Musbex Review 2024 – Despicable Crypto Exchange Fraud

This platform is part of a fraudulent crypto exchange chain operating several anonymous exchanges and scamming unwary investors left and right. How do we know? We’ve covered numerous deceptive platforms using the same website.

Therefore, we suggest you read our full Musbex review to learn about their trademark tricks and vicious lies. You will also learn to identify cyber schemes, such as the Musbex exchange and EO Broker. 

Legal Info: Is Musbex Regulated?

Musbex says it operates as an Australian-Maltese entity, but this bold claim is highly questionable. Clear signs indicate that this entity isn’t registered in any jurisdiction. 

The dubious website provides no evidence of meeting the standards required by legitimate financial service providers.

Trusting these con artists poses a significant risk to your assets. Choose reputable crypto exchanges to avoid falling victim to the Musbex crypto trap.

To safeguard your hard-earned money, engage only with firms regulated by respected financial authorities such as the FCA (UK), the European Securities and Markets Authority (ESMA), CFTC (US), ASIC (Australia), or IIROC (Canada).

Trader Reviews – Sharing Experiences

Our search for Musbex reviews from traders or investors turned up empty. No leads. Instead, we found multiple analyses reiterating our concerns about this duplicitous scheme. 

These evaluations, alongside our eye-opening review, unmask the shady operators and their foul intentions, flagging potential withdrawal complications. All the hallmarks of a virtual scam are there. 

Before making any online investments, always verify a platform’s credibility by checking feedback from regulators and users to ensure it’s legit. This will help you avoid digital dodgers like Meta-Protocol. 

Who Are Musbex’s Targets?

According to WHOIS, the musbex.com website domain was created on October 15, 2023. Since then, the virtual swindlers behind the shady exchange have mainly been providing illicit services to investors who reside in the following countries:

• United States
• United Kingdom
• Australia
• Canada

These regulatory bodies are known for their strict financial regulations, meticulous oversight, and close market monitoring. The U.S. and U.K., in particular, are highly demanding and carefully scrutinize participants to prevent fraud. 

Digital con artists like Musbex cannot legally operate under these watchdogs, so they go rogue. We’ve looked up the bogus site on scam-watcher, which has flagged it as a “suspected scam.” 

Scam Watcher also cites potential deepfakes and fake celebrity endorsements, stating that the “scammers behind it are using AI-generated voices and counterfeit tweets to make it seem that these websites were brought to us by Elon Musk and other prominent tech personalities.”

How the Crypto Platform Works

Our investigation failed to find the Musbex app for mobile or desktop devices. The exchange operates solely through a web-based platform with fundamental tools and an unpolished interface, lacking the advanced features that make crypto trading efficient. 

Moreover, its fraudulent status and shady background compromise users’ funds. For that reason, we advise you to avoid using it.

Instead, choose providers that support reputable third-party software like MetaTrader 4, MetaTrader 5, or cTrader. 

These platforms offer advanced tools such as automated trading, live market reports, fast execution, and excellent charting capabilities.

Fee Structure

When we opened the “Fees” page on the Musbex website, we found an empty table. There was no information about the fee structure, trading commissions (maker/taker fees), or deposits and withdrawal charges.

The site only mentions that the “first trades,” whatever that means, are free of charge. Logical questions arise: How many trades are free? When do commissions start? The lack of clarity leads to one conclusion: the platform is a hoax.

Suspicious Referral Program

The website mentions a referral program, but the details are unknown. The Musbex login page blocked us from accessing the program specifications and awards.

In reality, the Musbex referral program is nothing more than a Ponzi scheme in disguise. It lures new users with promises of lucrative rewards for bringing in more participants, but in reality, it’s a cunning tactic to sustain their fraudulent operations. 

There are no payouts—just a continuous cycle of deceit that ultimately collapses, leaving victims with significant financial losses. Do not drag your friends and family into this mess.

Customer Support

The cutthroat website lacks a customer support page, pushing users to a bare-bones FAQ section. Without social media accounts, contact numbers, or email addresses, it leaves users in the dark. 

This blatant lack of transparency and disregard for user trust raise red flags. If you value your assets, steer clear of this platform and avoid sending them any money.

Funding Options and Refund Methods

The website lists multiple e-wallets users can use to deposit and withdraw funds. Yet, we believe these fraudsters accept any type of payment to increase the chances of their scheme succeeding. 

Here’s how you can retrieve funds sent to them using standard payment methods: credit/debit cards, wire transfers, e-wallets, and crypto transactions.

For transactions made with a MasterCard or VISA, you can request a chargeback from your issuing bank within 120 days of the transaction. 

Wire transfers can be recalled if the transaction is still incomplete. E-payment refunds require you to contact the issuing company and present your case. Prepare all the evidence you have.

Scammers often prefer crypto transactions for anonymity, making it easier to evade detection and continue their fraudulent activities. 

Reversing crypto transactions is challenging and typically requires specialized tracing software like CipherTrace. Luckily, our team can help victims recover their funds.

Key Information To Consider About Musbex

Musbex is a hoax website promoting illicit crypto trading services. It’s not a legitimate Australian or Maltese firm with a proper license. These con artists mainly target American, British, Canadian, and Australian investors. 

We strongly advise against using this platform, as it is run by criminals seeking to take your money. Reread our analysis to learn how to identify cyber fraud before it gets the better of you.

We offer professional services and assistance if you have fallen victim to the Musbex scam and cannot withdraw your funds. Use the form below to book your free consultation with Scam Brokers Reviews.

Book a free consultation with us and start the chargeback process.

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