Is FameEX a scam? How should investors identify the real and fake official website? In-depth discussion on its legitimac

introduction

FameEX is a global cryptocurrency exchange that is popular among users in Southeast Asia, the United States, Australia and other regions. Recently, some users have discovered that there are fraudulent platforms on the market that use phishing websites to impersonate the FameEX brand to mislead consumers into investing. After in-depth research and verification by multiple users, such websites are all phishing websites, and the operation of the FameEX official platform is legal and safe.

Background

In June this year, an investor encountered a scammer named Jackson Qie. Qie took the initiative to send him a phishing text message, and the two later communicated on WhatsApp. The scammer sent a phishing link (fraud link: https://fameexio.com, please do not visit!) to the investor, asking the investor to transfer a total of more than $113,000 in Ethereum (ETH) and Tether (USDT) to the phishing website. When the investor asked to withdraw the money, the scammer asked him to pay a high withdrawal fee and eventually defrauded all his virtual assets.

The Securities Division of the Washington State Department of Financial Institutions (DFI) has received a complaint from the investor regarding this fraud case. The DFI stated that the fraud site has been stopped from being accessed and the fraud method appears to be what is commonly known as the pig slaughter (external link) scheme, which is a phishing link fraud method.

Source des images : Washington State Department of Financial Institutions (DFI) Securities Division鈥檚 public news on phishing cases (please do not visit the phishing website in the picture)

From the case details published by the regulatory agency DFI, it can be seen that the investor obviously encountered a phishing scam. The phishing URL is not the official address of the FameEX platform. The official website of the platform is: www.fameex.com, which mainly provides users with cryptocurrency spot, derivatives and original copy commerce products, aiming to provide convenient trading services for global financial investors.

Image source: Google Search

FameEX Compliance Introduction

As a compliant global cryptocurrency exchange with derivative trading tools as its core, the FameEX brand was born in Singapore and has established branches in Australia, the United States, the United Arab Emirates and other countries. It has successively obtained financial licenses from Singapore, Australia and the United States, and operates related businesses in compliance in 14 other countries and regions.

In order to better comply with Singaporean policies, FameEX operates in Singapore as a foundation and is directly supervised by the Monetary Authority of Singapore (MAS). In Australia, FameEX has legally registered an international financial company and is supervised by the Australian Securities and Investments Commission (ASIC), with an Australian virtual asset trading license. This form not only complies with the cryptocurrency regulatory policies of various jurisdictions, but also meets the actual needs of the FameEX platform in its globalization process.

Therefore, from the perspective of legality and compliance, the FameEX platform has always adhered to compliant operations, and has made fine-tuned adjustments in product innovation, fund security, team building, etc. in accordance with expected regulatory requirements. Adhering to the core concept of making professional transactions simpler and wealth upgrading easier, it provides global users with legal, compliant, safe, stable, simple, fast, fair and transparent digital asset trading and derivatives trading services.

How to recognize and prevent phishing scams

According to reports, there are several other cases of users who have been lured by fake websites and lost their investment funds. These users have not surprisingly received private messages from enthusiastic investment seniors on major social media platforms. Under the guise of teaching investment strategies, they sent fraudulent links to the victims. In the end, the investors lost all their principal after being defrauded. Even if they report the case in time, it is difficult to recover the defrauded funds. Therefore, what can investors do to protect their investment process from fraud or non-trading investment losses?

1. Do not accept any approach from unfamiliar mentors

The first step of scammers is to approach investors through various channels. We should be wary of approaches requests from Twitter private messages, Telegram private messages, and unfamiliar emails. We should not interact with any strangers on investments or communicate investment strategies, as these actions are often the first step in scams.

Image source: Twitter private message (content is a scam pick-up)

The typical characteristics of this type of fraud case are that they use the names of well-known KOLs or well-known platforms, or use their names to raise the return on investment of a certain type of investment product, and use extremely tempting guiding words such as big golden dog, zero risk, high return, high prospects, etc. to attract the attention of victims. Therefore, when we receive such strange private messages, please be sure to block or delete such information.

