Welcome to our EXmart review regarding the website at exmartexe.com.
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On September 16, 2023, we received the following complaint from a person who reported being scammed for about $30,000:
I got the WhatsApp phone number from exmartexe.com. They told me how to proceed. They said I could short BTC using this website.
So what is EXmartexe, and is it a SCAM?
EXmartexe.com Review
Exmartexe.com was registered for one year on February 24, 2023, through PDR Ltd. d/b/a PublicDomainRegistry.com. GDPR-masked.com and Cloudflare protect it.
SimilarWeb ranks them at 11,593,327 globally and 3,260,559 in the United States. In August 2023, they received 1.1K visits, mainly from the United States and Japan.
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On Google, only two pages from the website are indexed: The homepage and /wap/. Both are titled “EXmart.”
The description of the homepage:
We store the vast majority of the digital assets in secure offline storage. Protected by insurance. EXmart maintains crypto insurance and all USD cash balances …
The description of /wap/, a page designed to look like a mobile app:
Exchange · Consume Record · Invite friends · Financial.
EXmart, as described on its website exmartexe.com, portrays itself as a global cryptocurrency exchange. The exchange boasts a significant 24-hour trading volume of 790,347,220 USDT and provides a platform for trading various cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Ripple, and over 300 other coins.
The platform has an app available on iOS and Android to attract users further. One of the platform’s prominent selling points is its security features; it claims to rank within the top 10 globally based on volume and liquidity. Additionally, EXmart emphasizes its in-house developed security system, described as having multiple fail-safe layers, which purportedly gives cryptocurrencies a level of protection akin to bank-grade security.
Their services also include 24/7 customer support. As an incentive, the platform offers opportunities to earn cryptocurrencies, with potential earnings of up to $100 worth of crypto. The website also claims to have secure digital asset storage, with the majority being stored in offline storage. Moreover, EXmart claims to have crypto-insurance, and all USD cash balances on the site are allegedly covered by FDIC insurance up to a maximum of $250,000.
Red Flags
- Domain Name: The domain name “exmartexe.com” sounds a bit unconventional. Typically, official exchanges use simpler and more intuitive domain names.
- Vague Details: While the website boasts of being ranked top 10 globally by volume and liquidity, it doesn’t specify the source of this ranking or how it’s determined.
- Overemphasis on Security: While assuring users of security is not inherently suspicious, overemphasizing it can be a tactic to allay fears in potential users. Combined with the unconventional domain name, this might raise eyebrows.
- Generous Incentives: The promise of earning up to $100 worth of crypto just by discovering how specific cryptocurrencies work could be viewed skeptically. Generous offers can sometimes be a tactic to lure inexperienced users.
- Lack of Regulatory Information: The website does not provide any clear regulatory or licensing information or mention where the company is based. This absence of transparency can be a significant red flag for a financial platform.
- Insurance Claims: Claiming FDIC insurance on USD cash balances is a significant claim. However, it might appear suspicious without details or clear documentation to support this.
- Empty About Us/Company Profile Page: A legitimate and reputable company typically provides comprehensive details about its mission, history, leadership team, and other relevant information on its “About Us” or “Company Profile” page. An empty page raises serious concerns about the legitimacy and transparency of the platform.
- Unconventional Download Links: Direct download links are a significant red flag instead of leading users to official platforms like the App Store or Google Play. Authentic applications usually take advantage of official app stores because they offer an additional layer of security and verification. Direct download links can be used to distribute malicious software, steal user data, or introduce user device vulnerabilities.
Conclusion
Considering these concerns:
- Domain Name being unconventional
- Vague details about global rankings
- Overemphasis on security
- Generous incentives that might be too good to be true
- Lack of regulatory information
- Insurance claims without clear support
It’s increasingly clear that potential users should approach this platform with caution. Always recommend doing due diligence, such as checking for third-party reviews, verifying the authenticity of claimed certifications or insurances, and refraining from downloading software from unofficial sources.
EXmart Reviews
Several review and verification sites analyze exmartexe.com. For example:
- Scam Detector’s algorithm ranks exmartexe.com with an authoritative rank of 58.20, indicating the business is active but mediocre.
