FinexBox Review – Would-be Exchange Turns Into A Box Of Nasty Surprises

It’s no secret that the crypto markets have become one of the most lucrative investment options today. Many faux companies are trying to squeeze in on it, with their own cash grab schemes and unfortunately, FinexBox exchange is one of them.

The company is plagued by substantial problems such as offshore registration, multiple bogus parent firms, and unverifiable claims about legality. All of this and more will be revealed in our FinexBox review.

Exchange status:	Unauthorized Offshore Exchange
Regulated by:	Unregulated
Operating Status:	Active crypto scam
Known Websites:	finexbox.com
Blacklisted as a Scam by:	N/A
Owner:	GENESIS BLOCKCHAIN GLOBAL LTD (alleged)
Headquarters Country:	Seychelles
Foundation Year:	2018
Online Trading Platforms:	XeniosCoin
Mobile Trading:	No
Minimum Deposit:	N/A
Deposit Bonus:	N/A
CFD Trading Option:	N/A
Crypto Asset Trading:	Yes – BTC, ETH, XRP, DOGE, LINK
Available Trading Instruments:	Cryptocurrency pairs
Maximum Leverage:	N/A
Islamic Account:	No
Free Demo Account:	No
Accepts US clients:	US clients are accepted
Global Fraud Protection Experts’ Verdict:	Contact our legal team for help with asset recovery.

Unlicensed Offshore Company

The legal conundrum with this firm starts with their offshore registration in Seychelles. While the firm is indeed legally incorporated, FSA themselves warn customers that they do not provide any regulatory oversight of VS and VASP entities.

Offshore nations with loose legal constraints have become safe havens for various online fraudsters. In an attempt to seem reputable, this scheme makes allegations of additional UK, Hong Kong and Chinese registration.

Inquiring with the UK Companies House, we’ve found out that the mentioned parent company, GENESIS BLOCKCHAIN GLOBAL LTD was dissolved in October 2021. The FCA, however, notes that no such firm was ever regulated by them. The situation is pretty much the same with the Hong Kong SFC register.

The Chinese Ministry Of Commerce website does not provide insight into their business entities, unfortunately. Conducting a third party search revealed that the company number mentioned on the FinexBox.com site is one Guangzhou Nuoqian Tea Co., Ltd. which has nothing to do with cryptocurrencies.

This is a common strategy employed by other fraudsters like CoinField as well. Dealing with these sorts of miscreants can lead to complete asset loss.

Fakery And Deception

Like many other con artists, including Lifecoin FEX, this self-proclaimed exchange boosts their online reputation by employing review seller networks.

We can see that happening on the TrustPilot review platform, with the firm trying to stem the tide of negative comments by posting fake FinexBox reviews. The story on SiteJabber is much simpler – there is but a single review made by a disgruntled client.

Knowing this, the idea that the exchange pumps up the value of their daily trading volume on CoinMarketCap and CoinGecko is not a far stretch, considering that these platforms rely on self-reported statistics.

Abusing The Internet

Influencing people through social media is something millions of small-time celebrities do every day. These charlatans advertise on Facebook, Instagram, X, Tumblr, Weibo and Blogspot. There is also a FinexBox Reddit discussion, although it did not get much traction.

With this much internet coverage, the company’s boiler room agents on Telegram are able to attract a large number of victims. Their offers of passive income and get-rich-quick schemes are difficult to resist, especially when combined with persuasion, threats and old-fashioned extortion.

Lying About Their Age

Focusing on the details about the domain, we can see that the site itself was launched in October 2018. This is quite a bit later than the alleged 2013 launch date.

The majority of victims live in these nations:

• United States
• India
• Turkiye
• Indonesia
• Brazil

If you’ve been misled by these scammers, feel free to get in touch with our expert team for help with fund recovery.

Vaporware Trading App

The FinexBox app for desktop users is called XeniosCoin, and it’s a complete mess. The interface is done in a fashion that makes it difficult to track what’s going on, and there don’t seem to be any common tools like stop loss or limit order, for instance.

The TradingView chart integration is false advertising as well, since the graphs are completely glitched out. You can’t even zoom or scroll the candlesticks, and pointing towards any part of the graph gives you a crosshair, but none of the relevant information.

There seems to be some kind of a FinexBox API provided, but besides the technical documentation on GitHub we couldn’t get to any actual download page.

Trading Asset Overview

Financial instruments, at least, are what you’d come to expect. The selection, however, pales in comparison with the majority of mainstream exchanges that offer tens of thousands of coins and tokens.

Coin pairs are supported with some examples being BTC/USDT, ETH/USDT, MANA/BTC, HNC/BTC and DOGE/BTC. The company has launched their proprietary FNB token, of which there is no information with other sources.

Opaque Trading Account

A singular trading account type is provided for all clients. Registration is quick and simple, and in some aspects it is the only decently functional part of the platform.

There are no account parameters to be found anywhere on the site, however, not even in the client area. With no demo to speak of, you won’t know what you’re getting yourself into before you make a FinexBox login account.

Incredibly Pricey Affair

There’s very little information on the site when it comes to FinexBox fees. A dedicated page called “Our fees” states that the Maker and Taker fees are charged 0.1%.

While this percentage seems small, it is still 10 times higher than what most other exchanges charge. Then there’s the withdrawal fee of 0.002 BTC (around $88) which is a total ripoff.

Affiliate Campaign

Users may invite their friends to the platform by using a dedicated part of the client area. This part of the site is in broken English, however, and states one of the rules for participating in the campaign as “A friend existence”. Funny as this may seem, remember that you’re dealing with bona fide criminals here.

Withdrawals Not Allowed

The only place you’ll see anything about the withdrawal policy is the “Remove the rumor declaration” page on the site, since the Terms and Conditions simply don’t exist.

Here, the swindlers say “all our normal withdraw is success” and “please send email to us, we will solve the issue” because “it is hard to run an exchange”.

There seems to be no automatic payment processing on the site, and the clients need to go through FinexBox support to place a payout request. If you’re getting stonewalled by these people, consider contacting our legal team.

Got Ripped Off? We Can Help!

There’s no end to these greedy illegal exchanges, as it seems. This company may be based in Seychelles, but is not subject to any regulatory oversight, which is something the con artists are happy to exploit.

If you’ve already invested with this dangerous offshore entity, feel free to contact our experts. With their help, you can still manage to recover your stolen crypto coins. We are available 24/7 for your convenience.