Xanbytrade.com has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Tradebitz.pro. We’ve received over 3 complaints against Xanbytrade.com.
Xanbytrade.com masquerades as a secure platform for trading cryptocurrencies, but multiple cybersecurity investigations have uncovered that it is in fact an elaborate fraud. By simulating a trading environment on this website, the perpetrators exploit users by distributing deceptive advertisements that appear authentic via the extensive reach of social media. In the absence of regulatory supervision, the platform facilitates a high-risk, illicit operation that is prone to vanishing without a trace. To avoid such schemes, always verify the regulatory and licensing status of a company. Due to its unverified claims and initial bitcoin deposit requirement, Xanbytrade.com is the archetypal example of a fraudulent website that exploits the unsuspecting.
Get Your Money Back From These Scammers!
Key Takeaways
Is Xanbytrade.com Regulated? Do They Have a License?
The website Xanbytrade.com advertises itself as a safe place to trade cryptocurrencies. But thorough studies by a number of cybersecurity groups have shown that it is a complete lie.
The trade results and how the platform works are designed to trick users by making it look like there is a trading environment when there isn’t one. This method is part of a larger trend of digital asset scams that are getting smarter and take advantage of people’s excitement about the crypto sector.
The platform cleverly uses the huge spread and power of social media to find people to scam. Xanbytrade.com gets people to fall for its scam by making advertising content that looks good but is completely false. With its high engagement rates, social media gives these kinds of scams a veneer of legitimacy that makes people think the trading site is real.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Xanbytrade.com is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Xanbytrade.com, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Concerning Issues Present at Xanbytrade.com
Aside from the clearly questionable premise that famous people are giving away bitcoin through YouTube promo codes, there are a number of clear signs that Xanbytrade is a scam. To begin, the business doesn’t have a major online presence or paperwork beyond its promotional videos.
There are no real details about Xanbytrade anywhere. Also, there is no proof that the site has ever given out any of the free bitcoin prizes that were promised. The famous people in these ads haven’t agreed with the plan, and their pictures have been used without their permission.
Another big red flag is that you have to make an initial bitcoin deposit to activate your account. This is something that no regulated trading site would ever do. Besides that, the Xanbytrade domain was just created and will probably be deleted soon, which is not how businesses should work. The lack of transparency is further shown by the fact that there is no real contact information provided—only a generic message form.
Lastly, the offers of free bitcoin are way too good to be true; scams often make offers that are too good to be true. Because of these many red flags, people on social media should stay away from the fake celebrity-endorsed Xanbytrade bitcoin offer.
A lot of scam awareness and cybersecurity websites have put Xanbytrade.com in the news and warned people about how it works. These warnings usually explain in detail how the site tricks its users and stress the very real financial risks involved. Such investigations are very important for teaching potential users about the dangers of using sites that look like they are real but are actually fake.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
Xanbytrade.com Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
Xanbytrade.com Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like Xanbytrade.com tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust Xanbytrade.com reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Xanbytrade.com, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Xanbytrade.com enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Xanbytrade.com reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Xanbytrade.com.
You should always look out for consumer complaints. In the case of Xanbytrade.com, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Xanbytrade.com? You can share your complaint in the comment section or submit an anonymous tip.
Is Xanbytrade.com Legit Or a Scam?
Xanbytrade.com has been linked to other scams, which makes things even more complicated. This link points to an organized network of scams that work together to take advantage of as many people as possible. The fact that Xanbytrade.com comes up a lot in conversations about different scams shows how important it is to a bigger pattern of fraud in the cryptocurrency community.
Xanbytrade.com is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Xanbytrade.com can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Xanbytrade.com?
Concerns about Xanbytrade.com are a stark warning of the risks that come with digital trading, especially in the cryptocurrency market, which is not regulated very well. People who want to trade in digital assets need to be careful and make sure they have accurate information before they put money into something.
All the evidence suggests that Xanbytrade.com is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
Is Xanbytrade.com a scam?
Can I withdraw money from Xanbytrade.com?
Where is Xanbytrade.com Located?
How do I get my money back from Xanbytrade.com?
How The Xanbytrade.com Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
