Fraud is one of the most difficult problems to solve in human history. The WEEX exchange frequently receives reports from users claiming they have been scammed by fake WEEX trading platforms. I've even heard from friends that there are dedicated teams that are systematically creating impersonation scam websites of well-known exchanges, specifically targeting inexperienced cryptocurrency investors.
The WEEX exchange has repeatedly issued fraud risk warnings and created a dedicated page (Cryptocurrency Loss Trading Platform and Impersonation Scam Website Tracker) that has collected over 40 impersonation scam websites and loss platforms of the WEEX exchange to remind internet users to be cautious and avoid falling victim to scams. However, new impersonation scam platforms continue to emerge, and many users have been defrauded one after another.
Fraud is like cockroaches and mosquitoes; it cannot be completely eradicated. All we can do is continuously learn, raise awareness of safety, and accumulate knowledge to combat fraud. Below are the four steps to determine whether a cryptocurrency exchange is safe or a scam platform, as introduced by Youtuber 'Whispering Cat Business School' in their teaching video. WEEX Blog shares the text version (content has been edited) for newcomers in the crypto community to learn.