BITBORK Exchange is a digital asset trading platform founded in New York, the United States, which mainly provides investors with Bitcoin, ether, IDA, Dogecoin and other digital currencies trading services. However, neither the Financial Industry Regulatory Authority (FINRA) nor the Treasury Department's Financial Crimes Enforcement Network (FinCEN) website found any regulatory or authorization information related to the company.
Company background:
According to the BITBORK Exchange website, the company is registered in New York, USA. However, the NEW YORK STATE website did not find any registration information related to the company, suggesting that the information that the company was registered in New York was false. In addition, the domain name registration information of the website queried by Whois shows that the company's official website domain name was registered on May 31, 2022, and the domain name registration time has been more than 1 year.
Account Registration:
According to the BITBORK Exchange website, the company provides investors with a link to register for a real account. To Register a real account, click "Register" at the upper right corner of the BITBORK Exchange official website to enter the account registration page, fill in the information such as phone number, password and invitation code as required, and complete the identity verification to complete the real account registration. The BITBORK Exchange account registration page supports Simplified Chinese, Traditional Chinese, English, German, French, Spanish, Japanese, Korean, and Thai. However, the BITBORK Exchange website does not provide a link to sign up for a demo account.
Transaction mode:
According to the official website of BITBORK Exchange, the company provides investors with five different types of trading modes: coin trading, contract trading, fast contract, Depository treasure and IEO subscription. However, the official website of BITBORK Exchange only provides specific trading products covered by coin trading, while the specific trading products covered by contract trading, fast contract, Depository treasure, IEO subscription require investors to log in to view.
Trading Products:
According to the official website of BITBORK Exchange, the company provides investors with trading services for digital currencies such as Bitcoin, Ether, IDA, and Dogecoin. In addition, BITBORK Exchange does not provide the trading commission, trading spread information of these trading products, nor does it provide the minimum trading unit, maximum trading unit and other information of these trading products.
Margin ratio:
The BITBORK Exchange website does not provide margin (leverage) ratio information for digital currencies such as Bitcoin, Ether, IDA, and Dogecoin.
Trading Hours:
The official website of BITBORK Exchange does not provide information on the trading hours of digital currencies such as Bitcoin, Ether, IDA, and Dogecoin.
Charge and withdraw:
Although the official website of BITBORK Exchange provides the method of filling and withdrawing coins, it does not provide the channels and methods of filling and withdrawing coins, currencies, and information such as the time and cost of filling and withdrawing coins.
Trading Software:
According to the BITBORK Exchange website, the company provides investors with trading software that supports computer (Winodws/MacOS) and mobile (IOS/Android).
Regulatory information:
Although regulators in most countries around the world have not formed comprehensive supervision of digital currency-related institutions, the US financial regulator has repeatedly reaffirmed its supervision of digital currency-related institutions. In addition, although the BITBORK Exchange website does not provide the regulatory or authorization information it has obtained, neither the Financial Industry Regulatory Authority (FINRA), the regulator where the company is registered, nor the Treasury Department's Financial Crimes Enforcement Network (FinCEN) website has any regulatory or authorization information related to the company.
Summary:
BITBORK Exchange is a Ponzi scheme. On the one hand, the official website of BITBORK Exchange shows that it is registered in NEW YORK, USA, but the website of the NEW YORK STATE government does not find any registration information related to the company, indicating that the company is registered in New York information is false. On the other hand, although regulators in most countries around the world have not formed comprehensive supervision of digital currency-related institutions, the US financial regulators have repeatedly reaffirmed their supervision of digital currency-related institutions. In addition, although the BITBORK Exchange website does not provide the regulatory or authorization information it has obtained, neither the Financial Industry Regulatory Authority (FINRA), the regulator where the company is registered, nor the Treasury Department's Financial Crimes Enforcement Network (FinCEN) websites have any regulatory or authorization information related to the company. According to this, BITBORK Exchange is a Ponzi scheme, and investors should be careful about the services offered by the company. TraderKnows reminds you, please pay attention to your property safety, to avoid falling into the fraud trap.
