DCGmarket and LBT Exchange are both unsafe and illegal cryptocurrency trading platforms, beware!

Recently,Forex platform with the best reputation some investors asked whether the two cryptocurrency trading platforms, DCGmarket and LBT Exchange, are legitimate or scams.

According to the trading platform data on FTI APP, both trading platforms DCGmarket and LBT Exchange were just created this year and change their URLs frequently.

For investors, such newly created and unstable trading platforms are extremely unreliable, and may have fraud risks, trading risks, etc.

At the same time, both DCGmarket and LBT Exchange use false information to deceive investors, and they both claim to be regulated by the U.S. Financial Crimes Enforcement Network (FinCEN).

In fact, according to the FinCEN website, the inclusion of a business on the MSB Registrant Search Web page is not a recommendation, certification of legitimacy, or endorsement of the business by any government agency. What's more, LBT Exchange is not even found on the MSB registrant search page.

In addition, DCGmarket is a suspected cloneof Digital Currency Group (DCG), the company they claim to be backed by. However, a search of Digital Currency Group's publicly available information reveals that there does not appear to be a partnership between the company and DCGmarket, and DCGmarket does not even disclose specific company information.

As we all know, a compliant digital currency exchange will provide full disclosure of information, obtain the relevant regulatory qualifications of the client's location, as well as have a strong technical team, security measures and customer support to protect the safety of clients' funds, data security and trading experience.

Therefore, according to the information disclosed by DCGmarket and LBT Exchange so far, the background team, company information, customer support, security measures, and other information of these two platforms are almost anonymous, and even fraudulent, based on which we believe that these two cryptocurrency trading platforms are very unsafe.

We recommend that when choosing a digital currency trading platform, you try to choose an exchange with high visibility (top 10 globally) and good reputation with many user reviews to avoid potential fraud.

Reminder 1: The trading market is full of uncertainty, do not blindly pursue high returns. And always be cautious when you come across investment opportunities that promise high returns with little or no risk. These are likely to be scams.

Reminder 2: Don't trust individuals or organisations who claim to be able to get your money back - they may be selling hope and scamming you again. This is especially true if they ask you to pay in advance, which is a "recovery scam".

If you've been scammed, your best option is to gather evidence and report it to your local police and law enforcement as soon as possible.

In the meantime, you can also file a complaint on the FTI website or app, where staff will further expose the scam to alert others not to be scammed.

You can check the regulatory licenses, security scores, customer complaints and other information about global trading platforms at FTI to avoid any potential scams.

Click here to recognize common investment trading scams to avoid being scammed.

Click here to see how to check if a broker is safe and what to do if you encounter a scam broker.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!