On February 26, 2023 we came across a complaint filed with the BBB (Better Business Bureau) by a New York, NY, USA person who claims being scammed by a cryptocurrency investment scam in the form of a digital asset derivatives trading platform called Loboex.
The complainer has $600,000 in their invested account with the Loboex platform, but their account was temporarily suspended after they tried to withdraw funds. They offered their bank account and ID for review, but after 30 hours, their account was still frozen. Customer service then told them they were suspected of money laundering and needed to pay a 30% deposit of over $180,000 within 7 days to unfreeze their account.
They write:
I have $600,000 in my investment account with the Loboex platform. After initiating the withdrawal process, I was unable to log in to the platform. I contacted the platform’s customer service and was informed that my account had been temporarily suspended for violating their rules. I provided my bank account and ID as requested by the platform to conduct a review.
The platform stated that the review would take 12-24 hours. However, after 30 hours, my account was still frozen. When I contacted customer service, I was informed that I was suspected of money laundering and needed to deposit 30% of over $180,000 to the platform within 7 days to have a chance to unfreeze my account. Otherwise, my account would be transferred to the relevant government department and permanently frozen.
I want to clarify that my investment funds come from my 401K and the bank deposits of my family and friends, and I have not laundered money. This can be verified through my checking account. I am being asked to pay $180,000 as a deposit within 7 days to investigate the problem, and I believe I have been deceived.
So what is Loboex and is it a SCAM?
Loboex Review
Opening loboex.com, we see a website in Chinese and we use Google Chrome auto translator to be able to read it.
The website Loboex.com offers a platform for financial derivatives trading, including contract and documentary transactions for various cryptocurrencies. They provide a safe and efficient trading experience and offer a mobile app for download.
The domain loboex.com was registered on August 4, 2022 for one year through Name.com.
The website is ranked 13,371,313 globally and 3,773,112 in the United States. According SimilarWeb, on February 2023, loboex.com received less than 5K visitors.
They have only 3 backlinks from 2 referring domains, which don’t even seem to work properly.
Other than their homepage, most of the other pages of the site are hosted on another domain: loboex1.site. In fact, loboex1.site seems to be a loboex.com clone.
Loboex1.site was registered on December 26, 2022 for one year through Name.com. It is hosted by Quantil Networks Inc.
They also have a wwwh5.loboex2.online domain they link to as well as static.loboex1.site. On these domains they have their apps, which can be downloaded but not installed directly from the Google Play Store or App Store. Needless to say, never download any apps from companies you do not 100% trust.
Loboex2.online was registered on January 9, 2023 for one year, also on Name.com.
Based on their About page, Loboex is a digital asset derivatives trading platform established in Singapore in 2019, with offices in the US and UK. Its core team includes experienced Bitcoin miners and Ethereum developers, committed to providing a safe and efficient blockchain trading environment. Their development team includes senior blockchain developers and technicians from IBM, Microsoft, Google, and Ethereum, ensuring the security of users’ assets.
Who is Behind Loboex? Contact Information
Outside of a live chat widget, we could find absolutely no way to contact them or any information about them, such as where they are located, who are the people who run the company, etc.
Loboex Reviews
Their Facebook page is called Loboex Global and its intro is: “Founded in Singapore in 2018, taucoin is a leading cryptocurrency exchange in the field of blockchai”. It has 8.9K likes (most likely fake).
They also have a YouTube channel with 3 subscribers and one video from 6 months ago. (The channel was opened on August 22, 2022).
WikiFX gives them 1.04/10 and calls them a “Danger.” They also provide an additional domain name: loboex-protrade.com.
And on globalantiscam.org we find additional loboex domain names.
Regarding loboex-protrade.com, we find two reviews on WikiFX:
The first comment expresses disappointment with Loboex’s website, finding it lacking crucial information and unreliable. The commenter is uncertain about trading with Loboex and notes that it is risky to invest there because it has been established for less than a year. The second comment is a negative review of the Loboex app, citing issues with the new update and problems with Ripple trading. The commenter describes the withdrawal process as difficult and disgusting and claims that they were unable to get their money back.
We also find another Facebook page: LoboexCN. Here the associated domain name is: loboex.life.
So here’s a list of associated domains we haven’t look into yet, next to their registration date.
- loboexprodefi.com (December 20, 2022)
- loboex-promaxdefi.com (January 1, 2023)
- loboexpromax-defi.com (January 1, 2023)
- loboexpromaxdefi.com (January 1, 2023)
- loboex-maxdefi.com (January 1, 2023)
- loboexmax-defi.com (January 1, 2023)
- loboex.life (November 2, 2022) – seems to be defunct
- loboex-protrade.com (December 19, 2022)
All of them were registered through Name.com for one year. And they are all clones of each other.
They don’t look exactly like loboex.com, but they use the same logo, indicating the same people are behind them all.
On the Customer Service page they have an image that says: “Listen to Your VOICE – Solve your problem whole heartly.” No contact information is provided.
Bottom Line
We describe a complaint filed with the Better Business Bureau (BBB) by a person who invested $600,000 in a digital asset derivatives trading platform called Loboex. The complainant’s account was temporarily suspended, and they were asked to pay a 30% deposit of over $180,000 within 7 days to unfreeze their account after being accused of money laundering.
We discover that the website is in Chinese and not properly ranked or secured, has only 3 backlinks from 2 referring domains, and almost no reviews, except for negative ones that consider it a danger.
No contact information is provided on the website, and the few social media accounts they have are either fake or outdated.
The bottom line is that the Loboex trading platform is most likely a scam, and potential investors should avoid it.
If you have any experience with them, share your experience by leaving a comment below this review.
If you lost money online to online scams, such as the loboex scam, make sure to get a free consultation with one of our recommended scam recovery companies.
auroracinances.com should be reviewed also. They are definitely a scam also. They were auroracfinance.com and then changed to auroracfinances.com. I only lost $2000.00 to them but many others have been scammed out of a lot more . Sound and look very professional but you will never get your money back . The devil has his claws in these fellows .
Thanks for your comment! Sorry to hear that you have been scammed by them. Here’s our AuroraCFinances.com Review.