Gammaron Review – Another Crypto Exchange Scam Invades Investors’ Wallets
Global Xsolutions UAB, the parent company of Gammaron platform, has two offices – in Lithuania and Bulgaria. With an obvious affinity towards Canadian investors, this scam project hasn’t been active for too long. In the game for just a bit over three months, it has already managed to earn more than a few warnings. We’ll link them all in this Gammaron review, so you can read them separately.�
The financial authorities blacklisting this suspicious crypto services provider weren’t wrong to label them as scam. What Gammaron focuses on is persuading their customers to invest in crypto and then slaps appalling fees and� steals entire investments altogether. The absence of supervision and a proper regulation is what allows these miscreants to perform such unlawful deeds.�
Our review breaks down key points to watch out for if you ever come across this one, or any similar scam, for that matter. We warn you to also stay away from Coinexab, a company as sloppy at their fraudulent attempts.
|Is This Company Safe?
|No, this is just a crypto exchange scam
|Have Warnings from:
|BCSC, CSA, FCNB, ASC, NSSC
|Crypto currencies (Bitcoin, Ethereum)
|Free Demo Account:
|How to� Withdraw from This Company?
|Unregulated crypto exchanges are prone to scamming and preventing withdrawals. Contact us for help anytime you are experiencing these issues.
Is Gammaron Regulated?
Heavily regulated platforms do not get easily blacklisted. Unless they display a specific fraudulent action or behavior that would earn them a spot on a public warning list. Canadian regional authorities have recognized Gammaron as a potential threat to Canadian investors.�
All the jurisdictional regulators point out that Gammaron “has not been recognized as an exchange or registered as a dealer”. That simply means that this unregulated firm is attempting to sell their deceptive services and products to the retail traders nation-wide. Here’s all the Canadian financial authorities that have Gammaron on their blacklists:
Alright, it’s clear that the company wasn’t licensed in Canada. In hope we’d find anything else from other financial authorities, we’ve also searched the databases of FCA, ASIC, CySEC, BaFin, CONSOB and FINMA. None of these tier 1 entities recognize the website name or their owning company. Also Lithuanian and Bulgarian regulators (LB and FSC) have not licensed this agency to conduct crypto exchanging in any way, shape or form.
The warnings from the reputable licensing institutions should be enough to convince you to stay away from such websites, no matter how attractive they may seem. If you’re still in doubt, we’d just like to point out that the firms that miss a Tier 1 license do not have the appropriately solved regulatory framework.�
Without the legal directive that outlines their conduct and business ethics, Gammaron and other unlicensed companies like KoinDeFi can misuse and manipulate your investments however they find fit. All that while not being subject to legal prosecution. Do you really want to invest with an anonymous website with loose security measures that takes no accountability for the abuse of access and data?
Countries of Service
Gammaron is a newly registered domain. It has been operational for about four months. That is nothing compared to the long tradition of exceptional services and flawless functionality of the regulated companies. Immediately after stepping onto the crypto scene, Gammaron has started displaying fraudulent behavior by trying to sell their questionable services without authorization or permits. Soon after such behavior was detected, some authorities have blacklisted them. Still, victims keep appearing. So far, the most of the robbed customers are from:
- United Kingdom
With the conditions that Gammaron offers, we’re unsure how exactly they lure their targets. With such terribly overpriced yet quite limited services, we can’t find a single benefit to investing with Gammaron. We’ll elaborate on the exact fees and costs soon, but let us just let you know that investing here is benefiting only the scammer.�
We can assume that during the process of persuasion, scam agents use completely different statistics and exchange parameters to make their offer sound more attractive. It could be that the investors are faced with the ugly truth about unfavorable exchange conditions after they spend their life savings and entire pension funds. If you too find yourself in such a position, reach out to us for help restoring your capital.
Traders’ Opinion Of Gammaron.com
When we started assembling this Gammaron review, there were only a couple of ratings left at TrustPilot. This doesn’t speak too great of the platform’s popularity. Neither are the reviews anyhow flattering for the company. All are negative and each of them suggest a certain type of issue traders were having with this platform:
I made a withdrawal request for 3600$ and showed complete status, but after I made 55000$ Withdrawal request that 3600$ Request changed to pending status, than I ask to customer support they said some time it’s Take 3 days. I never get that 3600$ till date (I have trade history .html and .csv files contain this detail) and the remaining profit. […] That’s not the kind of broker you’d refer to friends.
I don’t believe this is a real website. They have taken money but not done what was promised.
