SIGEN Review – Don’t Sink Your Money Into This Bogus Exchange
SIGEN Review – Don’t Sink Your Money Into This Bogus Exchange

Minimum fees, high speed, automatic withdrawals and absolute security is what this shady firm markets as their forte. Clients are convinced they’re equipped with the most powerful tools for profitable crypto trading against any FIAT currency in the world and under the highest security measures.

All these claims we found do little to convince us when we know we’re dealing with an unregulated market dealer. More on this and other issues with this conduct are presented in our SIGEN review.

Regulated by: Unregulated Crypto Exchange
Is This Company Safe? No, this firm is not sharing their true legal info and is not licensed to be trusted!
Known Websites:
Have Warnings from: N/A
Registered in: UK (alleged)
Operating since: 18.10.2017.
Trading Platforms: Web trader
Maximum Leverage: N/A
Minimum Deposit: No minimum requirement for BTC
Deposit Bonus: Not available
Trading Assets: Crypto 
Free Demo Account: Not available
How to  Withdraw from This Company? If you’re struggling to make a withdrawal, please contact our legal service for chargeback support.

Illegal Crypto Exchange

The parent company of the SIGEN exchange is established in Dundee, Scotland under the name LERGEN STYLE LP. While the company is indeed present in the Companies House, the address does not match the one found on the website.

Cryptocurrency markets are subject to heavy regulation, with the UK being one of the strictest jurisdictions out there. Since this firm is a UK entity dealing in cryptos, they would need to be properly licensed by the FCA, which unfortunately is not the case.

The general opacity of the website prevents any further investigation, as there is very little information to go on. Checking the databases of other regulators, namely AUSTRAC, FINMA, NFA, FINTRAC and CySEC yielded no results whatsoever.

After examining all this, we came to the conclusion that we’re dealing with a dangerous crypto scam, similar in nature to UCoinCapital.

Website Information Hidden

You know that something fishy is going on with a website when all of the WhoIs domain data is redacted for privacy. Other than the registration date being 18.10.2017, there’s very little to go around.

Our separate analysis tool determined that the site is most visited in these nations:

  • Brazil
  • Argentina
  • Germany
  • Colombia
  • Ecuador

The fraudsters have a large presence on social media including company owned accounts on Facebook, Instagram, X, LinkedIn and Medium. You may also see them on YouTube and Telegram channels, as well as various affiliates on VK and Vimeo.

It’s difficult to believe that an exchange that does not disclose their trading volume information to be working in good faith. If you’ve invested funds with this platform, seek help from our expert team via the live chat.

Users Mention Con Strategies

There’s not a large number of SIGEN crypto trading testimonials to be found on TrustPilot, with only around 5 so far. Although these could not be considered to either prove or disprove the good faith of the company, there’s something else.

The people who are critical of the firm complain about known fraudulent strategies, like the fraudsters asking for additional up-front deposits in order to allegedly release the funds at a later time.

Unclear Fee Structure

The fees given on the website are just an attempt at leaving an impression of a well-organized, transparent company. That doesn’t correlate with reality, the state the platform is in and the overall poorly coded website. 

At first it may seem that the portal is posting all the costs and fees occurring, but if you look into the data a bit deeper you see that not much is revealed at all. 

Some currencies don’t have a minimum deposit requirement, like BTC but there’s a minimum withdrawal amount of 0.0018 and commission of 0.00085. The P2P Marketplace fee table only reveals the minimum transaction amount of 0.00057 BTC. Lastly, the exchange fee on all coins is 0% and the minimum transaction amount depends on the currency pair.

Not The Reaching Trading Environment

Although it may seem at first that the company has a lot to offer, and they certainly market their services as rich and supreme, the truth may be a bit further than that. You’ll make sure of that as soon as you sign up and access the trading panel. Nothing we found on there puts this firm above any other fraudulent portal.

TradingView Charts 

The software built on the imported TradingView widgets is quite simple and it doesn’t allow complex analysis or in-depth data scanning. Some of the elementary customization options are there, but that is all of the advanced functionality you’ll ever get. 

Since there’s no testing allowed without first depositing real cash, we decided to opt out of that. We wouldn’t recommend you to risk your hard-earned money on an unlicensed product either. Mobile App

The firm has apparently gone through the process of developing their own mobile trading and exchange application. From the links given on the website, it is available for downloading from Google Play and AppStore. The Android version already has more than 100k downloads but we all know this data can easily be subject to interference.

Tradable Crypto Pairs

This is not a multilingual crypto exchange station where you can expect to get access to hundreds of digital currencies and thousands of pairs. The narrow choice of pairs to trade on makes for a total of 8 pairs and here’s which ones: BNB/USDT, BTC/USDT, ETH/USDT, GLZ/BTC, GLZ/USDT, LTC/USDT, UGIN/BTC and UGIN/USDT.

No Difference Between Accounts

Signing up with this trading portal goes relatively quickly, after you provide an email address and a password. However, you are urged to update your profile data and deposit funds after you get into the client zone. 

Depending on the currency chosen, deposit requirements may vary and we’ve covered that in the fees section. However, besides that, it is not revealed what owning an account unlocks and what potential benefits are. None if you ask us. 

Shady Payment Options

The financial channels are not transparent, and the clients are expected to enter their external wallet address, and hope for the best.

Unfortunately, it has come to light that the vast majority of payout attempts get denied, with the charlatans asking for more money up front for various reasons. If you are one of the people who were defrauded by this exchange, contact our legal experts.

Support Ticket For Communicating

The mysterious SIGEN support office doesn’t share their email, phone or any other way to get in touch with it. There’s no other way to communicate with this service except by sending a ticket. That doesn’t provide much guarantee that your appeal will ever get answered, but that’s probably what the swindlers are aiming for.

Stolen Cryptos? Contact Us For Help!

The exchange is a dangerous fraudulent entity that allegedly operates out of the UK. Any trading on the platform is completely fictitious, as is the case with AllPaySoft.

If you have money invested with this scheme, contact our professionals as soon as possible. We are available 24/7, and you may use the live chat to book a free consultation at your convenience.

FAQ Section

What is SIGEN?

It is an online cryptocurrency trading fraud, invented to steal your assets.

Is SIGEN a Regulated Crypto Exchange?

No, neither SIGEN nor their parent company are licensed or regulated in any jurisdiction.

Can I Track and Trace Lost Cryptocurrencies?

It is possible to trace cryptocurrency transactions. Get in touch with our professionals for more information.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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