FAMEEX Urges Users on High Alert Against Rampant Scams as Fraud Scheme Flourishes

As a registered digital currency exchange provider in Australia, FAMEEX strictly follows the law and regulations around the world by providing services to more than 30 places. Keeping the security of users’ funds as the most important issue, FAMEEX, therefore, utilizes a four-layer ladder encryption protection mechanism. In addition to the robust protection, FAMEEX needs users to put on high alert together in order to keep scammers at bay.

Four-Layer Ladder Encryption Protection Mechanism

The encryption protection mechanism ensures the security of funds, which can guarantee all links of on-chain storage, on-chain and off-chain are free from all forms of technical threats, including Sybil attack, Denial of Service attack, Eclipse attack, Dust attack, CC attack or DNS hijacking.

Firstly, FAMEEX adopts a tamper-proof full node wallet to synchronize all data on the blockchain, so that the platform will not be hacked easily. Secondly, the asymmetric encrypted one-way hash function algorithm is implemented to generate the one-way private key and public key, which ensures the funds on the chain are undecipherable. FAMEEX also separates and encrypts the hot and cold wallets and lastly FAMEEX randomly splits the private key before they are encrypted and stored in the database as well as setting multiple read permissions.

Security Verification Features

Users would be indicated to set up a more sophisticated and less likely to be hacked password. Through notifications, FAMEEX lets users know to change passwords regularly in case of any malicious attack. Users can check their login records on the official website or App to learn if any suspicious activities are happening.

FAMEEX supports eight different security verification features, ranging from the basic cell phone and Email verifications to anti-phishing and Google Authenticator. Users can avoid being exploited or hacked by checking their security log and device management section regularly.

Frequent Fraud Tactics

Counterfeit Government Document

Scammers send fake government papers or pretend to be officials to make phone calls, which makes the potential victims panicked or anxious. This type of scam tactics prevails since people rarely cast doubt on the power of the authorities.

Fake Friends Approach

Scammers may impersonate the victim’s friends by stealing their photos on social media and asking for investment in unknown crypto projects.

Phishing Websites

Many fraudulent activities happen on phishing websites that earn trust from users with a domain and appearance similar to an official website.

Make a Deposit to Withdraw Funds

Many fraud victims claim that scammers intimidate them to deposit funds, otherwise they would lose money. In some cases, scammers told them to make a deposit or they were unable to withdraw their funds.

Ways to Avoid Crypto Scams

•  FAMEEX has already suspended services in China and will not initiate private chat with specific users. Also, FAMEEX only offers English customer service for now in order to serve users around the world.
• Scammers usually send text messages with a threat, claiming your account will be permanently banned if you don’t deposit a certain amount. In any case, don’t follow their instructions.
• FAMEEX never asks users to deposit crypto for withdrawal.
• FAMEEX only has one official website.

FAMEEX suggests users contact the customer service team first if encounter any suspicious situations and never conduct any transactions before contacting the team. For any updates, listing, campaigns, or projects, FAMEEX will only announce through our official channels such as our website and social media. Please don’t trust any fake phishing websites or projects that are not announced through official channels!

About FAMEEX

The rising exchange FAMEEX started its trial operation in September 2019 and officially launched services on the 1st of January 2020. FAMEEX has dedicated to providing the safe, stable and fast trading experience for users. Since the priority of FAMEEX is security and safety, it only offers the mainstream cryptocurrencies having no exploitation concerns. Services including, grid trading, perpetual futures contract, spot trading and super commission rebate program are provided.

With a four-layer ladder encryption protection mechanism, users who trade on FAMEEX hardly need to consider the safety issue while enjoying relatively low trading fees. The basic spot trading fee is 1‰ while the futures trading fee is 0.2‰. Through constant optimizations, FAMEEX hopes to offer a more enjoyable trading journey for users who can trade straightforwardly.

Find FAMEEX on: Twitter, YouTube, Telegram, Trade on-the-go with FAMEEX’s crypto trading app  (iOS/Android).