Exchanger24 - AI risk analysis

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AI risk analysis - Exchanger24 (2025-04-29 17:35:41)

Below is a comprehensive analysis of Exchanger24 (official website: https://exchanger24.org/) based on the requested criteria, including online complaints, risk level assessment, website security, WHOIS lookup, IP and hosting analysis, social media presence, red flags, regulatory status, user precautions, and potential brand confusion. The analysis incorporates available information from web sources, user reviews, and critical evaluation of the platform.

1. Online Complaint Information ¶

Exchanger24 has garnered significant negative feedback across multiple platforms, raising concerns about its legitimacy. Key complaints include:

Non-delivery of Funds: Numerous users report sending cryptocurrencies (e.g., Bitcoin, Ethereum, Litecoin) to Exchanger24’s wallets but receiving no corresponding payments (e.g., via PayPal). Examples include:
A user sent 0.0035 BTC ($32.9) and received no PayPal payment after waiting.
Another user sent 1.26 ETH in December 2020 and received no funds, labeling it a “real SCAM.”
A user reported losing $60 worth of BTC with no response from the platform.
Lack of Communication: Users frequently note that Exchanger24 does not respond to emails, has an inactive phone number, and lacks active support channels (e.g., no Skype presence).
Fake Reviews: Several users allege that positive reviews on Exchanger24’s site and platforms like Trustpilot are fabricated. Negative reviews are reportedly challenged by the site’s operators, who claim they are false, but users have provided evidence to verify their claims.
High Financial Losses: Some users report substantial losses, including one who lost $515,000 and another who lost $985,000, with accounts being locked or withdrawals denied.
Trustpilot and Other Platforms: Trustpilot reviews show a mix of ratings, with 1,536 reviews and a 5-star rating claimed, but many negative reviews describe Exchanger24 as a scam. Scamdoc reports an average trust score of 59%, with user ratings averaging 1.9 stars from 105 reviews. Summary: The volume and consistency of complaints about non-delivery, lack of support, and alleged fake reviews strongly suggest fraudulent behavior.

2. Risk Level Assessment ¶

Based on various trust evaluation tools and user reports, Exchanger24 is rated as high-risk:

Scam Detector: Assigns a medium trust score of 58.6, citing high-risk activities related to phishing, spamming, and other suspicious behaviors. The score is based on 53 aggregated factors, indicating “Active. Medium-Risk.”
Scamadviser: Rates Exchanger24 with an “extremely low” trust score, suggesting it could be a scam. The algorithm considers source code, terms and conditions, company location, and negative reviews.
Scamdar: Gives a trust score of 1%, noting the server’s presence on 2 of 5 public spam blacklists.
WOT (Web of Trust): Users report Exchanger24 as a scam, with warnings about data deletion after transactions and lack of customer support.
Proximity to Suspicious Websites: Exchanger24 has a high score for connections to suspicious websites, indicating potential vulnerabilities or affiliations with dubious platforms. Summary: Multiple independent sources assign low trust scores, with consistent indicators of high-risk activity, including phishing and scam-like behavior.

3. Website Security Tools ¶

An analysis of Exchanger24’s website security reveals both positive and concerning elements:

SSL Certificate: The website uses a valid HTTPS (SSL) connection, which encrypts traffic between the user and the site. This is a basic requirement for handling payments and sensitive data.
Security Features: There is no mention of advanced security measures such as two-factor authentication (2FA), cold storage for funds, or regular security audits, which are standard for legitimate cryptocurrency exchanges.
Suspicious Code: Some analyses suggest vulnerabilities in the HTML code, potentially linked to phishing or spam activities.
Maltiverse Warning: The website has been flagged as dangerous by Maltiverse, a cybersecurity threat intelligence platform. Summary: While the presence of an SSL certificate is positive, the lack of transparency about additional security measures and warnings from threat intelligence platforms raise concerns about the site’s safety.

