ETH Coinbasex is a fake crypto trading and investing platform which is being used as a front by scammers.
Several people have contacted PawProfitForum Team to say they’ve lost money to this platform after being encouraged to invest by someone they’ve met online.
When would-be investors first engage with the ETH Coinbasex platform they’re asked to convert cash into crypto using a legitimate exchange.
They’re then prompted to transfer the crypto to ETH Coinbasex where the scammers claim it’s invested with the promise of large returns.
It may seem as if the investment is working as profits are added to the victim’s balance. But when they try to withdraw their money, the problems start.
Victims find their account is blocked and the only way to gain access to their funds, according to the scammers, is pay a large fee of some description.
However, if the fee is paid, the scammers will demand more money and at no point will they return the funds.
How to spot the ETH Coinbasex scam
If you know what you’re looking for, there are several ways to spot that this platform is a scam including:
- Very poor website design with pixelated images and graphics.
- Poor use of English and multiple grammatical errors.
- No social media profiles or app store listings.
- No regulatory or licensing information.
- No information as to how any profits are generated for clients.
- The claimed profits are unrealistically high.
- A Domain Authority (DA) score of 1 – the lowest possible.
- Multiple reports online of this platform being a scam.
Crypto scammers go to great lengths to hide their identities so recovering your funds can be very difficult.
However, it’s important to report what’s happened to the relevant authorities in your country.
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.
