Beware! Set-Token.com is an offshore broker! Your investment may be at risk.
Set-Token.com Key Features
🔴 Set-Token.com services are questionable – a warning sign!
🔴 Set-Token.com was reported as a scam – a red flag!
🔴 Set-Token.com is not transparent – a red flag!
🔴 Set-Token.com creates irrational expectations – a red flag!
Set-Token.com Products and Services
The title of this post asks whether Set-Token.com is a clone firm/impersonator, and the simple answer is yes! The entire website is a rip-off – these scammers copy-pasted the MEXC's site and created this fake crypto exchange. The latter is slightly controversial due to some of its services, but it's widely regarded as a trustworthy crypto platform where customers can trade, exchange, invest etc., cryptocurrencies. Well, Set-Token.com looks precisely like MEXC, but the former is a pure scam. In fact, we already covered maybe a dozen of MEXC clones, so the abuse seems to take pandemic proportions! The latter impersonators reviewed are Camp Token and BinCore, and if you follow the links, you'll see that even the logos are almost identical!
And before we continue, here is a list of other MEXC clones we already reviewed:
Cryptos went to become extremely popular, and they come with tremendous profit potential, but the assets are pretty complex and a bit enigmatic for the vast majority of people. Bitcoin is still surging, and the entire crypto market is growing exponentially, but all investments carry significant risks, such as high unpredictable volatility and absence of regulation, for example. And we'd also like to emphasize the fraud risk- crypto scams are virtually everywhere. In fact, the latest trend among scammers is to create fraudulent websites offering fictitious crypto investments and mining services aimed to entice unsuspicious investors into scam settings. The fraudulent offers usually stick to the rule “sounds too good to be true”, the entity offering the services is totally anonymous, and there is no regulation whatsoever. So, based on the products and services offered alone, we can affirm that the entity under review is dangerous. You'd better avoid it.
That said, it's worth considering trendy cryptocurrency alternatives that have already proven to be reliable. For example, many cryptocurrency exchanges like Coinbase and Bitstamp already provide passive income opportunities like BTC and ETH staking, other earning opportunities, affiliate programs, so on and so forth. Both mentioned are law-abiding financial firms that operate transparently, so you won't be exposed to fraud risks if you trust them.
Set-Token.com Company and Regulation
Set-Token.com is illegal. It may as well be linked to some legal entities, but that wouldn't change anything as we already proved it's a dirty scam! In any case, it's easy to prove that Set-Token.com is not licensed, which is more than enough for you to stay away!
So, the crypto service under review isn't a typical firm, and as such, it's not regulated. The absence of regulation implies that your investments will be at risk if you deposit. Moreover, you won't have access to complaint procedures or money protection schemes, so if things go wrong, you'll be the one to suffer the complete loss. Even more so, the digital coin transactions are anonymous, so if you get scammed by a shady crypto provider, you can't get your money back.
Indeed, cryptocurrency regulation has been a hot topic for a long time. The digital coins themselves are not issued or governed by central banks, but too many countries already have plans to introduce centralized cryptocurrencies. Still, Bitcoin is a peer-to-peer payment system that's considered too risky for many. However, many crypto firms are now operating with financial licenses; they are transparent, and their clients can benefit from certain customer protection measures if things go wrong. And that doesn't apply to the entity under review, which is an anonymous and most probably totally illegal enterprise that can switch off its servers, pocket clients' money and get away with the crime.
Set-Token.com Address and Contacts
| Address: | None |
| Phone number: | None |
| E-mail: | None |
Set-Token.com doesn't fancy sharing contact information. And we never expected them to do so, actually! After all, that's a project of scammers, so these people would never ever share their actual location. Nevertheless, the website analysis seen in the following section suggests it's a Russian scam, but would it make any difference if the fraudulent website was run by Americans?
Considering investment opportunities, transparency is always crucial. As for cryptos, you already know that Bitcoin is a peer-to-peer payment system, which is designed to protect the privacy and to provide security. However, that doesn't mean that the crypto providers should also be anonymous. After all, these people will handle your money, so you should at least know who they are and where they operate from. In fact, we need to note that some trustworthy exchanges don't reveal such information on their websites, but it's still easy to verify that businesses are legal, law-abiding companies; therefore, it's always a worrying sign if the crypto provider isn't transparent.
Set-Token.com Website Info
| Alexa Ranking | None at the time of writing |
| IP | N/A |
| Server Country | N/A |
| WHOIS Reg. Date | 2022-02-01 |
| Registrar | Registrar of domain names REG.RU LLC |
| SSL certificate | Valid |
| Owner | Name; Lvov Slava Organization: Private Person Address: 10 Ang Mo Kio Street 53 City: Singapore State / Province: Singapore Postal Code: 569206 Country: RU Phone: +7.9118393723 Fax: +7.9118393723 E-mail: [email protected] |
| Administrator | Name; Lvov Slava Organization: Private Person Address: 10 Ang Mo Kio Street 53 City: Singapore State / Province: Singapore Postal Code: 569206 Country: RU Phone: +7.9118393723 Fax: +7.9118393723 E-mail: [email protected] |
Is Set-Token.com Safe?
Set-Token.com is not safe! It's a scam we exposed, so make sure to stay away, or you'll lose money to fraud if you deal with it!
Scam Warning
Scammers are always riding the trends, so it's not at the least surprising that cryptocurrency fraud is now blooming. Even more so, the high-tech nature of Bitcoin actually facilitates scams as most people don't really know how crypto works, so scammers take advantage of the lack of understanding. Indeed, the crypto scam has been here for a while, and it proved to be extremely dangerous- just recall OneCoin, which happened to be a multi-billion Ponzi scheme disguised as a revolutionary digital currency. However, scammers rarely go out of their comfort zone, so most crypto scams happen to be very similar to the typical investment fraud.
The fraudulent crypto schemes are also anonymous and illegal, while scammers introduce themselves with fake identities. There are also too many impersonators resembling the websites of valid start-up companies from where customers get redirected to other insecure fishy payment portals that may as well carry additional security risks. The cons yet again promise the moon and the stars to their victims but won't deliver a thing in the end. However, the difference between crypto and the rest of the investment scams is that people are more likely to believe that they can become rich overnight as Bitcoin has already proved to have massive profit potential. In any case, you should be very cautious when it comes to crypto, as the markets are plagued by scammers ready to take advantage of you.