CEFAX com Review – Paying Withdrawal Fees Only Means More Money Wasted

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When you see a company named after an antibiotic, you can’t help but get a little bit suspicious. Checking the corporate credentials of CEFAX com raised many more important reasons for alarms. This cryptocurrency exchange is not only unregulated, they are owned by a known fraudulent company!

Find out more about how this scam works in our CEFAX com Review.

Of course, neither CEFAX, or any of their alleged parent companies appear in the databases of other prominent regulators. We have searched the databases of BaFIN, FINMA, FMA and ASIC for any clues about CEFAX com Cryptocurrency Exchange, to no avail.

Here is what the CEFAX com clients say about the company:

“ It’s a guaranteed way to loose all your funds guys. They’ll allow you to make two withdrawals and thereafter will be asked unstoppably go deposit funds. […] “

“ Asking for $150 to verify my wallet address, 2 or 3 dollars won’t verify well! I wanted to withdraw my money from this exchange but they canceled my withdrawal 3 times and told me that I must deposit $150 to unlock my money and most probably they will ask for many other deposits later and so forth! […] “

“ I deposit my funds with them and it did not reflect on my account. Their only customer support system is a bot. When I interacted with the bot to require where my funds went, the only reply I got was that my deposit was too low and the bot closed. Where did my funds go is the question. Be careful. […] “

Investing with unregulated cryptocurrency exchanges is ill advised. In the case you have deposited funds with CEFAX com scam, you can reach out to us for legal support in recovering your money.

The CEFAX com scam was first launched sometime in early 2023, targeting people from these areas:

CEFAX com offers a variety of different cryptocurrencies for trade. The trading instruments are designed to encourage as much spending from the victims as possible. Access to many trading features with CEFAX com is locked behind different “levels of verification”, each costing more than the previous one.

Here is what the clients can allegedly exchange on CEFAX com:

CEFAX com advertises binary options trading as “European Style”, completely ignoring the fact that such trading is banned in all European nations.

Creating a CEFAX com Login is an interesting affair. Just like other companies, CEFAX com requires that you accept the Terms of Service, but viewing Terms of Service requires that you login with your account. Although there is no minimum deposit amount, the minimum balance for trading is $2 000 worth of crypto coins.

The website cefax.com does not contain any information about various account types, and a demo account is not available. Company alleges different account tiers, known as “Verification Levels”, of which we spoke earlier in our CEFAX com Review. 

The taker and maker fees on cefax.com depend on the daily trading volume, and start with 0.3% for less than $5000 worth of daily trades. CEFAX com charges an additional 1% commission for orders.

Clients that have more than $500 on their account balance must pay a premium fee, which is subscription-based. If premium is not activated, client assets are locked. The company also requires “insurance payment”, which must be deposited simultaneously with the premium status payments.

Deposit fees are calculated in crypto coins, starting with 0.000034BTC (~$1). There is no information about withdrawal fees, and the scammers actively abuse this to charge insane sums.

When we count in the problematic Terms of Service, different “verification levels”, account premiums, insurance, and other recurring charges that subtract from the client deposit, it becomes clear that CEFAX com does not want their clients to withdraw.

The poor reputation that CEFAX com has on the web corroborates all this. It is a financial pyramid that only keeps taking. For resolution of any CEFAX com withdrawal issues, contact our legal experts. You may book a free consultation at any time via the live chat.

CEFAX com is a subsidiary of a known financial pyramid scam, with an outstanding fraud warning issued by the Russian CBR. None of CEFAX com mentioned parent companies have any authorization or license for offering cryptocurrency related services. The company has a very poor reputation online, and actively steals money from their clients.

Unfortunately, CEFAX com is just one example of cryptocurrency scams that are becoming more widespread by the minute. If you, or somebody you know, has deposited with CEFAX com or any other scam entity, you may reach out to us for help in recovering lost assets. Remember – your money is not lost until you give up! Contact us via the Live Chat, and book a free consultation today.

No, CEFAX com is a subsidiary of a known fraudulent entity. The CBR has issued a warning about the firm in question

CEFAX com allegedly offers trading Cryptocurrencies, Crypto Futures, Crypto Binary Options and Crypto Indices.

No, CEFAX com is as dangerous as they get. If you have any issues with CEFAX com withdrawals, contact our staff for legal assistance.

You can’t contact CEFAX com voluntarily, but their agents can call you at any time. Seeking customer support at cefax.com connects you with a chat bot, without the option to call an actual human.

The post CEFAX com Review – Paying Withdrawal Fees Only Means More Money Wasted appeared first on Global Fraud Protection.


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