- Scamdoc.com gives Exmartexe.com a very low trust score of 1%, labeling it as “very bad” and warns that it’s only for experienced users.
Additionally, an article on Anwalt.de, dated 14 Aug 2023, suggests that EXMart (exmartexe.com) might not be reputable.
Anwalt.de: Exseslead and EXMart Scams
The Broker Fraud Attorney author shares concerns (in German) about Exseslead (exseslead.com). An investor approached the author revealing that despite promises, he never received a payout from Exseslead, hinting at a possible scam.
Despite the professional look of Exseslead’s website, the author cautions readers, noting that many financial fraudsters create polished websites to appear trustworthy and attract investments.
There’s a recent tip about another trading platform, EXMart (exmartexe.com), whose suspicious activities reportedly mirror Exseslead’s.
On August 14, 2023, the Cybercrime unit from Bavaria achieved a significant breakthrough by busting a fraud network and seizing luxury assets.
The investor’s unfortunate experience with Exseslead began with positive impressions from their website, leading him to invest. However, after transferring money to a Polish bank account, contact with Exseslead was severed, and his withdrawal requests were ignored, signaling potential fraud.
The article also details a scam incident from the author’s office, where a client was lured into a scheme by a “Mr. James Carlton” found on Instagram. The client was conned into making significant investments with the promise of substantial returns. These promises culminated in a fake story of a cash suitcase getting “seized” at a border and led to the client making more payments under duress. The ordeal ended with the client losing a lot of money.
In the concluding part, the author mentions EXMart (exmartexe.com), describing it as not reputable. An individual reported being deceived by the platform after transferring money through Crypto.com. She couldn’t easily detect the website’s fraudulent nature on Google and realized the warning signs too late. She’s now looking for help and wondering about the possibility of recovering her money.
The overarching theme of the article is to spread awareness about the fraudulent nature of platforms like Exseslead and EXMart, urging potential investors to exercise caution.
EXmartexe.com Review on Scamadviser
EXmartexe.com’s legitimacy is questionable, and there’s a small risk associated with the website, according to Scamadviser.
Trustscore: 67/100
Reviews: 1/5 based on 2 reviews.
Consumer Reviews:
- Harold Smith labeled it as a “Scam”.
- Jason A. Gutjahr reported dissatisfaction, mentioning an issue with withdrawing his money. He claimed the site holds $9100 US Dollars that belong to him. He writes:
Not happy at all. I tried to withdraw my money, and now they’re telling me I need to deposit more money into the account before I can withdraw what’s already there. They’re holding $9,100.00 US Dollars that rightfully belong to me!
Negative Aspects:
- Tranco indicated the site has a low rank.
- The site’s registrar is associated with a high percentage of spammers and fraudulent websites.
- The website has garnered negative reviews.
- The website is very young.
- Content analysis of the site was unsuccessful.
- The website’s registrar has a history of attracting low trust-score websites.
A recommendation is made for users to conduct their own research before determining the website’s authenticity.
Conclusion
After an in-depth analysis of EXmartexe.com, multiple red flags that question the platform’s legitimacy have surfaced. The tip of the iceberg is the unconventional domain name, vague ranking details, excessive emphasis on security, and overgenerous incentives. The lack of clear regulatory information and unsubstantiated insurance claims further raise concerns. Trusted third-party review sites have also raised warnings regarding the platform’s authenticity.
Feedback from users such as Jason A. Gutjahr, who faced withdrawal issues, adds to the growing list of concerns. Furthermore, associations with other potentially fraudulent platforms, as mentioned in the Anwalt.de article, paint a troubling picture.
Bottom Line
Considering all these factors, potential users and investors are strongly advised to exercise extreme caution when dealing with EXmartexe.com. Before making any financial commitments, it’s imperative to thoroughly research and verify platforms, especially in the digital currency space. Prevention, in such cases, is indeed better than cure. If, unfortunately, you’ve become a victim of such a scam, remember that avenues are available for help and recovery.
If you are a victim of online scams, please let us know by commenting below, and if you have lost a significant amount of money, do not lose hope. We can help you recover your funds!
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