LWEX Review – Shilling Faux Service Through Chat Rooms

King of cryptocurrencies, or whatever this pretentious scammer likes to refer to themselves, promises a faster, better, and stronger service than any other similar platform.

Advertising matters, but only when the firm meets other crucial criteria for transparent and certified service. Unfortunately, this fraud only has fake claims and arrogance to show. Read more about staying safe in these volatile markets in our LWEX review.

Broker status:	Unregulated Exchange
Regulated by:	No license
Operating Status:	Active crypto trading sham
Known Websites:	lwex.com
Blacklisted as a Scam by:	N/A
Owner:	N/A
Headquarters Country:	N/A
Foundation Year:	2024
Online Trading Platforms:	WebTrader
Mobile Trading:	Available
Minimum Deposit:	N/A
Deposit Bonus:	N/A
CFD Trading Option:	Yes, you can trade CFDs
Crypto Asset Trading:	Yes – BTC, ETH, LTC, ADA, DOT…
Available Trading Instruments:	Cryptocurrencies
Maximum Leverage:	N/A
Islamic Account:	No
Free Demo Account:	No
Accepts US clients:	US clients are accepted
Global Fraud Protection Experts’ Verdict:	Only trade with regulated firms and beware of trading scams!

Unscrupulous to the Bone

The LWEX exchange is as fake as it comes. Without revealing any useful information about their registration, the company we’re reviewing is an apparent fraud. Licensed service providers of this kind are obligated to be transparent about their business, especially when it comes to regulatory permits.

Unsurprisingly, this swindler only claims to be a FinCen registrant yet doesn’t appear in the MSB register. Even if they entered this database, they still wouldn’t be licensed enough to provide crypto trading services. The only license that would suffice would be a tier 1 certificate issued by FCA, ASIC, BaFin, CySEC, or a similar body.

Lastly, risking your funds on these shady platforms will not bring you profit. Not only will you not be able to enjoy the proper safety and security measures, but you’ll also lose your initial investment.

Not Much Info From the Community

Not much information is available when it comes to LWEX reviews or client feedback. There is an auto-generated TrustPilot page that contains a single negative review. The victim talks at length about the exact scam strategy employed against them.

Additionally, there is a cautionary Reddit board with another trader sharing their experience and asking for advice. Luckily for this person, they have not invested yet. If you have spent money on this scheme, however, contact our legal team as soon as possible.

Fraudulent Organization Exposed

One of the main tools in the charlatans’ arsenal, including this hoax and Lova Crypto, is peer pressure. This particular organization employs a boiler room strategy, albeit in a somewhat modified form.

Schemers operate numerous hoax profiles on Instagram, which act as promoters for the LWEX scam. These promoters contact the victims directly and invite them to join a chat room run by, allegedly, a profitable trading community.

The chat room itself is populated by other schemers who shill the idea of quick riches and pressure the mark into investing. Through various types of manipulation, con artists will drain any deposits only to insist on more funding.

Faking Company Age

Fraudsters like this one or ApexNexia want you to believe they’re a company with a long track record. This is why they buy out old domains, and lwex.com dates back to 2006.

This predates the invention of the first crypto – Bitcoin, but that’s only one piece of the puzzle. You see, the exchange itself did not exist before July 2024. Majority of the victims are from these countries:

• Hungary
• Lithuania
• Greece
• Slovakia
• United States

Access to Software is Blocked

Exploring the web trading solution on this site is not possible until you create a new account. However, access to the LWEX app is still impossible unless you own an invitation code. Without it, none of the features are available.

What’s more, website visitors that attempt to download the alleged prestigious mobile app won’t be able to do so, either. The problem is in the fact that App Store and Google Play links are inactive, so there’s only a QR code left to scan. This is something we definitely don’t recommend you to do for safety’s sake.

Asset List is Limited

Unless you use the LWEX download option via the QR code and acquire the shady mobile app, you won’t be able to access the full list of assets. Homepage doesn’t reveal much, except for the most popular pairs and biggest gainers in the 24-hour period.

According to these rudimentary widgets, we could see the following pairs advertised:

• BTC/USDT,
• BCH/USDT,
• ETH/USDT,
• LTC/USDT and
• ADA/USDT

Impossible to Sign Up

As we’ve previously discussed, it is practically impossible to access any of the tools and features without an invitation code. This is a condition usually applied by scammers so they have control over who has access to their portal. That’s why only a handful of selected victims are allowed to join and invest in their suspicious deal.

There’s also no clarification about minimum deposit requirements or if there are other account types to choose from. The simplicity of the offer and firm’s opaqueness about packages doesn’t instill trust at all.

Unclarified Fees

We’re most certain an abundance of fees applies to every single transaction or other action on this platform. However, the LWEX crypto scam reveals none of the applied charges and costs. Clients are purposely deceived to think the services are free. That’s how they’re led into financial entrapment easier.

Unfortunately, nothing is ever free. Whoever deposits funds on this site soon discovers their entire investment is gone, without a chance to take it back without professional support and legal advice.

Withdrawal is Not an Option

Taking back your funds from this unscrupulous portal is not going to work if you simply send a payout request. That would be a normal process if you were doing business with a regulated financial services provider.

Alas, in this case, you will not be allowed to get your initial investment back or pull out any of the profit you think you’ve made. This kind of financial sham purposely supports only crypto transactions. That facilitates the scam and helps cyber criminals remain anonymous.

Got Scammed? Here’s What You Can Do!

This self-proclaimed exchange is a fraudulent organization in disguise. The company, if you can call it that, does not have any license to provide their alleged services.

You run the risk of losing more than your investment when dealing with unregulated companies! If you have invested any funds with this scam circle, contact our legal experts. With our help, you can start a fund reimbursement procedure.