If you have read the title, you know what we’re dealing with here. Our Cryptowall Trading Review focuses on further explaining how the anonymous crypto exchange scam works.
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We will analyze the deceptive content of Cryptowall Trading’s bogus website and also repost the regulatory warning we found against this platform and talk more about it. Last but not least, we shall explain how you can recover your funds from cyber scams.
| Regulated by: | Unlicensed Scam Exchange |
| Is This Company Safe? | No |
| Known Websites: | cryptowall-trading.de |
| Have Warnings from: | BaFin |
| Registered in: | Germany |
| Operating since: | 2023-05-03 |
| Trading Platform: | Mobile |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | Not Available |
| How to Withdraw from This Company? | Since this company is unlikely to return your money – contact your bank, Financial Regulator, or simply Reach out to us for professional assistance in recovering your funds. |
Legal Info: Is CryptowallTrading Legit?
First, we shall analyze Cryptowall Trading’s illusive legal background. The platform was allegedly founded by a Leipzig-based company. WHOIS shows that the website was created in May this year.
Since Cryptowall Trading claims to be a well-known German crypto exchange, let’s see what the German financial market regulator has to say about it. Namely, we’re referring to the Federal Financial Supervisory Authority (BaFin). Unsurprisingly, BaFin issued a warning against Cryptowall Trading on August 15, 2023 (bafin).
The German regulator suspects that Cryptowall Trading is an unauthorized provider and the likelihood of that being true is high considering that no such company exists in BaFin’s register. It’s safe to say that we’re dealing with an unregulated and dangerous financial swindler. We had a similar case in Ixxen.
Instead of believing the lies of these fraudsters, you should find a reliable provider that operates under the watchful eye of a renowned financial market regulator such as the aforementioned BaFin, or the FCA (UK), CFTC & NFA (US), ASIC (Australia), FINMA (Switzerland), CySEC (Cyprus), IIROC (Canada), etc.
Who Are Cryptowall Trading’s Targets?
According to godaddy.com/whois, the Cryptowall-trading.de website domain was created on May 3, 2023. That was relatively recently so it didn’t take BaFin long to notice the scammer. Other websites such as webparanoid.com also warned against Cryptowall Trading.
After doing some research, we found out that the illicit crypto exchange has primarily been targeting traders from the following countries:
- United Kingdom;
- Germany;
- Austria;
- Switzerland;
- Italy.
German speakers seem to be the main targets. Needless to say, a provider must be regulated in order to legally offer services in these domains. All of these jurisdictions are known for heavy financial regulations regarding digital assets. Unauthorized companies cannot operate unless they obtain a license, which is evident in BaFin’s warning.
If you cannot withdraw money from Cryptowall Trading, we offer our professional assistance.
Trader Reviews
We managed to find only two reviews for Cryptowall Trading. We forum we found them on was scamadviser.com. Both reviews, i.e. complaints were in German so we took the liberty to translate them into English for the sake of our review.
Although it may be a rough translation, the point these unfortunate traders wanted to make is clear – Cryptowall Trading is a scam and should be taken down immediately! Do your best to avoid phony platforms like Cryptowall Trading and Orotrader
Without ever having created an account, I was contacted by email claiming to have opened one. Apparent website phishing attempt. Just block and ignore email
Scamadviser user, July 18, 2023.
Tapping of data… A wrong HR entry is used… The names are also stolen from other companies… It’s definitely fraud and identity theft
Scamadviser user, July 6, 2023.
Cryptowall Trading App
Cryptowall Trading claims to offer a trading app for Windows, Linux, Android and iOS devices. The mysterious app is supposed to provide a convenient way for users to utilize the platform’s features.
However, it’s important to stress once more that the platform is unregulated and extremely risky. Another alarming fact is that there is absolutely no information about the fees, crypto coins, wallet, demo account, etc. All the links on the website just take you back to the top of the home page.
Do not forget about BaFin’s warning; Cryptowall Trading is not a legitimate exchange. The app & platform may as well be rigged.
Did Cryptowall Trading steal your money? Let us know by booking a consultation with our team.
Cryptowall Trading Payment Process
Cryptowall Trading has no deposit & withdrawal policy or any legal documentation for that matter. Thus, we don’t know which payment methods the scammer accepts, minimum deposit and withdrawal requirements, related fees, or the payment processing time.
Depending on the method used to deposit funds, there are ways you could request a refund. For instance, MasterCard and VISA card transactions can be reversed via a chargeback, which can be requested at the issuing bank within 540 days.
But for crypto payments, you’ll need professional assistance. Luckily for you, our experts regularly trace crypto transactions with CipherTrace, an advanced software. Once we trace your payment to a wallet within a crypto exchange, you can request a refund from the exchange.
Customer Support
Cryptowall Trading cunningly posted links to various social media such as Facebook and LinkedIn on the website. But as we already mentioned, all the links are broken.
There is, however, a link to the scammer’s private WhatsApp chat. We assume that this is the main communication channel between the trickster and the unsuspecting victims. Aside from WhatsApp, there is a phone number, web form, and email.
Key Facts To Consider About Cryptowall Trading
To recap and wrap up the review, Cryptowall Trading claims to be a German cryptocurrency exchange. This platform has been active since May 2023, mainly targeting traders from Germany, Austria, Switzerland, Italy, and the UK.
In mid-August this year, the German regulator BaFin launched an investigation into the unauthorized and fraudulent activities of Cryptowall Trading. That’s reason enough to avoid this shady platform at all costs.
If you’re a victim of the Cryptowall Trading scam, please book your free consultation with our team and tell us more about your case. If you need professional assistance in recovering your funds, our team will gladly guide you through the chargeback process or trace your crypto transaction using CipherTrace.
Book your consultation with us today and start the chargeback process.
FAQ Section
What is Cryptowall Trading?
Cryptowall Trading is an anonymous crypto exchange scam that claims to be a well-known German platform.
Is Cryptowall Trading a Legitimate Company to Trade With?
No. The German regulator BaFin launched an investigation into Cryptowall Trading, claiming that the platform is unregulated.
What Should I Do If I Have Been Scammed by Cryptowall Trading?
You should book a consultation with us and tell us how it happened. We can help you recover your funds.
