Smartxchange.live has been flagged as a fraudulent cryptocurrency exchange. The website promises substantial returns on investments, however, once the funds are deposited, the fraudsters abscond with the money. The website, at the time it was discovered, was a mere 95 days old. There’s no customer service contact number listed on the site, and the company is not officially registered in the state it claims to operate from. Furthermore, the company lacks a significant presence on any social media platforms.
A crypto exchange scam is a fraudulent scheme where a company or website poses as a legitimate cryptocurrency exchange. They lure investors with promises of high returns, but once the investors deposit their money, the scammers disappear with the funds.