Skytorex Review – Bogus TikTok Giveaways Steal More Than Money

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Nearly every part of the skytorex.com website is recycled from another platform one way or the other. This ranges from logo and corporate imagery, all the way to background pictures, text blocks, and other.

Like the cheap knock-off tracksuits you find in the bargain bin, the purpose of this mimicry is to deceive the traders and make them believe they are getting a premium service for a fraction of the price. Unfortunately, everything you ever get with these websites is net financial loss, as you will see in our Skytorex review.

The suspicious business doesn’t appear in the state register of legal entities. Malta’s authority has designed strict policies that regulate issuing licenses to virtual financial asset providers, and this one clearly has none. What’s more, they also do not appear in any Tier 1 registry of licensed crypto providers that leading regulators like FCA, CySEC, BaFin and FINMA keep.

The catch is, in order to become eligible for these “special promotions”, all new clients have to make a deposit. TikTok is predominantly populated by youths who have no real experience in the volatile and cut-throat cryptocurrency markets to whom these offers seem like a deal of a lifetime.

In reality, all of the invested money gets pilfered by the fraudsters one way or the other. The danger is not only financial, unfortunately. The platform actively disseminates various malware that leaks the victims’ personal information to various unscrupulous 3rd parties.

While nobody is really safe from the fraudsters, they seem to prefer these particular nations:

If you, or somebody you know, has invested with this faux cryptocurrency exchange, feel free to contact our legal experts. With our help, you may still recover lost money, so don’t give up yet!

Unscrupulous technological solutions like the Skytorex platform cannot compare to the reliability and abundance of features that advanced platforms provided by crypto magnates offer. The simplistic and plain web terminal adjusted for simple crypto transactions and investments found on this suspicious site is barely responsive. 

It’s packed with charts and other information that is irrelevant and should rather be optional. The approach surely helps build an illusion of usefulness and in-depth information processing, but reality is different. These software solutions are often heavily manipulated and include malware.  

The exchange seriously lags behind their legit competition, however, as only the most popular assets are covered. These include BTC/USD, ETH/USDT, ADA/BTC, XRP/ETH, SOL/BTC, DOGE/ETH and some others.

The first obstacle we faced when registering for a Skytorex account was the fact that not every email address is accepted. That means that the platform only wishes to allow in users whose email addresses can easily be accessed remotely. 

Otherwise, there’s no clarification on which account types are available. There’s a hierarchy that consists of 7 levels in total that users climb based on their trading volume. As a result of the bigger volume traded, you can unlock lower fees.

The starting costs for every newly joined customer are 0.075% / 0.075% as Maker and Taker fees. As you progress and up your trading game, you can unlock lower fees. Level 7 investors allegedly access the lowest trading fees of 0.035% / 0.045%.

As for the funding fees, they differ based on the crypto currency chosen. Some of the more popular digital currencies are listed as examples. For instance, the BTC deposit and withdrawal fee is 0.00005 and 0.00013.

There’s no information about the airdrops that the platform allegedly features in regular intervals. These are reserved for TikTok, after all.

A referral programme is involved in the bamboozle, where the people who were already burned are encouraged to find more victims. Only registered users have access to details of this scheme.

Buying crypto using your credit card on this service is something we can’t recommend. The mentioned crypto processors listed on the fraudulent domain are all known to be involved in unscrupulous actions multiple times. Some of the more notorious ones are MoonPay and Mercuryo.

These payment services are known to be cooperating with a number of blacklisted scam campaigns run by fake exchanges and faux offshore brokerages. So please do not share your credit card information or bank account details with these greedy miscreants. 

The longer the victims wait before they take action, the more time the swindlers have to plan their getaway. Don’t let your money go to waste! Contact our legal experts as soon as possible, and start your recovery process today!

It is a fraudulent website intended to steal the victims’ money and personal information.

Everything on the Skytorex platform is completely fake. There are no opportunities, only ruin!

It is possible to get your stolen cryptocurrencies, however it is especially difficult because of the technology involved. Book a free consultation with our expert team for help with the recovery process.

The post Skytorex Review – Bogus TikTok Giveaways Steal More Than Money appeared first on Global Fraud Protection.

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