Trading Fees and Commissions
Exchange fees that Gammaron charges are not low, not average or higher than industry standard. They’re absolutely astronomical. No one in their right mind would accept exchange fees towering 7.2%. Gammaron currency rates are also abysmal and completely unacceptable. The current price of 1 BTC is about 24,600EUR. That price at Gammaron is more than 26,400 EUR! So that means this platform shamelessly pockets two thousand dollars, just from the selling price of a crypto coin. Such crazy pricing is only fitting to a none other than a sham, that’s desperate to steal whatever they can from their customers.
Are There Any Bonuses Available?
The shallow and uninformative Gammaron website doesn’t make a mention of any kind of bonuses. Despite remaining unrevealed, these can be offered to you by the swindler at any point. Usually, fraudsters come up with such offers when you join their platform. Although attractive sounding and seemingly helpful, bonuses are inevitably always followed by malicious clauses. These are later used as excuses to prevent your withdrawals.
Gammaron Trading Features – Platform and Account�
Even after we managed to go through the initial part of account making, the process wasn’t completed. Gammaron, being an anonymous service provider, has the audacity to ask for too much personal info. Such obstacles have prevented us from previewing the platform. If there is one to begin with.
Gammaron practically has no proper trading platform. What they call a trading platform are two separate terminals for buying BTC and ETH. The terminals themselves do not inspire a feeling of security or safe transaction options. To find out more about the payment processing, we had to open an account first. However, we weren’t able to verify it. Keep reading to find out what this anonymous fraud requires you to reveal about yourself.
You may only become eligible for the opening of the single account type by verifying your identity first. This is more than just an ironic request. Especially coming from a totally incognito, fraudulent financial services provider. What Gammaron requires of you is to submit the photo of your ID, passport, utility bill, driving license, credit cards,� and whatnot! All that while revealing so little about the account features that you basically do not know what awaits you further down the line.�
Because we couldn’t get past the verification point, we didn’t get to find out what options the account exactly includes. Nor what the deposit requirements are. After verifying the identity, the customers also have to fill-in a questionnaire, which is yet another nonsensical bit Gammaron came up with to seem like a credible and serious firm.
Available Trading Assets
From the looks of it, Gammaron’s offer of tradable instruments is very poor and jokingly limited. As a crypto exchange platform, you’d expect them to provide a wide range of digital currencies. Reputable exchanges have up to a thousand of such financial products available for investing in. Whether it’s buying and selling or the exchanging, Gammaron’s pool of tradable assets only includes BTC and ETH. It’s a question if even that works, because the fraudulent service providers do not have the means to make your trading or exchange activities productive.
It is only expected of Gammaron to just support crypto transactions. As a means of account funding, these transfers are utterly unsafe and remain anonymous. Crypto scammers always prefer them and will enforce them whenever there’s a chance for it. Almost irreversible and utterly hard to backtrack, these kinds of payments are basically definite. Cyber thieves will always prefer them over other types of transactions because they can steal huge amounts of money in a matter of minutes and get away with their crime unpunished.�
When it comes to withdrawing funds, you can request one payout after another and it will all be in vain. Financial swindlers earn by pocketing your deposits. So why would they then allow you to take them back? While masking their crime and prolonging your suffering, they will even come up with additional conditions, like fees, taxes and trading volume requirements.
There’s a total of three available channels for getting in touch with the Gammaron support:
- Email at [email protected]
- Phone number: +359886042515
- And the fill-in form for describing your problem and sending a contact info where you want to receive the reply
Although this may seem reassuring and like the firm is at your disposal, we wouldn’t count on it. Scammy platforms like to come off as helpful and reliable. In reality they ignore your calls as soon as you want to discuss a withdrawal.�
Conclusion On Gammaron.com�
Our research has equipped us with enough facts to understand how Gammaron fraud works. Clients are invited to buy crypto to exchange it and then, right after the investments are made, scammers need to ditch customers because the whole service was just bait. You’ve never actually bought anything, and your funds have all ended up in the thief’s wallet.�
Such occurrences are all too common when doing business with anonymous crypto services. So do not think you’re the only investor that has suffered such fate. There’s more people just like you and more than you’ll ever be aware of. That’s why we exist. With your help in the form of information and experiences, we can gather enough intel to warn the authorities about any sham like Gammaron.�
Also, if you’re in need of legal aid in order to restore your funds, we’re here for you. First consultation is always free, so do not be shy and contact us today.�
What Is Gammaron?
Gammaron is a scam crypto exchange that has been defrauding clients back and forth for over three months now. The domain is completely unregulated and therefore, you should contact us for help retrieving your funds.
Is Gammaron Available in the United States or the UK?
Unfortunately yes, and the biggest number of victims actually come from these two countries precisely.
Are My Funds Safe With Gammaron?
Unregulated financial service providers are not safe because they do not follow any legal framework and they do not invest into making their platforms safe!