How it works
The site looks like a working exchange, with charts, balances, and support chat. Users deposit funds and may even see fake profits, but withdrawals are blocked, delayed, or met with demands for more fees and taxes. Some clone a real exchange on a lookalike domain; others are wholly invented brands promoted through ads and social media.
These platforms often anchor longer scams like pig butchering.
How it relates to brand impersonation
When a fake exchange clones a real brand, it is direct brand impersonation aimed at that exchange customers. Taking the site down protects users and the impersonated brand alike.
How nebty helps
nebty monitors for sites and lookalike domains impersonating your exchange or token project and takes them down on demand. See our crypto brand protection page.
The withdrawal test
The defining feature of a fake exchange is the asymmetry between paying in and getting out. Deposits are easy and instant; withdrawals stall, fail, or trigger a sudden demand for fees, taxes, or a minimum balance before funds can be released, each new condition designed to extract more before the victim gives up. The site itself can be convincing, with live-looking charts, a balance that even shows fake gains, and a support chat that reassures you. Some clone a real exchange on a lookalike domain to borrow its reputation; others invent a plausible brand and push it through ads and social media. A practical test is to attempt a small withdrawal early, before depositing more, and to check independent reviews and the regulator registers for the jurisdiction it claims. For an impersonated exchange, the clone is a detectable lookalike that can be taken down.
