FlipMe has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to TronCash. We’ve received over 5 complaints against FlipMe.
FlipMe, another bitcoin MLM, was created by Mavie Global. It offers to combine cryptocurrency with regular banks via innovative payment mechanisms. However, its “Payment Hub NFTs” could be used for securities scams, it doesn’t disclose its ties to Mavie Global, and it lacks regulatory approvals. Some believe its business model resembles schemes like buying false reviews to look real. FlipMe is currently learning how to follow many rules, thus its future is uncertain. This highlights how risky doing business with unlicensed digital finance businesses is.
Get Your Money Back From These Scammers!
[mychargeback-form]
Key Takeaways
Is FlipMe Regulated? Do They Have a License?
FlipMe is the newest company that was started by Mavie Global. It is part of the growing number of bitcoin multi-level marketing (MLM) businesses.
This in-depth explanation goes over how FlipMe came to be, how it works, and the controversial parts of it. It also shows how it fits into the bigger picture of digital money and MLM scams.
The domain name “flip-me.com” was first registered by FlipMe in 2016 as its entry into the cryptocurrency MLM field. The domain’s registration was made more anonymous on October 12, 2023.
Checks done in September 2023 showed that the domain had no online presence, which suggests that it was bought around the time of the last change. FlipMe’s website doesn’t directly talk about Mavie Global or its CEO, Michal Prazenica, even though it has ties to them. On the other hand, Mavie Global’s website happily announces FlipMe as its newest business.
The lack of regulation or the presence of poor regulation is a huge red flag. It means FlipMe is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of FlipMe, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at FlipMe
FlipMe markets itself as a link between traditional banks and cryptocurrencies, offering a payment app and card solution that can be used anywhere in the world. It says that it has branded MasterCard debit cards that can be used to instantly exchange cryptocurrency for cash.
Additionally, FlipMe advertises the availability of prepaid Visa cards on social media through a relationship with Tremendous, a company based in New York. But this model makes me suspicious because it looks a lot like schemes that use fake companies and shady payment providers that are common in similar situations.
One big red flag about FlipMe is that it doesn’t seem to care about following the rules, especially when it comes to its banking and stock services. The site doesn’t back up its claims that it has banking licenses or the legal right to sell securities.
FlipMe’s “Payment Hub NFTs” are investments that promise returns that are too good to be true. This puts the company directly at risk of being charged with securities fraud in the U.S. and other places where financial markets are controlled.
SimilarWeb did a study in February 2024 and found that most of FlipMe’s website visitors come from the UAE, Russia, the Czech Republic, and Malaysia. The platform may face legal problems because its users come from different parts of the world and most of them live in places with strict securities laws. This is because it doesn’t follow the financial laws in these areas.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
FlipMe Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
FlipMe Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like FlipMe tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust FlipMe reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of FlipMe, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like FlipMe enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “FlipMe reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising FlipMe.
You should always look out for consumer complaints. In the case of FlipMe, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about FlipMe? You can share your complaint in the comment section or submit an anonymous tip.
Is FlipMe Legit Or Scam?
Mavie Global has been involved with MLM schemes before, with LottoDay and 369X, both of which promised big profits but have since had big drops.
FlipMe is their latest attempt. These examples, along with the questionable nature of FlipMe’s business, make it hard to believe that such projects can last and are legal. FlipMe is still figuring out how to deal with the complicated rules and changes in the market, so no one knows what will happen to it or its NFT investment plan.
Finally, the launch of FlipMe as a third company that split off from Mavie Global is another part in the troubled history of cryptocurrency MLM schemes. FlipMe is a great example of the problems and risks that come with operating on the edges of what is allowed in the digital finance ecosystem. Its legal status is questionable, it makes big financial claims, and its operational base isn’t very solid.
FlipMe is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind FlipMe can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust FlipMe?
All the evidence suggests that FlipMe is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
Is FlipMe a scam?
Can I withdraw money from FlipMe?
Where is FlipMe Located?
How do I get my money back from FlipMe?
How The FlipMe Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