2. Do not accept investment help from any unfamiliar mentors

There is no free lunch in the world, and no investment expert will selflessly help users participate in a certain type of investment unless he is targeting your principal. Therefore, if you accept a friend request from a stranger, please be aware that once his chat content involves extremely tempting words such as help you invest, I have made money, someone got rich, help you make money, dont miss the opportunity, close soon, or any words that require you to invest real money, you need to be highly vigilant. If he sends you an unknown website and tells you that this is the official website of a well-known brand, please dont click it! Dont believe it! This must be a scam, and his ultimate goal is your principal.

3. How to identify the authenticity of the URL you encounter

When communicating with people, please do not click directly on any URL you encounter. Well-known platforms such as Binance, OKX, Coinbase, FameEX and so on can be searched on Google and their official websites can be found. Please search the correct website from Google before visiting. This way, you can visit the correct URL without worrying about clicking on phishing websites and suffering financial losses. For example, the following picture shows a common fraudulent URL impersonating a well-known brand. The left side is the correct brand name, and the right side is a phishing URL. Please be careful to distinguish!

Source des images : National Kaohsiung Normal University, Taiwan (Please do not visit the phishing website in the picture)

4. What should you do if you accidentally encounter a phishing scam?

It should be noted that although some consumers have been scammed by fake FameEX brand phishing scams on the Internet, all cases are caused by personal operational errors of users or unauthorized third-party behavior. FameEX itself has not committed any direct fraud. The relevant statements or detailed announcements from the Securities Division of the Washington State Department of Financial Institutions (DFI) and the National Kaohsiung Normal University in Taiwan can explain the whole incident and publicly disclose the fraudulent website.

In addition, FameEX regularly accepts relevant reviews from financial regulators and complies with local laws and regulations to ensure the transparency and legality of the platform. In order to better protect the security of user assets, FameEX also has extremely strict user authentication processes, multi-factor authentication, cold wallet storage and advanced encryption technology to maximize the security of user funds.

Image source: Internet

If investors accidentally encounter such fraud, please report it to the regulatory authorities immediately and ask the authorities to track down the source of the fraud. If investors have not transferred their funds out, they can search the official platform (official Twitter, official website, official Telegram group) to find the official customer service and conduct manual verification to eliminate the risk of fraud.

Résumer

After verification and feedback from many users, in transactions on the FameEX platform, funds transfers are fast and customer service responds quickly and professionally. This legal and compliant exchange has encountered some inexplicable criticisms after becoming well-known, but under the legal and compliant requirements of local financial regulatory agencies, the FameEX cryptocurrency exchange has been operating transparently and legally.

Q: Is FameEX regulated by any regulatory agency?

A: Yes, FameEX is subject to financial supervision in multiple countries and regions and undergoes regular compliance reviews. For example, the FamEX platform operates in Singapore as a foundation and is directly supervised by the Monetary Authority of Singapore (MAS). In Australia, FameEX is legally registered as an international financial company and is supervised by the Australian Securities and Investments Commission (ASIC) and has an Australian virtual asset trading license.

Q: Does FameEX have a virtual asset trading license? Is it supervised by a regulatory agency?

Answer: The FameEX platform is regulated by the Australian Securities and Investments Commission (ASIC) and has a legal virtual asset trading license in Australia. In addition, FameEX also holds financial licenses from the United States, Singapore and other countries, and operates related businesses in compliance with regulations in 14 countries and regions.

Q: How to prevent phishing websites from using the name of FameEX to commit fraud?

A: Please look for the only official website address of FameEX platform: www.fameex.com. All investors can find the online customer service channel on the official website for free, 24/7, and check any official information with the official customer service in real time. Other websites are phishing websites, please do not visit! In addition, please download the official APP from the official website or Google Play Store, and be careful not to click on unknown links or directly receive unknown APP installation packages.

This article is sourced from the internet: Is FameEX a scam? How should investors identify the real and fake official website? In-depth discussion on its legitimacy

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