4. WHOIS Lookup ¶

The WHOIS data for Exchanger24.org provides limited transparency:

Registrant Information: The registrant’s name, organization, address, and contact details are redacted for privacy, listed under the Whois Privacy Protection Foundation in Zuid-Holland, Netherlands.
Registrar: The domain is registered through Hosting Concepts B.V. d/b/a Registrar.eu.
Domain Age: The domain was created approximately 5 years ago (circa 2020). While older domains are generally more trustworthy, scammers can purchase existing domains, so this alone is not conclusive.
Registration Duration: The domain is registered for multiple years, which is a positive sign of intent to operate long-term. Summary: The hidden WHOIS data is a red flag, as legitimate exchanges typically provide transparent ownership details. The domain age and registration duration are neutral but insufficient to establish trust.

5. IP and Hosting Analysis ¶

Details about Exchanger24’s hosting and IP configuration include:

Hosting Provider: The website is hosted by HOSTIQ.UA, a Ukrainian hosting company.
Server Location: The server is likely located in Ukraine, consistent with the hosting provider. However, the company’s operational location is unclear, as WHOIS data points to the Netherlands.
IP Blacklisting: The server is listed on 2 of 5 public spam blacklists, indicating potential spam or malicious activity.
Shared Hosting Concerns: The domain shares its server with other websites, some of which may be suspicious (e.g., slanet.ru, bitcoinmoney.ru), increasing the risk of association with fraudulent platforms. Summary: The Ukrainian hosting and server blacklisting are concerning, especially given the lack of clarity about the company’s operational base. Shared hosting with potentially suspicious sites further elevates risk.

Exchanger24’s social media presence is limited and problematic:

No Official Accounts Identified: There is no verifiable information about official social media accounts for Exchanger24 on platforms like Twitter, Facebook, or Instagram.
Suspicious Advertisements: Users report encountering Exchanger24 through suspicious ads on platforms like Facebook and Instagram, which is a common tactic for fraudulent websites.
Lack of Engagement: Legitimate exchanges typically maintain active social media profiles for customer support and updates. The absence of such profiles is a red flag. Summary: The lack of a credible social media presence and reports of suspicious ads suggest Exchanger24 does not engage transparently with users, a hallmark of potential scams.

7. Red Flags and Potential Risk Indicators ¶

Several red flags and risk indicators emerge from the analysis:

Anonymity: The hidden WHOIS data and lack of transparent information about the company’s leadership, CEO, or operational team are major concerns.
Unrealistic Promises: Some users report promises of high returns or guaranteed profits, which are common tactics used by fake exchanges.
Lack of Regulatory Compliance: There is no evidence of Know Your Customer (KYC) or Anti-Money Laundering (AML) protocols, which are mandatory for legitimate exchanges.
Fake Reviews: Allegations of manipulated or fake positive reviews on Exchanger24’s site and Trustpilot undermine credibility.
Non-responsive Support: Inactive phone numbers, unresponsive emails, and missing live support channels indicate poor customer service.
Changing Wallet Addresses: Users report that Exchanger24 changes its cryptocurrency wallet addresses frequently, potentially to obscure transactions or avoid accountability.
Offshore Operations: Exchanger24 is described as an offshore broker, which increases the risk of regulatory evasion and fund insecurity. Summary: The combination of anonymity, lack of regulatory compliance, and operational inconsistencies strongly suggests Exchanger24 is a high-risk platform.

8. Website Content Analysis ¶

An examination of Exchanger24’s website content reveals:

Professional Appearance: The website appears polished, which can mislead users into believing it is legitimate. However, this is a common tactic for scam sites.
Limited Transparency: The site lacks detailed information about the company’s team, physical address, or regulatory licenses.
Payment Methods: Exchanger24 supports payment methods like PayPal, Mastercard, Visa, and Alipay, which offer some consumer protections (e.g., chargebacks). However, these are not foolproof, and users report non-delivery despite using these methods.
Misleading Claims: The site claims to be a “reliable and secure platform for trading Bitcoin and other cryptocurrencies,” but these claims are not substantiated by regulatory evidence or user experiences.
Data Deletion: Users report that transaction data is deleted from the site after payments are made, preventing tracking or verification. Summary: The website’s professional design and payment options create a facade of legitimacy, but the lack of transparency, misleading claims, and reported data deletion are significant concerns.

