Brief Look at Coinflare
The cryptocurrency exchange Coinflare (formerly Bitflex), owned by Gray Matter Labs Limited, announced its closure in the spring of 2026 after the Financial Services Authority of the Seychelles (FSA) denied the exchange its VASP license. The main reasons for this were severe regulatory pressure, the impossibility of legally operating in this jurisdiction, and the subsequent freeze on transactions. Effective April 20, 2026, the platform stopped automatic withdrawals, initiating a manual review process for asset refund requests.
We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.
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