Fri. Oct 4th, 2024

Beware of Saxful.com: A Scam Cryptocurrency Exchange Promising Easy Money

By maria Aug28,2024

Don’t be tricked by the reviews for Saxful.com, This cryptocurrency exchange platform claims to be a safe and secure website for crypto trading which is a scam. The site falsely claims you can easily make money in the cryptocurrency or bitcoin market just by visiting their website and signing up for an account. 

Saxful.com website

Saxful.com Crypto Scam

The ads on Facebook promote Saxful.com as a legit and safe crypto trading website. The goal is to trick you into investing and paying fees while controlling the funds and preventing you from accessing your money.

Red Flags for Saxful.com

Misleading terms and conditions link

Clicking on their “Terms and Conditions” link redirects users to a sign-up page instead of displaying the actual terms. The site is missing essential menus like “About Us”.

False claims about establishment date

Saxful.com claims to have been around since 2018, but a Whois.com search shows it was registered on 21-05-2024 and is set to expire on the same date.

Fake endorsements

The website claims to be featured on Bloomberg, Forbes, Wired, Coinbase, and Yahoo News. However, a search on these platforms shows no mention of Saxful.com.

Absence From Social Media

A real cryptocurrency exchange should be active on social media, like Facebook, so users can share complaints and get updates. If they’re not, it’s harder to trust them.

What To Do If You Fell For The Saxful.com Scam

Cancel your credit card

Immediately call your financial provider and cancel your credit card. By so doing, the credit card details you used for your transaction would become null and void.

Request for a new card

After the old credit card has been canceled, ask for a new card, it doesn’t cost much to get one. Your credit card issuer will issue you a new one with different numbers.

Report the Fraud To Relevant Authorities

Report the scam to relevant authorities and organizations. This includes:

  • Better Business Bureau (BBB): File a complaint with the BBB if the online store is based in the United States.
  • Internet Crime Complaint Center (IC3): If you are in the United States, you can file a complaint with the IC3 at https://www.ic3.gov/.
  • Your Local Consumer Protection Agency: Contact your local consumer protection agency or the equivalent regulatory body in your country.

Also read: Beware Of Nellcoin.com

By maria

I'm Maria, a journalist. I fact-check and provide accurate information on trending topics. Prior to working on Infoquu, I worked as a Research Analyst for organizations.

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