Illicit Cryptocurrency Provider
Commencing with the company’s legal information, it becomes evident that everything presented is a meticulously orchestrated deception. The provided address on the website is situated in Dublin, where a Bank of Ireland branch office is located, rather than any legitimate cryptocurrency exchange.
The perpetrators behind this site insist that the cryptocurrency industry is “largely unregulated,” a claim that may hold some truth but is applicable only to certain segments of the industry. In reality, the Central Bank of Ireland (CBI) oversees the regulation of cryptocurrencies in Ireland, and this company should possess a license to offer its services.
A perusal of the CBI register reveals that this firm lacks a license in this jurisdiction. The company is absent from the registers of regulatory bodies such as NFA, AUSTRAC, CySEC, BaFIN, and others.
Deceptive Crypto Giveaways
The Volemex.com crypto fraud employs boiler room agents who utilize social networks to approach younger, less experienced traders. They entice individuals with various crypto coin airdrops, resembling free giveaways. These offers typically feature promotional videos exploiting the likenesses of celebrities, claiming that the funds originate from them.
Supposedly, anyone can reap the benefits of these giveaways by investing a certain amount. However, the entire airdrop concept is a sham, and instead of receiving rewards, investors end up having their money stolen. While the funds may not be irretrievably lost, seeking advice from our legal experts is recommended to initiate the recovery process.
Targeting European Nations
The scam utilizes fake information to lend an air of credibility to the entire scheme. Despite the company’s claim of being in operation since 2018, information from the WhoIs database tells a different story. The website was actually launched in October 2023 and actively targets the following European countries:
- France
- Germany
- Italy
- Spain
Limited Asset Selection
Clients are unable to directly acquire cryptocurrencies through this platform; instead, they must depend on one of the third-party services promoted by the company. The issue arises as many of the listed services are recognized as cryptocurrency scam sites in their own right.
The range of available assets is extremely limited, comprising only about 25 different cryptocurrency pairs with no inclusion of tokens. The platform covers only the most popular coins, such as BTC/USDT, ETH/USDT, BNB/BUSD, and ADA/ETH. By way of comparison, mainstream exchanges typically offer tens of thousands of various coins and tokens.
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