VXL Dollar can be described as a brand new fraud coin. Other names for this brand new cryptocurrency scam include VXL Bank and VXLD.
They’ve been receiving reports of fraud on the internet. In this post, I’ve provided an extensive list of articles against VXL Dollar that will give you a better understanding of why to stay clear about investing with the company.
According to the reviewer above, VXL Dollar is a fraud. He lost 175 bitcoins with the company and is now preparing to bring a lawsuit against the company.
As per the report, the owners of VXLD are located in Marbella, Spain. They are, however, intent on attracting customers from Dubai, Monaco, and Ibiza. The reviewer points out that VXL Dollar isn’t the first scam run by these folks.
The first scam they ran was an offshore banking institution with an alias VXL Bank.
The bank was founded in a tiny African country and added prominent individuals to its Board.
It included Francisco de Borbon von Handerberg, who is one of the Spanish royal family. Others who have been promoting VXL Dollar include <redacted> as well as Reza Ebrat.
Before this fraud, they had vxl.network, but they’ve since deleted the site. The reviewer cautions crypto enthusiasts against making investments in the VXLD.
He points out that the folks behind this scam employ an unconventional approach to spread the fraud.
They don’t advertise the scam via exchanges or on the internet. Instead, they focus on people who attend parties or social gatherings. An earlier post by this reviewer provides additional details about this fraud.
“VXL Dollar isn’t the First Scam of These People”.
This reviewer claims that VXL Dollar was promoting itself by boasting that they have more than $2 billion of gold in collateral due to its ties with Spain’s royal family. Spanish Royal family.
But, the reviewer claims that it’s all a lie.
Reza Ebrat created ten websites to spread the scam.
The reviewer mentions that scgtrust.com once ran the website. They have since taken down the website. Before their deletion, they had claimed that scgtrust.com had granted VXL bank the authority to operate.
It was an untruth.
They also operate ib-ex.com, another scam claiming to provide 36% annual interest. They’ve also removed this site. The minimum amount of money required to earn a rate of interest was $500,000.
Additionally, they used to operate ariousgold.com. They claimed to have an enterprise in gold, but it’s gone as well as the other.
At present, they run vxlbank.com to advertise VXLD and help the victims.
The reviewer says VXL Bank is an untrue financial institution claiming to have between 250 and 300 employees. It has only a license from the Central Bank of Sao Tome and Principe, two of the tiniest African nations that do not have strict rules.
So, don’t believe the statements of VXL Bank, which is the financial backing to VXL Dollar.
In the article, the reviewer aired his concerns to The Financial Market Authority of Liechtenstein about SCG Trust’s legality. SCG Trust.
The FMA was able to respond by saying the fact that SCG Trust didn’t have a license from the FMA. Ultimately, providing any financial services within their jurisdiction was not legal.
Furthermore, it was suggested that the FMA advised against using the site owned by SCG Trust, the so-called authority that endorsed VXL Dollar as a legitimate cryptocurrency.
After some time, when reviewer reported that had removed the site quickly.
Additionally, they were known to publish information concerning themselves via the site of VXL.Network. However, they stopped this when victims began to expose their fraudulent schemes.
The couple has been promoting VXL Dollar through their Instagram accounts. Despite numerous warnings from people that this was a fraud, they ignored the warning and are promoting the fake cryptocurrency regardless.
During the reviewer’s investigation, the reviewer contacted the bank in Abu Dhabi in the UAE, Abu Dhabi Investment Authority (ADIA).
In the response, ADIA informed the reviewer that they do not belong with VXL Bank or VXL Dollar.
Additionally, they advised the person reviewing that the company they’re dealing with isn’t legitimate and it’s an attempt to commit fraud.
The reviewer reveals that [redacted] was even able to convince Thomas Kramer to promote the fraud. Thomas Kramer is a real property entrepreneur who was able to lose $200 million as a result of the court’s order.
VXL Dollar’s False Claim of Having Billions in Collateral. The reviewer explains that VXL Bank falsely claims to hold billions of dollars worth of gold as collateral.
Here is a short excerpt from the post in which VXL Dollar claimed that they have this collateral. However, they removed the post after a reviewer pointed out that they’re located in a tiny African country with virtually no regulations.
Furthermore, since the company claims to be located within such a distant locale, customers can’t confirm the authenticity of their claims.
Additionally, VXL Dollar used to have the following “About Us” page on its website. However, it has been removed.
There is currently no web page on their site. If you click on the “About Us” or “About Us” button on the site of VXL Bank, you get a redirection to their homepage.
After examining the points above, it’s evident that VXL Dollar, aka VXL Bank, isn’t as reliable as it appears to be.
The cryptocurrency offerings are not without warnings.
Additionally, the way they attempted to exploit the reputation of other well-known organizations, declaring that they are affiliates but without any affiliations, indicates they are not ethical.
It is best to stay clear of cryptocurrency ventures without morality, as you may lose your entire investment.
For instance, many customers from Tiger Trade and Euro traders have claimed to have been unable to access their accounts due to the fraudulent activities of their platform.
So, do not invest in VXL Dollar.