CoinDres Review – Newest Addition To A Notorious Legion Of Scam Sites

This CoinDres review has a difficult task of thoroughly examining the conditions and elements of the offer presented by the “world’s most secure trading platform”. That is how these sleaze bags describe their allegedly fastest growing global cryptocurrency exchange. 

Naturally, all of these claims are just a bunch of mumbo-jumbo, that only serves the purpose of deflecting the victims’ attention from the important details. One of them is the ownership, which is questionable and shady at the very least. 

Many Faces Of One Scammer

CRYPTO ARBY TRADE LIMITED, the owning company of this and countless other scam websites, was dissolved at the end of 2022. For a while, it was indeed registered in the UK, but was never regulated by FCA. 

Nothing is known about this shady business, and there’s a ton of websites with the same purpose (cyber theft) that mention this firm as their parent company. 

Some of them are Bitrifax, luxcoinex, jubix.io, bitlyzo.com, coinzfx.com, kloredex.com, faxbix.com, netbtccoin.com, and Cefax. Some are still operational, while others have already been taken down. What they all had in common is their claim about being operated by the same firm. 

Because of this many attempts to defraud investors, the company has been blacklisted by CBR, and it’s just a matter of time before other reputable regulators react.  

Active In All Parts Of The World

We couldn’t find any CoinDres.com reviews on relevant ratings sites. This is due to the fact that it was launched only a couple of weeks before the writing of our CoinDres review, in November 2023.

The fraud is directed towards the following nations:

• Spain
• Costa Rica
• France
• United States
• Mexico

Many of these schemes get new clients through the combination of boiler room agents and customer referrals, with Olympus Brokers being one of the examples. This bogus firm is no different, and their agents are most active on social networks, where they pester people to invest through different groups and direct chat messages.

Your money gets stolen regardless of whether you join through client referrals or company agents. There is a way to recover your assets, however, so book a consultation with our experts at your convenience.

How Fees Are Structured

Leverage ratio for futures trading is set to 1:5. The starting Marker and Taker fees on this exchange portal are 0.3% with no cashback option. You can unlock much lower fees and even cashback opportunities. With a volume of over 2 million dollars, you can get your trading fees lowered down to 0.05% with 116%/83% cashback. 

Transaction fees are set to 1% on deposits and a varying tax on withdrawals. For Bitcoin payouts, the fee included is claimed to be 0.000045 BTC. For Ethereum, it’s 0.000638 ETH.

Affiliates And Bonuses

Clients are encouraged to get new victims to the scam through an affiliate program. While the perks and rewards of this program are not openly discussed, the site features a page dedicated just for this.

In addition, there are multiple bonuses available. Existing clients can input a promo code to receive these one-time benefits, the likes of which are not disclosed either.

Many Alleged Features

The CoinDres crypto exchange allegedly features a few different types of crypto trading. One is swapping different crypto coins, the other is P2P exchange between separate clients. Speculation, as well as staking features are seemingly provided instead, so let’s take a more detailed look into these.

Web Trader As The Main App

Main trading platform for speculation is a lackluster web trader, which we’ve seen too many times before. XTB Global is another fraudulent firm that uses this exact same piece of software, because it allows them to easily manipulate the price data.

P2P exchange, as well as swapping is done directly through the website and has no connection to the outside world at all.

Trying to filter out different order Makers and Takers requires an account that’s already been deposited to. The information is purposely hidden behind a paywall to urge indecisive clients into investing..

Tiny Asset Selection

The company brags about offering 40 different types of coins like it’s a huge number. Many mainstream crypto exchanges feature tens of thousands of different coins and tokens.

Of course, this is done to reduce the logistical requirements for maintaining a facade. If the firm were to offer a larger selection, it would take much more time and effort to manipulate the prices.

That said, the offer includes most popular coins like BTC, ETH, ADA, XRP, DOGE, TRON, BCH and some others.

Staking Plans

Low risk and stable earnings are the ways that these manipulators describe their staking plans. What is supposed to be a passively generated income and a guaranteed profit, however, is nothing more than another way to rob clients. 

You can figure that out by the unrealistic expectations, set by each of these plans that are divided by the time frame:

• 7 Days Duration Plan – 1.3% per day
• 14 Days Duration Plan – 1.6% per day
• 30 Days Duration Plan – 2.1% per day
• 90 Days Duration Plan – 2.6% per day

Minimum deposit amount depends on the currency chosen, in this concrete case, its 0.000894 BTC (~$34).

Discrete Transfers

The non-transparent and unfair withdrawal circumstances are the most concerning part of the entire offer. As there’s only digital currencies allowed as a funding method, you cannot expect to move your cash safely. The moment you invest anything in crypto, you can be sure that your entire investment is immediately gone. 

By the time you become aware of what happened, your funds will have changed several wallet addresses. Luckily, we’re here for you. If you’ve lost capital to crypto criminals online, we have the means to help you track your transaction.

Limited Customer Support

Customer support is only available through the client dashboard. In order to allegedly receive any assistance, users must first go through a chatbot, and select the kind of support they need before opening a ticket. Although the support is advertised as “replying within an hour”, we got no response whatsoever.

Robbed By An Online Scam? We Can Help!

The name of the parent company behind this ruse is a cause for alarm in itself. The CoinDres scam is just one of many similar fraudulent platforms that are out to get you, many of which have been placed on regulator blacklists. 

Any semblance of trading with this crypto platform is completely fictitious, and used as deception to keep the traders occupied. If you’ve invested money with this entity, consider booking a free consultation with our expert team. With their help, you can recover all your stolen money!

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