How do I tell if a 'crypto trading platform' is fake?

asked 9d ago7,563 views1 answers
0

The platform has live charts, a clean app, and lets me 'trade'. How can I verify if it's real?

#fake-exchange#verification#due-diligenceasked by AnitaR

1 Answer

0
Verified expert answer

Five fast checks, in order of effort:

  1. Domain age: paste the URL into who.is. Real exchanges have domains older than 5 years. Most scam clones are 0–6 months old.
  2. CoinMarketCap and CoinGecko listings: real exchanges list their reserves and trading volume. If the 'exchange' isn't on either, it doesn't exist.
  3. Regulatory check: search the platform name on the registers of FCA (UK), FINRA/SEC (US), BaFin (Germany), MAS (Singapore). Scam platforms either appear on warning lists or are completely absent.
  4. Withdrawal test: try withdrawing a tiny amount. If it works, try a slightly larger amount. The moment 'fees' are required before a withdrawal can complete, it is 100% a scam.
  5. Reverse-image search the team page and any 'office' photos. Stock photos and stolen LinkedIn images are universal among fake platforms.

Safewire publishes a regularly updated database of known scam-platform clones at safewire.eu — worth checking before you ever deposit.

Sign in to comment.

Want to answer?

Sign in to share your experience or expertise.

Sign in