you’d notice when browsing the site is the copyright information dating back to 2017. This is done to make the company seem older than it actually is, and to fool automatic scam detection.

The pelonex.com was actually created in May 2024, and is mostly oriented towards these nations:

• United Kingdom
• Germany
• United States
• Spain
• Italy

Since the whole scheme is so young, there aren’t many Pelonex reviews posted by the clients. This is quite helpful to the schemers, as they rely on anonymity for their dirty work. Much of it is done by boiler room agents, situated in a scam call center.

These agents contact the victims by phone, and squeeze out an investment using various pressure sales tactics. While the deal may seem lucrative, all of the money is simply stolen. Recovery is possible, so contact our experts for more details.

Trading and Transaction Fees

Depending on your monthly trading volume, different fees may apply. If you trade less than 30 BTC per month, your Maker/Taker fees are 0.075% / 0.075%, while premium users enjoy discounts and fees of 0.035% / 0.045%.

Deposit and withdrawal fees also vary, but in this case, that depends on the  digital currency chosen. However, the data on that list looks either scrambled or heavily outdated, as it shows that BTC deposit fees are 2. Withdrawal taxes are 0.00030 BTC.

Who Feeds the Ponzi Scheme

Nothing attracts new victims like free money. The only condition is to find as many people as possible to sign up and deposit via your referral code. That apparently brings existing customers up to 40% commission earned from the trading activities of their affiliates.

Can Truly Anyone Earn?

The Pelonex scam promotes their service as “simple, fast and affordable”. How much of that is true? Well, most probably not a slightest bit. Considering that you won’t earn anything on compromised software or have your profit withdrawn, there’s no reason to even invest with this portal.

Doctored Trading Platform

There is no discrete Pelonex app, and instead a basic WebTrader is provided for the clients. While the charts are imported directly from TradingView, we have noticed a significant data lag.

Many fraudulent firms including NFL Markets do this on purpose, since it lets them have an insight into potential shifts beforehand. They will then edit the market data on their own side, to either show fake profits or large losses, prompting additional deposits.

Limited Selection of Instruments

For a “cutting edge” cryptocurrency exchange, the list of available instruments is laughable. The company only offers crypto-to-crypto pairs, with no onboarding or offboarding for FIAT currencies.

In total, there’s only around 50 pairs, including some nonsensical ones like BTC/BTC. Let’s have a look at a few examples now:

• Cryptocurrency Pairs – BTC/ETH, ETH/XRP, SHIB/USDT

Anything Goes

One interesting fact about signing up for this bogus service is that you can make up any email and password and it will work even if the address is non-existent. 

Right after that step, you will gain access to the user dashboard. There’s no complex security procedures allegedly enabled, as the exchange claims on their site. No safety measures were ever implemented at all. 

Users are asked to invest at least 0.003 BTC to start trading, but they’re also pressured to buy alleged VIP status as it is supposed to unlock free payouts and signals.

Payout Terms Breach Regulations

If you want to attempt and submit a Pelonex withdrawal request, you can do so from the client dashboard. Please take note of the available funding methods – while only crypto is accepted for deposits, the firm allegedly supports addition channels for withdrawing funds:

• Crypto
• Visa/Mastercard
• PayPal
• Swift

This goes against all known AML measures and it’s your sign to refrain from risking your assets with this illicit company. Fraudsters like Pelonex crypto scam and Absolute Markets prefer crypto transactions as it helps them stay anonymous in the process.

Lazy Customer Support

Live support options are not available for site visitors, so if you’re just looking to ask a few questions – tough luck. Those with a Pelonex login do have access to live chat, but the support is not what you’d call eager to answer. In the end, you’ll have to rely on the same boiler room agent that got you into the mess in the first place.

Recovery Help and Advice

Our review has shown plenty of evidence why this firm doesn’t deserve your trust. If you’re wondering who to invest with in that case, we can help you with advice and guidance.

Furthermore, whoever has lost money to this scheme or a similar scam project can contact our recovery experts for help. Don’t forget that first consultations are always free of charge!

FAQ Section