Lost money to a crypto or trading scam? Read this first: UK BASED - If your losses exceed £10,000 then Wealth Recovery Solicitors might be able to help. WRS is partnered with the National Crime Agency and has helped dozens of clients retrieve substantial sums. >> VISIT WRS USA/AUSTRALIA/CANADA - If your losses exceed $10,500 then contact Cybertrace. Cybertrace are a team of investigators specialising in cryptocurrency scams and tracing using custom AI tools. >> VISIT CYBERTRACE
Exchangeup is a fraudulent cryptocurrency platform set up to swindle investors out of their cash.
The platform claims to provide cryptocurrency trading and mining facilities. However, anyone who deposits money here will lose it.
Investors are often introduced to Exchangeup by someone they recently met online. This means that someone using the social media app may have ‘accidentally’ sent a message intended for a different recipient, but it’s actually part of a ruse.
Victims are promised large returns with little risk and are encouraged to deposit increasingly larger amounts into the platform, often watching profits accumulate in their accounts.
Initially, victims can withdraw even small amounts, but if they try to withdraw all their cash, they will be blocked.
The scammer will then demand a large fee to release your funds. However, paying these costs will result in additional demands and your money will not be returned.
Clear signs that Exchangeup is a scam
Exchangeup scams are easy to spot for several reasons:
- It is a very basic website design and has been replicated in many scam sites.
- There is no explanation as to how the seemingly impossible gains are achieved.
- There is no licensing or regulatory agency information from any relevant financial institution.
- No social media profiles or apps.
- There are several reports that the platform is a scam.
- The domain authority rating is very low which indicates that the platform is a scam.
- The tab specifying the platform is called ‘compounddefi’, not the name of the site. This is a common error found on scam platforms.
Can I get my money back from Exchangeup scam?
Although it is highly unlikely that you will be able to recover your funds from the platform, it is still worth reporting it to the fraud authorities where you live.
There are also private companies that can help, as I wrote here.
If you suspect a site is fake, contact us.
Related posts: Cryptocurrency Scam Help and Resources