Cryptoxchain has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Solarxalt. We’ve received over 3 complaints against Cryptoxchain.
Cryptoxchain advertises itself as a site for trading cryptocurrencies, but it doesn’t have a strong online presence or good documentation. Instead, it relies mostly on video ads. Its newly registered domain, which could be unstable, makes people doubt its credibility, which is very different from how businesses usually work. Lack of control is a big red flag that could mean fraud and legal risks for investors who aren’t careful.
Get Your Money Back From These Scammers!
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Key Takeaways
Is Cryptoxchain Regulated? Do They Have a License?
Cryptoxchain does not have any substantial online presence or documentation, except for the video advertisements that it has produced. A startling deficiency in information that is associated with the company presents itself. In addition, the domain name Cryptoxchain was registered not too long ago, and it may be canceled any time shortly. In comparison to the processes that are followed by genuine businesses, this activity represents a significant deviation.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Cryptoxchain 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 Cryptoxchain, 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 Cryptoxchain
To lure victims onto a manufactured cryptocurrency trading platform known as Cryptoxchain, con artists promise them free Bitcoin via a phony giveaway that is reportedly supported by celebrities. Users are presented with a balance of around 0.31 BTC on their Cryptoxchain dashboard once they have gone through the process of registering and entering relevant codes.
However, when users attempt to withdraw the money, they are requested to pay a minimum deposit of 0.005 BTC to “activate” the possibility of withdrawal. This requirement is a false strategy that is used to fool customers into sending genuine Bitcoin money, which the con artists then swiftly take away when they are successful.
The whole Cryptoxchain network, as well as the celebrity-endorsed giveaway, are sophisticated frauds that are meant exclusively to amass deposits into the wallets of the crooks operating the platform. After a sufficient amount of money has been gathered, the website disappears, leaving victims with no way to retrieve their money. This plan takes use of the faith that people have in well-known persons to provide validity to the fraud, which eventually results in customers being deceived into getting their cryptocurrency investments lost.
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 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.
Cryptoxchain 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 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, 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.
Cryptoxchain 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 Cryptoxchain 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 Cryptoxchain reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that 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 Cryptoxchain, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Cryptoxchain enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Cryptoxchain reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Cryptoxchain.
You should always look out for consumer complaints. In the case of Cryptoxchain, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Cryptoxchain? You can share your complaint in the comment section or submit an anonymous tip.
Is Cryptoxchain Legit Or a Scam?
Cryptoxchain 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 Cryptoxchain can run away with your money without any prior notice. It would help if you were 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 Cryptoxchain?
All the evidence suggests that Cryptoxchain 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 Cryptoxchain a scam?
Can I withdraw money from Cryptoxchain?
Where is Cryptoxchain Located?
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How The Cryptoxchain 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. 
