The mobile website we’re taking a look at in our Jbcoin-Ex review is only a front for illicit activities. The company that operates it is completely anonymous, and does not disclose virtually any information. Data opacity completely blankets the site, concealing legal info, pricing model, account types, everything.
Any trader will encounter major hurdles with the basic software that the company provides. In addition to that, all of the trading assets are in banned categories, and withdrawals are handled contrary to the current AML regulation.
Not a single piece of legal information is available on the jbcoin-ex.com platform. If there is a parent company it’s not listed, nor are any addresses, phone numbers, or contact emails. Indeed, the website doesn’t even contain a proper Terms and Conditions document.
What’s more concerning is that the exchange doesn’t mention any license, nor authorization. Checking the databases of prominent regulatory bodies, including FCA, BaFIN, AUSTRAC and CySEC gave us no information about this alleged crypto exchange.
And this is a huge problem, since cryptocurrencies and companies dealing with these digital assets have become strictly regulated in recent years. Many regulators impose strict conditions, including segregated bank accounts, compensation funds, and leverage maximums.
In the remainder of our Jubi review, we’ll analyze the multiple regulatory breaches, and examine why the lack of any distinctive security measures puts your crypto coins at risk when dealing with this firm.
These agents are smooth talking persuasion experts, but they don’t know remotely as much about crypto assets as they want you to believe. Their approach is to urge quick, emotional spending rather than one driven by rationale.
Once the victim catches the wind of the fraud, they disappear without a trace. Recovering money becomes an arduous process, but our chargeback experts can help you win the struggle.
These sorts of fraud websites never last long, as the swindlers scurry like cockroaches with the first light of the law.
The better portion of victims reside in these areas:
If you believe to have been defrauded by Jubix, contact our legal experts to weigh your reimbursement options.
Although a dedicated phone app is available as well, we can’t recommend downloading it since it’s not featured on either Google Play or App Store. This tells us that the app did not pass the security screening process, and may contain a keylogger, tracker, or some other type of malware.
The Jbcoin-ex platform is incredibly simple, as it only allows users to select an asset, and place an order. The order execution technology is never discussed, nor are any security measures.
Here we get to one of the most problematic parts of the entire operation. The company only offers market and cryptocurrency derivatives that have been banned in most parts of the world as their tradable assets.
This is the full list of trading instruments:
With as little as 12 individual instruments, the selection is so small it’s laughable. Cryptocurrency exchanges feature tens of thousands of different coins or tokens on average, with a legal trading background.
Creating an account for Jbcoin-ex login is simple, and only takes a few steps. These con-artists aren’t picky, we’ll tell you that.
There is only a single trading account type, however, and the conditions it offers are not defined anywhere on the website. A demo account is not included in the selection, and no risk-free analysis can be performed to evaluate the trading environment.
You won’t be able to tell how much working with this exchange will cost you, not until you’ve already spent some time and money on it. None of the expected Maker and Taker fees, commission, or even leverage are openly discussed on the website. The only listed cost is a handling fee of $25 for withdrawals, and that’s it.
This problem is twofold, as first of all regulators require utmost transparency then it comes to costs, profits, and other trading conditions. The other part is that without a clearly stated pricing model, these deceivers can pull any sum out of thin air, and ask for a payment up-front.
The payment channels for Jubi withdrawal are different from the one used to deposit money. This is a blatant disregard of worldwide AML regulation, and is again a breach of current legal framework.
Any client deposits are done straight to the company’s bank account, which means there’s no account segregation, or decentralization. Payouts, on the other hand, are only handled through cryptocurrency transfers of select coins (USDT, USDC, ETH) via the ERC20 blockchain network.
Judging from how the entire platform works, it’s unlikely that the fraudsters will allow any payouts. Our chargeback experts can help, so get in touch with us for a free consultation session.
There are no redeeming qualities for this fraudulent cryptocurrency exchange. The trading environment is ramshackle, and the company offers illegal trading instruments to their clients. Additional problems arise when you attempt to withdraw, with the many undisclosed costs and hidden fees.
Finding out your money ended up lining the pockets of some cybercriminal is never easy. It’s not all over, though, as there is still hope of recovery with the help of our experts! Contact us any time via the live chat, and book your free consultation.
It’s not clear who exactly is behind this fraud scheme, as there is no legal information on the company website.
We are absolutely sure Jubi is an unlicensed cryptocurrency exchange scam, which is more than likely to steal your assets.
Getting your money back will require legal action. Book a free consultation with our team of professionals to learn about your chargeback options.
The post Jbcoin-Ex Review – Mobile Website Hiding An Insidious Crypto Scheme appeared first on Global Fraud Protection.