Fegdex scam: What it is, how it works, and how to avoid fake crypto exchanges

When you hear Fegdex scam, a fraudulent crypto exchange impersonating a legitimate trading platform. Also known as fake crypto exchange, it’s designed to steal your funds by mimicking real interfaces, fake testimonials, and urgent deposit prompts. This isn’t just another phishing site—it’s a full-scale operation that copies logos, uses cloned websites, and even posts fake customer support chats to look real. People lose thousands because they trust what looks like a working exchange, not realizing the backend is empty.

These scams rely on three things: urgency, illusion of legitimacy, and lack of verification. You’ll see claims like "Limited-time bonus," "Exclusive access," or "Fegdex is now live on CoinGecko"—but CoinGecko doesn’t list it. The site might show fake trading volumes, fake withdrawal confirmations, or even fake YouTube videos with actors pretending to be users. Underneath, there’s no liquidity, no real order book, and no team. The whole thing vanishes once money flows in. This is the same pattern you see with Tranquil Finance, a crypto platform with no audits, no users, and zero credibility, or Amaterasu Finance, a dead exchange with zero trading activity and a trust score of 2. They all look alive until you try to pull your money out.

Scammers target people looking for quick gains, especially those new to crypto. They use Telegram groups, TikTok ads, and fake Twitter accounts to push links. They’ll even create fake Reddit threads or Medium articles to make it seem like the project has community backing. But if you check the domain registration, it’s new. If you look at the token contract, it’s unverified. If you search for the team, there’s no LinkedIn, no GitHub, no public history. Real exchanges like Uniswap or PancakeSwap have open-source code, public audits, and years of track records. Fegdex has none of that. It’s a ghost.

What makes these scams dangerous is how they mimic real behavior. They’ll send you a "security alert" asking you to reconnect your wallet. They’ll claim your funds are frozen unless you pay a "release fee." They’ll even send you a fake email from "[email protected]" that looks official. But real platforms never ask for your private key. Real platforms don’t pressure you. And real platforms don’t disappear after you deposit.

Below, you’ll find real breakdowns of similar scams—like the Fegdex scam and other fake platforms that tricked users into thinking they were trading. Each post cuts through the hype, shows you the red flags, and tells you exactly what to check before touching any new platform. No fluff. No guesswork. Just facts.