Clues That Expose a Fake Exchange
Check URL and company identity first, then app source and support channels, then withdrawal rules. Private-wallet deposits and fee-before-withdrawal demands are major red flags.
Checks Before Any Deposit
- The CFTC has warned that fraudulent crypto sites often promise high returns, low risk, or easy withdrawal.
- The FBI advises victims to stop sending money and preserve transaction information for reporting.
- Taiwan's FSC has warned about guaranteed-profit claims and demands for extra payments before withdrawal.
Website and App Verification
- Do not click stranger links. Type the official URL or use a saved bookmark.
- Check whether legal name, support email, announcements, and social accounts match.
- Install apps only from official stores or official website entry points.
- Search the platform name with scam, withdrawal, complaint, or fraud keywords.
- If withdrawal requires extra payment first, stop and save evidence.
Common Mistakes
- Treating a group admin's link as official.
- Installing unknown apps through TestFlight, APKs, or enterprise profiles.
- Sending more money because the fake dashboard shows profits.
Related Reading
- Crypto Scam Checklist for Taiwan Investors
- Wrong Network Transfer? ERC-20 vs TRC-20 vs BEP-20 Explained
- Crypto Tax Guide for Taiwan 2026
FAQ
Q: If small withdrawals work, is the platform safe?
A: No. Some scams allow small withdrawals to build trust before blocking larger withdrawals.
Q: Does an SSL lock prove legitimacy?
A: No. SSL only means the connection is encrypted, not that the platform is legitimate.
Q: What if support says I must pay tax before withdrawal?
A: Stop sending funds, save evidence, and verify through official channels or law enforcement.
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