9. Regulatory Status ¶

Exchanger24’s regulatory status is unclear and problematic:

No Evidence of Licensing: There is no verifiable information on the website or elsewhere indicating that Exchanger24 is registered with reputable financial authorities (e.g., SEC, FCA, or equivalent).
Offshore Broker Concerns: As an offshore broker, Exchanger24 likely operates outside strict regulatory oversight, increasing the risk of fund mismanagement or disappearance.
Lack of KYC/AML: The absence of KYC or AML protocols suggests non-compliance with anti-money laundering laws, a red flag for illegitimate operations.
Quora Claim: A Quora post claims Exchanger24 operates in a “regulated and secure environment,” but this is not corroborated by primary sources and appears promotional. Summary: Exchanger24 lacks credible regulatory oversight, a critical factor for trusting a cryptocurrency exchange.

10. User Precautions ¶

To protect themselves, users should take the following precautions when considering Exchanger24 or similar platforms:

Research Extensively: Check reviews on platforms like Trustpilot, ScamAdviser, and WOT before engaging. Verify claims through multiple sources.
Test with Small Amounts: If testing a platform, send a minimal amount (e.g., $5) to assess reliability, as some users did with Exchanger24.
Use Secure Wallets: Store cryptocurrencies in reputable hot or cold wallets (e.g., Ledger, Coinbase) rather than relying on unverified exchanges.
Avoid Suspicious Ads: Be cautious of platforms promoted through unsolicited social media ads or emails, as these are common scam vectors.
Demand Transparency: Only use exchanges that provide clear information about their team, regulatory status, and security measures.
Report Scams: If scammed, report to the hosting provider (e.g., HOSTIQ.UA at abuse@hostiq.ua), file complaints with platforms like Trustpilot, and consider legal action.
Seek Recovery Assistance: Engage reputable recovery firms if funds are lost, but verify their legitimacy to avoid secondary scams. Summary: Users must exercise extreme caution, conduct thorough due diligence, and prioritize platforms with proven credibility.

11. Potential Brand Confusion ¶

There is potential for brand confusion with Exchanger24, as evidenced by:

Similar Domains: Other websites with similar names (e.g., exchanger24.com or regional variants) could be mistaken for Exchanger24.org, especially if operated by different entities.
Misleading Trustpilot Reviews: Some Trustpilot reviews describe Exchanger24 as a vendor of lab equipment or chemicals, which conflicts with its claimed role as a cryptocurrency exchange. This suggests either a different entity using the same name or deliberate obfuscation.
Generic Branding: The name “Exchanger24” is generic and could be confused with legitimate exchanges or unrelated businesses, increasing the risk of users engaging with the wrong platform. Summary: The generic name and conflicting review content create a risk of brand confusion, potentially exploited by scammers to mislead users.

12. Critical Evaluation ¶

While some positive reviews and the website’s professional appearance might suggest legitimacy, the overwhelming evidence points to Exchanger24 being a fraudulent operation:

Contradictory Reviews: Positive reviews are often vague or promotional, while negative reviews provide specific details (e.g., transaction amounts, wallet addresses) and evidence, lending them more credibility.
Lack of Accountability: The combination of hidden ownership, non-responsive support, and frequent wallet address changes suggests intentional efforts to evade accountability.
Regulatory Evasion: The absence of KYC/AML compliance and offshore status align with tactics used by fake exchanges to avoid scrutiny.
User Losses: Reports of significant financial losses, coupled with consistent patterns of non-delivery, outweigh any claims of reliability. The narrative of Exchanger24 as a legitimate exchange is not supported by the evidence, which aligns more closely with characteristics of a scam.

Conclusion ¶

Exchanger24 (https://exchanger24.org/) exhibits numerous red flags that classify it as a high-risk platform, likely a scam. Key concerns include widespread user complaints about non-delivery of funds, low trust scores from multiple evaluators, hidden ownership, lack of regulatory compliance, and suspicious operational practices (e.g., changing wallet addresses, fake reviews). The website’s professional appearance and SSL certificate are insufficient to offset these risks, as they are common among fraudulent sites. Recommendation: Avoid using Exchanger24 for cryptocurrency exchanges. Instead, opt for well-regulated platforms like Coinbase, Binance, or Kraken, which provide transparent information, robust security, and regulatory compliance. If you have engaged with Exchanger24 and lost funds, report the incident to the hosting provider (abuse@hostiq.ua), file complaints on review platforms, and consider consulting a reputable recovery firm after verifying its legitimacy. Note: Always conduct independent research and exercise caution with online financial platforms, especially those with limited transparency.