Volemex.com Review – Another Template-Built Crypto Fraud

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One of the first warning signs you’ll see while browsing volemex.com is the name of the alleged company founder. This is Hank Weizen, a fictitious persona that is associated with many recent online cryptocurrency fraud sites.

Starting with the company legal information, we can see that everything presented is a carefully orchestrated deception. The given address on the website is located in Dublin, where a Bank of Ireland branch office is situated instead of any cryptocurrency exchange.

The swindlers behind this site are adamant that the cryptocurrency industry is “largely unregulated”, which may be true, but only for some parts of the industry. In reality, the CBI governs the regulation of cryptocurrencies in Ireland, and this company should have a license to provide their services.

Volemex.com crypto fraud uses boiler room agents who use social networks to approach the younger, less experienced traders.

They offer various crypto coin airdrops, a kind of a free giveaway. Offers usually include promotional videos that abuse the likenesses of various celebrities these funds are said to originate from.

Allegedly, anybody can benefit from these giveaways as long as they invest a certain amount. Of course, the whole airdrop thing is a ruse, and the money gets stolen instead. It’s not lost forever, though, so consult with our legal experts in order to start your recovery.

The site was actually launched in October 2023, actively targeting these countries:

Main trading platform is a basic web trader, woefully insufficient for the task of crypto market speculation. It includes no advanced tools, like separate time frames or economic calendars.

Clients can’t procure the cryptocurrencies directly from this platform, and instead have to rely on one of the 3rd party services the company advertises instead. The problem is, many of the listed services are known crypto scam sites in their own regard.

The selection of assets is miniscule, with only around 25 different cryptocurrency pairs and no tokens. Only the most popular coins are covered, including BTC/USDT, ETH/USDT, BNB/BUSD and ADA/ETH. For comparison sake, mainstream exchanges usually offer tens of thousands of various coins and tokens.

Only live trading is available on the platform, but the details of Volemex.com account are not discussed anywhere on the website.

After gaining access to the client area, we found out that the minimum deposit amount is 0.005BTC, which is around $185 at the time of writing this Volemex review.

Some crypto staking is hinted on the platform, with advertisements of up to 18% APY for some coins. The dashboard, however, only allows staking for up to 28 days.

The starting Maker and Taker fees are 0.2% on the platform, which is nearly ten times higher than what most exchanges charge. The website advertises that “regular clients” may get a discount to 0.14%, which is still incredibly high. The requirements for getting these discounts are not disclosed, however.

It seems as though there are no deposit fees, but you can never be sure when it comes to these faux platforms. Withdrawal fee is high as well, charged 0.005 BTC for TRC20 network transfers.

The three-stage referral structure brings a percentage of commission from the friends and family you bring in. For category A referrals you get 50% of the commission, category B brings 10%, and for category C you get 2.5%. Also, each time your affiliates deposit, you get 0.01% (in BTC) of the sum.

The entire payment system at volemex.com is reserved for crypto transfers. As if the anonymity of this financial channel doesn’t give enough headache to traders, there’s also vicious fees you should look out for. For example, upon every account funding or payout, the company deducts 1% fee directly from your account balance. 

Furthermore, every first-time withdrawal is charged with 25% of the entire amount. Pretty ruthless you’d say, but that’s just the information given in the legal docs. Considering this is not a legitimate service provider, you can expect other sudden fees and excuses used to rob you. 

It is unclear whether the fake persona behind this bogus crypto platform, Hank Weizen,  is the one running the con or the one that created the website template, but the results are alarming nonetheless.

All over the world, people are complaining about being defrauded by this exchange. If you are one among the many, don’t lose hope! With the help of our specialist, recovery is still possible, so book a free consultation today and start fighting back for what is yours!

It is a purpose-built crypto exchange fraud website, one of the many of its kind.

No, the company is completely illegal as it is neither a registered nor a regulated entity.

Recovery is possible, but it requires specialist help. Consider booking a free consultation with our experts for help.

The post Volemex.com Review – Another Template-Built Crypto Fraud appeared first on Global Fraud Protection.


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