Is Oxen Finance a fake crypto trading website? Oxenfinance, operating oxenfinance.org is a fake cryptocurrency trading website. Continue reading our Oxenfinance scam warning to understand why our team of fraud investigators has deemed that this website is operated by scammers.
First Hand Accounts
Cybertrace is contacted about new scams every single day. Being one of the leading fraud investigation companies means we receive a lot of reports. Recently, we’ve been advised of victims losing huge sums of money to the Oxen Finance scam. We’ve investigated this website and can validate that our clients have been scammed by Oxen Finance. Do not trust these scammers and stay away from this fake cryptocurrency trading website.
Our Assessment
As the world becomes more digitalised, the prevalence of online scams continues to rise. One of the latest scams to hit the internet is Oxenfinance, a purported investment company that claims to offer high returns on investment. However, Oxenfinance is a scam, and investors should stay away from these fraudsters. We’ll take a closer look at Oxenfinance and explain why it’s a scam.
First, let’s examine Oxenfinance’s website. A quick look at the website shows that it has all the hallmarks of a scam. For one, the website is well-designed, although multiple grammatical errors and spelling mistakes were identified. Additionally, the website provides a US phone number and address yet the listed company is from the UK.
Another red flag is the high return on investment that Oxenfinance promises. The website claims that investors can earn up to 15% daily returns on their investment, which is an unrealistic return for any legitimate investment company. Such high returns are often a sign of a Ponzi scheme, where early investors are paid off with funds from new investors. Eventually, the scam collapses, and investors lose their money. The scammers then run off into the sunset with your money.
Furthermore, a search on scamadviser.com shows that Oxenfinance has a low trust score of just 2%. Scamadviser.com uses algorithms to determine the trustworthiness of a website based on various factors such as domain age, website popularity, and user reviews. A low trust score indicates that the website is likely to be a scam.
The website states it is operated by Bitcoin Explore Limited with company number 11188393. Further investigation confirmed that this company was registered in the UK, however, it is now listed as Dissolved since 9 July 2019. However, another record on the website states that it’s operated by Oxenfinance LTD. Searches quickly reveal that this company has never been registered in any country.
Finally, a review of Oxenfinance on scam-detector.com reveals that the website has been reported for fraudulent activity. The website warns investors to stay away from Oxenfinance and not to invest any money in the platform.
Oxenfinance is a scam, and investors should avoid it. The website lacks real information about the company, promises unrealistic returns on investment, has a low trust score, and has been reported to us for fraudulent activity. Anyone who has invested money in Oxenfinance should contact us to determine how we can help you.
