Sneedex Review – Greedy Yet Lazy Fraudsters Keep Copy Pasting Sites

Websites operated by nameless companies that claim to serve millions of customers worldwide may be catchy but not entirely convincing. That is obvious in the example described in our Sneedex review. What these fraudsters want is for you to blindly trust their allegations of regulation and transparency, while they provide zero evidence to support such claims.

We’ll give you solid proof of why you should not throw your money into this fire pit and how you can recover investments lost to these or similar cyber criminals.

Broker status:	Unregulated Crypto Exchange
Regulated by:	No license
Operating Status:	Active Crypto Trading Scam
Known Websites:	sneedex.com
Blacklisted as a Scam by:	N/A
Owner:	N/A
Headquarters Country:	Malta
Foundation Year:	November 2023
Online Trading Platforms:	Web
Mobile Trading:	No
Minimum Deposit:	N/A
Deposit Bonus:	Not available
CFD Trading Option:	N/A
Crypto Asset Trading:	Yes – BTC, ETH, LTC
Available Trading Instruments:	Crypto
Maximum Leverage:	N/A
Islamic Account:	No
Free Demo Account:	No
Accepts US clients:	US clients are accepted
Global Fraud Protection Experts’ Verdict:	Keep away from suspicious proposals and refer to us for help with recovery!

Who is Behind the Sneedex Scam

Putting together all of the information we’ve managed to collect about this sham only leads us to a conclusion that they’re a false crypto service provider. As obvious from the looks of the website, all and any legal information is completely omitted from the presentation.

The swindlers don’t leave a slightest trace or a hint for us to build a proper investigation on. That is, except the single statement in the legal papers that says how Malta has the exclusive jurisdiction over legal disputes.

But wouldn’t that mean that this crypto portal operates under the supervision of MFSA? Checking for clues in this database yielded no results. Even FCA, BaFin, CySEC and NFA have no intel on the anonymous business we’re discussing.

This conduct is entirely artificial and probably never registered to begin with. Speaking of similar unscrupulous plotters, you should also keep away from Teslabtx.com, which also preys on crypto enthusiasts with less experience than needed.

Fake Celebrity Giveaways

What makes these sites especially dangerous is their target demographic. All of them work exclusively through various social networks, and approach the younger population.

The company doesn’t have its own Sneedex TikTok profile though, and uses various intermediaries and small time influencers to attract new clients. Usually, they abuse the likeness of various celebrities generated through DeepFake software, who advertise free cryptocurrency airdrops.

To get these cryptos, one only needs to create an account with the exchange and invest some money. These initial investments get stolen by the dastardly website operators, and recovering it is a job for a professional.

Where Is The Fraud Most Active?

Each site targets a different region, to avoid overlapping interests. This particular one is most active in these nations:

• United States
• India
• United Kingdom
• Canada

While the majority sister sites were launched in October 2023, this new batch was put online in November of the same year. More information is available through WhoIs.

Same Horrible WebTrader

The Sneedex platform is available for preview to site visitors even without prior account registration. Sadly, there’s not much to behold. The rudimentary distribution is structured in a way that gives off a wrong impression of complexity and professionalism. In reality the most of the layout is taken up by chunks of data when the majority of it is completely unnecessary.

Why deal with these generic and unreliable bogus software when you can simply sign up for a properly regulated brand with their own technological solutions for safe and lucrative online trading?

Crypto Coins On Offer

Being focused solely on various crypto services, this trading portal allows users to exchange digital currencies, stake and conduct leveraged trading.

However, we cannot exactly confirm the availability of all of these options described, preliminary because account creation is disabled for the majority of email types. So far, some of the most traded crypto coins are the following: BTC, ETH, XRP, LTC, ETC, ADA, BNB, BCH, ZEC, NEO, LUNA, SOL and others.

Sneaky Registration Requirements

Usually, one would use an email to open an account with any online service. This one, however, doesn’t allow just any email provider to be registered. They actively avoid secure services like Gmail, Yahoo and Outlook, and cherry-pick less secure providers.

The swindlers are not content with just cleaning out your crypto wallet, they’re in for other personal information as well, such as employment data and credit card numbers and codes. We’ve noticed a similar behavior with Dybitox fraud as well.

Trading Fees And Terms Related

Starting fees in terms of Maker/Taker ones are set to 0.075% / 0.075%. But that is only for the Level 1 VIP clients who have a trading volume of less than 30 BTC. For every increase of your totally traded amount, you can raise your VIP level all the way up to the 7th Level and enjoy special benefits. The most advertised advantage of having traded more than 20,000 BTC is having fees reduced down to 0.035% / 0.045%.

Although the platform promises the possibility to trade leverage crypto products, any particularities related to this form of price speculation are unknown. The website doesn’t reveal what is the starting leverage or spreads. Neither is it clear if commissions follow.

Transaction Fees

Specific taxes and commissions are designed to be included in every transfer. Monetary transfers bear a fee that depends on each currency chosen. For example, all deposits in bitcoin include a 0.00005 BTC fee, while the withdrawals are charged with 0.00011 BTC.

Ponzi Scheme Bonuses

Getting new victims to sign up for their fraudulent platform is easy. Once the cons convince their existing customers that they can get rewards for recruiting their friends and family, the ponzi scheme unfolds. Young blood allegedly brings 40% of the amount of fees they pay and your trade commission will be 0.1%.

Suspicious Withdrawals Policy

The transactions to and from the sites are not automated, and the clients must phone the company directly whenever they wish to make a deposit or a withdrawal. To any seasoned trader, this might seem like a middle age tech, but the reason is far worse than just cheap software.

By making their clients contact them directly, the scammers have a larger psychological sway over them. This way, they can manipulate the marks into additional upfront payments, which is just one of the strategies. If you’re having difficulties getting money back from this company, contact our legal team.

Your Crypto Got Stolen? Help Is On The Way!

The Sneedex cryptocurrency fraud is just one of the many identical sites that have been launched lately. They all use faux crypto airdrops to lure their victims, and rely heavily on social networks, usually TikTok to solicit their services.

Don’t let the fraudsters get away with stealing your crypto! Get in touch with our expert team via the live chat below, and book a free consultation today. With our help, recovery is still possible!