Dexcoinmarket is a fake crypto trading platform and companion app that’s being used to scam investors out of their cash.
Despite claims that it’s the world’s most popular crypto exchange, at the time of writing the website was only two months old and already reports of it being a scam were mounting up.
Victims of the Dexcoinmarket scam are being contacted via social media and urged to invest on the platform, or its companion app.
However, users are soon finding their accounts blocked and the scammers demanding large sums of cash to release their funds, claiming these are necessary ‘taxes’ or ‘commissions’.
However, these charges are part of the scam and designed to extract as much money as possible from unsuspecting investors.
Dexcoinmarket red flags
There are plenty of issues with the platform that reveal it to be a scam.
They include:
- The platform offers no real functionality or investment strategy.
- There are multiple websites that give Dexcoinmarket a low trust rating.
- It has a Domain Authority (DA) ranking of 1 – the lowest possible.
- Despite the grand claims, it is a very new domain and wouldn’t have built up a big user base.
- There are numerous broken or fake links on the site that lead nowhere.
- There is no information about the company or its investment strategy.
- The platform features apps links that lead to a direct .apk file downloads. These files can be harmful and contain malicious code.
- Dexcoinmarket has no social media following or any genuine online reviews.
This site is part of a series of pig butchering scams that are proliferating the crypto space right now. They’re run by fraudsters who are adept at concealing their identities and location so it makes it very difficult to get your money back.
There are also private companies that might be able to help which I’ve written about here.
Have you had any experience with this platform? Kindly share your thoughts in the comment section to help others stay informed and safe.
