What is CoinFtx (coinftx.net)?
CoinFtx claims to offer financial and investment services online, but it operates without authorization from any recognized financial authority such as the Financial Conduct Authority (FCA).
According to publicly available information, CoinFtx lists its website as coinftx.net.
Did You Lose Funds to CoinFtx?
If you have been affected by CoinFtx, it’s important to act quickly. Complete the form below to receive a free case review from cyber-intelligence specialists.
Is CoinFtx Safe or Risky?
A major warning sign is that CoinFtx is not monitored or licensed by any trusted regulator. Legitimate financial firms are typically authorized by agencies such as the FCA, ASIC, CySEC, SEC, or CFTC. These bodies ensure companies follow laws that protect customers from fraud and mismanagement.
Because CoinFtx lacks such oversight, there is no guarantee that your funds are safe or that the company acts honestly. Unregulated entities can operate freely, and if they disappear with your money, there’s often little that can be done to recover it.
For example, clients of unlicensed firms in the UK are not eligible for help from the Financial Ombudsman or the Financial Services Compensation Scheme (FSCS). Similarly, U.S. customers dealing with unregistered platforms don’t get protection from FINRA or SIPC, meaning no insurance for their deposits.
How Online Scammers Operate
Scammers running fake investment sites use clever social tactics and convincing marketing to attract victims. They often copy the design of real platforms and use psychological tricks to gain your confidence before stealing your funds. Here are some common techniques used in scams like CoinFtx.
The “Pig Butchering” Scheme
“Pig butchering” scams mix emotional manipulation and fake investments. The scammer starts by forming a fake friendship or romantic relationship through dating apps or social networks. Over time, they build trust and begin discussing a “safe” or “exclusive” trading opportunity.
Once the victim feels confident, the scammer guides them to a fraudulent investment site that looks real but is entirely controlled by the criminal. These fake platforms often display rising profits and fake transaction data to convince victims to invest more money.
Deceptive Trading Platforms and Fake Brokers
Fraudulent brokers create realistic-looking trading dashboards with fabricated numbers, graphs, and account histories. Everything is designed to appear legitimate, but the trades, profits, and balances are all fake. Victims often realize the truth only when they try to withdraw their money and encounter endless excuses.
To make their schemes more believable, scammers sometimes allow a small withdrawal at the start. This builds false trust and leads victims to invest larger amounts later. Once bigger sums are sent, all withdrawals are blocked.
Common warning signs of scam platforms include:
- Unexpected Messages: Someone contacts you out of nowhere about investment opportunities.
- No Verified License: The company isn’t listed with any legitimate regulator or provides fake registration details.
- Too-Good-To-Be-True Offers: Unrealistic promises like daily profits or “guaranteed returns.”
- Withdrawal Delays: The platform asks for extra payments or documents but never releases your funds.
- Fake Dashboards: Account data and profits are fully controlled by scammers to make the illusion look real.
These brokers also publish false reviews and testimonials to appear trustworthy. Sometimes they even use edited photos or videos of celebrities claiming to support the platform — all completely fabricated.
What to Do If You’ve Been Defrauded
Being tricked by CoinFtx or a similar scam can be distressing, but quick action gives you the best chance of recovering your losses. Follow these steps right away:
- Stop All Contact: Do not reply to the scammer, even if they promise refunds or new offers — these are secondary scams.
- Inform Your Bank: Contact your bank or payment provider and report the fraudulent activity immediately.
- Collect Evidence: Keep copies of all communication, receipts, and transaction records connected to the scam.
- File a Report: Contact your country’s cybercrime division or financial regulator to submit a formal complaint.
Stay alert when investing online. Always verify if a broker is officially licensed and regulated before transferring funds. Avoid platforms promising guaranteed profits, and remember that real investments always involve risk — not certainty.