ShakePayEx Review – Is ShakePayEx SCAM?

We’re writing this ShakePayEx Review today due to a complaint that was reported to the Better Business Bureau on October 25, 2022 by a person who lost $90,000 at He writes:

First, they will let you withdraw small amount, but later you have to pay big tax before withdraw the money, after tax pay, they charge 2000 a day for pay late, holding your assets

ShakePayEx should not be confused with ShakePay, a legitimate Canadian cryptocurrency exchange. Check out our ShakePay Review.

What is ShakePayEx? is available in English and Chinese.

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The mobile version of the site looks much better, and it is obvious that the site was designed with a mobile first approach.

According to the website, this is a global trading platform. Here are some of the claims we find on their homepage:

“Top 50 digital currency exchange in the world.”

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    “Security of assets guaranteed by state institutions.”

    They have filled orders in the last 24h for “$71,048,616,39” [sic]. We hope they mean $71,048,616.39.

    They are a global quality exchange with a CoinMarketCap certified rank and “1 million orders/s high-performance engine matching system.”

    They are a “3-year well known brand” with 5 million+ users, HSM Safeguard (Bank Level), and a “professional distributed frame,” and “system stop from DDOS attack.”

    They provide an international, global ecosystem which sets local-custom operation service.

    Some of the services they allegedly provide are an Exchange with 24/7 online trading, a lower gap and higher liquidity, in which more qualified new coins get listed, and options trading with low procedure rate and high market-making commission on the world’s first partner trading platform.

    In short, we find a very senseless, unintelligible text.

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    They offer apps for iOS and Android, however you will not find them on Google Play or the App Store. The apps are available to download from the website itself, which we do not recommend you do.

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    We also notice that ShakePayEx is a Shakepay imposter. We know that because of the website’s title, which is “Shakepay.”

    ShakePayEx Mobile Platform - Screenshot

    Who is Behind ShakePayEx?

    Does this “World’s Leading Trustworthy Crypto Assets Platform” have an About us page?

    None that we can see. There’s just an homepage.

    The only relevant About and Contact information include:

    Company name: Shakepay Limited (copyright begins in 2017).

    Support email/Listing application/Join us:

    No social media account such as LinkedIn profiles, registered address, or telephone numbers are available.

    The domain was registered on March 5, 2022 through the NameSilo, LLC registrar for one year. The identity of the owners is hidden by a privacy service provided by

    ShakePayEx Review – Is ShakePayEx a SCAM?

    Besides the many errors on, the bad website design, and the ShakePayEx scam review we opened this article with, what other proof is there that ShakePayEx is a fraudulent website?

    The domain is about 9 months old so there should be plenty of complaints online if indeed they are a scam.

    We already debunked their claim to be a “3-year well known brand” by finding their website is just 9 months old.

    What about their claim of being “5 million+ users” though?

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    Before looking for ShakePayEx reviews, we want to assess how popular the website is.

    We discover that they are not at all popular and do not even have a SimilarWeb page.

    Semrush confirms that their Authority score is 0 with only 2 backlinks from a website that seems to be a Chinese directory of online scams.

    ShakePayEx Review - Screenshot

    ShakePayEx Reviews

    Are there any Google reviews claiming the site is a scam?

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    Surprisingly, not too many.

    TrustPilot gives them an average rating of 2.9 stars out of 5 based on 2 reviews.

    One of the reviewers recounts, on October 30, 2022, how he was approached via text by an Asian woman who claimed to have the wrong number.

    She kept texting and developed a friendship with him. She used an elaborate scam that involved verifying herself with FaceTime and pictures.

    Over the span of four months, she coaxed him into investing in a fake site called, which was disguised as

    He lost $150,000 before realizing it was a scam, and his friends lost a total of $75,000 as well.

    The site is a frontend that falsely shows great returns and freezes accounts when users try to withdraw large amounts. It is a pyramid scheme that lies, cheats, and steals.

    Since the only two reviews give the site a 1 star rating, we’re not sure why TrustPilot gives them 2.9 stars.

    On, they have a 1 out of 100 Trustscore.

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    There are also some ShakePayEx complaints on Reddit, such as this. Here’s a summary of the complaint:

    The complainer received a text from someone claiming to be an employee of Boston Consulting Group who apologized for having the wrong number.

    The two of them chatted about daily life for a few days before moving to Whatsapp under a different phone number.

    The person claimed that the original number was their work phone and both numbers had Boston area codes.

    He spoke with them on video chat and the phone, and they sent voice messages from time to time.

    They then claimed to trade crypto regularly and said that their uncle advised them on when the market was right.

    They proceeded to teach him how to transfer money to a fake exchange and he followed their advice, seeming to make a profit.

    They then said that a rare node was approaching that required a minimum investment of 10,000, which he acquired with their help.

    However, he accidentally lost the money by not following their advice.

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    He then took out a loan on his 401k and added money from his bank, reaching 25,000 with their help.

    A few weeks later, another rare node was approaching that required a minimum investment of 50,000, so he took out a personal loan and the person contributed the same amount, allowing him to reach the target.

    He questioned why they were willing to help him profit, and they claimed it was because they thought he was a good person.

    He was feeling good and had made 76,000 in profit.

    However, another rare node was approaching that required a minimum investment of 150,000 and he was almost at the point of taking out another loan.

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    He tried to withdraw 20,000 from the fake exchange, but it has been two days and the transfer has not gone through. When he contacted the fake app, they said he needed to pay a 13,000 tax to the federal government.

    Network of Related Scam Websites is a part of a network of similar websites.

    We choose the idiosyncratic text “Procedure rate is low, market – making commission is high” from and loook for other websites who contain this phrase.

    Here’s a list of websites we find, all our ShakePayEx clones:

    • – very slightly popular
    • – slightly popular in France
    • – slightly popular in Pakistan
    • – slightly popular
    • – very slightly popular

    All of these websites are scams!

    ShakePayEx Review Conclusion

    In conclusion,, and the other sites related to it, are clearly not real websites, at least in their non-mobile version.

    They were not designed to be found on search engines. It’s a kind of scam known as “pig butchering scam”  in which the scammer creates a friendship with the victim, entices them to send more and more money to a fake website, which apparently shows gains, and when a a withdrawal is requested, the new “friend” disappears.

    To conclude this review, ShakePayEx is definitely a scam, to which people have lost huge amounts of money.

    If you have any first hand experience with ShakePayEx or one of the related sites, please leave a comment below this review.

    If you have lost a significant amount of money to online scams, such as ShakePayEx, do not despair! We can help you recover your money.

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