Attention! Fraud company!
Leave a request for a refund from a scammer.
Cryptocurrency trading is becoming more and more popular, as a result of which many new exchanges are appearing. The choice of site should be treated with caution, as there are many scammers on the Web. Today we will talk about 50x.com, a crypto exchange that has managed to deceive many traders. You will find out what divorce scheme scammers use, as well as what they write about in reviews.
Get instructions on how to withdraw funds
Basic information about 50x.com
The hero of our review positions itself as a new generation crypto exchange, where the maximum security of customer funds is ensured and the most modern technologies are applied. All modernity can be seen at the first glance at the site: it looks stereotyped and faded. The project has existed since 2018. During this time, only 18 dollars were invested in it. Fraudsters got much more from deceiving investors.
The creators of 50x.com prefer to remain anonymous. There is nothing strange about this: when a flurry of negative reviews from pissed-off customers hits the crypto exchange, they will want to avoid responsibility. The scammers do not want to be distracted by the calls of the traders they scammed, so they only indicated their e-mail and Telegram channel.
50x.com has Twitter and YouTube pages. They are practically not maintained: the last entry on Twitter is dated 03/18/2021, and videos on YouTube were released a year ago. In addition, charlatans do not disdain to cheat bots. On Twitter, they allegedly have nearly 3,000 followers, but the pinned post has only 36 likes. YouTube shows the real picture: there the number of subscribers is 380.
We could not find the address where the office of the fake exchange is located. The footer shows the company Smart Token Exchange Ltd. A search on the Web showed that it was listed on the site of another scammers - STeX. It turned out that STeX was the name of 50x.com before the rebranding. It is not surprising that he was needed: in the reviews, ex-clients write that arrogant swindlers, without a twinge of conscience, appropriated large sums for themselves.
The hero of our review boasts that he is on the CoinMarketCap list. We checked this information, and it turned out that 50x.com is really there. However, 124th place with a score of 3.9 does not inspire confidence. In addition, trade volumes are constantly declining. This is due to the fact that traders finally began to read reviews about scammers and stopped carrying money to them.
50x.com hid its legal documents securely by tucking them under the registration form. They also list Smart Token Exchange Ltd, which is registered in Saint Vincent and the Grenadines.
The audit showed that there really is such an organization in the register of legal entities of this state, but do not flatter yourself: Saint Vincent and the Grenadines is an offshore zone that is known for loyal registration requirements. Any scammers who will pay a symbolic amount can get a “registration” there.
The “User Agreement” itself hides a lot of “pitfalls”:
- the crypto exchange has the right to resolve all disputes on its own (judging by the reviews, not a single verdict was in favor of the trader);
- breeders can stop serving the client without warning, while all losses will fall on the shoulders of the latter;
- scammers refuse to compensate the user for losses incurred through their fault.
The work of cryptocurrency exchanges at the legislative level is poorly regulated. We are sure that this is the reason why the 50x.com scammers have chosen this type of activity, because you can always say that licenses for it are not issued.
Overview of offers
All information is concentrated on the main page of the site. 50x.com focuses on the security of storing funds and praises the lack of KYC, as well as 3-factor account protection. Clients are promised:
- Any2Any quantum core, thanks to which you can allegedly work directly with any trading pair;
- technical support 24/7;
- the ability to set a stop loss;
- emergency withdrawal wallets;
- professional trading terminal with customizable interface;
- three own tokens, which can only be bought for ETH;
- fast withdrawal of funds (nothing is said about the options for replenishing the account and withdrawing money).
50x.com offers to lure new victims to the platform. The trader is promised from 25 to 40% from the commissions of each attracted client. We could not find any reviews that the crypto exchange fulfills its promises under this program.
Feedback analysis
While writing the review, we saw a lot of reviews written by copywriters commissioned by 50x.com. You can calculate them without difficulty: in such comments there is no specifics, only laudatory odes.
No matter how many positive reviews you order, the voices of real traders cannot be drowned out. On the Web, we managed to find comments where users call 50x.com a project created for the purpose of divorce.
The essence of divorce
50x.com promises clients an increased level of data privacy and trading security, bonuses and a wide selection of trading pairs; anything, as long as they replenish the account. After this, there will be no turning back: the “User Agreement” contains clauses that allow the crypto exchange not to withdraw money, justifying itself with technical failures or force majeure. If the user makes claims, they will allegedly be considered and denied due to groundlessness. There is nowhere to wait for protection: we doubt that the deceived traders will go to Saint Vincent and the Grenadines to sort things out.
Summing up
The lack of an address and phone number, concealment of information about the creators of the project, a cheap website, registration in a notorious offshore company and a bunch of negative reviews are far from a complete list of facts proving the fraudulent actions of 50x.com. If you don't want to say goodbye to the money you earned with sweat and blood, bypass this exchange on the tenth road!
Russian 
English 
Polish