When you hear about the MaskEX scam, a fraudulent crypto exchange that vanished after collecting user deposits without allowing withdrawals. Also known as MaskEX fraud, it’s a textbook example of how fake platforms lure traders with fake promises of low fees and high returns—then disappear overnight. This wasn’t just a glitch or a technical failure. It was a deliberate theft disguised as a legitimate trading platform.
Similar scams like Negocie Coins, a Brazilian exchange that shut down in 2020 after taking users’ BRL deposits, and other fake DEXs like ZEUS (zeuspepesdog.vip), a meme coin project with no real team or liquidity, follow the same playbook: flashy websites, fake testimonials, and urgent calls to deposit now. They all target people who don’t know how to verify a platform’s legitimacy. The red flags? No public team, no audit reports, no real customer support, and withdrawal delays that turn into total silence.
What makes these scams dangerous is how they mimic real exchanges. MaskEX looked like a professional platform. It had a clean UI, supported popular coins, and even claimed to be on the BNB Chain. But behind the scenes, it had zero real liquidity. Once users deposited, their funds were drained into mixer contracts or moved across chains to hide the trail. The same thing happened with Merchant Moe, a zero-fee DEX on Mantle Network that’s legitimate but has such low liquidity it’s risky for beginners—except Merchant Moe didn’t steal money. It just wasn’t built for mass use. MaskEX was never meant to be used at all.
You don’t need to be an expert to avoid these traps. Check if the exchange has a public GitHub, real social media accounts with active engagement, and third-party audits. Look for user reviews on trusted forums—not just the exchange’s own website. If a platform pushes you to deposit fast with "limited time" offers, walk away. The crypto space is full of real opportunities, but scams like MaskEX thrive on haste and ignorance. Below, you’ll find real reviews of exchanges that actually deliver, scams that got exposed, and lessons from victims who learned the hard way. Don’t let your next trade turn into a loss you can’t recover.
MaskEX offers high leverage and privacy features but lacks verified regulation, transparency, and reliable withdrawals. With a 1/100 trust score and consistent user complaints, it's a high-risk platform best avoided.