Attention!
This brokerage company is on the Blacklist. Working with companies on the Blacklist carries high risks of losing your money. We continuously monitor the Internet in order to identify new scams aimed at defrauding traders, and categorically do not recommend working with companies on the Blacklist.
We advise traders to choose reliable and trustworthy licensed companies from among top brokers of our rating:
Summary of Velod Crypto Exchange
The Velod crypto exchange has been identified as a scam on several review platforms. Reviews suggest that Velod operates under multiple names such as Velodeid and Velod.AI, using these platforms to defraud users. Velod and its variants are reported to be fake platforms that do not offer real trading functionalities. The sites are designed to appear legitimate, but users’ funds are never actually invested. Instead, the money is sent directly to the scammers' wallets, and users are shown fake balances. The platforms promise unrealistically high returns, a common red flag for investment scams. Many users are lured in through unsolicited contacts on social media. When users attempt to withdraw their funds, their accounts are blocked. Scammers then demand additional fees for taxes, commissions, or other fictitious charges to unlock the funds, which never happens. Given the consistent reports of fraudulent activities associated with Velod, it’s advised to avoid engaging with this exchange and report any suspicious activities to relevant authorities.
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FAQs
Why has Velod been blacklisted?
Possible reasons:
• Velod has stopped fulfilling its obligations or is doing so incorrectly or with delays. There are numerous well-founded complaints from users.
• The website is no longer functioning or supported by the developers.
• The platform has been blacklisted by regulators, with warnings indicating a likelihood of failing to meet obligations to users.
Other reasons are possible, but being blacklisted is a signal that the platform is experiencing problems.
I work with Velod and saw it blacklisted. What should I do?
Possible options:
• If you're not a client of Velod, it’s best to avoid working with them. If the platform is blacklisted, it may have structural or critical issues. It’s better to look at platforms from the TOP-10 ratings.
• If you are a client, don’t panic. First, check with Traders Union's technical support to understand the reasons for the blacklist. If the problems are serious, gradually withdraw your funds. If there are issues with withdrawal, try to resolve them amicably or contact regulators.
Does being blacklisted mean Velod is a scam?
Not necessarily, although there is a chance of this. It could also mean the platform is facing financial, technical, or corporate issues, making it temporarily less capable of fulfilling its obligations. It might be removed from the blacklist in the future, but it could also become a scam. In any case, a blacklisting is a high-risk signal for users.
How can I withdraw funds if Velod has been blacklisted?
Possible options:
• If Velod allows withdrawals (even if delayed or in parts), be patient and withdraw your money.
• If the platform refuses withdrawals under various pretexts, document all communication with customer support. Send screenshots with a detailed description of the situation and transaction confirmations to regional regulators and local law enforcement. In some cases, you might be able to initiate a chargeback procedure through your bank.
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