In cryptocurrency platforms, scams are unfortunately common. A platform that has come under suspicion is Delorax.com. It appears to be a legitimate option for trading and investing in cryptocurrencies. However, our research indicates that it could be a scam to mislead investors.
In this post, we are going to review Delorax.com and tell you whether it is legitimate or another crypto scam.
What Is Delorax.com?
DELORAX is a cryptocurrency platform that provides services including buying, trading, and managing digital assets. It operates as a decentralized exchange (DEX) which allows users to trade cryptocurrencies directly without a central authority.
Also, DELORAX offers rewards through promo codes and an affiliate program, with up to 40% commission for affiliates. The site claims to be certified under several standards, including ISO 27001 and SOC 2 and promises high levels of security and compliance.
Website Profile
| Website | Delorax.com |
| Known as | Delorax |
| Service Offered | Cryptocurrency Trading |
| Domain Registration Date | 21 July 2024 |
| Email Address | Not Known |
| Contact Number | Not Known |
Delorax.com Withdrawl
Withdrawing your money from Delorax.com can be extremely difficult. The platform set up complex rules and high minimum withdrawal amounts so it is impossible for you to get your funds out.
Is Delorax.com Legit?
No, Delorax.com is not a legitimate platform. We have identified several Red Flags that you should be aware of to avoid falling for crypto scams.
1. False Promises of High Returns
Delorax.com attracts users with promises of large returns on investments. They pay out some users to build trust and make the platform seem legitimate. This tactic is common in investment scams to make the platform appear credible.
2. Ponzi or Pyramid Schemes
They operate on a Ponzi or pyramid scheme model, where money from new investors is used to pay earlier investors. This model is unsustainable and will ultimately collapse when new investments slow down.
3. No Contact Information
This website does not provide any contact information or social media accounts to communicate with users. This lack of transparency suggests that the company may not be sustainable and was created to defraud users’ money.
4. Referral Bonuses
To attract more users, They offer referral bonuses. This seems like a good deal, it’s a way to draw in more people and increase the flow of new money needed to keep the scam going.
5. Blocked Accounts:
Some users have reported that their accounts were suddenly blocked, which prevents them from accessing their money. This is a common trick used to appear legitimate while trapping investors’ funds.
Conclusion
Delorax.com presents several negative signs that suggest it is not a legitimate platform. Although it claims to offer secure cryptocurrency trading and high returns, our investigation shows problematic factors.
The site uses a Ponzi or pyramid scheme, where money from new users is used to pay earlier ones. Also, the absence of contact information and difficulties in withdrawing funds.
Jason Thomas is a Computer Science student specializing in AI & ML, dedicated to safeguarding individuals from online threats. Passionate about exposing internet scams, Jason spends his free time identifying and reviewing various fraudulent activities and unethical materials. With a unique blend of theoretical knowledge and practical application, he is a valuable contributor to the fight against online fraud. His commitment to technology and programming fuels his mission to protect people from scams and enhance internet safety for everyone.
