- The credibility of the MFSPE crypto exchange has been questioned.
- The exchange does not appear in any other search results.
- Another cryptocurrency investor admitted to losing over $500,000 in CeFi yield products.
The credibility of the MFSPE Bitcoin and cryptocurrency trading platform has been called into doubt by a member on Reddit. According to his statement, he was contacted by a Facebook (Meta) figure who, in essence, urged him to invest in cryptocurrency via the MFSPE Exchange.
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The member on Reddit who goes by the pseudonym “Theoptimisticloser” claims that despite the fact that he is aware that the business as a whole is somewhat unregulated, the exchange does not appear in any search results other than its own website.
He says;
I know this industry is a bit unregulated, but upon some research, it seems like the exchange doesn’t yield any search results aside from its own website.
It is also worthwhile to note that the platform claims to service 2 million investors in more than 190 countries. It also has an app in the Google Play store that has a sizeable number of downloads.
Another user shares his experience in the comment section on how he was contacted by a Linkedin personality who had a company profile that seemed to be in good shape. The poster mentioned MFSPE.com, so he checked into it and discovered that there was no internet information about fraud on the website.
However, in his opinion, the reason for the failure was that the site was brand new. This user thus recommends that members of the general public do research on the websites and the individuals involved.
Investors have complained about organized financial fraud before. In a recent Cryptonewsland piece, a cryptocurrency investor admitted to losing over $500,000 in Centralized Finances yield products.
Thus, experts urge cryptocurrency investors to avoid fraud and research before investing.
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