JBCoin-EX Review: Is Jubi a Scam?

Welcome to our JBCoin EX (Jubi) review, in which we investigate the website at jbcoin-ex.com.

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JBCoin-ex.com Review

Jubi appears to be a cryptocurrency trading platform. It offers a user interface with cryptocurrency pairings and their respective values. For example, XAU/USD, AUD/USD, BTC/USDT, and ETH/USDT are listed with real-time value updates. It features a slogan, “See new colors of life,” and an encouraging message, “Success lies in persistence.” The interface also offers options for buying crypto, depositing, withdrawing, and accessing online services, suggesting a full-service trading platform.

Another page from their website was designed to appear as if it’s from the App Store, presenting an application named Jubi with a very high user rating of 4.9 out of 5. The app’s version is listed as v3.1.4, and it requires iOS 9.0 or later, indicating compatibility with Apple devices. The language supported by the app is English, and its size is relatively small, at 2.45MB.

Red Flags

For a critical summary, it’s important to evaluate the website’s content critically, especially since it involves financial transactions and investments. The high user ratings and professional appearance of the app could be seen as positive signs. However, high ratings can sometimes be artificially inflated. Therefore, it is crucial to consider other factors and look for red flags that might indicate a scam.

There are no explicit mentions of contact details such as addresses, emails, phone numbers, or social media accounts, which could be considered a red flag. Additionally, there is no mention of any regulatory information, such as licensing by a financial authority, which is a critical oversight for a company that handles financial investments.

Furthermore, the mention of downloading the app outside of the official App Store and the presence of different download links for the same app could be potential red flags. Legitimate apps are usually downloaded directly from official platforms like the App Store or Google Play to ensure security and authenticity.

Given the concerns outlined, it is advisable to proceed with caution and conduct thorough due diligence before engaging with the platform or downloading the app. If you suspect fraudulent activity or a scam, consider reporting it to the appropriate financial regulatory authorities for further investigation.

JBCoin EX Reviews

The website jbcoin-ex.com has garnered a significantly low trust score across various review and scam assessment platforms. Scamadviser.com gives the site a very low trust score of 1 out of 100, suggesting extreme caution due to several negative highlights. These include the owner’s identity being hidden with a paid service, low visitor numbers, a high-risk country hosting location, votes marking the site as a potential fraud, and several negative reviews. Moreover, the site failed automatic checks that review websites for certain elements, further raising suspicion.

Scam-detector.com also rates the site poorly, with a trust index score of 1.6 out of 100, indicating that the site is young and unsafe and warrants warning. The low rating is influenced by the newness of the domain, registered less than two years ago, which raises questions about the legitimacy of its operations and services. The site is not detected by any blacklist engine, but its proximity to suspicious websites, high-threat profiles, and absence of an HTTPS connection is concerning.

Reviews.io reports an average rating of 1.5 stars from user reviews, suggesting general dissatisfaction among users. One particular review expressed regret over investing with jbcoin, mentioning repeated requests for more investments and the subsequent inability to reclaim funds or returns.

These red flags are indicative of potentially fraudulent activity:

• The concealment of the website owner’s identity.
• Hosting in a high-risk location known for fraud and corruption.
• Very low traffic, which contradicts claims of being a large or popular site.
• Negative user reviews and votes for potential fraud.
• A lack of an HTTPS connection is a basic security measure for legitimate websites.

These assessments strongly suggest that users should exercise caution when dealing with jbcoin-ex.com and thoroughly research and verify any claims before engaging with the site or considering investment opportunities.

Better Business Bureau (BBB) Reviews of Jubi

On September 7, 2023, the following complaint was filed with the BBB (Better Business Bureau) regarding a cryptocurrency scam at jbcoin-ex.com by a person who reported being scammed for $570K:

The scammer initially contacted me under the guise of a mistaken call, then suggested moving the conversation to Telegram. She introduced herself as Larissa Tan, claiming to live and work in Los Angeles as an investor in the mother and baby sector, although she mentioned she was originally from Singapore and had relocated to LA three years prior to escape a troubled marriage. She professed to be an expert in crypto trading and offered to teach me how to profit from it, starting with a free account for $50. I was instructed to sign up at https://jbcoin-ex.com, where she guided me through each step. I documented the process with screenshots. My profits seemingly increased as I continued to wire her money directly and through my bank account, upon her advice that wire transfers were more straightforward. Initially, I was able to withdraw small amounts, but soon after, I was informed that I needed to pay taxes to withdraw further funds. I was given 19 days to pay the required amount, or else I would incur a 5% daily charge. Additionally, she persuaded me to take out a loan, which I later discovered had to be repaid from a different account.

Subsequently, I found her image widespread across Facebook, under various professions and claiming different origins, including various parts of the US and Singapore. She managed to erase all our conversations on Telegram, but I had already saved the exchanges with this fake support team through screenshots.

On October 12, 2022, another complaint was filed with the BBB regarding jbcoin-ex.com, this time by a person who reported being scammed for $200K:

I am encountering issues with withdrawing funds from my Jubi account. Initially, after paying the required taxes upfront, I was instructed to pay validation fees. Subsequently, I was informed that I must pay a $33,000 fine for alleged insider trading—a situation contrary to Jubi’s assurances that no additional fees would be demanded, and the system would process my withdrawal automatically. This experience aligns with the multitude of complaints posted online by other Jubi investors, which suggests a deliberate scheme to defraud citizens of their earnings. I urge the relevant authorities to intervene and halt this fraudulent activity and the injustices imposed upon us. To date, my losses total $200,000, encompassing investments, taxes (though no disbursement occurred), and validation fees. Currently, my account has been frozen, and I am facing threats from Jubi to pay a $33,000 fine while my funds remain unreachable.

JBCoin-EX Review Conclusion

The in-depth analysis of JBCoin EX and the website jbcoin-ex.com paints a stark picture that warrants deep concern. Despite the seemingly legitimate facade presented by the website’s user interface and the app’s high ratings, a closer examination reveals multiple layers of deceit. The absence of transparent ownership details, hosting from a high-risk location, minimal website traffic, and a series of negative user experiences underline the possibility of deceptive practices.

The website’s failure to pass automated trustworthiness checks further compounds the suspicion, and the aggregation of user reviews corroborates the narrative of a platform that is potentially predatory in nature. The reported cases to the Better Business Bureau are particularly troubling, detailing not only the financial losses but also the manipulative tactics employed to extract additional funds under false pretenses, such as non-existent taxes and fictitious fines for insider trading.

The Bottom Line Regarding Jubi

This investigation concludes that jbcoin-ex.com exhibits numerous hallmarks of a scam operation. The pattern of behavior demonstrated by Jubi—requiring additional, unexpected payments to access funds, coupled with threats and the freezing of accounts—is characteristic of fraudulent schemes that prey on the hopes of individuals seeking financial growth through cryptocurrency investments.

For anyone considering engagement with jbcoin-ex.com, it is critical to heed these warnings. Uphold vigilance and skepticism towards platforms that require payments beyond the standard transaction fees, particularly if they are not backed by clear regulatory compliance or transparent ownership information. If you have been affected by this or a similar scam, know that there are resources and avenues to seek restitution and that you are not alone in this predicament. It is essential that such incidents are reported to the appropriate authorities to prevent further exploitation and to bring those responsible to justice.

If you have fallen victim to online scams, please comment below. If you have suffered a substantial financial loss, do not despair. We are here to assist you in recovering your funds!