Molynex.com Review – Scam Tactics Use False Giveaways

Openly inviting all visitors to trade crypto on this allegedly leading exchange, the site actually exhibits typical fraudulent behavior. That particularly refers to the lack of transparency and omitted corporate info. 

Whatever is promised and no matter how affordable it seems, is it really worth it when your entire capital is at stake? This Molynex.com review answers that question and lists a bunch of other red flags we’d like you to learn about in order to protect your investment. 

Anonymous Crypto Operators

The Molynex.com scam claims to be a leading Australian crypto portal registered with AUSTRAC. One simple search through this register reveals not a single similarly named firm. 

Without a single other detail to base our research on, we had to check as many Tier 1 databases as we could, including FCA, BaFin, FINMA, CySEC and NFA. None of them have any records of this suspicious entity. That essentially deems this platform a bogus service with nothing to offer. 

This case vaguely reminds us of Axiau, another virtually anonymous business that sells baseless ideas of high profit and amiable returns. 

Another TikTok Scheme

The Molynex.com fraud site was launched in October 2023, as you may see in the WhoIs register. Here’s an overview of most heavily impacted nations:

• United States
• Canada
• Australia
• Fiji
• Ukraine

It seems that TikTok crypto giveaway scams have become quite prevalent in recent times. Many of these bogus exchanges use the likeness of some influential person, in this case Warren Buffet, to create various edited footage with DeepFake AI software.

Allegedly, the celebs featured in the content are giving away free cryptocurrencies, and all it takes to receive them is to create a trading account and invest some money. It’s all a ruse, and the funds get stolen by.

Not at all Affordable as Marketed

Your every move or attempt to use any of the site services will be ruthlessly overcharged. The pricing is just abysmal and all of the costs are yours to bear, as the legal documentation explicitly explains that. 

Firstly, the default Maker/Taker fees for the regular users are 0.20% and 0.14% for Premium users. Following the sign up process, you agree to also pay for all internal and external fees, especially considering monetary transactions. Mandatory commission for all deposits and withdrawals is 1% + 18% when you attempt to withdraw funds for the first time. 

The firm also charges a 5% interest on any sum on your account that remains payable after a transaction ends. 

Referral Bonus 

Having existing members get new users to sign up is how Ponzi schemes expand. 

The basics refer to rewards promised to customers for each new affiliate they bring in. In this case, the bonus is structured in three (3) levels. For category A referrals you get 50% of the commission, category B affiliates bring 10%, while for category C, there’s a 2.5% of the commission paid by the referral.

In addition, the promoters are also promised to get 0.01% (in BTC) of the sum of every deposit the affiliates make.

Impractical Trading Tools

When buying an expensive service you’d expect nothing but a reliable set of tools, advanced software and a hefty amount of available trading instruments. We’re sorry to inform you that nothing of the sort is provided by this crypto portal. Let us walk you through their main features.

Unreliable Software

The web terminal present on this website is nothing but bogus software with deceptive information and market details. High-risk trading environments are found on every false crypto trading domain that doesn’t utilize reliable technological solutions. 

If you intend to make any money on this highly volatile and non-predictive market, you ought to choose an advanced software that is flexible, fast and rich in features. This site cannot equip you with enough tools and options to succeed as an investor. 

Assets You Can Expect

The assets are said to be numerous and diverse, but promises made by these con artists are hard to believe. Without access to the actual trading platform however, we couldn’t review which instruments are actually available to the clients.

The website advertises these financial assets:

• Cryptocurrency Pairs – BTC/USDT, ETH/USDT, BNB/USDT, CAKE/USDT, DOGE/USDT

Premium VS Regular Account

The website owners didn’t find it necessary to explain how their packages are obtained, how much they cost and what they feature. Swindlers stick to just advertising non-existent services as good as they can and hope to fool as many investors as possible. That’s why only some scarce info is available in the legal docs. 

For example, premium users are guaranteed lower fees, discounts on every trade, exclusive access to the support channel, and even so-called VIP signals. In order to activate this plan, however, the needed sum you have to cough up is not revealed.  

Nothing to Withdraw

Since all of the trades are purely simulations and the trading environment itself is artificial, you cannot expect the profit shown to be real and available for cashing in. That’s why no withdrawals actually happen here. 

What’s more, since all of your account funding is processed via crypto channels, the funds get immediately snatched and sent to an anonymous wallet so you lose track of it. That efficiently prevents users from withdrawing even the starting deposit they made. 

If that doesn’t stop you from requesting withdrawals, the firm has other methods, such as trading volume requirements, sudden fees and other charges that you have to pay upfront.

No Help Desk

The company doesn’t provide any specialized customer support team on the website. The users need to rely on help FAQs, of which there’s about 20 different questions and answers. These are all set up in such a way to entice potential victims to spend rather than provide any assistance if an issue arises.

Fraudsters Took Your Money? We Can Get It Back!

If you’re looking for a reliable cryptocurrency exchange, you won’t find it here unfortunately. The Molynex.com crypto platform is not licensed, regulated or even registered in any jurisdiction. These charlatans use misleading videos to catch the attention of potential victims in popular social media and steal their money.

These professional schemers are not to be trifled with. If you’ve lost money on this or any similar online con like Investing X, feel free to contact our legal experts. Recovery always remains an option, and we’ve provided a 24/7 live chat option for your convenience.

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