“Jonathan Crypto” is heavily associated with Tyark, but who or what is it? It’s actually a Telegram channel focused on cryptocurrencies and digital investments. This group redirects users seeking to make an investment to the Tyark exchange.
Afterward, they end up losing their money and assets. The forums are full of complaints against the platform, which is why we urge you to read our truthful Tyark review and learn the truth about how the scheme works.
| Regulated by: | Unregulated Crypto Exchange |
| Is This Company Safe? | No, the platform is fraudulent |
| Known Websites: | tyark.com |
| Have Warnings from: | N/A |
| Registered in: | UK (allegedly) |
| Operating since: | 2024-04-30 |
| Trading Platforms: | Web |
| Maximum Leverage: | N/A |
| Minimum Deposit: | ~200 USD |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | Unavailable |
| How to Withdraw from This Company? | Since this company is unlikely to return your money – contact your bank or financial regulator or simply reach out to us for professional assistance in recovering your funds. |
Legal Info: Is Tyark Regulated?
Tyark is not just a crypto exchange for swapping one digital currency for another; it also offers trading services. Hence, it requires regulations to operate legally. We first checked the website’s legal documents and came across a company named “CRYPTO ARBY TRADE LIMITED.”
Looking up this entity, we discovered it used to be registered in the United Kingdom from July 2021 to December 2022. With this firm no longer active, how is Tyark operating? We have the answer, and it comes from our experience.
Crypto Arby is a fraudulent entity that has been used in countless crypto schemes. It purportedly operates these shady platforms. Therefore, Tyark, like Bitoneu, is not a legitimate provider. It’s evident that these are hoaxes. Placing your funds on these websites is risky.
Instead of trusting unlicensed imposters, we recommend you trust firms that are regulated by esteemed financial market authorities such as the FCA (UK), ESMA (Europe), CFTC (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc.
Trader Reviews – Sharing Experiences
You have to be careful here. The feedback on reviews.io is potentially dishonest. The website started operating last month and already received a few hundred positive comments, which is pretty suspicious. On the other hand, Tyark reviews on popular forums such as trustpilot.com, scamadviser.com, and reddit.com reveal the truth about the scheme:
“I confirm this is a scam. It looks appealing, but do not fall for it. You are warned. After 3 times, I cannot withdraw money anymore from my wallet at tyark. They ask for a verification deposit of 750 USDt,”
a user said on Trustpilot.
“They have a higher BTC price where you can sell your BTC for more profit. But afterward, you need to put several deposits in to get your money withdrawn (payments of 4000 and 6000 dollars!),”
the Reddit user wrote.
Before investing money online, always check what users say about a particular firm or website to ensure you are dealing with a transparent entity and not a con artist.
Who Are Tyark’s Targets?
According to WHOIS, the tyark.com website domain was created in 2001 and updated in April 2024. Since then, the crypto swindler has mainly been targeting unsuspecting traders who reside in the following countries:
- United States
- Germany
- Norway
- Finland
All the listed countries have stringent financial authorities that enforce stringent regulations. European laws differ from those in force in the U.S., with the latter being heavier. One common rule stipulates that each market participant must obtain a license to operate under their respective jurisdictions.
Tyark lacks authorization, meaning it is not eligible to provide crypto trading services. Like Orbonex, the website is operating illegally and thus violating the law.
What Trading Tools Are Available?
The Tyark login page blocked our access to the platform. There was no download link or a Tyark app for mobile devices. Since there is no demo account, we abandoned attempts to view it.
Nevertheless, we wouldn’t advise you to use the bare exchange, let alone the Tyark trading platform. Your provider has to be regulated for trading services. Anything less would put you at risk.
Trading volatile assets like cryptocurrencies is extremely risky, which is why you need many tools to ensure progress. We thus recommend avoiding unreliable platforms and sticking to licensed providers that support recognized third-party software like MetaTrader 4, MetaTrader 5, or cTrader.
Fee Structure
Tyark charges trading and payment fees based on the cryptocurrency sold or purchased. For Bitcoin, the minimum deposit is 0.000316 BTC, with a 1% fee for in-orders and a deposit fee of 0.000016 BTC. Withdrawal fees likely follow a similar structure.
As a ruse to lure unwary investors, the exchange included the Tyark swap system, free of fees. There are other more reliable platforms to swap crypto without having to worry about getting scammed.
Is the Referral Program Legit?
Tyark also features a referral system. Although the details are undisclosed, it’s a popular initiative most platforms use to expand their user base. Those who participate in the referral program are promised various rewards based on the number of new members they bring.
However, we must emphasize that the described structure resembles a Ponzi scheme, primarily focused on recruiting new members. Ponzi schemes typically rely on using funds from fresh investors to return to existing ones. In such systems, the promise of lucrative rewards for attracting new dollar bills can lead to financial pitfalls.
Funding Options and How to Reverse Transactions
The website lists several methods that can be used to fund the Tyark wallet, buy crypto on the platform, and withdraw earnings:
- Credit/debit cards
- Wire transfers
Again, please refrain from buying assets using this platform, as it is fraudulent to the core. Judging by the complaints, it will allow you to make a deposit but deny you your Tyark withdrawal.
A MasterCard/VISA card transaction can be reversed via a chargeback. You can request a chargeback at your issuing bank within 120 days of the transaction. Wires can be undone with a recall, but only if the transaction is not yet complete.
Reversing crypto transactions, however, requires sophisticated tracing software like CipherTrace. Fortunately, our team is skilled at assisting people in the recovery process.
Key Information To Consider About Tyark
Wrapping up our review, let’s outline the main points: Tyark is an anonymous website, not a transparent crypto exchange. It attracts users via Telegram. This scheme’s main targets are investors from the U.S., Germany, Norway, and Finland. This hoax has been exposed on the forums.
We do not recommend the exchange because it is not run by a legitimate and transparent firm but by virtual cutthroats who are after your money.
We offer professional services and assistance if you have fallen victim to this 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.
FAQ Section
What is Tyark?
Tyark is a deceptive crypto exchange, or rather website, operating without regulatory authorization and scamming users.
Is Tyark Exchange Legit?
No, the platform belongs to a group of anonymous Telegram swindlers who are using it to steal users’ digital assets.
What is CipherTrace?
A powerful software MasterCard employs to help victims of virtual fraud get their crypto coins back.
Source:
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